Report Update Nov 1, 2024

Venezuela - Needle Roller Bearings - Market Analysis, Forecast, Size, Trends and Insights

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Venezuela: Needle Roller Bearing Market 2024

Needle Roller Bearing Market Size in Venezuela

After two years of growth, the Venezuelan needle roller bearing market decreased by -55.4% to $X in 2021. In general, consumption showed a precipitous contraction. Needle roller bearing consumption peaked at $X in 2013; however, from 2014 to 2021, consumption stood at a somewhat lower figure.

Needle Roller Bearing Exports

Exports from Venezuela

In 2021, overseas shipments of needle roller bearings decreased by -46.2% to X kg, falling for the third year in a row after seven years of growth. Over the period under review, exports, however, posted a resilient expansion. The pace of growth appeared the most rapid in 2018 with an increase of 127% against the previous year. As a result, the exports reached the peak of X kg. From 2019 to 2021, the growth of the exports remained at a lower figure.

In value terms, needle roller bearing exports contracted sharply to $X in 2021. In general, exports, however, showed prominent growth. The pace of growth appeared the most rapid in 2018 with an increase of 92% against the previous year. As a result, the exports reached the peak of $X. From 2019 to 2021, the growth of the exports failed to regain momentum.

Exports by Country

Colombia (X kg) was the main destination for needle roller bearing exports from Venezuela, with a approx. 100% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of volume to Colombia totaled +11.3%.

In value terms, Colombia ($X) also remains the key foreign market for needle roller bearing exports from Venezuela.

From 2012 to 2021, the average annual rate of growth in terms of value to Colombia stood at +11.3%.

Export Prices by Country

The average needle roller bearing export price stood at $X per ton in 2021, reducing by -11% against the previous year. Over the period under review, the export price, however, recorded a modest increase. The most prominent rate of growth was recorded in 2020 an increase of 74%. Over the period under review, the average export prices hit record highs at $X per ton in 2013; however, from 2014 to 2021, the export prices failed to regain momentum.

As there is only one major export destination, the average price level is determined by prices for Colombia.

From 2012 to 2021, the rate of growth in terms of prices for Colombia amounted to +0.1% per year.

Needle Roller Bearing Imports

Imports into Venezuela

After three years of growth, overseas purchases of needle roller bearings decreased by -50.5% to X tons in 2021. Over the period under review, imports recorded a sharp reduction. The growth pace was the most rapid in 2019 with an increase of 169%. Imports peaked at X tons in 2013; however, from 2014 to 2021, imports failed to regain momentum.

In value terms, needle roller bearing imports contracted markedly to $X in 2021. Overall, imports faced a dramatic curtailment. The pace of growth was the most pronounced in 2019 when imports increased by 91%. Imports peaked at $X in 2013; however, from 2014 to 2021, imports stood at a somewhat lower figure.

Imports by Country

Sweden (X tons), China (X tons) and Italy (X kg) were the main suppliers of needle roller bearing imports to Venezuela, together comprising 70% of total imports.

From 2012 to 2021, the biggest increases were in Sweden (with a CAGR of -0.4%), while purchases for the other leaders experienced a decline.

In value terms, Italy ($X) constituted the largest supplier of needle roller bearing to Venezuela, comprising 51% of total imports. The second position in the ranking was taken by Sweden ($X), with a 16% share of total imports. It was followed by the United States, with a 7.7% share.

From 2012 to 2021, the average annual growth rate of value from Italy was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Sweden (-9.6% per year) and the United States (-43.4% per year).

Import Prices by Country

The average needle roller bearing import price stood at $X per ton in 2021, which is down by -16% against the previous year. Over the period under review, the import price, however, continues to indicate a mild expansion. The most prominent rate of growth was recorded in 2014 when the average import price increased by 77% against the previous year. The import price peaked at $X per ton in 2017; however, from 2018 to 2021, import prices failed to regain momentum.

Prices varied noticeably country of origin: the country with the highest price was Italy ($X per ton), while the price for Hong Kong SAR ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Panama (+6.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for needle roller bearings in the world?

The countries with the highest volumes of in 2021 were China, the United States and Germany, with a combined 44% share of global consumption. These countries were followed by India, Mexico, Brazil, Japan, Russia, Canada, France, Vietnam, South Korea and the Philippines, which together accounted for a further 34%.

What are the largest producers of needle roller bearings in the world?

The country with the largest volume of needle roller bearing production was China, comprising approx. 28% of total volume. Moreover, needle roller bearing production in China exceeded the figures recorded by the second-largest producer, Japan, twofold. The United States ranked third in terms of total production with an 8.4% share.

