Luxembourg: Roller Bearing Market 2024

Roller Bearing Market Size in Luxembourg

The Luxembourg roller bearing market was finally on the rise to reach $X in 2022, after three years of decline. Over the period under review, consumption, however, showed a deep downturn. Luxembourg consumption peaked at $X in 2012; however, from 2013 to 2022, consumption remained at a lower figure.

Roller Bearing Exports

Exports from Luxembourg

For the fifth year in a row, Luxembourg recorded growth in overseas shipments of roller bearings, which increased by 2.4% to X tons in 2022. Over the period under review, exports showed a prominent expansion. The most prominent rate of growth was recorded in 2018 when exports increased by 129%. Over the period under review, the exports reached the peak figure in 2022 and are expected to retain growth in the near future.

In value terms, roller bearing exports expanded remarkably to $X in 2022. Overall, exports recorded a strong expansion. The most prominent rate of growth was recorded in 2018 when exports increased by 165% against the previous year. Over the period under review, the exports attained the peak figure in 2022 and are likely to see steady growth in years to come.

Exports by Country

China represented the major exporter of roller bearings in the world, with the volume of exports finishing at X tons, which was near 43% of total exports in 2022. Singapore (X tons) ranks second in terms of the total exports with a 9.7% share, followed by Germany (7.2%), France (6.9%), Slovakia (5.4%) and the United States (0.8%). Italy (X tons), South Korea (X tons), Indonesia (X tons), Hong Kong SAR (X tons), Turkey (X tons), Austria (X tons) and Romania (X tons) followed a long way behind the leaders.

Exports from China increased at an average annual rate of +22.6% from 2012 to 2022. At the same time, Indonesia (+35.7%), Turkey (+8.5%), Singapore (+1.2%) and Slovakia (+1.1%) displayed positive paces of growth. Moreover, Indonesia emerged as the fastest-growing exporter exported in the world, with a CAGR of +35.7% from 2012-2022. By contrast, Italy (-1.9%), Germany (-2.0%), France (-2.2%), South Korea (-9.7%), Hong Kong SAR (-13.7%), the United States (-18.4%), Austria (-22.3%) and Romania (-22.4%) illustrated a downward trend over the same period. While the share of China (+37 p.p.) and Indonesia (+2.2 p.p.) increased significantly in terms of the global exports from 2012-2022, the share of Italy (-1.5 p.p.), Germany (-2.6 p.p.), France (-2.7 p.p.), Romania (-4.9 p.p.), Hong Kong SAR (-6 p.p.), South Korea (-6.3 p.p.), the United States (-6.4 p.p.) and Austria (-7.2 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X), Singapore ($X) and Germany ($X) constituted the countries with the highest levels of exports in 2022, together comprising 45% of total exports. Italy, the United States, France, Hong Kong SAR, Slovakia, South Korea, Austria, Turkey, Indonesia and Romania lagged somewhat behind, together accounting for a further 31%.

Indonesia, with a CAGR of +16.1%, saw the highest rates of growth with regard to the value of exports, in terms of the main exporting countries over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The export price in Luxembourg stood at $X per ton in 2022, surging by 5.6% against the previous year. Over the period under review, the export price, however, recorded a slight shrinkage. The growth pace was the most rapid in 2018 when the export price increased by 16% against the previous year. The Luxembourg export price peaked at $X per ton in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+16.3%), while the other leaders experienced more modest paces of growth.

Roller Bearing Imports

Imports into Luxembourg

In 2022, supplies from abroad of roller bearings increased by 38% to X tons, rising for the second consecutive year after two years of decline. In general, imports, however, showed a slight downturn. The growth pace was the most rapid in 2018 when imports increased by 51%. As a result, imports reached the peak of X tons. From 2019 to 2022, the growth of imports remained at a lower figure.

In value terms, roller bearing imports soared to $X in 2022. Overall, imports, however, showed a slight reduction. The pace of growth was the most pronounced in 2018 when imports increased by 81% against the previous year. As a result, imports reached the peak of $X. From 2019 to 2022, the growth of imports remained at a somewhat lower figure.

Imports by Country

Thailand (X tons) and Indonesia (X tons) were the major importers of roller bearings in 2022, resulting at near 17% and 15% of total imports, respectively. It was distantly followed by Germany (X tons), comprising a 6.2% share of total imports. India (X tons), Italy (X tons), Canada (X tons), Malaysia (X tons), Spain (X tons), South Korea (X tons), France (X tons), Singapore (X tons), Poland (X tons) and Austria (X tons) followed a long way behind the leaders.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by Thailand (with a CAGR of +18.5%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest roller bearing importing markets into Luxembourg were Indonesia ($X), Germany ($X) and India ($X), with a combined 24% share of total imports.

Indonesia, with a CAGR of +4.2%, saw the highest growth rate of the value of imports, in terms of 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 Luxembourg stood at $X per ton in 2022, rising by 5% against the previous year. In general, the import price saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2018 an increase of 20%. Over the period under review, import prices hit record highs at $X per ton in 2019; however, from 2020 to 2022, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Canada ($X per ton), while Thailand ($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 (+6.9%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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