Greece: Spherical Roller Bearing Market 2024

Spherical Roller Bearing Market Size in Greece

In 2021, the Greek spherical roller bearing market increased by 26% to $X for the first time since 2018, thus ending a two-year declining trend. In general, the total consumption indicated a pronounced increase from 2012 to 2021: its value increased at an average annual rate of +3.6% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, consumption reached the peak level of $X. From 2017 to 2021, the growth of the market failed to regain momentum.

Spherical Roller Bearing Exports

Exports from Greece

In 2021, exports of spherical roller bearings from Greece soared to X tons, picking up by 46% on the previous year's figure. In general, exports, however, continue to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2017 with an increase of 197% against the previous year. As a result, the exports attained the peak of X tons. From 2018 to 2021, the growth of the exports failed to regain momentum.

In value terms, spherical roller bearing exports soared to $X in 2021. Over the period under review, exports posted noticeable growth. The pace of growth was the most pronounced in 2017 when exports increased by 109% against the previous year. The exports peaked in 2021 and are likely to see steady growth in the near future.

Exports by Country

Cyprus (X tons), Nigeria (X tons) and Bulgaria (X kg) were the main destinations of spherical roller bearing exports from Greece, together comprising 68% of total exports. These countries were followed by Israel, Romania, Poland, the United States, Italy and Estonia, which together accounted for a further 20%.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by the United States (with a CAGR of +68.0%), while the other leaders experienced more modest paces of growth.

In value terms, Cyprus ($X), Nigeria ($X) and Bulgaria ($X) were the largest markets for spherical roller bearing exported from Greece worldwide, with a combined 54% share of total exports. These countries were followed by Poland, Italy, the United States, Israel, Romania and Estonia, which together accounted for a further 25%.

The United States, with a CAGR of +51.5%, saw the highest growth rate of the value of exports, in terms of 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

In 2021, the average spherical roller bearing export price amounted to $X per ton, growing by 15% against the previous year. Overall, export price indicated a resilient increase from 2012 to 2021: its price increased at an average annual rate of +5.3% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, spherical roller bearing export price increased by +11.9% against 2018 indices. The growth pace was the most rapid in 2018 an increase of 48%. The export price peaked at $X per ton in 2014; however, from 2015 to 2021, the export prices remained at a lower figure.

Prices varied noticeably country of destination: the country with the highest price was Italy ($X per ton), while the average price for exports to Romania ($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 Estonia (+18.6%), while the prices for the other major destinations experienced more modest paces of growth.

Spherical Roller Bearing Imports

Imports into Greece

In 2021, after four years of decline, there was significant growth in overseas purchases of spherical roller bearings, when their volume increased by 35% to X tons. In general, imports saw a modest expansion. The most prominent rate of growth was recorded in 2016 with an increase of 90%. As a result, imports attained the peak of X tons. From 2017 to 2021, the growth of imports failed to regain momentum.

In value terms, spherical roller bearing imports skyrocketed to $X in 2021. The total import value increased at an average annual rate of +3.9% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2016 when imports increased by 34% against the previous year. Imports peaked in 2021 and are expected to retain growth in the immediate term.

Imports by Country

Belgium (X tons), Germany (X tons) and the Netherlands (X tons) were the main suppliers of spherical roller bearing imports to Greece, with a combined 65% share of total imports. These countries were followed by Italy, France, China and Sweden, which together accounted for a further 28%.

From 2012 to 2021, the biggest increases were recorded for China (with a CAGR of +105.7%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X), Belgium ($X) and the Netherlands ($X) appeared to be the largest spherical roller bearing suppliers to Greece, with a combined 69% share of total imports. These countries were followed by France, Italy, Sweden and China, which together accounted for a further 23%.

Among the main suppliers, China, with a CAGR of +96.0%, recorded the highest growth rate of 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

In 2021, the average spherical roller bearing import price amounted to $X per ton, which is down by -8.2% against the previous year. Over the period under review, import price indicated a mild increase from 2012 to 2021: its price increased at an average annual rate of +1.9% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, spherical roller bearing import price increased by +53.4% against 2016 indices. The most prominent rate of growth was recorded in 2018 an increase of 28% against the previous year. The import price peaked at $X per ton in 2014; however, from 2015 to 2021, import prices failed to regain momentum.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Germany (+4.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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