Croatia: Needle Roller Bearing Market 2024

Needle Roller Bearing Market Size in Croatia

In 2021, the Croatian needle roller bearing market increased by 23% to $X, rising for the second year in a row after three years of decline. Overall, the total consumption indicated a strong expansion from 2012 to 2021: its value increased at an average annual rate of +6.9% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +24.5% against 2019 indices. Needle roller bearing consumption peaked in 2021 and is expected to retain growth in the near future.

Needle Roller Bearing Exports

Exports from Croatia

In 2021, exports of needle roller bearings from Croatia totaled X tons, increasing by 2.1% against the previous year. Over the period under review, exports recorded significant growth. The most prominent rate of growth was recorded in 2016 when exports increased by 575%. The exports peaked at X tons in 2018; however, from 2019 to 2021, the exports remained at a lower figure.

In value terms, needle roller bearing exports declined to $X in 2021. Overall, exports showed significant growth. The pace of growth appeared the most rapid in 2016 when exports increased by 1,348% against the previous year. The exports peaked at $X in 2018; however, from 2019 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Italy (X tons) was the main destination for needle roller bearing exports from Croatia, accounting for a 54% share of total exports. Moreover, needle roller bearing exports to Italy exceeded the volume sent to the second major destination, Austria (X tons), twofold. The third position in this ranking was held by North Macedonia (X kg), with a 9.6% share.

From 2012 to 2021, the average annual growth rate of volume to Italy stood at +103.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Austria (+57.0% per year) and North Macedonia (+81.4% per year).

In value terms, Italy ($X) remains the key foreign market for needle roller bearing exports from Croatia, comprising 73% of total exports. The second position in the ranking was held by Austria ($X), with a 17% share of total exports. It was followed by North Macedonia, with a 3.2% share.

From 2012 to 2021, the average annual growth rate of value to Italy totaled +127.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Austria (+61.1% per year) and North Macedonia (+85.5% per year).

Export Prices by Country

The average needle roller bearing export price stood at $X per ton in 2021, reducing by -8.8% against the previous year. In general, the export price, however, showed a resilient expansion. The growth pace was the most rapid in 2016 when the average export price increased by 115%. Over the period under review, the average export prices hit record highs at $X per ton in 2017; however, from 2018 to 2021, the export prices stood at a somewhat lower figure.

Prices varied noticeably country of destination: the country with the highest price was Slovakia ($X per ton), while the average price for exports to North Macedonia ($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 Poland (+16.4%), while the prices for the other major destinations experienced more modest paces of growth.

Needle Roller Bearing Imports

Imports into Croatia

In 2021, needle roller bearing imports into Croatia surged to X tons, jumping by 35% on the previous year's figure. Overall, total imports indicated resilient growth from 2012 to 2021: its volume increased at an average annual rate of +11.5% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +52.8% against 2019 indices. The pace of growth appeared the most rapid in 2013 when imports increased by 56% against the previous year. Imports peaked in 2021 and are expected to retain growth in the near future.

In value terms, needle roller bearing imports stood at $X in 2021. In general, imports saw a resilient expansion. The most prominent rate of growth was recorded in 2016 when imports increased by 104%. Imports peaked at $X in 2017; however, from 2018 to 2021, imports remained at a lower figure.

Imports by Country

Slovenia (X tons), Germany (X tons) and France (X tons) were the main suppliers of needle roller bearing imports to Croatia, with a combined 73% share of total imports. These countries were followed by China, the Czech Republic, Italy, the Netherlands and Austria, which together accounted for a further 19%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by the Netherlands (with a CAGR of +70.5%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X) constituted the largest supplier of needle roller bearing to Croatia, comprising 44% of total imports. The second position in the ranking was taken by Slovenia ($X), with a 19% share of total imports. It was followed by France, with a 7.7% share.

From 2012 to 2021, the average annual growth rate of value from Germany stood at +5.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Slovenia (+46.0% per year) and France (+10.0% per year).

Import Prices by Country

The average needle roller bearing import price stood at $X per ton in 2021, shrinking by -25.2% against the previous year. In general, the import price saw a pronounced reduction. The pace of growth appeared the most rapid in 2016 when the average import price increased by 77%. Over the period under review, average import prices reached the peak figure at $X per ton in 2017; however, from 2018 to 2021, import prices stood at a somewhat lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Austria (+4.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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