Finland: Ball Bearing Market 2024

Ball Bearing Market Size in Finland

The Finnish ball bearing market rose significantly to $X in 2021, picking up by 8.3% against the previous year. In general, consumption recorded a relatively flat trend pattern. Ball bearing consumption peaked at $X in 2019; however, from 2020 to 2021, consumption failed to regain momentum.

Ball Bearing Production in Finland

In value terms, ball bearing production reduced dramatically to $X in 2021 estimated in export price. Overall, production faced a dramatic downturn. The pace of growth appeared the most rapid in 2019 when the production volume increased by 4,632%. Ball bearing production peaked at $X in 2012; however, from 2013 to 2021, production stood at a somewhat lower figure.

Ball Bearing Exports

Exports from Finland

In 2021, overseas shipments of ball bearings increased by 30% to X tons, rising for the fourth year in a row after four years of decline. Overall, total exports indicated a temperate expansion from 2012 to 2021: its volume increased at an average annual rate of +3.1% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +95.5% against 2017 indices. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, ball bearing exports skyrocketed to $X in 2021. In general, exports, however, continue to indicate a slight downturn. The exports peaked at $X in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Russia (X tons), Germany (X tons) and Estonia (X tons) were the main destinations of ball bearing exports from Finland, together comprising 64% of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Germany (with a CAGR of +35.7%), while the other leaders experienced more modest paces of growth.

In value terms, Russia ($X), Germany ($X) and the Netherlands ($X) appeared to be the largest markets for ball bearing exported from Finland worldwide, with a combined 49% share of total exports.

Germany, with a CAGR of +25.9%, recorded the highest growth rate of the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average ball bearing export price stood at $X per ton in 2021, surging by 2.4% against the previous year. In general, the export price, however, continues to indicate a perceptible descent. The most prominent rate of growth was recorded in 2017 an increase of 4.5% against the previous year. Over the period under review, the average export prices hit record highs at $X per ton in 2012; however, from 2013 to 2021, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major external markets. In 2021, the country with the highest price was the Netherlands ($X per ton), while the average price for exports to Estonia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to China (-0.5%), while the prices for the other major destinations experienced a decline.

Ball Bearing Imports

Imports into Finland

After two years of decline, overseas purchases of ball bearings increased by 11% to X tons in 2021. The total import volume increased at an average annual rate of +1.9% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2017 with an increase of 20% against the previous year. Imports peaked at X tons in 2018; however, from 2019 to 2021, imports remained at a lower figure.

In value terms, ball bearing imports expanded rapidly to $X in 2021. Over the period under review, imports showed a relatively flat trend pattern. The growth pace was the most rapid in 2018 when imports increased by 17% against the previous year. Over the period under review, imports reached the peak figure in 2021 and are expected to retain growth in the near future.

Imports by Country

Germany (X tons), France (X tons) and China (X tons) were the main suppliers of ball bearing imports to Finland, with a combined 67% share of total imports. These countries were followed by Italy, Poland, Belgium, Sweden, the Netherlands, Japan and Austria, which together accounted for a further 28%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Poland (with a CAGR of +16.6%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X) constituted the largest supplier of ball bearings to Finland, comprising 41% of total imports. The second position in the ranking was held by France ($X), with a 14% share of total imports. It was followed by Italy, with an 11% share.

From 2012 to 2021, the average annual growth rate of value from Germany amounted to +4.0%. The remaining supplying countries recorded the following average annual rates of imports growth: France (+5.2% per year) and Italy (+3.6% per year).

Import Prices by Country

In 2021, the average ball bearing import price amounted to $X per ton, flattening at the previous year. Overall, the import price saw a slight setback. The most prominent rate of growth was recorded in 2019 when the average import price increased by 7.4%. Over the period under review, average import prices reached the peak figure at $X per ton in 2014; however, from 2015 to 2021, import prices stood at a somewhat lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Belgium (+9.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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