CIS: Bearing Market 2024

Bearing Market Size in CIS

The CIS bearing market expanded modestly to $X in 2023, growing by X% against the previous year. In general, consumption, however, saw a mild descent. The level of consumption peaked at $X in 2017; however, from 2018 to 2023, consumption stood at a somewhat lower figure.

Bearing Production in CIS

In value terms, bearing production expanded modestly to $X in 2023 estimated in export price. Overall, production, however, saw a pronounced descent. The most prominent rate of growth was recorded in 2021 with an increase of X%. Over the period under review, production attained the peak level at $X in 2012; however, from 2013 to 2023, production remained at a lower figure.

Bearing Exports

Exports in CIS

After three years of decline, shipments abroad of ball and roller bearings increased by X% to X tons in 2023. Overall, exports, however, showed a noticeable decline. The most prominent rate of growth was recorded in 2016 with an increase of X% against the previous year. Over the period under review, the exports reached the maximum at X tons in 2012; however, from 2013 to 2023, the exports stood at a somewhat lower figure.

In value terms, bearing exports soared to $X in 2023. Over the period under review, exports, however, showed a pronounced shrinkage. The most prominent rate of growth was recorded in 2016 when exports increased by X% against the previous year. Over the period under review, the exports reached the peak figure at $X in 2012; however, from 2013 to 2023, the exports remained at a lower figure.

Exports by Country

Russia was the major exporter of ball and roller bearings in the CIS, with the volume of exports accounting for X tons, which was near X% of total exports in 2023. It was distantly followed by Belarus (X tons) and Kazakhstan (X tons), together making up a X% share of total exports.

Russia was also the fastest-growing in terms of the ball and roller bearings exports, with a CAGR of X% from 2012 to 2023. Kazakhstan (X%) and Belarus (X%) illustrated a downward trend over the same period. While the share of Russia (X p.p.) increased significantly in terms of the total exports from 2012-2023, the share of Kazakhstan (X p.p.) and Belarus (X p.p.) displayed negative dynamics.

In value terms, Russia ($X) remains the largest bearing supplier in the CIS, comprising X% of total exports. The second position in the ranking was taken by Kazakhstan ($X), with an X% share of total exports.

From 2012 to 2023, the average annual growth rate of value in Russia totaled X%. The remaining exporting countries recorded the following average annual rates of exports growth: Kazakhstan (X% per year) and Belarus (X% per year).

Export Prices by Country

The export price in the CIS stood at $X per ton in 2023, increasing by X% against the previous year. In general, the export price continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 an increase of X% against the previous year. Over the period under review, the export prices hit record highs in 2023 and is expected to retain growth in years to come.

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 Kazakhstan ($X per ton), while Russia ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Belarus (X%), while the other leaders experienced a decline in the export price figures.

Bearing Imports

Imports in CIS

After two years of decline, overseas purchases of ball and roller bearings increased by X% to X tons in 2023. Overall, imports saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2016 when imports increased by X%. The volume of import peaked at X tons in 2017; however, from 2018 to 2023, imports failed to regain momentum.

In value terms, bearing imports expanded markedly to $X in 2023. Over the period under review, imports recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2016 with an increase of X%. The level of import peaked at $X in 2017; however, from 2018 to 2023, imports remained at a lower figure.

Imports by Country

Russia dominates imports structure, recording X tons, which was approx. X% of total imports in 2023. Belarus (X tons) took the second position in the ranking, followed by Kazakhstan (X tons). All these countries together held approx. X% share of total imports. Uzbekistan (X tons) and Azerbaijan (X tons) followed a long way behind the leaders.

Imports into Russia increased at an average annual rate of X% from 2012 to 2023. At the same time, Uzbekistan (X%) and Azerbaijan (X%) displayed positive paces of growth. Moreover, Uzbekistan emerged as the fastest-growing importer imported in the CIS, with a CAGR of X% from 2012-2023. Kazakhstan experienced a relatively flat trend pattern. By contrast, Belarus (X%) illustrated a downward trend over the same period. From 2012 to 2023, the share of Russia and Uzbekistan increased by X and X percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Russia ($X) constitutes the largest market for imported ball and roller bearings in the CIS, comprising X% of total imports. The second position in the ranking was taken by Kazakhstan ($X), with a X% share of total imports. It was followed by Belarus, with a X% share.

In Russia, bearing imports remained relatively stable over the period from 2012-2023. The remaining importing countries recorded the following average annual rates of imports growth: Kazakhstan (X% per year) and Belarus (X% per year).

Import Prices by Country

The import price in the CIS stood at $X per ton in 2023, stabilizing at the previous year. Over the period under review, the import price saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 when the import price increased by X% against the previous year. The level of import peaked at $X per ton in 2017; however, from 2018 to 2023, import prices remained at a lower figure.

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

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Kazakhstan (X%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform