Belgium: Needle Roller Bearing Market 2024

Needle Roller Bearing Market Size in Belgium

The Belgian needle roller bearing market surged to $X in 2021, jumping by 43% against the previous year. In general, consumption continues to indicate a prominent expansion. Needle roller bearing consumption peaked in 2021 and is likely to see steady growth in years to come.

Needle Roller Bearing Production in Belgium

In value terms, needle roller bearing production rose notably to $X in 2021 estimated in export price. Over the period under review, production posted a resilient expansion. The most prominent rate of growth was recorded in 2013 with an increase of 157%. Needle roller bearing production peaked at $X in 2019; however, from 2020 to 2021, production stood at a somewhat lower figure.

Needle Roller Bearing Exports

Exports from Belgium

In 2021, approx. X tons of needle roller bearings were exported from Belgium; jumping by 19% against the previous year's figure. Overall, exports continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 with an increase of 58% against the previous year. The exports peaked at X tons in 2014; however, from 2015 to 2021, the exports remained at a lower figure.

In value terms, needle roller bearing exports skyrocketed to $X in 2021. In general, exports saw perceptible growth. The most prominent rate of growth was recorded in 2020 with an increase of 67%. Over the period under review, the exports attained the maximum in 2021 and are likely to see gradual growth in the immediate term.

Exports by Country

Poland (X tons), Brazil (X tons) and Germany (X tons) were the main destinations of needle roller bearing exports from Belgium, together comprising 59% of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Poland (with a CAGR of +41.2%), while the other leaders experienced more modest paces of growth.

In value terms, Poland ($X) emerged as the key foreign market for needle roller bearing exports from Belgium, comprising 39% of total exports. The second position in the ranking was held by Germany ($X), with a 14% share of total exports. It was followed by France, with a 7.5% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Poland totaled +47.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (-0.6% per year) and France (+1.0% per year).

Export Prices by Country

In 2021, the average needle roller bearing export price amounted to $X per ton, with an increase of 22% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +2.3%. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably country of destination: the country with the highest price was Japan ($X per ton), while the average price for exports to Brazil ($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 Japan (+24.8%), while the prices for the other major destinations experienced more modest paces of growth.

Needle Roller Bearing Imports

Imports into Belgium

Needle roller bearing imports into Belgium soared to X tons in 2021, surging by 35% on the previous year. In general, imports, however, saw a relatively flat trend pattern. Over the period under review, imports hit record highs at X tons in 2013; however, from 2014 to 2021, imports stood at a somewhat lower figure.

In value terms, needle roller bearing imports soared to $X in 2021. Over the period under review, imports saw a modest expansion. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, Germany (X tons) constituted the largest supplier of needle roller bearing to Belgium, with a 57% share of total imports. Moreover, needle roller bearing imports from Germany exceeded the figures recorded by the second-largest supplier, Poland (X tons), twofold. The third position in this ranking was taken by China (X tons), with a 4.5% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Germany totaled -3.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Poland (+131.1% per year) and China (+6.7% per year).

In value terms, Germany ($X), Poland ($X) and Japan ($X) were the largest needle roller bearing suppliers to Belgium, with a combined 90% share of total imports.

In terms of the main suppliers, Poland, with a CAGR of +130.0%, recorded the highest rates of growth with regard to 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

In 2021, the average needle roller bearing import price amounted to $X per ton, surging by 19% against the previous year. Overall, import price indicated temperate growth from 2012 to 2021: its price increased at an average annual rate of +2.3% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, needle roller bearing import price increased by +91.3% against 2017 indices. The growth pace was the most rapid in 2019 when the average import price increased by 23% against the previous year. Over the period under review, average import prices attained the peak figure in 2021 and is expected to retain growth in the immediate term.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Italy (+5.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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