EU: Tapered Roller Bearing Market 2024

Tapered Roller Bearing Market Size in the EU

In 2021, after three years of decline, there was significant growth in the EU tapered roller bearing market, when its value increased by 15% to $X. In general, consumption, however, recorded a relatively flat trend pattern. Over the period under review, the market hit record highs at $X in 2014; however, from 2015 to 2021, consumption stood at a somewhat lower figure.

Tapered Roller Bearing Production in the EU

In value terms, tapered roller bearing production reduced modestly to $X in 2021 estimated in export price. Over the period under review, production recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 when the production volume increased by 10%. Over the period under review, production attained the peak level at $X in 2014; afterwards, it flattened through to 2021.

Tapered Roller Bearing Exports

Exports in the EU

In 2021, the amount of tapered roller bearings exported in the European Union expanded markedly to X tons, increasing by 13% against the previous year's figure. Overall, exports continue to indicate a relatively flat trend pattern. Over the period under review, the exports reached the peak figure at X tons in 2014; however, from 2015 to 2021, the exports remained at a lower figure.

In value terms, tapered roller bearing exports skyrocketed to $X in 2021. In general, exports continue to indicate a mild expansion. The level of export peaked at $X in 2014; afterwards, it flattened through to 2021.

Exports by Country

Germany represented the key exporting country with an export of around X tons, which reached 30% of total exports. France (X tons) took the second position in the ranking, followed by Austria (X tons), Romania (X tons), Poland (X tons) and the Netherlands (X tons). All these countries together held near 50% share of total exports. Hungary (X tons), Italy (X tons), Slovakia (X tons), Spain (X tons) and Belgium (X tons) held a relatively small share of total exports.

Exports from Germany increased at an average annual rate of +4.3% from 2012 to 2021. At the same time, Slovakia (+8.8%), Romania (+6.2%), Poland (+3.6%) and the Netherlands (+3.0%) displayed positive paces of growth. Moreover, Slovakia emerged as the fastest-growing exporter exported in the European Union, with a CAGR of +8.8% from 2012-2021. Italy, Hungary and France experienced a relatively flat trend pattern. By contrast, Austria (-4.9%), Belgium (-5.9%) and Spain (-9.7%) illustrated a downward trend over the same period. While the share of Germany (+7.9 p.p.), Romania (+3.9 p.p.), Poland (+2 p.p.) and Slovakia (+1.9 p.p.) increased significantly in terms of the total exports from 2012-2021, the share of Belgium (-1.6 p.p.), France (-1.9 p.p.), Spain (-4.7 p.p.) and Austria (-7.9 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Germany ($X) remains the largest tapered roller bearing supplier in the European Union, comprising 37% of total exports. The second position in the ranking was taken by France ($X), with a 16% share of total exports. It was followed by Romania, with an 11% share.

In Germany, tapered roller bearing exports increased at an average annual rate of +3.7% over the period from 2012-2021. The remaining exporting countries recorded the following average annual rates of exports growth: France (-1.3% per year) and Romania (+3.6% per year).

Export Prices by Country

The export price in the European Union stood at $X per ton in 2021, with an increase of 2.2% against the previous year. Over the period under review, the export price continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2018 an increase of 7.7%. Over the period under review, the export prices attained the peak figure in 2021 and is expected to retain growth in the immediate term.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Austria (+3.9%), while the other leaders experienced more modest paces of growth.

Tapered Roller Bearing Imports

Imports in the EU

In 2021, purchases abroad of tapered roller bearings was finally on the rise to reach X tons after two years of decline. The total import volume increased at an average annual rate of +2.1% from 2012 to 2021; the trend pattern remained relatively stable, with only minor fluctuations being recorded in certain years. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, tapered roller bearing imports soared to $X in 2021. Over the period under review, imports showed a relatively flat trend pattern. The level of import peaked at $X in 2014; afterwards, it flattened through to 2021.

Imports by Country

In 2021, Germany (X tons) represented the main importer of tapered roller bearings, constituting 36% of total imports. It was distantly followed by France (X tons), Italy (X tons), Sweden (X tons), Belgium (X tons), the Netherlands (X tons), Spain (X tons) and Denmark (X tons), together constituting a 51% share of total imports.

Germany experienced a relatively flat trend pattern with regard to volume of imports of tapered roller bearings. At the same time, Denmark (+19.7%), Spain (+10.3%), Sweden (+2.6%), the Netherlands (+2.2%), Italy (+2.0%) and France (+1.9%) displayed positive paces of growth. Moreover, Denmark emerged as the fastest-growing importer imported in the European Union, with a CAGR of +19.7% from 2012-2021. By contrast, Belgium (-1.3%) illustrated a downward trend over the same period. Denmark (+3.5 p.p.) and Spain (+2.6 p.p.) significantly strengthened its position in terms of the total imports, while Belgium and Germany saw its share reduced by -1.8% and -5.6% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Germany ($X) constitutes the largest market for imported tapered roller bearings in the European Union, comprising 34% of total imports. The second position in the ranking was held by France ($X), with a 15% share of total imports. It was followed by Italy, with a 9.2% share.

In Germany, tapered roller bearing imports remained relatively stable over the period from 2012-2021. The remaining importing countries recorded the following average annual rates of imports growth: France (-0.0% per year) and Italy (-0.7% per year).

Import Prices by Country

The import price in the European Union stood at $X per ton in 2021, declining by -2.2% against the previous year. Over the period under review, the import price continues to indicate a mild shrinkage. The most prominent rate of growth was recorded in 2020 when the import price increased by 4.6%. Over the period under review, import prices hit record highs at $X per ton in 2012; however, from 2013 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 Denmark ($X per ton), while Spain ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the Netherlands (-0.9%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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