Europe: Bearing Market 2024

Bearing Market Size in Europe

In 2023, the Europe bearing market decreased by X% to $X for the first time since 2020, thus ending a two-year rising trend. In general, consumption recorded a mild decline. Over the period under review, the market hit record highs at $X in 2014; however, from 2015 to 2023, consumption failed to regain momentum.

Bearing Production in Europe

In value terms, bearing production contracted to $X in 2023 estimated in export price. Over the period under review, production saw a mild decrease. The growth pace was the most rapid in 2021 when the production volume increased by X%. The level of production peaked at $X in 2014; however, from 2015 to 2023, production failed to regain momentum.

Bearing Exports

Exports in Europe

In 2023, shipments abroad of ball and roller bearings decreased by X% to X tons for the first time since 2020, thus ending a two-year rising trend. Overall, exports 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. Over the period under review, the exports hit record highs at X tons in 2014; however, from 2015 to 2023, the exports failed to regain momentum.

In value terms, bearing exports declined to $X in 2023. In general, exports, however, continue to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 when exports increased by X% against the previous year. The level of export peaked at $X in 2014; however, from 2015 to 2023, the exports failed to regain momentum.

Exports by Country

In 2023, Germany (X tons), distantly followed by Italy (X tons), France (X tons), the Netherlands (X tons), Romania (X tons), Poland (X tons), Austria (X tons) and Slovakia (X tons) were the major exporters of ball and roller bearings, together achieving X% of total exports. Sweden (X tons), Belgium (X tons), Spain (X tons), Hungary (X tons) and Russia (X tons) held a relatively small share of total exports.

Germany experienced a relatively flat trend pattern with regard to volume of exports of ball and roller bearings. At the same time, the Netherlands (X%), Romania (X%), Poland (X%) and Hungary (X%) displayed positive paces of growth. Moreover, the Netherlands emerged as the fastest-growing exporter exported in Europe, with a CAGR of X% from 2012-2023. Italy and Spain experienced a relatively flat trend pattern. By contrast, Slovakia (X%), Russia (X%), France (X%), Austria (X%), Sweden (X%) and Belgium (X%) illustrated a downward trend over the same period. From 2012 to 2023, the share of the Netherlands, Romania and Poland 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, Germany ($X) remains the largest bearing supplier in Europe, comprising X% of total exports. The second position in the ranking was held by France ($X), with an X% share of total exports. It was followed by Italy, with a X% share.

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

Export Prices by Country

In 2023, the export price in Europe amounted to $X per ton, picking up by X% against the previous year. Overall, the export price continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2018 when the export price increased by X% against the previous year. Over the period under review, the export prices hit record highs in 2023 and is likely to see gradual growth in the immediate term.

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

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

Bearing Imports

Imports in Europe

In 2023, after two years of growth, there was significant decline in supplies from abroad of ball and roller bearings, when their volume decreased by X% to X tons. Over the period under review, imports, however, saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 with an increase of X% against the previous year. The volume of import peaked at X tons in 2022, and then contracted in the following year.

In value terms, bearing imports declined modestly to $X in 2023. Overall, imports, however, saw a mild increase. The most prominent rate of growth was recorded in 2021 with an increase of X% against the previous year. Over the period under review, imports attained the maximum at $X in 2022, and then reduced slightly in the following year.

Imports by Country

Germany represented the main importer of ball and roller bearings in Europe, with the volume of imports resulting at X tons, which was near X% of total imports in 2023. It was distantly followed by Italy (X tons), Russia (X tons), France (X tons), the Netherlands (X tons), Belgium (X tons) and Spain (X tons), together creating a X% share of total imports. Sweden (X tons), Poland (X tons), the Czech Republic (X tons), Denmark (X tons), Austria (X tons) and Hungary (X tons) held a little share of total imports.

Germany experienced a relatively flat trend pattern with regard to volume of imports of ball and roller bearings. At the same time, Spain (X%), Hungary (X%), the Netherlands (X%), Poland (X%), Denmark (X%), Sweden (X%), Russia (X%), Italy (X%) and Belgium (X%) displayed positive paces of growth. Moreover, Spain emerged as the fastest-growing importer imported in Europe, with a CAGR of X% from 2012-2023. The Czech Republic, Austria and France experienced a relatively flat trend pattern. Spain (X p.p.) significantly strengthened its position in terms of the total imports, while the shares of the other countries remained relatively stable throughout the analyzed period.

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

In Germany, bearing imports remained relatively stable over the period from 2012-2023. In the other countries, the average annual rates were as follows: France (X% per year) and Italy (X% per year).

Import Prices by Country

In 2023, the import price in Europe amounted to $X per ton, surging by X% against the previous year. Over the period under review, the import price showed a relatively flat trend pattern. The growth pace was the most rapid in 2018 when the import price increased by X%. Over the period under review, import prices attained the maximum at $X per ton in 2014; however, from 2015 to 2023, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2023, amid the top importers, the country with the highest price was Austria ($X per ton), while Russia ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform