Belgium: Spherical Roller Bearing Market 2024

Spherical Roller Bearing Market Size in Belgium

The Belgian spherical roller bearing market soared to $X in 2021, jumping by 133% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Overall, consumption posted a strong expansion. Spherical roller bearing consumption peaked in 2021 and is likely to see gradual growth in the near future.

Spherical Roller Bearing Exports

Exports from Belgium

In 2021, shipments abroad of spherical roller bearings increased by 7% to X tons, rising for the second consecutive year after two years of decline. In general, exports, however, showed a pronounced decline. The most prominent rate of growth was recorded in 2020 when exports increased by 1,154%. Over the period under review, the exports hit record highs at X tons in 2013; however, from 2014 to 2021, the exports remained at a lower figure.

In value terms, spherical roller bearing exports expanded remarkably to $X in 2021. Overall, exports, however, recorded a deep setback. The pace of growth was the most pronounced in 2020 when exports increased by 1,110%. The exports peaked at $X in 2013; however, from 2014 to 2021, the exports remained at a lower figure.

Exports by Country

Germany (X tons), Italy (X tons) and Turkey (X tons) were the main destinations of spherical roller bearing exports from Belgium, with a combined 54% share 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 Turkey (with a CAGR of +7.5%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for spherical roller bearing exported from Belgium were Germany ($X), Italy ($X) and Turkey ($X), together comprising 49% of total exports. These countries were followed by France, the Netherlands, Poland, Sweden, Austria, Finland, Spain, the Czech Republic, China and Singapore, which together accounted for a further 38%.

In terms of the main countries of destination, Poland, with a CAGR of +3.0%, recorded the highest rates of growth with regard to 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

In 2021, the average spherical roller bearing export price amounted to $X per ton, leveling off at the previous year. In general, the export price, however, continues to indicate a pronounced curtailment. The pace of growth was the most pronounced in 2016 when the average export price increased by 7.9%. Over the period under review, the average export prices attained the maximum at $X per ton in 2014; however, from 2015 to 2021, the export prices remained at a lower figure.

Prices varied noticeably country of destination: the country with the highest price was China ($X per ton), while the average price for exports to Turkey ($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 Finland (+1.2%), while the prices for the other major destinations experienced more modest paces of growth.

Spherical Roller Bearing Imports

Imports into Belgium

For the third year in a row, Belgium recorded growth in purchases abroad of spherical roller bearings, which increased by 59% to X tons in 2021. In general, imports posted notable growth. The most prominent rate of growth was recorded in 2019 with an increase of 324%. Imports peaked in 2021 and are likely to see gradual growth in the immediate term.

In value terms, spherical roller bearing imports expanded remarkably to $X in 2021. Overall, imports, however, showed a noticeable contraction. The most prominent rate of growth was recorded in 2019 when imports increased by 372% against the previous year. Over the period under review, imports reached the peak figure at $X in 2013; however, from 2014 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, Sweden (X tons) constituted the largest supplier of spherical roller bearing to Belgium, accounting for a 65% share of total imports. Moreover, spherical roller bearing imports from Sweden exceeded the figures recorded by the second-largest supplier, the UK (X tons), threefold. The third position in this ranking was taken by Malaysia (X tons), with a 6.4% share.

From 2012 to 2021, the average annual growth rate of volume from Sweden totaled +8.8%. The remaining supplying countries recorded the following average annual rates of imports growth: the UK (-4.0% per year) and Malaysia (+2.0% per year).

In value terms, the largest spherical roller bearing suppliers to Belgium were Sweden ($X), the UK ($X) and Malaysia ($X), with a combined 93% share of total imports.

Among the main suppliers, Sweden, with a CAGR of +1.8%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced a decline.

Import Prices by Country

The average spherical roller bearing import price stood at $X per ton in 2021, with a decrease of -33.9% against the previous year. In general, the import price showed a abrupt slump. The most prominent rate of growth was recorded in 2018 when the average import price increased by 44%. The import price peaked at $X per ton in 2013; however, from 2014 to 2021, import prices stood 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 the UK ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United States (-2.2%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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