Benelux: Needle Roller Bearing Market 2024

Needle Roller Bearing Market Size in Benelux

The Benelux needle roller bearing market skyrocketed to $X in 2021, surging by 39% against the previous year. The total consumption indicated a prominent increase from 2012 to 2021: its value increased at an average annual rate of +6.1% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the market reached the maximum level in 2021 and is likely to see steady growth in years to come.

Needle Roller Bearing Production in Benelux

In value terms, needle roller bearing production soared to $X in 2021 estimated in export price. Over the period under review, production enjoyed a significant increase. The growth pace was the most rapid in 2013 with an increase of 322%. The level of production peaked at $X in 2019; however, from 2020 to 2021, production stood at a somewhat lower figure.

Needle Roller Bearing Exports

Exports in Benelux

In 2021, after three years of decline, there was significant growth in overseas shipments of needle roller bearings, when their volume increased by 14% to X tons. Total exports indicated a modest expansion from 2012 to 2021: its volume increased at an average annual rate of +1.5% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports decreased by -26.9% against 2017 indices. The most prominent rate of growth was recorded in 2017 when exports increased by 42%. As a result, the exports reached the peak of X tons. From 2018 to 2021, the growth of the exports remained at a lower figure.

In value terms, needle roller bearing exports surged to $X in 2021. Total exports indicated a temperate increase from 2012 to 2021: its value increased at an average annual rate of +4.2% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2017 with an increase of 60% against the previous year. Over the period under review, the exports attained the maximum in 2021 and are expected to retain growth in the near future.

Exports by Country

The Netherlands represented the key exporter of needle roller bearings in Benelux, with the volume of exports amounting to X tons, which was near 79% of total exports in 2021. It was distantly followed by Belgium (X tons), mixing up a 21% share of total exports.

The Netherlands was also the fastest-growing in terms of the needle roller bearings exports, with a CAGR of +1.7% from 2012 to 2021. Belgium experienced a relatively flat trend pattern. The shares of the largest exporters remained relatively stable throughout the analyzed period.

In value terms, the largest needle roller bearing supplying countries in Benelux were the Netherlands ($X) and Belgium ($X).

Among the main exporting countries, the Netherlands, with a CAGR of +4.8%, recorded the highest growth rate of the value of exports, over the period under review.

Export Prices by Country

In 2021, the export price in Benelux amounted to $X per ton, growing by 13% against the previous year. Export price indicated a temperate increase from 2012 to 2021: its price increased at an average annual rate of +2.7% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, needle roller bearing export price increased by +71.8% against 2016 indices. The most prominent rate of growth was recorded in 2020 an increase of 22%. The level of export peaked in 2021 and is likely to continue growth in the near future.

There were significant differences in the average prices amongst the major exporting countries. In 2021, the country with the highest price was Belgium ($X per ton), while the Netherlands totaled $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the Netherlands (+3.0%).

Needle Roller Bearing Imports

Imports in Benelux

In 2021, the amount of needle roller bearings imported in Benelux skyrocketed to X tons, growing by 20% compared with 2020. Overall, imports continue to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2017 when imports increased by 41% against the previous year. The volume of import peaked in 2021 and is expected to retain growth in the near future.

In value terms, needle roller bearing imports surged to $X in 2021. In general, imports, however, continue to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2017 when imports increased by 63%. Over the period under review, imports hit record highs at $X in 2012; however, from 2013 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, the Netherlands (X tons) was the key importer of needle roller bearings, generating 79% of total imports. It was distantly followed by Belgium (X tons), constituting a 21% share of total imports.

The Netherlands experienced a relatively flat trend pattern with regard to volume of imports of needle roller bearings. Belgium experienced a relatively flat trend pattern. While the share of the Netherlands (+2.8 p.p.) increased significantly in terms of the total imports from 2012-2021, the share of Belgium (-2.7 p.p.) displayed negative dynamics.

In value terms, the largest needle roller bearing importing markets in Benelux were the Netherlands ($X) and Belgium ($X).

Belgium, with a CAGR of +1.4%, recorded the highest rates of growth with regard to the value of imports, in terms of the main importing countries over the period under review.

Import Prices by Country

The import price in Benelux stood at $X per ton in 2021, increasing by 3.4% against the previous year. In general, the import price, however, continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2017 when the import price increased by 15% against the previous year. The level of import peaked at $X per ton in 2013; however, from 2014 to 2021, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2021, the country with the highest price was Belgium ($X per ton), while the Netherlands totaled $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Belgium (+2.3%).

Source: IndexBox Platform