Norway: Market for Bearing Housings Incorporating Ball Or Roller Bearings 2024

Market Size for Bearing Housings Incorporating Ball Or Roller Bearings in Norway

The Norwegian market for bearing housings incorporating ball or roller bearings dropped to $X in 2022, reducing by -10.3% against the previous year. Over the period under review, the total consumption indicated a measured increase from 2012 to 2022: its value increased at an average annual rate of +2.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +4.5% against 2020 indices. Over the period under review, the market attained the peak level at $X in 2019; however, from 2020 to 2022, consumption failed to regain momentum.

Production of Bearing Housings Incorporating Ball Or Roller Bearings in Norway

In value terms, bearing housing with ball bearing production reduced to $X in 2022 estimated in export price. Over the period under review, production, however, recorded a temperate increase. The growth pace was the most rapid in 2016 when the production volume increased by 68%. Over the period under review, production hit record highs at $X in 2018; however, from 2019 to 2022, production stood at a somewhat lower figure.

Exports of Bearing Housings Incorporating Ball Or Roller Bearings

Exports from Norway

In 2022, bearing housing with ball bearing exports from Norway skyrocketed to X tons, jumping by 78% on 2021. Overall, exports recorded slight growth. The growth pace was the most rapid in 2013 when exports increased by 218% against the previous year. As a result, the exports reached the peak of X tons. From 2014 to 2022, the growth of the exports failed to regain momentum.

In value terms, bearing housing with ball bearing exports skyrocketed to $X in 2022. In general, exports enjoyed a modest expansion. The pace of growth appeared the most rapid in 2013 with an increase of 195%. As a result, the exports attained the peak of $X. From 2014 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

China (X tons) was the main destination for bearing housing with ball bearing exports from Norway, accounting for a 39% share of total exports. Moreover, bearing housing with ball bearing exports to China exceeded the volume sent to the second major destination, Gibraltar (X tons), fourfold. The third position in this ranking was held by Serbia (X tons), with a 5.1% share.

From 2012 to 2022, the average annual growth rate of volume to China amounted to +143.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Gibraltar (+197.8% per year) and Serbia (+183.1% per year).

In value terms, China ($X) emerged as the key foreign market for bearing housings incorporating ball or roller bearings exports from Norway, comprising 33% of total exports. The second position in the ranking was taken by Croatia ($X), with a 5.4% share of total exports. It was followed by the UK, with a 5.3% share.

From 2012 to 2022, the average annual rate of growth in terms of value to China stood at +125.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Croatia (+8.0% per year) and the UK (+13.0% per year).

Export Prices by Country

The average export price for bearing housings incorporating ball or roller bearings stood at $X per ton in 2022, shrinking by -12.4% against the previous year. Over the period under review, the export price, however, saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2014 when the average export price increased by 49% against the previous year. Over the period under review, the average export prices hit record highs at $X per ton in 2018; however, from 2019 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Switzerland ($X per ton), while the average price for exports to Gibraltar ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Germany (+3.0%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Bearing Housings Incorporating Ball Or Roller Bearings

Imports into Norway

In 2022, overseas purchases of bearing housings incorporating ball or roller bearings were finally on the rise to reach X tons for the first time since 2019, thus ending a two-year declining trend. Over the period under review, total imports indicated a mild increase from 2012 to 2022: its volume increased at an average annual rate of +1.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports decreased by -22.8% against 2019 indices. The most prominent rate of growth was recorded in 2014 with an increase of 68% against the previous year. As a result, imports reached the peak of X tons. From 2015 to 2022, the growth of imports remained at a lower figure.

In value terms, bearing housing with ball bearing imports soared to $X in 2022. Overall, imports continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 when imports increased by 31% against the previous year. Imports peaked at $X in 2014; however, from 2015 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, China (X tons) constituted the largest bearing housing with ball bearing supplier to Norway, with a 40% share of total imports. Moreover, bearing housing with ball bearing imports from China exceeded the figures recorded by the second-largest supplier, Italy (X tons), threefold. Germany (X tons) ranked third in terms of total imports with a 12% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China stood at +4.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (+1.2% per year) and Germany (+8.4% per year).

In value terms, the largest bearing housing with ball bearing suppliers to Norway were China ($X), Italy ($X) and Germany ($X), with a combined 54% share of total imports. Sweden, France, Denmark, Vietnam, the UK, Poland and Slovakia lagged somewhat behind, together accounting for a further 25%.

Among the main suppliers, Poland, with a CAGR of +43.5%, saw 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

In 2022, the average import price for bearing housings incorporating ball or roller bearings amounted to $X per ton, increasing by 7.5% against the previous year. Over the period under review, the import price, however, continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 when the average import price increased by 28% against the previous year. Over the period under review, average import prices hit record highs at $X per ton in 2013; however, from 2014 to 2022, import prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was France ($X per ton), while the price for Poland ($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 (+13.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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