Lithuania: Cylindrical Roller Bearing Market 2024

Cylindrical Roller Bearing Market Size in Lithuania

In 2022, the Lithuanian cylindrical roller bearing market decreased by -6.5% to $X, falling for the second consecutive year after two years of growth. In general, consumption, however, continues to indicate a mild increase. Lithuania consumption peaked at $X in 2020; however, from 2021 to 2022, consumption stood at a somewhat lower figure.

Cylindrical Roller Bearing Production in Lithuania

In value terms, cylindrical roller bearing production expanded markedly to $X in 2022 estimated in export price. Overall, production posted a resilient expansion. The pace of growth appeared the most rapid in 2015 with an increase of 394% against the previous year. Lithuania production peaked at $X in 2020; however, from 2021 to 2022, production stood at a somewhat lower figure.

Cylindrical Roller Bearing Exports

Exports from Lithuania

Cylindrical roller bearing exports from Lithuania contracted to X tons in 2022, falling by -11.7% against the previous year. Overall, exports recorded a abrupt contraction. The most prominent rate of growth was recorded in 2021 with an increase of 66%. 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 shrank notably to $X in 2022. In general, exports continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when exports increased by 49% against the previous year. Over the period under review, the exports reached the peak figure at $X in 2017; however, from 2018 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

The shipments of the three major exporters of cylindrical roller bearings, namely Germany, China and Japan, represented more than half of total export. Romania (X tons) took a 7.7% share (based on physical terms) of total exports, which put it in second place, followed by Slovakia (5.6%). 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 most notable rate of growth in terms of shipments, amongst the leading exporting countries, was attained by Taiwan (Chinese) (with a CAGR of +43.8%), while the other leaders experienced more modest paces of growth.

In value terms, Germany ($X) remains the largest cylindrical roller bearing supplier from Lithuania, comprising 27% of global exports. The second position in the ranking was held by Japan ($X), with an 11% share of global exports. It was followed by China, with an 8.9% share.

From 2012 to 2022, the average annual rate of growth in terms of value in Germany was relatively modest. 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 Lithuania amounted to $X per ton, which is down by -15.5% against the previous year. In general, export price indicated a prominent increase from 2012 to 2022: its price increased at an average annual rate of +7.3% 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 export price decreased by -24.2% against 2020 indices. The growth pace was the most rapid in 2013 an increase of 81% against the previous year. The Lithuania export price peaked at $X per ton in 2020; however, from 2021 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 Lithuania

In 2022, the amount of cylindrical roller bearings imported into Lithuania reduced notably to X tons, dropping by -38.7% compared with the year before. In general, imports continue to indicate a abrupt decline. The growth pace was the most rapid in 2017 with an increase of 55%. Over the period under review, imports hit record highs at X tons in 2013; however, from 2014 to 2022, imports failed to regain momentum.

In value terms, cylindrical roller bearing imports reduced notably to $X in 2022. Over the period under review, imports recorded a perceptible decline. The pace of growth was the most pronounced in 2017 when imports increased by 29%. Lithuania imports peaked at $X in 2013; however, from 2014 to 2022, imports remained at a 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), making 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) took a relatively small share of total imports.

From 2012 to 2022, the biggest increases were recorded for Thailand (with a CAGR of +20.0%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, China ($X), Germany ($X) and the United States ($X) were the countries with the highest levels of imports in 2022, together accounting for 43% 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%.

Spain, with a CAGR of +13.7%, recorded the highest growth rate of the value of imports, among the main importing countries 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 Lithuania stood at $X per ton in 2022, growing by 25% against the previous year. Over the period under review, the import price enjoyed a strong increase. The most prominent rate of growth was recorded in 2015 when the import price increased by 68%. Over the period under review, import prices attained the maximum in 2022 and is expected to retain growth in years to come.

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