Luxembourg: Ball Bearing Market 2024

Ball Bearing Market Size in Luxembourg

The Luxembourg ball bearing market skyrocketed to $X in 2021, picking up by 19% 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). The market value increased at an average annual rate of +2.2% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the market attained the maximum level in 2021 and is expected to retain growth in the immediate term.

Ball Bearing Exports

Exports from Luxembourg

For the eighth consecutive year, Luxembourg recorded growth in shipments abroad of ball bearings, which increased by 8.9% to X tons in 2021. In general, exports continue to indicate resilient growth. The pace of growth appeared the most rapid in 2018 with an increase of 126%. The exports peaked in 2021 and are likely to see gradual growth in the near future.

In value terms, ball bearing exports reached $X in 2021. Overall, exports saw a strong increase. The pace of growth appeared the most rapid in 2018 with an increase of 180% against the previous year. As a result, the exports reached the peak of $X. From 2019 to 2021, the growth of the exports remained at a lower figure.

Exports by Country

Belgium (X tons), Poland (X tons) and France (X tons) were the main destinations of ball bearing exports from Luxembourg, with a combined 82% share of total exports. Oman, the United States, Germany, Canada and China lagged somewhat behind, together accounting for a further 8.7%.

From 2012 to 2021, the biggest increases were recorded for Oman (with a CAGR of +160.7%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Belgium ($X) remains the key foreign market for ball bearings exports from Luxembourg, comprising 30% of total exports. The second position in the ranking was taken by Poland ($X), with a 14% share of total exports. It was followed by France, with a 7.9% share.

From 2012 to 2021, the average annual growth rate of value to Belgium stood at +7.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Poland (+70.5% per year) and France (+1.1% per year).

Export Prices by Country

The average ball bearing export price stood at $X per ton in 2021, which is down by -7.1% against the previous year. Overall, the export price saw a abrupt decrease. The most prominent rate of growth was recorded in 2013 an increase of 34%. The export price peaked at $X per ton in 2015; however, from 2016 to 2021, the export prices remained at a lower figure.

Prices varied noticeably country of destination: the country with the highest price was China ($X per ton), while the average price for exports to Poland ($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 (+11.2%), while the prices for the other major destinations experienced mixed trend patterns.

Ball Bearing Imports

Imports into Luxembourg

Ball bearing imports into Luxembourg rose notably to X tons in 2021, picking up by 11% compared with the previous year's figure. In general, imports saw a prominent expansion. The pace of growth appeared the most rapid in 2018 when imports increased by 30% against the previous year. Over the period under review, imports reached the peak figure in 2021 and are likely to see gradual growth in the immediate term.

In value terms, ball bearing imports surged to $X in 2021. Over the period under review, total imports indicated a prominent expansion from 2012 to 2021: its value increased at an average annual rate of +5.7% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2018 when imports increased by 24% against the previous year. Over the period under review, imports reached the maximum in 2021 and are expected to retain growth in years to come.

Imports by Country

In 2021, Germany (X tons) constituted the largest ball bearing supplier to Luxembourg, with a 63% share of total imports. Moreover, ball bearing imports from Germany exceeded the figures recorded by the second-largest supplier, Belgium (X tons), fourfold. The third position in this ranking was held by China (X tons), with a 6.8% share.

From 2012 to 2021, the average annual growth rate of volume from Germany stood at +22.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Belgium (+0.6% per year) and China (+27.5% per year).

In value terms, Germany ($X) constituted the largest supplier of ball bearings to Luxembourg, comprising 44% of total imports. The second position in the ranking was taken by Belgium ($X), with a 21% share of total imports. It was followed by the United States, with a 7% share.

From 2012 to 2021, the average annual growth rate of value from Germany amounted to +12.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Belgium (-0.4% per year) and the United States (+11.7% per year).

Import Prices by Country

The average ball bearing import price stood at $X per ton in 2021, picking up by 6.7% against the previous year. Over the period under review, the import price, however, showed a pronounced reduction. The pace of growth was the most pronounced in 2013 when the average import price increased by 26%. The import price peaked at $X per ton in 2014; however, from 2015 to 2021, import prices remained at a lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by France (+9.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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