Luxembourg: Bearing Market 2024

Bearing Market Size in Luxembourg

In 2022, the Luxembourg bearing market increased by X% to $X, rising for the second year in a row after three years of decline. In general, consumption, however, continues to indicate a noticeable downturn. Over the period under review, the market attained the peak level at $X in 2012; however, from 2013 to 2022, consumption remained at a lower figure.

Bearing Exports

Exports from Luxembourg

For the fifth consecutive year, Luxembourg recorded growth in shipments abroad of ball or roller bearings, which increased by X% to X tons in 2022. Overall, exports recorded a strong increase. The pace of growth appeared the most rapid in 2018 when exports increased by X%. The exports peaked in 2022 and are likely to see steady growth in the near future.

In value terms, bearing exports soared to $X in 2022. Over the period under review, exports posted resilient growth. The pace of growth appeared the most rapid in 2018 when exports increased by X% against the previous year. Over the period under review, the exports reached the peak figure in 2022 and are likely to see gradual growth in the immediate term.

Exports by Country

Belgium (X tons) was the main destination for bearing exports from Luxembourg, with a X% share of total exports. Moreover, bearing exports to Belgium exceeded the volume sent to the second major destination, Poland (X tons), threefold. The third position in this ranking was held by France (X tons), with a X% share.

From 2012 to 2021, the average annual growth rate of volume to Belgium amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Poland (X% per year) and France (X% per year).

In value terms, Belgium ($X) remains the key foreign market for ball or roller bearings exports from Luxembourg, comprising X% of total exports. The second position in the ranking was held by Germany ($X), with an X% share of total exports. It was followed by France, with a X% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Belgium stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (X% per year) and France (X% per year).

Export Prices by Country

In 2021, the average bearing export price amounted to $X per ton, shrinking by X% against the previous year. Overall, the export price continues to indicate a pronounced downturn. The pace of growth appeared the most rapid in 2018 an increase of X%. Over the period under review, the average export prices reached the maximum at $X per ton in 2014; however, from 2015 to 2021, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Germany ($X per ton), while the average price for exports to Poland ($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 (X%), while the prices for the other major destinations experienced more modest paces of growth.

Bearing Imports

Imports into Luxembourg

Bearing imports into Luxembourg soared to X tons in 2022, rising by X% against the previous year's figure. Overall, total imports indicated a tangible increase from 2012 to 2022: its volume 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. Based on 2022 figures, imports increased by X% against 2020 indices. The pace of growth appeared the most rapid in 2017 when imports increased by X%. Over the period under review, imports attained the maximum in 2022 and are likely to see gradual growth in the immediate term.

In value terms, bearing imports totaled $X in 2022. In general, imports, however, continue to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2018 when imports increased by X% against the previous year. As a result, imports reached the peak of $X. From 2019 to 2022, the growth of imports failed to regain momentum.

Imports by Country

In 2021, Germany (X tons) constituted the largest bearing supplier to Luxembourg, with a X% share of total imports. Moreover, bearing imports from Germany exceeded the figures recorded by the second-largest supplier, Belgium (X tons), threefold. The United States (X tons) ranked third in terms of total imports with a X% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Germany stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: Belgium (X% per year) and the United States (X% per year).

In value terms, the largest bearing suppliers to Luxembourg were Germany ($X), Belgium ($X) and the United States ($X), together comprising X% of total imports. Japan, France, China and the Netherlands lagged somewhat behind, together comprising a further X%.

Among the main suppliers, China, with a CAGR of X%, recorded the highest rates of growth with regard to 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

The average bearing import price stood at $X per ton in 2021, declining by X% against the previous year. In general, the import price showed a pronounced contraction. The most prominent rate of growth was recorded in 2018 an increase of X% against the previous year. The import price peaked at $X per ton in 2013; however, from 2014 to 2021, import prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top importers, 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 Belgium (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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