Estonia: Market for Bearing Housings Incorporating Ball Or Roller Bearings 2024

Market Size for Bearing Housings Incorporating Ball Or Roller Bearings in Estonia

In 2022, the Estonian market for bearing housings incorporating ball or roller bearings increased by 3.1% to $X, rising for the third year in a row after two years of decline. Over the period under review, the total consumption indicated a moderate expansion from 2012 to 2022: its value increased at an average annual rate of +4.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +22.9% against 2019 indices. As a result, consumption reached the peak level of $X. From 2018 to 2022, the growth of the market remained at a somewhat lower figure.

Production of Bearing Housings Incorporating Ball Or Roller Bearings in Estonia

In value terms, bearing housing with ball bearing production dropped to $X in 2022 estimated in export price. Overall, production, however, enjoyed a pronounced expansion. The most prominent rate of growth was recorded in 2015 with an increase of 128%. As a result, production attained the peak level of $X. From 2016 to 2022, production growth remained at a lower figure.

Exports of Bearing Housings Incorporating Ball Or Roller Bearings

Exports from Estonia

Bearing housing with ball bearing exports from Estonia skyrocketed to X tons in 2022, with an increase of 109% on 2021. In general, exports enjoyed a remarkable increase. The pace of growth appeared the most rapid in 2017 with an increase of 229% against the previous year. Over the period under review, the exports reached the peak figure in 2022 and are expected to retain growth in the immediate term.

In value terms, bearing housing with ball bearing exports soared to $X in 2022. Over the period under review, exports recorded resilient growth. The most prominent rate of growth was recorded in 2017 when exports increased by 274%. Over the period under review, the exports attained the maximum in 2022 and are expected to retain growth in the near future.

Exports by Country

Kazakhstan (X tons) was the main destination for bearing housing with ball bearing exports from Estonia, with a 50% share of total exports. Moreover, bearing housing with ball bearing exports to Kazakhstan exceeded the volume sent to the second major destination, Lithuania (X tons), threefold. The third position in this ranking was taken by Italy (X tons), with an 8.2% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Kazakhstan was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Lithuania (+79.3% per year) and Italy (+2.0% per year).

In value terms, Kazakhstan ($X) emerged as the key foreign market for bearing housings incorporating ball or roller bearings exports from Estonia, comprising 47% of total exports. The second position in the ranking was taken by Lithuania ($X), with an 11% share of total exports. It was followed by Germany, with a 10% share.

From 2012 to 2022, the average annual growth rate of value to Kazakhstan was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Lithuania (+70.7% per year) and Germany (+114.0% per year).

Export Prices by Country

In 2022, the average export price for bearing housings incorporating ball or roller bearings amounted to $X per ton, declining by -23% against the previous year. In general, the export price, however, recorded a temperate expansion. The pace of growth was the most pronounced in 2021 when the average export price increased by 26% against the previous year. As a result, the export price attained the peak level of $X per ton, and then dropped sharply in the following year.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Germany ($X per ton), while the average price for exports to Kyrgyzstan ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Italy (+10.1%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Bearing Housings Incorporating Ball Or Roller Bearings

Imports into Estonia

Bearing housing with ball bearing imports into Estonia surged to X tons in 2022, with an increase of 22% compared with the previous year. Overall, imports saw a buoyant expansion. The pace of growth appeared the most rapid in 2018 with an increase of 130%. Imports peaked in 2022 and are likely to see steady growth in the near future.

In value terms, bearing housing with ball bearing imports soared to $X in 2022. Over the period under review, imports recorded prominent growth. The pace of growth was the most pronounced in 2018 with an increase of 57%. Imports peaked in 2022 and are likely to see gradual growth in the immediate term.

Imports by Country

In 2022, Italy (X tons) constituted the largest bearing housing with ball bearing supplier to Estonia, with a 22% share of total imports. Moreover, bearing housing with ball bearing imports from Italy exceeded the figures recorded by the second-largest supplier, China (X tons), twofold. Spain (X tons) ranked third in terms of total imports with an 11% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Italy amounted to +25.3%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+12.5% per year) and Spain (+62.2% per year).

In value terms, the largest bearing housing with ball bearing suppliers to Estonia were Italy ($X), China ($X) and France ($X), with a combined 40% share of total imports. Germany, Spain, Serbia, Finland, Vietnam, Japan, Latvia and Slovakia lagged somewhat behind, together accounting for a further 44%.

In terms of the main suppliers, Vietnam, with a CAGR of +102.8%, 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 2022, the average import price for bearing housings incorporating ball or roller bearings amounted to $X per ton, growing by 4.8% against the previous year. Overall, the import price, however, showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2019 when the average import price increased by 23% against the previous year. The import price peaked at $X per ton in 2013; however, from 2014 to 2022, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Germany ($X per ton), while the price for Vietnam ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Malaysia (+17.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform