Finland: Bearing Market 2024

Bearing Market Size in Finland

The Finnish bearing market rose significantly to $X in 2022, increasing by X% against the previous year. The market value increased at an average annual rate of X% from 2012 to 2022; the trend pattern remained consistent, with only minor fluctuations being observed in certain years. Over the period under review, the market hit record highs in 2022 and is likely to see gradual growth in years to come.

Bearing Production in Finland

In value terms, bearing production contracted rapidly to $X in 2022 estimated in export price. Over the period under review, production showed a significant increase. The pace of growth appeared the most rapid in 2018 when the production volume increased by X% against the previous year. Bearing production peaked at $X in 2021, and then shrank remarkably in the following year.

Bearing Exports

Exports from Finland

In 2022, after two years of growth, there was significant decline in shipments abroad of ball or roller bearings, when their volume decreased by X% to X tons. Over the period under review, exports, however, continue to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2020 when exports increased by X%. The exports peaked at X tons in 2021, and then reduced in the following year.

In value terms, bearing exports contracted modestly to $X in 2022. Overall, exports saw a slight shrinkage. The most prominent rate of growth was recorded in 2018 when exports increased by X% against the previous year. Over the period under review, the exports reached the maximum at $X in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

Exports by Country

Germany (X tons), Russia (X tons) and the Netherlands (X tons) were the main destinations of bearing exports from Finland, together accounting for X% of total exports. Estonia, Sweden, China, the United States, South Korea, Brazil, France, Norway and Belgium lagged somewhat behind, together accounting for a further X%.

From 2012 to 2021, the biggest increases were recorded for South Korea (with a CAGR of X%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for bearing exported from Finland were the Netherlands ($X), Russia ($X) and Germany ($X), with a combined X% share of total exports. Sweden, South Korea, China, the United States, Estonia, Norway, Brazil, France and Belgium lagged somewhat behind, together accounting for a further X%.

Among the main countries of destination, South Korea, with a CAGR of X%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average bearing export price stood at $X per ton in 2021, jumping by X% against the previous year. Over the period under review, the export price, however, continues to indicate a perceptible setback. The pace of growth was the most pronounced in 2019 an increase of X% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2020 to 2021, the average export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Norway ($X per ton), while the average price for exports to Estonia ($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 Belgium (X%), while the prices for the other major destinations experienced more modest paces of growth.

Bearing Imports

Imports into Finland

In 2022, overseas purchases of ball or roller bearings increased by X% to X tons, rising for the second year in a row after two years of decline. The total import volume increased at an average annual rate of X% from 2012 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations in certain years. The pace of growth appeared the most rapid in 2018 with an increase of X%. Imports peaked in 2022 and are likely to see gradual growth in years to come.

In value terms, bearing imports amounted to $X in 2022. Overall, imports saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 when imports increased by X% against the previous year. Over the period under review, imports reached the maximum in 2022 and are expected to retain growth in the near future.

Imports by Country

Germany (X tons), France (X tons) and Sweden (X tons) were the main suppliers of bearing imports to Finland, with a combined X% share of total imports. China, Belgium, Italy, Romania, the Netherlands, Austria and the UK lagged somewhat behind, together accounting for a further X%.

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

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

From 2012 to 2021, the average annual growth rate of value from Germany totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: France (X% per year) and Sweden (X% per year).

Import Prices by Country

The average bearing import price stood at $X per ton in 2021, surging by X% against the previous year. Overall, the import price, however, saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2019 an increase of X% against the previous year. Over the period under review, average import prices reached the peak figure at $X per ton in 2013; however, from 2014 to 2021, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was the UK ($X per ton), while the price for China ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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