Europe: Tapered Roller Bearing Market 2024

Tapered Roller Bearing Market Size in Europe

In 2021, after three years of decline, there was significant growth in the Europe tapered roller bearing market, when its value increased by 16% to $X. In general, consumption, however, continues to indicate 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 failed to regain momentum.

Tapered Roller Bearing Production in Europe

In value terms, tapered roller bearing production expanded to $X in 2021 estimated in export price. In general, production, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 when the production volume increased by 8.8% against the previous year. Over the period under review, production attained the maximum level at $X in 2014; however, from 2015 to 2021, production remained at a lower figure.

Tapered Roller Bearing Exports

Exports in Europe

In 2021, exports of tapered roller bearings in Europe amounted to X tons, picking up by 13% compared with the previous year's figure. Over the period under review, exports saw a relatively flat trend pattern. The volume of export peaked at X tons in 2014; however, from 2015 to 2021, the exports remained at a lower figure.

In value terms, tapered roller bearing exports soared to $X in 2021. Overall, exports continue to indicate a relatively flat trend pattern. The level of export peaked at $X in 2014; however, from 2015 to 2021, the exports remained at a lower figure.

Exports by Country

In 2021, Germany (X tons), distantly followed by France (X tons), Austria (X tons), Romania (X tons), Poland (X tons) and the Netherlands (X tons) were the main exporters of tapered roller bearings, together generating 74% of total exports. Hungary (X tons), Italy (X tons), Slovakia (X tons), Ukraine (X tons), Spain (X tons), Russia (X tons) and Belgium (X tons) held a minor 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 Europe, with a CAGR of +8.8% from 2012-2021. Italy, Hungary and France experienced a relatively flat trend pattern. By contrast, Russia (-1.7%), Ukraine (-3.8%), Austria (-4.9%), Belgium (-5.9%) and Spain (-9.7%) illustrated a downward trend over the same period. While the share of Germany (+8.1 p.p.), Romania (+3.8 p.p.), Poland (+2.1 p.p.) and Slovakia (+1.8 p.p.) increased significantly in terms of the total exports from 2012-2021, the share of Spain (-4.2 p.p.) and Austria (-6.8 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Germany ($X) remains the largest tapered roller bearing supplier in Europe, comprising 36% of total exports. The second position in the ranking was taken by France ($X), with a 15% share of total exports. It was followed by Romania, with a 10% share.

In Germany, tapered roller bearing exports increased at an average annual rate of +3.7% over the period from 2012-2021. In the other countries, the average annual rates were as follows: France (-1.3% per year) and Romania (+3.6% per year).

Export Prices by Country

In 2021, the export price in Europe amounted to $X per ton, rising by 2.5% against the previous year. Over the period under review, the export price saw a relatively flat trend pattern. The growth pace was the most rapid in 2018 when the export price increased by 8.3%. The level of export peaked in 2021 and is expected to retain growth in years to come.

Prices varied noticeably country of origin: the country with the highest price was Germany ($X per ton), while Ukraine ($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 Europe

In 2021, supplies from abroad of tapered roller bearings increased by 19% to X tons for the first time since 2018, thus ending a two-year declining trend. The total import volume increased at an average annual rate of +2.0% from 2012 to 2021; the trend pattern remained consistent, with somewhat noticeable fluctuations being observed throughout the analyzed period. 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. Overall, imports saw a relatively flat trend pattern. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, Germany (X tons) represented the main importer of tapered roller bearings, comprising 31% of total imports. France (X tons) held the second position in the ranking, followed by Italy (X tons), Russia (X tons), Sweden (X tons), Belgium (X tons), the Netherlands (X tons) and Spain (X tons). All these countries together held near 48% share of total imports. Denmark (X tons), Poland (X tons), the UK (X tons), Hungary (X tons) and the Czech Republic (X tons) followed a long way behind the leaders.

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%), Russia (+10.1%), Hungary (+5.6%), Poland (+5.1%), 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 Europe, with a CAGR of +19.7% from 2012-2021. The Czech Republic experienced a relatively flat trend pattern. By contrast, the UK (-1.2%) and Belgium (-1.3%) illustrated a downward trend over the same period. While the share of Russia (+3.3 p.p.), Denmark (+3.1 p.p.) and Spain (+2.3 p.p.) increased significantly in terms of the total imports from 2012-2021, the share of Belgium (-1.6 p.p.) and Germany (-4.7 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Germany ($X) constitutes the largest market for imported tapered roller bearings in Europe, comprising 30% of total imports. The second position in the ranking was held by France ($X), with a 13% share of total imports. It was followed by Italy, with an 8.1% share.

From 2012 to 2021, the average annual growth rate of value in Germany was relatively modest. 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 Europe stood at $X per ton in 2021, stabilizing at the previous year. Over the period under review, the import price saw a slight curtailment. The growth pace was the most rapid in 2018 when the import price increased by 4.5%. Over the period under review, import prices reached the peak figure at $X per ton in 2012; however, from 2013 to 2021, import prices stood at a somewhat lower figure.

Prices varied noticeably country of destination: the country with the highest price was the UK ($X per ton), while Russia ($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 Czech Republic (+1.8%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform