Colombia: Roller Bearing Market 2024

Roller Bearing Market Size in Colombia

In 2023, the Colombian roller bearing market decreased by X% to $X for the first time since 2020, thus ending a two-year rising trend. In general, the total consumption indicated a noticeable expansion from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, consumption increased by X% against 2020 indices. Over the period under review, the market attained the peak level at $X in 2022, and then shrank in the following year.

Roller Bearing Exports

Exports from Colombia

In 2023, the amount of roller bearings exported from Colombia skyrocketed to X tons, jumping by X% against the previous year. Overall, exports showed a measured increase. The most prominent rate of growth was recorded in 2013 with an increase of X% against the previous year. The Colombia exports peaked at X tons in 2015; however, from 2016 to 2023, the exports failed to regain momentum.

In value terms, roller bearing exports fell significantly to $X in 2023. In general, exports saw a prominent expansion. The pace of growth appeared the most rapid in 2022 when exports increased by X% against the previous year. The Colombia exports peaked at $X in 2014; however, from 2015 to 2023, the exports remained at a lower figure.

Exports by Country

China was the largest exporting country with an export of about X tons, which finished at X% of total exports. Germany (X tons) held 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%). The following exporters - 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) - together made up X% of total exports.

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. From 2012 to 2023, the share of China, Vietnam and the Netherlands increased by X, X and X percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X), Germany ($X) and Italy ($X) appeared to be the countries with the highest levels of exports in 2023, together comprising X% 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%.

Vietnam, with a CAGR of X%, saw the highest rates of growth with regard to the value of exports, among the main exporting countries 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 Colombia amounted to $X per ton, dropping by X% against the previous year. Over the period under review, the export price, however, saw a prominent increase. The pace of growth was the most pronounced in 2022 when the export price increased by X%. As a result, the export price attained the peak level of $X per ton, and then reduced remarkably in the following year.

Prices varied noticeably by country of origin: 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 Colombia

After two years of growth, supplies from abroad of roller bearings decreased by X% to X tons in 2023. Overall, total imports indicated a notable increase from 2012 to 2023: its volume increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, imports increased by X% against 2020 indices. The pace of growth appeared the most rapid in 2017 when imports increased by X%. Colombia imports peaked at X tons in 2022, and then contracted in the following year.

In value terms, roller bearing imports contracted to $X in 2023. Over the period under review, total imports indicated a moderate increase from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, imports increased by X% against 2020 indices. The pace of growth appeared the most rapid in 2017 with an increase of X%. Colombia imports peaked at $X in 2022, and then reduced in the following year.

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 generating X% of total imports. South Korea (X tons), Italy (X tons), Canada (X tons), Poland (X tons), Nigeria (X tons), France (X tons), Austria (X tons), Spain (X tons) and Malaysia (X tons) took a relatively small share 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, Germany ($X), India ($X) and Indonesia ($X) constituted the countries with the highest levels of imports in 2023, together comprising X% of total imports. Canada, Thailand, Poland, Italy, France, Malaysia, South Korea, Austria, Spain and Nigeria lagged somewhat behind, together accounting for a further X%.

In terms of the main importing countries, Poland, with a CAGR of X%, recorded 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

In 2023, the import price in Colombia amounted to $X per ton, remaining relatively unchanged against the previous year. Over the period under review, the import price, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 when the import price increased by X% against the previous year. As a result, import price reached the peak level of $X per ton. From 2017 to 2023, the import prices failed to regain momentum.

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