Luxembourg: Ball Bearing Parts Market 2024

Ball Bearing Parts Market Size in Luxembourg

In 2021, the Luxembourg ball bearing parts market decreased by -1.4% to $X for the first time since 2017, thus ending a three-year rising trend. In general, the total consumption indicated a buoyant expansion from 2012 to 2021: its value increased at an average annual rate of +5.2% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +25.1% against 2017 indices. Over the period under review, the market hit record highs at $X in 2020, and then contracted slightly in the following year.

Ball Bearing Parts Production in Luxembourg

In value terms, ball bearing parts production declined modestly to $X in 2021 estimated in export price. Overall, the total production indicated a resilient expansion from 2012 to 2021: its value increased at an average annual rate of +7.8% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production increased by +40.2% against 2017 indices. The most prominent rate of growth was recorded in 2018 when the production volume increased by 32% against the previous year. Over the period under review, production attained the peak level at $X in 2020, and then dropped modestly in the following year.

Ball Bearing Parts Exports

Exports from Luxembourg

In 2021, overseas shipments of parts of ball or roller bearings were finally on the rise to reach X tons after two years of decline. Overall, exports saw a prominent increase. The most prominent rate of growth was recorded in 2018 with an increase of 312%. As a result, the exports attained the peak of X tons. From 2019 to 2021, the growth of the exports remained at a somewhat lower figure.

In value terms, ball bearing parts exports soared to $X in 2021. Over the period under review, exports saw a prominent expansion. The pace of growth appeared the most rapid in 2018 when exports increased by 401% against the previous year. The exports peaked in 2021 and are likely to continue growth in the immediate term.

Exports by Country

Turkey (X tons) was the main destination for ball bearing parts exports from Luxembourg, accounting for a 37% share of total exports. Moreover, ball bearing parts exports to Turkey exceeded the volume sent to the second major destination, France (X kg), eightfold. Belgium (X kg) ranked third in terms of total exports with a 4.5% share.

From 2012 to 2021, the average annual growth rate of volume to Turkey totaled +63.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: France (-20.3% per year) and Belgium (-10.0% per year).

In value terms, Turkey ($X) remains the key foreign market for parts of ball or roller bearings exports from Luxembourg, comprising 30% of total exports. The second position in the ranking was taken by France ($X), with a 7.3% share of total exports. It was followed by Belgium, with a 6.8% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Turkey stood at +60.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: France (+5.6% per year) and Belgium (+8.6% per year).

Export Prices by Country

In 2021, the average ball bearing parts export price amounted to $X per ton, picking up by 3.7% against the previous year. In general, the export price showed a prominent increase. The growth pace was the most rapid in 2020 when the average export price increased by 41%. Over the period under review, the average export prices attained the peak figure in 2021 and is likely to see steady growth in the near future.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Belgium ($X per ton), while the average price for exports to Lithuania ($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 France (+32.4%), while the prices for the other major destinations experienced more modest paces of growth.

Ball Bearing Parts Imports

Imports into Luxembourg

In 2021, the amount of parts of ball or roller bearings imported into Luxembourg surged to X tons, growing by 38% on the previous year. Overall, imports, however, recorded a perceptible setback. Imports peaked at X tons in 2012; however, from 2013 to 2021, imports failed to regain momentum.

In value terms, ball bearing parts imports surged to $X in 2021. In general, imports, however, recorded a mild decrease. Imports peaked at $X in 2019; however, from 2020 to 2021, imports stood at a somewhat lower figure.

Imports by Country

Belgium (X tons), the United States (X tons) and Germany (X tons) were the main suppliers of ball bearing parts imports to Luxembourg, with a combined 68% share of total imports. These countries were followed by the Netherlands, France, China and Sweden, which together accounted for a further 28%.

From 2012 to 2021, the biggest increases were recorded for China (with a CAGR of +75.1%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Belgium ($X) constituted the largest supplier of parts of ball or roller bearings to Luxembourg, comprising 37% of total imports. The second position in the ranking was held by France ($X), with a 14% share of total imports. It was followed by Germany, with a 12% share.

From 2012 to 2021, the average annual growth rate of value from Belgium amounted to -2.3%. The remaining supplying countries recorded the following average annual rates of imports growth: France (-3.8% per year) and Germany (-6.9% per year).

Import Prices by Country

In 2021, the average ball bearing parts import price amounted to $X per ton, increasing by 7.2% against the previous year. Over the last nine years, it increased at an average annual rate of +3.7%. The growth pace was the most rapid in 2017 when the average import price increased by 25% against the previous year. The import price peaked at $X per ton in 2019; afterwards, it flattened through to 2021.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Sweden (+13.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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