What are the leading suppliers of needle roller bearings to Venezuela?

In value terms, Taiwan Chinese) constituted the largest supplier of needle roller bearing to Venezuela, comprising 55% of total imports. The second position in the ranking was occupied by the United States, with a 10% share of total imports. It was followed by China, with a 5.3% share.

What are the leading importers of needle roller bearings from Venezuela?

In value terms, Colombia remains the key foreign market for needle roller bearing exports from Venezuela.

What is the average export price for needle roller bearings in Venezuela?

The average needle roller bearing export price stood at $19,088 per ton in 2021, falling by -32% against the previous year.

What is the average import price for needle roller bearings in Venezuela?

In 2021, the average needle roller bearing import price amounted to $140,012 per ton, shrinking by -3.2% against the previous year.

This report provides an in-depth analysis of the needle roller bearing market in Venezuela. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

Prodcom 28151070 - Needle roller bearings

Country coverage:

Venezuela

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Trade (exports and imports) in Venezuela
Export and import prices
Market trends, drivers and restraints
Key market players and their profiles

Reasons to buy this report:

Take advantage of the latest data
Find deeper insights into current market developments
Discover vital success factors affecting the market

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

How to diversify your business and benefit from new market opportunities
How to load your idle production capacity
How to boost your sales on overseas markets
How to increase your profit margins
How to make your supply chain more sustainable
How to reduce your production and supply chain costs
How to outsource production to other countries
How to prepare your business for global expansion

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business
1. REPORT DESCRIPTION
2. RESEARCH METHODOLOGY AND AI PLATFORM
3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
4. GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance
1. KEY FINDINGS
2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects
1. MARKET SIZE
2. MARKET STRUCTURE
3. TRADE BALANCE
4. PER CAPITA CONSUMPTION
5. MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT

Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO
1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
2. BEST-SELLING PRODUCTS
3. MOST CONSUMED PRODUCT
4. MOST TRADED PRODUCT
5. MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO
1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
2. TOP PRODUCING COUNTRIES
3. TOP EXPORTING COUNTRIES
4. LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO
1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
2. TOP CONSUMING MARKETS
3. UNSATURATED MARKETS
4. TOP IMPORTING MARKETS
5. MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
1. IMPORTS FROM 2012–2023
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
1. EXPORTS FROM 2012–2023
2. EXPORTS BY COUNTRY
3. EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO
LIST OF TABLES
1. Key Findings In 2023
2. Market Volume, In Physical Terms, 2012–2023
3. Market Value, 2012–2023
4. Per Capita Consumption In 2012-2023
5. Imports, In Physical Terms, By Country, 2012–2023
6. Imports, In Value Terms, By Country, 2012–2023
7. Import Prices, By Country Of Origin, 2012–2023
8. Exports, In Physical Terms, By Country, 2012–2023
9. Exports, In Value Terms, By Country, 2012–2023
10. Export Prices, By Country Of Destination, 2012–2023
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2023
2. Market Value, 2012–2023
3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
5. Trade Balance, In Physical Terms, 2012-2023
6. Trade Balance, In Value Terms, 2012-2023
7. Per Capita Consumption, 2012-2023
8. Market Volume Forecast to 2030
9. Market Value Forecast to 2030
10. Products: Market Size And Growth, By Type
11. Products: Average Per Capita Consumption, By Type
12. Products: Exports And Growth, By Type
13. Products: Export Prices And Growth, By Type
14. Production Volume And Growth
15. Exports And Growth
16. Export Prices And Growth
17. Market Size And Growth
18. Per Capita Consumption
19. Imports And Growth
20. Import Prices
21. Production, In Physical Terms, 2012–2023
22. Production, In Value Terms, 2012–2023
23. Imports, In Physical Terms, 2012–2023
24. Imports, In Value Terms, 2012–2023
25. Imports, In Physical Terms, By Country, 2023
26. Imports, In Physical Terms, By Country, 2012–2023
27. Imports, In Value Terms, By Country, 2012–2023
28. Import Prices, By Country Of Origin, 2012–2023
29. Exports, In Physical Terms, 2012–2023
30. Exports, In Value Terms, 2012–2023
31. Exports, In Physical Terms, By Country, 2023
32. Exports, In Physical Terms, By Country, 2012–2023
33. Exports, In Value Terms, By Country, 2012–2023
34. Export Prices, By Country Of Destination, 2012–2023