Eastern Europe: Spherical Roller Bearing Market 2024

Spherical Roller Bearing Market Size in Eastern Europe

In 2021, the East European spherical roller bearing market decreased by -0.3% to $X for the first time since 2015, thus ending a five-year rising trend. Overall, consumption, however, continues to indicate a relatively flat trend pattern. Over the period under review, the market attained the peak level at $X in 2020, and then reduced modestly in the following year.

Spherical Roller Bearing Production in Eastern Europe

In value terms, spherical roller bearing production dropped to $X in 2021 estimated in export price. Over the period under review, production saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 with an increase of 89%. The level of production peaked at $X in 2020, and then reduced in the following year.

Spherical Roller Bearing Exports

Exports in Eastern Europe

In 2021, overseas shipments of spherical roller bearings decreased by -5.8% to X tons, falling for the second year in a row after two years of growth. In general, exports showed a slight reduction. The pace of growth appeared the most rapid in 2019 with an increase of 30% against the previous year. As a result, the exports reached the peak of X tons. From 2020 to 2021, the growth of the exports failed to regain momentum.

In value terms, spherical roller bearing exports totaled $X in 2021. Over the period under review, exports recorded a perceptible downturn. The most prominent rate of growth was recorded in 2019 with an increase of 25% against the previous year. As a result, the exports attained the peak of $X. From 2020 to 2021, the growth of the exports remained at a lower figure.

Exports by Country

Romania was the key exporting country with an export of around X tons, which resulted at 43% of total exports. It was distantly followed by the Czech Republic (X tons), Belarus (X tons) and Russia (X tons), together making up a 44% share of total exports. Slovakia (X tons), Poland (X tons) and Latvia (X tons) followed a long way behind the leaders.

Romania experienced a relatively flat trend pattern with regard to volume of exports of spherical roller bearings. At the same time, Latvia (+63.3%), Poland (+6.9%), the Czech Republic (+5.2%) and Slovakia (+1.1%) displayed positive paces of growth. Moreover, Latvia emerged as the fastest-growing exporter exported in Eastern Europe, with a CAGR of +63.3% from 2012-2021. By contrast, Russia (-1.7%) and Belarus (-10.0%) illustrated a downward trend over the same period. From 2012 to 2021, the share of the Czech Republic, Latvia, Romania and Poland increased by +9.1, +3.3, +2.4 and +1.8 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest spherical roller bearing supplying countries in Eastern Europe were Romania ($X), the Czech Republic ($X) and Belarus ($X), together comprising 76% of total exports. These countries were followed by Russia, Poland, Slovakia and Latvia, which together accounted for a further 21%.

Among the main exporting countries, Latvia, with a CAGR of +23.5%, recorded the highest growth rate of 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 export price in Eastern Europe amounted to $X per ton, increasing by 11% against the previous year. Over the period under review, the export price, however, recorded a relatively flat trend pattern. The level of export peaked at $X per ton in 2012; however, from 2013 to 2021, the export prices stood at a somewhat lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Poland (+5.1%), while the other leaders experienced mixed trends in the export price figures.

Spherical Roller Bearing Imports

Imports in Eastern Europe

In 2021, the amount of spherical roller bearings imported in Eastern Europe expanded rapidly to X tons, with an increase of 6.7% compared with the previous year. The total import volume increased at an average annual rate of +1.1% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2016 with an increase of 48% against the previous year. The volume of import peaked at X tons in 2017; however, from 2018 to 2021, imports remained at a lower figure.

In value terms, spherical roller bearing imports rose sharply to $X in 2021. Over the period under review, imports, however, showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2016 when imports increased by 34% against the previous year. Over the period under review, imports attained the maximum at $X in 2017; however, from 2018 to 2021, imports failed to regain momentum.

Imports by Country

Russia represented the key importer of spherical roller bearings in Eastern Europe, with the volume of imports accounting for X tons, which was approx. 44% of total imports in 2021. Poland (X tons) ranks second in terms of the total imports with a 21% share, followed by Ukraine (12%). The following importers - Romania (X tons), Slovakia (X tons), the Czech Republic (X tons), Belarus (X tons), Hungary (X tons), Bulgaria (X tons) and Latvia (X tons) - together made up 20% of total imports.

Imports into Russia increased at an average annual rate of +3.1% from 2012 to 2021. At the same time, Latvia (+8.8%), Poland (+7.6%), Slovakia (+7.0%) and Hungary (+6.4%) displayed positive paces of growth. Moreover, Latvia emerged as the fastest-growing importer imported in Eastern Europe, with a CAGR of +8.8% from 2012-2021. By contrast, Romania (-1.1%), Bulgaria (-1.8%), Ukraine (-4.9%), the Czech Republic (-5.6%) and Belarus (-11.0%) illustrated a downward trend over the same period. While the share of Poland (+9.2 p.p.), Russia (+7.2 p.p.) and Slovakia (+1.7 p.p.) increased significantly in terms of the total imports from 2012-2021, the share of the Czech Republic (-3.4 p.p.), Belarus (-5.6 p.p.) and Ukraine (-9.3 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest spherical roller bearing importing markets in Eastern Europe were Russia ($X), Poland ($X) and Ukraine ($X), together accounting for 69% of total imports.

In terms of the main importing countries, Poland, with a CAGR of +3.2%, recorded the highest rates of growth with regard to 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 3.8% against the previous year. Overall, the import price, however, showed a slight decrease. The growth pace was the most rapid in 2018 when the import price increased by 9.9%. Over the period under review, import prices reached the maximum at $X per ton in 2012; however, from 2013 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 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 Belarus (+7.7%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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