Belgium: Ball Bearing Market 2024

Ball Bearing Market Size in Belgium

In 2021, the Belgian ball bearing market was finally on the rise to reach $X after two years of decline. Over the period under review, the total consumption indicated a resilient expansion from 2012 to 2021: its value increased at an average annual rate of +8.6% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Ball Bearing Production in Belgium

In value terms, ball bearing production expanded remarkably to $X in 2021 estimated in export price. Overall, the total production indicated a mild increase from 2012 to 2021: its value increased at an average annual rate of +1.9% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production decreased by -38.9% against 2018 indices. The growth pace was the most rapid in 2013 when the production volume increased by 20% against the previous year. Over the period under review, production reached the maximum level at $X in 2018; however, from 2019 to 2021, production remained at a lower figure.

Ball Bearing Exports

Exports from Belgium

In 2021, overseas shipments of ball bearings increased by 15% to X tons, rising for the sixth consecutive year after two years of decline. Over the period under review, exports, however, saw a pronounced decrease. The pace of growth was the most pronounced in 2020 when exports increased by 168% against the previous year. Over the period under review, the exports attained the peak figure at X tons in 2013; however, from 2014 to 2021, the exports remained at a lower figure.

In value terms, ball bearing exports soared to $X in 2021. Overall, exports, however, continue to indicate a abrupt contraction. The pace of growth appeared the most rapid in 2020 with an increase of 230%. Over the period under review, the exports reached the peak figure at $X in 2013; however, from 2014 to 2021, the exports failed to regain momentum.

Exports by Country

Germany (X tons), France (X tons) and Italy (X tons) were the main destinations of ball bearing exports from Belgium, together comprising 41% of total exports. These countries were followed by Turkey, Poland, Japan, the Netherlands, Spain, Sweden, Austria, Brazil, the Czech Republic and Romania, which together accounted for a further 41%.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Japan (with a CAGR of +32.8%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for ball bearing exported from Belgium were Germany ($X), France ($X) and Italy ($X), together comprising 38% of total exports. These countries were followed by Turkey, the Netherlands, Poland, Spain, Sweden, Japan, Austria, the Czech Republic, Romania and Brazil, which together accounted for a further 39%.

Japan, with a CAGR of +26.3%, recorded the highest growth rate of the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average ball bearing export price stood at $X per ton in 2021, rising by 4.3% against the previous year. Over the period under review, the export price, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 when the average export price increased by 23%. Over the period under review, the average export prices hit record highs at $X per ton in 2015; however, from 2016 to 2021, the export prices remained at a lower figure.

There were significant differences in the average prices for the major export markets. In 2021, the country with the highest price was the Netherlands ($X per ton), while the average price for exports to Japan ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Italy (+1.0%), while the prices for the other major destinations experienced more modest paces of growth.

Ball Bearing Imports

Imports into Belgium

In 2021, supplies from abroad of ball bearings increased by 114% to X tons, rising for the sixth year in a row after two years of decline. In general, imports saw buoyant growth. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, ball bearing imports skyrocketed to $X in 2021. Over the period under review, imports, however, saw a slight reduction. The pace of growth appeared the most rapid in 2020 when imports increased by 65%. Imports peaked at $X in 2013; however, from 2014 to 2021, imports stood at a somewhat lower figure.

Imports by Country

France (X tons), Italy (X tons) and Germany (X tons) were the main suppliers of ball bearing imports to Belgium, with a combined 83% share of total imports. China, the Netherlands, Malaysia, Luxembourg and Sweden lagged somewhat behind, together accounting for a further 12%.

From 2012 to 2021, the biggest increases were recorded for Luxembourg (with a CAGR of +64.2%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest ball bearing suppliers to Belgium were France ($X), Italy ($X) and Germany ($X), together accounting for 79% of total imports. Malaysia, China, the Netherlands, Sweden and Luxembourg lagged somewhat behind, together comprising a further 11%.

Luxembourg, with a CAGR of +34.8%, recorded the highest rates of growth with regard to the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average ball bearing import price stood at $X per ton in 2021, waning by -38.5% against the previous year. Over the period under review, the import price showed a deep setback. The most prominent rate of growth was recorded in 2013 when the average import price increased by 9.5% against the previous year. As a result, import price reached the peak level of $X per ton. From 2014 to 2021, the average import prices remained at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was Germany ($X per ton), while the price for Luxembourg ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Malaysia (-2.4%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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