Eastern Europe: Bearing Market 2024

Bearing Market Size in Eastern Europe

The East European bearing market reduced slightly to $X in 2023, flattening at the previous year. In general, consumption, however, recorded a slight reduction. Over the period under review, the market attained the maximum level at $X in 2018; however, from 2019 to 2023, consumption failed to regain momentum.

Bearing Production in Eastern Europe

In value terms, bearing production declined slightly to $X in 2023 estimated in export price. Over the period under review, production, however, recorded a relatively flat trend pattern. The growth pace was the most rapid in 2021 when the production volume increased by X%. Over the period under review, production hit record highs at $X in 2018; however, from 2019 to 2023, production stood at a somewhat lower figure.

Bearing Exports

Exports in Eastern Europe

After two years of growth, overseas shipments of ball and roller bearings decreased by X% to X tons in 2023. Over the period under review, exports, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 with an increase of X% against the previous year. The volume of export peaked at X tons in 2022, and then reduced in the following year.

In value terms, bearing exports stood at $X in 2023. The total export value increased at an average annual rate of X% over the period from 2012 to 2023; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2021 when exports increased by X% against the previous year. The level of export peaked in 2023 and is likely to see steady growth in the near future.

Exports by Country

The shipments of the three major exporters of ball and roller bearings, namely Romania, Poland and Slovakia, represented more than two-thirds of total export. It was distantly followed by Hungary (X tons), Russia (X tons) and the Czech Republic (X tons), together creating a X% share of total exports. Latvia (X tons) took a minor share of total exports.

From 2012 to 2023, the most notable rate of growth in terms of shipments, amongst the main exporting countries, was attained by Latvia (with a CAGR of X%), while the other leaders experienced more modest paces of growth.

In value terms, the largest bearing supplying countries in Eastern Europe were Romania ($X), Slovakia ($X) and Poland ($X), together comprising X% of total exports. The Czech Republic, Hungary, Russia and Latvia lagged somewhat behind, together comprising a further X%.

Latvia, with a CAGR of X%, recorded 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

The export price in Eastern Europe stood at $X per ton in 2023, with an increase of X% against the previous year. Over the period from 2012 to 2023, it increased at an average annual rate of X%. The most prominent rate of growth was recorded in 2021 when the export price increased by X%. Over the period under review, the export prices reached the maximum in 2023 and is likely to see gradual growth in the near future.

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 Czech Republic ($X per ton), while Latvia ($X per ton) was amongst the lowest.

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

Bearing Imports

Imports in Eastern Europe

In 2023, the amount of ball and roller bearings imported in Eastern Europe contracted to X tons, falling by X% on the previous year's figure. Overall, imports, however, saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2016 with an increase of X%. The volume of import peaked at X tons in 2021; however, from 2022 to 2023, imports remained at a lower figure.

In value terms, bearing imports shrank modestly to $X in 2023. The total import value increased at an average annual rate of X% from 2012 to 2023; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2021 when imports increased by X%. As a result, imports reached the peak of $X; afterwards, it flattened through to 2023.

Imports by Country

Russia was the major importer of ball and roller bearings in Eastern Europe, with the volume of imports amounting to X tons, which was near X% of total imports in 2023. Poland (X tons) held the second position in the ranking, followed by the Czech Republic (X tons), Hungary (X tons), Romania (X tons), Slovakia (X tons) and Belarus (X tons). All these countries together held approx. X% share of total imports.

Imports into Russia increased at an average annual rate of X% from 2012 to 2023. At the same time, Romania (X%), Hungary (X%), Slovakia (X%) and Poland (X%) displayed positive paces of growth. Moreover, Romania emerged as the fastest-growing importer imported in Eastern Europe, with a CAGR of X% from 2012-2023. The Czech Republic 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, Poland, Hungary and Romania increased by X, X, X and X percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest bearing importing markets in Eastern Europe were Russia ($X), Poland ($X) and the Czech Republic ($X), together comprising X% of total imports.

Among the main importing countries, Poland, with a CAGR of X%, saw the highest growth rate of 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 Eastern Europe stood at $X per ton in 2023, increasing by X% against the previous year. Over the last eleven-year period, it increased at an average annual rate of X%. The growth pace was the most rapid in 2017 when the import price increased by X% against the previous year. Over the period under review, import prices reached the maximum in 2023 and is likely to see gradual growth in the immediate term.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Hungary ($X per ton), while Russia ($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 more modest paces of growth.

Source: IndexBox Platform