Estonia: Cylindrical Roller Bearing Market 2024

Cylindrical Roller Bearing Market Size in Estonia

In 2022, the Estonian cylindrical roller bearing market decreased by -57.2% to $X for the first time since 2019, thus ending a two-year rising trend. In general, consumption saw a pronounced decrease. Over the period under review, the market hit record highs at $X in 2021, and then fell rapidly in the following year.

Cylindrical Roller Bearing Production in Estonia

In value terms, cylindrical roller bearing production rose slightly to $X in 2022 estimated in export price. Overall, production showed a remarkable increase. The growth pace was the most rapid in 2018 with an increase of 36% against the previous year. Over the period under review, production attained the maximum level at $X in 2020; however, from 2021 to 2022, production stood at a somewhat lower figure.

Cylindrical Roller Bearing Exports

Exports from Estonia

After two years of decline, overseas shipments of cylindrical roller bearings increased by 117% to X tons in 2022. Over the period under review, exports continue to indicate significant growth. The pace of growth was the most pronounced in 2017 with an increase of 234%. Over the period under review, the exports reached the peak figure at X tons in 2019; however, from 2020 to 2022, the exports stood at a somewhat lower figure.

In value terms, cylindrical roller bearing exports soared to $X in 2022. Overall, exports recorded a resilient increase. The pace of growth was the most pronounced in 2017 when exports increased by 139%. The Estonia exports peaked in 2022 and are likely to continue growth in years to come.

Exports by Country

The biggest shipments were from Germany (X tons), China (X tons) and Japan (X tons), together recording 53% of total export. Romania (X tons) ranks next in terms of the total exports with a 7.7% share, followed by Slovakia (5.6%). Taiwan (Chinese) (X tons), Kazakhstan (X tons), Canada (X tons), Russia (X tons), Hong Kong SAR (X tons), Poland (X tons), France (X tons) and Italy (X tons) took a relatively small share of total exports.

From 2012 to 2022, the biggest increases were recorded for Taiwan (Chinese) (with a CAGR of +43.8%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X) remains the largest cylindrical roller bearing supplier from Estonia, comprising 27% of global exports. The second position in the ranking was held by Japan ($X), with an 11% share of global exports. It was followed by China, with an 8.9% share.

In Germany, cylindrical roller bearing exports remained relatively stable over the period from 2012-2022. In the other countries, the average annual rates were as follows: Japan (-0.3% per year) and China (+6.6% per year).

Export Prices by Country

The export price in Estonia stood at $X per ton in 2022, dropping by -13.2% against the previous year. In general, the export price saw a abrupt descent. The most prominent rate of growth was recorded in 2020 when the export price increased by 52% against the previous year. The Estonia export price peaked at $X per ton in 2013; however, from 2014 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was France ($X per ton), while Russia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by France (+3.3%), while the other leaders experienced more modest paces of growth.

Cylindrical Roller Bearing Imports

Imports into Estonia

After two years of decline, overseas purchases of cylindrical roller bearings increased by 104% to X tons in 2022. Over the period under review, imports, however, showed a mild shrinkage. Over the period under review, imports reached the peak figure at X tons in 2014; however, from 2015 to 2022, imports stood at a somewhat lower figure.

In value terms, cylindrical roller bearing imports skyrocketed to $X in 2022. In general, imports, however, recorded a deep reduction. The pace of growth was the most pronounced in 2013 when imports increased by 26%. As a result, imports attained the peak of $X. From 2014 to 2022, the growth of imports failed to regain momentum.

Imports by Country

The purchases of the three major importers of cylindrical roller bearings, namely China, Russia and Germany, represented more than third of total import. It was distantly followed by the United States (X tons), constituting a 5.7% share of total imports. Spain (X tons), Mexico (X tons), Italy (X tons), Brazil (X tons), Thailand (X tons), South Korea (X tons), Indonesia (X tons), Turkey (X tons) and the Czech Republic (X tons) followed a long way behind the leaders.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by Thailand (with a CAGR of +20.0%), while imports for the other leaders experienced more modest paces of growth.

In value terms, China ($X), Germany ($X) and the United States ($X) constituted the countries with the highest levels of imports in 2022, with a combined 43% share of total imports. Mexico, Italy, Brazil, Russia, South Korea, Spain, Indonesia, Turkey, the Czech Republic and Thailand lagged somewhat behind, together comprising a further 23%.

In terms of the main importing countries, Spain, with a CAGR of +13.7%, 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

The import price in Estonia stood at $X per ton in 2022, falling by -42.8% against the previous year. Over the period under review, the import price continues to indicate a pronounced descent. The most prominent rate of growth was recorded in 2020 an increase of 22%. Over the period under review, import prices attained the maximum at $X per ton in 2021, and then fell rapidly in the following year.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was the United States ($X per ton), while Russia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Mexico (+2.6%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform