Belgium: Tools For Bearing Market 2024

Tools For Bearing Market Size in Belgium

The Belgian tools for bearing market dropped to $X in 2022, remaining relatively unchanged against the previous year. In general, consumption recorded a relatively flat trend pattern. As a result, consumption reached the peak level of $X. From 2019 to 2022, the growth of the market remained at a lower figure.

Tools For Bearing Production in Belgium

In value terms, tools for bearing production dropped to $X in 2022 estimated in export price. Over the period under review, production showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 with an increase of 64% against the previous year. Tools for bearing production peaked at $X in 2019; however, from 2020 to 2022, production failed to regain momentum.

Tools For Bearing Exports

Exports from Belgium

In 2022, approx. X tons of balls, needles and rollers for ball or roller bearings were exported from Belgium; reducing by -33.6% compared with the previous year. In general, exports recorded a slight shrinkage. The pace of growth appeared the most rapid in 2016 with an increase of 35%. Over the period under review, the exports reached the maximum at X tons in 2021, and then contracted remarkably in the following year.

In value terms, tools for bearing exports contracted sharply to $X in 2022. Overall, exports recorded a slight decrease. The most prominent rate of growth was recorded in 2021 when exports increased by 24%. As a result, the exports attained the peak of $X, and then declined significantly in the following year.

Exports by Country

The Netherlands (X tons), Italy (X tons) and Germany (X tons) were the main destinations of tools for bearing exports from Belgium, with a combined 50% share of total exports. France, Indonesia, Greece, the UK, Malaysia, Spain, China, Portugal, Finland and Brazil lagged somewhat behind, together accounting for a further 37%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Greece (with a CAGR of +61.3%), while the other leaders experienced more modest paces of growth.

In value terms, Germany ($X), Italy ($X) and the Netherlands ($X) appeared to be the largest markets for tools for bearing exported from Belgium worldwide, with a combined 41% share of total exports. France, Greece, Indonesia, Spain, the UK, Brazil, China, Finland, Malaysia and Portugal lagged somewhat behind, together accounting for a further 37%.

Among the main countries of destination, Greece, with a CAGR of +30.8%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average tools for bearing export price stood at $X per ton in 2022, with an increase of 7% against the previous year. Over the period under review, the export price recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2018 when the average export price increased by 29% against the previous year. Over the period under review, the average export prices attained the maximum at $X per ton in 2013; however, from 2014 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Brazil ($X per ton), while the average price for exports to Malaysia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Brazil (+5.0%), while the prices for the other major destinations experienced more modest paces of growth.

Tools For Bearing Imports

Imports into Belgium

In 2022, supplies from abroad of balls, needles and rollers for ball or roller bearings decreased by -25.1% to X tons for the first time since 2019, thus ending a two-year rising trend. Over the period under review, imports continue to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2015 with an increase of 38%. Imports peaked at X tons in 2021, and then reduced notably in the following year.

In value terms, tools for bearing imports plummeted to $X in 2022. Overall, imports showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2020 with an increase of 29%. Imports peaked at $X in 2021, and then contracted remarkably in the following year.

Imports by Country

In 2022, China (X tons) constituted the largest tools for bearing supplier to Belgium, accounting for a 69% share of total imports. Moreover, tools for bearing imports from China exceeded the figures recorded by the second-largest supplier, Germany (X tons), sevenfold. India (X tons) ranked third in terms of total imports with an 8.2% share.

From 2012 to 2022, the average annual growth rate of volume from China stood at +5.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+8.5% per year) and India (-4.1% per year).

In value terms, China ($X) constituted the largest supplier of balls, needles and rollers for ball or roller bearings to Belgium, comprising 41% of total imports. The second position in the ranking was taken by Germany ($X), with an 11% share of total imports. It was followed by India, with a 7.7% share.

From 2012 to 2022, the average annual rate of growth in terms of value from China totaled +8.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (-0.1% per year) and India (-2.0% per year).

Import Prices by Country

The average tools for bearing import price stood at $X per ton in 2022, standing approx. at the previous year. Overall, the import price, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 when the average import price increased by 22% against the previous year. Over the period under review, average import prices hit record highs at $X per ton in 2013; however, from 2014 to 2022, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was France ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Italy (+19.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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