Hungary: Needle Roller Bearing Market 2024

Needle Roller Bearing Market Size in Hungary

The Hungarian needle roller bearing market skyrocketed to $X in 2021, with an increase of 31% against the previous year. Over the period under review, consumption showed buoyant growth. Over the period under review, the market hit record highs in 2021 and is likely to see gradual growth in the near future.

Needle Roller Bearing Production in Hungary

In value terms, needle roller bearing production shrank notably to $X in 2021 estimated in export price. Overall, production, however, enjoyed a prominent expansion. The most prominent rate of growth was recorded in 2020 when the production volume increased by 216% against the previous year. As a result, production attained the peak level of $X, and then reduced remarkably in the following year.

Needle Roller Bearing Exports

Exports from Hungary

In 2021, approx. X tons of needle roller bearings were exported from Hungary; waning by -21.2% against the previous year. Overall, total exports indicated a notable increase from 2012 to 2021: its volume increased at an average annual rate of +4.6% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports decreased by -21.8% against 2017 indices. The growth pace was the most rapid in 2013 with an increase of 121%. Over the period under review, the exports attained the maximum at X tons in 2014; however, from 2015 to 2021, the exports remained at a lower figure.

In value terms, needle roller bearing exports declined significantly to $X in 2021. Over the period under review, exports, however, showed buoyant growth. The pace of growth appeared the most rapid in 2014 when exports increased by 124% against the previous year. As a result, the exports reached the peak of $X. From 2015 to 2021, the growth of the exports failed to regain momentum.

Exports by Country

China (X tons), Germany (X tons) and the UK (X tons) were the main destinations of needle roller bearing exports from Hungary, together accounting for 46% 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 the UK (with a CAGR of +50.4%), while the other leaders experienced more modest paces of growth.

In value terms, China ($X) remains the key foreign market for needle roller bearing exports from Hungary, comprising 41% of total exports. The second position in the ranking was taken by Germany ($X), with an 11% share of total exports. It was followed by the UK, with an 8.6% share.

From 2012 to 2021, the average annual rate of growth in terms of value to China amounted to +5.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (-0.0% per year) and the UK (+233.9% per year).

Export Prices by Country

The average needle roller bearing export price stood at $X per ton in 2021, which is down by -5.1% against the previous year. Over the period under review, export price indicated a mild expansion from 2012 to 2021: its price increased at an average annual rate of +1.7% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, needle roller bearing export price increased by +23.7% against 2017 indices. The most prominent rate of growth was recorded in 2014 an increase of 79% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2015 to 2021, the average export prices remained at a lower figure.

Prices varied noticeably country of destination: the country with the highest price was China ($X per ton), while the average price for exports to Romania ($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 China (+7.5%), while the prices for the other major destinations experienced mixed trend patterns.

Needle Roller Bearing Imports

Imports into Hungary

After three years of decline, supplies from abroad of needle roller bearings increased by 61% to X tons in 2021. In general, total imports indicated a remarkable increase from 2012 to 2021: its volume increased at an average annual rate of +7.3% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2013 with an increase of 83% against the previous year. Imports peaked in 2021 and are likely to continue growth in the immediate term.

In value terms, needle roller bearing imports skyrocketed to $X in 2021. Overall, imports showed a resilient expansion. The pace of growth was the most pronounced in 2013 with an increase of 57%. Over the period under review, imports hit record highs in 2021 and are likely to continue growth in the near future.

Imports by Country

In 2021, Germany (X tons) constituted the largest supplier of needle roller bearing to Hungary, with a 72% share of total imports. Moreover, needle roller bearing imports from Germany exceeded the figures recorded by the second-largest supplier, China (X tons), fourfold. The United States (X tons) ranked third in terms of total imports with a 3.6% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Germany amounted to +7.9%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+45.5% per year) and the United States (-13.3% per year).

In value terms, Germany ($X) constituted the largest supplier of needle roller bearing to Hungary, comprising 77% of total imports. The second position in the ranking was held by China ($X), with a 13% share of total imports. It was followed by the United States, with a 2.6% share.

From 2012 to 2021, the average annual growth rate of value from Germany stood at +13.9%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+45.2% per year) and the United States (-11.7% per year).

Import Prices by Country

In 2021, the average needle roller bearing import price amounted to $X per ton, declining by -19.6% against the previous year. Over the period under review, the import price, however, saw perceptible growth. The pace of growth appeared the most rapid in 2020 when the average import price increased by 45% against the previous year. As a result, import price attained the peak level of $X per ton, and then contracted dramatically in the following year.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Italy (+16.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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