Canada: Roller Bearing Market 2024

Roller Bearing Market Size in Canada

After two years of growth, the Canadian roller bearing market decreased by X% to $X in 2023. Overall, consumption, however, continues to indicate a relatively flat trend pattern. Canada consumption peaked at $X in 2019; however, from 2020 to 2023, consumption stood at a somewhat lower figure.

Roller Bearing Production in Canada

In value terms, roller bearing production fell modestly to $X in 2023 estimated in export price. Over the period under review, the total production indicated a moderate expansion from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, production decreased by X% against 2021 indices. The pace of growth was the most pronounced in 2015 when the production volume increased by X%. Canada production peaked at $X in 2019; however, from 2020 to 2023, production remained at a lower figure.

Roller Bearing Exports

Exports from Canada

Roller bearing exports from Canada soared to X tons in 2023, picking up by X% against the previous year's figure. In general, exports, however, recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 with an increase of X%. The Canada exports peaked at X tons in 2015; however, from 2016 to 2023, the exports stood at a somewhat lower figure.

In value terms, roller bearing exports surged to $X in 2023. Overall, exports recorded a mild increase. The most prominent rate of growth was recorded in 2021 with an increase of X%. The Canada exports peaked at $X in 2015; however, from 2016 to 2023, the exports stood at a somewhat lower figure.

Exports by Country

China was the largest exporting country with an export of about X tons, which reached X% of total exports. Germany (X tons) took a X% share (based on physical terms) of total exports, which put it in second place, followed by France (X%), Singapore (X%), Slovakia (X%) and Italy (X%). South Korea (X tons), the United States (X tons), Vietnam (X tons), the Netherlands (X tons), Turkey (X tons), Hong Kong SAR (X tons) and Austria (X tons) followed a long way behind the leaders.

China was also the fastest-growing in terms of the roller bearings exports, with a CAGR of X% from 2012 to 2023. At the same time, the Netherlands (X%), Vietnam (X%) and Turkey (X%) displayed positive paces of growth. Germany and Slovakia experienced a relatively flat trend pattern. By contrast, Italy (X%), France (X%), Singapore (X%), the United States (X%), South Korea (X%), Hong Kong SAR (X%) and Austria (X%) illustrated a downward trend over the same period. China (X p.p.), Vietnam (X p.p.) and the Netherlands (X p.p.) significantly strengthened its position in terms of the global exports, while France, Singapore, Hong Kong SAR, the United States, South Korea and Austria saw its share reduced by X%, X%, X%, X%, X% and X% from 2012 to 2023, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X), Germany ($X) and Italy ($X) were the countries with the highest levels of exports in 2023, with a combined X% share of total exports. The United States, Singapore, France, Vietnam, the Netherlands, Hong Kong SAR, Slovakia, Turkey, South Korea and Austria lagged somewhat behind, together comprising a further X%.

In terms of the main exporting countries, Vietnam, with a CAGR of X%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2023, the export price in Canada amounted to $X per ton, reducing by X% against the previous year. Overall, export price indicated modest growth from 2012 to 2023: its price increased at an average annual rate of X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, roller bearing export price decreased by X% against 2020 indices. The most prominent rate of growth was recorded in 2020 an increase of X% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2021 to 2023, the export prices remained at a lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2023, amid the top suppliers, the country with the highest price was the United States ($X per ton), while China ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Austria (X%), while the other leaders experienced more modest paces of growth.

Roller Bearing Imports

Imports into Canada

In 2023, approx. X tons of roller bearings were imported into Canada; reducing by X% compared with the previous year. In general, imports continue to indicate a noticeable descent. The most prominent rate of growth was recorded in 2016 when imports increased by X%. Over the period under review, imports attained the peak figure at X tons in 2018; however, from 2019 to 2023, imports stood at a somewhat lower figure.

In value terms, roller bearing imports dropped dramatically to $X in 2023. Overall, imports saw a noticeable shrinkage. The pace of growth appeared the most rapid in 2022 when imports increased by X% against the previous year. Canada imports peaked at $X in 2012; however, from 2013 to 2023, imports failed to regain momentum.

Imports by Country

In 2023, Indonesia (X tons), followed by Thailand (X tons), India (X tons) and Germany (X tons) were the main importers of roller bearings, together constituting X% of total imports. The following importers - South Korea (X tons), Italy (X tons), Poland (X tons), Nigeria (X tons), France (X tons), Austria (X tons), Spain (X tons), Malaysia (X tons) and Mexico (X tons) - together made up X% of total imports.

From 2012 to 2023, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by Malaysia (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest roller bearing importing markets into Canada were Germany ($X), India ($X) and Indonesia ($X), together comprising X% of total imports. Thailand, Poland, Italy, France, Malaysia, South Korea, Mexico, Austria, Spain and Nigeria lagged somewhat behind, together comprising a further X%.

Poland, with a CAGR of X%, recorded the highest rates of growth with regard to the value of imports, among the main importing countries 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 Canada stood at $X per ton in 2023, waning by X% against the previous year. Over the period under review, the import price showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when the import price increased by X% against the previous year. Over the period under review, import prices hit record highs at $X per ton in 2022, and then fell in the following year.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Malaysia ($X per ton), while Nigeria ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by France (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform