Croatia: Ball Bearing Parts Market 2022

Ball Bearing Parts Market Size in Croatia

The Croatian ball bearing parts market soared to $X in 2021, increasing by 33% against the previous year. The market value increased at an average annual rate of +1.4% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Ball Bearing Parts Production in Croatia

In value terms, ball bearing parts production skyrocketed to $X in 2021 estimated in export price. Over the period under review, production, however, continues to indicate a deep setback. Ball bearing parts production peaked at $X in 2012; however, from 2013 to 2021, production remained at a lower figure.

Ball Bearing Parts Exports

Exports from Croatia

In 2021, after four years of decline, there was significant growth in shipments abroad of parts of ball or roller bearings, when their volume increased by 308% to X tons. In general, exports, however, continue to indicate a significant curtailment. Over the period under review, the exports reached the peak figure at X tons in 2016; however, from 2017 to 2021, the exports remained at a lower figure.

In value terms, ball bearing parts exports surged to $X in 2021. Overall, exports, however, recorded a dramatic shrinkage. Over the period under review, the exports attained the maximum at $X in 2013; however, from 2014 to 2021, the exports remained at a lower figure.

Exports by Country

Slovenia (X tons), Germany (X tons) and Austria (X tons) were the main destinations of ball bearing parts exports from Croatia, with a combined 99% share of total exports.

From 2012 to 2021, the biggest increases were in Germany (with a CAGR of +73.6%), while shipments for the other leaders experienced mixed trend patterns.

In value terms, Germany ($X) remains the key foreign market for ball bearing parts exports from Croatia, comprising 52% of total exports. The second position in the ranking was held by Austria ($X), with a 22% share of total exports. It was followed by Slovenia, with an 18% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Germany stood at +74.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Austria (-40.6% per year) and Slovenia (+26.2% per year).

Export Prices by Country

The average ball bearing parts export price stood at $X per ton in 2021, dropping by -23.3% against the previous year. Overall, the export price showed a perceptible downturn. The growth pace was the most rapid in 2020 an increase of 42%. The export price peaked at $X per ton in 2012; however, from 2013 to 2021, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major export markets. In 2021, the country with the highest price was Hungary ($X per ton), while the average price for exports to Slovenia ($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 Hungary (+34.3%), while the prices for the other major destinations experienced more modest paces of growth.

Ball Bearing Parts Imports

Imports into Croatia

In 2021, overseas purchases of parts of ball or roller bearings were finally on the rise to reach X tons for the first time since 2016, thus ending a four-year declining trend. In general, imports continue to indicate a remarkable increase. The pace of growth appeared the most rapid in 2014 with an increase of 83% against the previous year. Over the period under review, imports reached the peak figure at X tons in 2016; however, from 2017 to 2021, imports remained at a lower figure.

In value terms, ball bearing parts imports soared to $X in 2021. Over the period under review, total imports indicated a buoyant increase from 2012 to 2021: its value increased at an average annual rate of +9.9% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2014 with an increase of 79%. Imports peaked in 2021 and are likely to see steady growth in the immediate term.

Imports by Country

In 2021, Slovenia (X tons) constituted the largest supplier of ball bearing parts to Croatia, accounting for a 48% share of total imports. Moreover, ball bearing parts imports from Slovenia exceeded the figures recorded by the second-largest supplier, Germany (X tons), fourfold. The third position in this ranking was taken by Hungary (X tons), with a 10% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Slovenia amounted to +27.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+3.2% per year) and Hungary (+74.0% per year).

In value terms, Slovenia ($X), Germany ($X) and Bulgaria ($X) were the largest ball bearing parts suppliers to Croatia, together comprising 58% of total imports. Austria, Hungary, Ukraine, the Czech Republic, Italy, Sweden and China lagged somewhat behind, together accounting for a further 35%.

Ukraine, with a CAGR of +5,276.2%, saw the highest growth rate of the value of imports, among the main suppliers 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 ball bearing parts import price amounted to $X per ton, declining by -3.1% against the previous year. In general, the import price, however, showed perceptible growth. The most prominent rate of growth was recorded in 2017 when the average import price increased by 74%. The import price peaked at $X per ton in 2019; however, from 2020 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 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 Ukraine (+44.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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