Venezuela: Cylindrical Roller Bearing Market 2024

Cylindrical Roller Bearing Market Size in Venezuela

The Venezuelan cylindrical roller bearing market shrank to $X in 2022, declining by -11.3% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Over the period under review, consumption, however, faced a sharp reduction. Over the period under review, the market reached the maximum level at $X in 2012; however, from 2013 to 2022, consumption remained at a lower figure.

Cylindrical Roller Bearing Exports

Exports from Venezuela

In 2022, the amount of cylindrical roller bearings exported from Venezuela surged to X tons, growing by 32% compared with the previous year. Overall, exports continue to indicate a prominent increase. The pace of growth appeared the most rapid in 2015 when exports increased by 298%. The Venezuela exports peaked at X tons in 2020; however, from 2021 to 2022, the exports remained at a lower figure.

In value terms, cylindrical roller bearing exports reached $X in 2022. In general, exports, however, saw a slight reduction. The most prominent rate of growth was recorded in 2015 when exports increased by 396% against the previous year. As a result, the exports reached the peak of $X. From 2016 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

The shipments of the three major exporters of cylindrical roller bearings, namely Germany, China and Japan, represented more than half of total export. Romania (X tons) held a 7.7% share (based on physical terms) of total exports, which put it in second place, followed by Slovakia (5.6%). Taiwan (Chinese) (X tons), Kazakhstan (X tons), Canada (X tons), Russia (X tons), Hong Kong SAR (X tons), Poland (X tons), France (X tons) and Italy (X tons) took a little share of total exports.

From 2012 to 2022, the biggest increases were recorded for Taiwan (Chinese) (with a CAGR of +43.8%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X) remains the largest cylindrical roller bearing supplier from Venezuela, comprising 27% of global exports. The second position in the ranking was taken by Japan ($X), with an 11% share of global exports. It was followed by China, with an 8.9% share.

In Germany, cylindrical roller bearing exports remained relatively stable over the period from 2012-2022. In the other countries, the average annual rates were as follows: Japan (-0.3% per year) and China (+6.6% per year).

Export Prices by Country

In 2022, the export price in Venezuela amounted to $X per ton, shrinking by -16.2% against the previous year. In general, the export price saw a abrupt shrinkage. The most prominent rate of growth was recorded in 2021 an increase of 34%. Over the period under review, the export prices hit record highs at $X per ton in 2015; however, from 2016 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was France ($X per ton), while Russia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by France (+3.3%), while the other leaders experienced more modest paces of growth.

Cylindrical Roller Bearing Imports

Imports into Venezuela

In 2022, purchases abroad of cylindrical roller bearings was finally on the rise to reach X tons after three years of decline. Over the period under review, imports, however, saw a deep setback. The growth pace was the most rapid in 2018 with an increase of 272%. Venezuela imports peaked at X tons in 2012; however, from 2013 to 2022, imports failed to regain momentum.

In value terms, cylindrical roller bearing imports shrank to $X in 2022. In general, imports, however, faced a precipitous curtailment. The growth pace was the most rapid in 2018 with an increase of 212%. Venezuela imports peaked at $X in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, China (X tons), Russia (X tons) and Germany (X tons) represented the main importer of cylindrical roller bearings in the world, constituting 42% of total import. It was distantly followed by the United States (X tons), achieving a 5.7% share of total imports. Spain (X tons), Mexico (X tons), Italy (X tons), Brazil (X tons), Thailand (X tons), South Korea (X tons), Indonesia (X tons), Turkey (X tons) and the Czech Republic (X tons) followed a long way behind the leaders.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by Thailand (with a CAGR of +20.0%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest cylindrical roller bearing importing markets into Venezuela were China ($X), Germany ($X) and the United States ($X), together accounting for 43% of total imports. Mexico, Italy, Brazil, Russia, South Korea, Spain, Indonesia, Turkey, the Czech Republic and Thailand lagged somewhat behind, together comprising a further 23%.

In terms of the main importing countries, Spain, with a CAGR of +13.7%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in Venezuela stood at $X per ton in 2022, falling by -16.8% against the previous year. In general, the import price recorded a perceptible setback. The most prominent rate of growth was recorded in 2021 when the import price increased by 38%. Over the period under review, import prices reached the maximum at $X per ton in 2017; however, from 2018 to 2022, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was the United States ($X per ton), while Russia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Mexico (+2.6%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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