Eastern Europe: Ball Bearing Market 2024

Ball Bearing Market Size in Eastern Europe

The East European ball bearing market was finally on the rise to reach $X in 2021, after three years of decline. The total consumption indicated mild growth from 2012 to 2021: its value increased at an average annual rate of +1.2% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption decreased by -21.8% against 2017 indices. As a result, consumption reached the peak level of $X. From 2014 to 2021, the growth of the market failed to regain momentum.

Ball Bearing Production in Eastern Europe

In value terms, ball bearing production rose modestly to $X in 2021 estimated in export price. Over the period under review, production recorded a deep slump. The pace of growth was the most pronounced in 2014 with an increase of 14% against the previous year. The level of production peaked at $X in 2017; however, from 2018 to 2021, production remained at a lower figure.

Ball Bearing Exports

Exports in Eastern Europe

In 2021, overseas shipments of ball bearings were finally on the rise to reach X tons after two years of decline. Over the period under review, exports saw a relatively flat trend pattern. The volume of export peaked at X tons in 2018; however, from 2019 to 2021, the exports remained at a lower figure.

In value terms, ball bearing exports skyrocketed to $X in 2021. The total export value increased at an average annual rate of +1.9% from 2012 to 2021; the trend pattern remained consistent, with only minor fluctuations in certain years. Over the period under review, the exports reached the peak figure at $X in 2018; however, from 2019 to 2021, the exports remained at a lower figure.

Exports by Country

In 2021, Poland (X tons) was the major exporter of ball bearings, generating 33% of total exports. Slovakia (X tons) held a 16% share (based on physical terms) of total exports, which put it in second place, followed by Romania (12%), Hungary (8.5%), Bulgaria (7.7%), Russia (6.4%), the Czech Republic (6.2%) and Latvia (6%).

From 2012 to 2021, average annual rates of growth with regard to ball bearing exports from Poland stood at +4.1%. At the same time, Latvia (+61.2%), the Czech Republic (+5.4%), Bulgaria (+5.1%), Hungary (+4.8%) and Russia (+1.1%) displayed positive paces of growth. Moreover, Latvia emerged as the fastest-growing exporter exported in Eastern Europe, with a CAGR of +61.2% from 2012-2021. Romania experienced a relatively flat trend pattern. By contrast, Slovakia (-6.4%) illustrated a downward trend over the same period. Poland (+8.7 p.p.), Latvia (+5.9 p.p.), Hungary (+2.6 p.p.), Bulgaria (+2.5 p.p.) and the Czech Republic (+2.1 p.p.) significantly strengthened its position in terms of the total exports, while Romania and Slovakia saw its share reduced by -1.6% and -14.6% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Poland ($X), Slovakia ($X) and the Czech Republic ($X) were the countries with the highest levels of exports in 2021, together accounting for 63% of total exports. These countries were followed by Romania, Bulgaria, Hungary, Russia and Latvia, which together accounted for a further 33%.

Latvia, with a CAGR of +34.7%, saw the highest growth rate of the value of exports, in terms of the main exporting countries over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the export price in Eastern Europe amounted to $X per ton, rising by 5.1% against the previous year. Over the last nine-year period, it increased at an average annual rate of +1.3%. The most prominent rate of growth was recorded in 2013 when the export price increased by 6.1% against the previous year. Over the period under review, the export prices attained the maximum in 2021 and is expected to retain growth in years to come.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Slovakia (+4.2%), while the other leaders experienced more modest paces of growth.

Ball Bearing Imports

Imports in Eastern Europe

After four years of decline, supplies from abroad of ball bearings increased by 19% to X tons in 2021. In general, imports showed a relatively flat trend pattern. The growth pace was the most rapid in 2013 when imports increased by 29% against the previous year. As a result, imports attained the peak of X tons. From 2014 to 2021, the growth of imports remained at a somewhat lower figure.

In value terms, ball bearing imports skyrocketed to $X in 2021. The total import value increased at an average annual rate of +3.8% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

Russia (X tons) and Poland (X tons) represented roughly 45% of total imports in 2021. The Czech Republic (X tons) took the next position in the ranking, followed by Romania (X tons), Hungary (X tons), Slovakia (X tons), Ukraine (X tons) and Latvia (X tons). All these countries together held near 47% share of total imports.

From 2012 to 2021, the biggest increases were recorded for Latvia (with a CAGR of +28.7%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest ball bearing importing markets in Eastern Europe were Poland ($X), Russia ($X) and the Czech Republic ($X), together comprising 56% of total imports. These countries were followed by Hungary, Romania, Slovakia, Ukraine and Latvia, which together accounted for a further 37%.

In terms of the main importing countries, Latvia, with a CAGR of +11.2%, recorded the highest growth rate of 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 import price in Eastern Europe amounted to $X per ton, with an increase of 4.5% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +3.4%. The growth pace was the most rapid in 2014 an increase of 26% against the previous year. Over the period under review, import prices hit record highs at $X per ton in 2018; however, from 2019 to 2021, import prices failed to regain momentum.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Slovakia (+13.3%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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