Finland: Cylindrical Roller Bearing Market 2024

Cylindrical Roller Bearing Market Size in Finland

In 2022, the Finnish cylindrical roller bearing market increased by 8% to $X for the first time since 2019, thus ending a two-year declining trend. Over the period under review, consumption, however, showed a perceptible contraction. Over the period under review, the market hit record highs at $X in 2019; however, from 2020 to 2022, consumption remained at a lower figure.

Cylindrical Roller Bearing Production in Finland

In value terms, cylindrical roller bearing production soared to $X in 2022 estimated in export price. Over the period under review, production, however, saw a abrupt contraction. Over the period under review, production hit record highs at $X in 2019; however, from 2020 to 2022, production stood at a somewhat lower figure.

Cylindrical Roller Bearing Exports

Exports from Finland

In 2022, the amount of cylindrical roller bearings exported from Finland rose remarkably to X tons, picking up by 11% compared with 2021 figures. In general, exports, however, continue to indicate a deep reduction. The growth pace was the most rapid in 2020 when exports increased by 69% against the previous year. Over the period under review, the exports attained the peak figure at X tons in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

In value terms, cylindrical roller bearing exports soared to $X in 2022. Over the period under review, exports, however, continue to indicate a abrupt downturn. The pace of growth was the most pronounced in 2019 with an increase of 177%. As a result, the exports attained the peak of $X. From 2020 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

In 2022, Germany (X tons), China (X tons) and Japan (X tons) was the key exporter of cylindrical roller bearings in the world, achieving 53% of total export. Romania (X tons) took the next position in the ranking, followed by Slovakia (X tons). All these countries together held near 13% share of total exports. 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) held a minor 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 ($X) remains the largest cylindrical roller bearing supplier from Finland, comprising 27% of global exports. The second position in the ranking was held by Japan ($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. The remaining exporting countries recorded the following average annual rates of exports growth: Japan (-0.3% per year) and China (+6.6% per year).

Export Prices by Country

In 2022, the export price in Finland amounted to $X per ton, rising by 22% against the previous year. Overall, the export price posted a noticeable increase. The most prominent rate of growth was recorded in 2019 when the export price increased by 162%. As a result, the export price reached the peak level of $X per ton. From 2020 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2022, 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 Finland

In 2022, supplies from abroad of cylindrical roller bearings was finally on the rise to reach X tons after two years of decline. In general, imports, however, continue to indicate a deep slump. The pace of growth appeared the most rapid in 2014 when imports increased by 62%. Over the period under review, imports reached the maximum at X tons in 2015; however, from 2016 to 2022, imports remained at a lower figure.

In value terms, cylindrical roller bearing imports rose notably to $X in 2022. Overall, imports, however, recorded a pronounced setback. The pace of growth appeared the most rapid in 2014 with an increase of 33% against the previous year. Over the period under review, imports hit record highs at $X in 2019; however, from 2020 to 2022, imports stood at a somewhat lower figure.

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), mixing up 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) held a little share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the leading 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) appeared to be 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 accounting for 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 Finland stood at $X per ton in 2022, increasing by 4.8% against the previous year. In general, import price indicated mild growth from 2012 to 2022: its price increased at an average annual rate of +1.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, cylindrical roller bearing import price increased by +33.6% against 2018 indices. The pace of growth was the most pronounced in 2021 when the import price increased by 28%. Finland import price peaked at $X per ton in 2013; however, from 2014 to 2022, import prices remained at a lower figure.

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

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