Ireland: Bearing Market 2024

Bearing Market Size in Ireland

The Irish bearing market shrank sharply to $X in 2022, which is down by X% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). In general, the total consumption indicated a tangible expansion from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, consumption reached the peak level of $X, and then dropped rapidly in the following year.

Bearing Exports

Exports from Ireland

In 2022, approx. X tons of ball or roller bearings were exported from Ireland; picking up by X% on 2021 figures. Overall, exports showed a buoyant increase. The pace of growth appeared the most rapid in 2019 when exports increased by X% against the previous year. The exports peaked in 2022 and are likely to see gradual growth in years to come.

In value terms, bearing exports surged to $X in 2022. In general, exports posted strong growth. The most prominent rate of growth was recorded in 2018 when exports increased by X%. Over the period under review, the exports reached the maximum in 2022 and are expected to retain growth in the near future.

Exports by Country

Germany (X tons), the UK (X tons) and Slovakia (X tons) were the main destinations of bearing exports from Ireland.

From 2012 to 2021, the biggest increases were recorded for Slovakia (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 Ireland were the UK ($X), Germany ($X) and Slovakia ($X), with a combined X% share of total exports.

Slovakia, with a CAGR of X%, recorded the highest rates of growth with regard to 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

The average bearing export price stood at $X per ton in 2021, declining by X% against the previous year. Overall, export price indicated a perceptible expansion from 2012 to 2021: its price increased at an average annual rate of X% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, bearing export price increased by X% against 2019 indices. The growth pace was the most rapid in 2020 an increase of X%. Over the period under review, the average export prices attained the maximum at $X per ton in 2014; however, from 2015 to 2021, the export prices remained at a lower figure.

There were significant differences in the average prices for the major foreign markets. In 2021, amid the top suppliers, the country with the highest price was the United States ($X per ton), while the average price for exports to Hungary ($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 Singapore (X%), while the prices for the other major destinations experienced more modest paces of growth.

Bearing Imports

Imports into Ireland

In 2022, imports of ball or roller bearings into Ireland contracted rapidly to X tons, waning by X% compared with the previous year's figure. Over the period under review, imports, however, posted a measured expansion. The pace of growth was the most pronounced in 2021 with an increase of X%. As a result, imports attained the peak of X tons, and then shrank markedly in the following year.

In value terms, bearing imports expanded significantly to $X in 2022. The total import value increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2018 with an increase of X%. Imports peaked in 2022 and are expected to retain growth in the immediate term.

Imports by Country

Germany (X tons), the UK (X tons) and China (X tons) were the main suppliers of bearing imports to Ireland, with a combined X% share of total imports. Italy, France, Belgium and the Netherlands lagged somewhat behind, together comprising 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, the largest bearing suppliers to Ireland were Germany ($X), the UK ($X) and Belgium ($X), with a combined X% share of total imports.

Belgium, with a CAGR of X%, recorded the highest growth rate of the value of imports, in terms of the main suppliers 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 bearing import price amounted to $X per ton, shrinking by X% against the previous year. Over the period under review, the import price recorded a abrupt slump. The most prominent rate of growth was recorded in 2020 when the average import price increased by X% against the previous year. Over the period under review, average import prices hit record highs at $X per ton in 2012; however, from 2013 to 2021, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Belgium ($X per ton), while the price for the UK ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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