Norway: Ball Bearing Parts Market 2024

Ball Bearing Parts Market Size in Norway

The Norwegian ball bearing parts market reduced notably to $X in 2021, which is down by -33.7% 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). Over the period under review, consumption showed a deep reduction. The most prominent rate of growth was recorded in 2019 with an increase of 8%. Over the period under review, the market attained the peak level at $X in 2012; however, from 2013 to 2021, consumption failed to regain momentum.

Ball Bearing Parts Exports

Exports from Norway

In 2021, after two years of decline, there was significant growth in overseas shipments of parts of ball or roller bearings, when their volume increased by 21% to X tons. In general, exports, however, continue to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2016 when exports increased by 74% against the previous year. As a result, the exports attained the peak of X tons. From 2017 to 2021, the growth of the exports failed to regain momentum.

In value terms, ball bearing parts exports contracted significantly to $X in 2021. Over the period under review, exports, however, showed a perceptible decrease. The most prominent rate of growth was recorded in 2017 with an increase of 22% against the previous year. The exports peaked at $X in 2018; however, from 2019 to 2021, the exports failed to regain momentum.

Exports by Country

Poland (X tons), the Netherlands (X tons) and Sweden (X tons) were the main destinations of ball bearing parts exports from Norway, with a combined 39% share of total exports. These countries were followed by Ireland, Denmark, the UK, France, Estonia, Turkey, Germany, Faroe Islands, South Korea and Azerbaijan, which together accounted for a further 43%.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Azerbaijan (with a CAGR of +77.3%), while the other leaders experienced more modest paces of growth.

In value terms, Poland ($X), the Netherlands ($X) and the UK ($X) constituted the largest markets for ball bearing parts exported from Norway worldwide, with a combined 31% share of total exports. These countries were followed by Denmark, Azerbaijan, Sweden, Turkey, Germany, Ireland, France, Faroe Islands, Estonia and South Korea, which together accounted for a further 34%.

Among the main countries of destination, Azerbaijan, with a CAGR of +59.7%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average ball bearing parts export price stood at $X per ton in 2021, reducing by -31.2% against the previous year. Over the period under review, the export price recorded a pronounced reduction. The pace of growth was the most pronounced in 2017 when the average export price increased by 59%. Over the period under review, the average export prices attained the peak figure at $X per ton in 2015; however, from 2016 to 2021, the export prices failed to regain momentum.

There were significant differences in the average prices for the major external markets. In 2021, amid the top suppliers, the country with the highest price was Azerbaijan ($X per ton), while the average price for exports to Ireland ($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 Germany (+5.0%), while the prices for the other major destinations experienced mixed trend patterns.

Ball Bearing Parts Imports

Imports into Norway

After two years of growth, overseas purchases of parts of ball or roller bearings decreased by -28.4% to X tons in 2021. Over the period under review, imports recorded a abrupt curtailment. The most prominent rate of growth was recorded in 2016 with an increase of 17% against the previous year. Imports peaked at X tons in 2012; however, from 2013 to 2021, imports failed to regain momentum.

In value terms, ball bearing parts imports reduced rapidly to $X in 2021. Overall, imports faced a deep setback. The most prominent rate of growth was recorded in 2019 with an increase of 2.3% against the previous year. Over the period under review, imports hit record highs at $X in 2012; however, from 2013 to 2021, imports remained at a lower figure.

Imports by Country

Poland (X tons), China (X tons) and Germany (X tons) were the main suppliers of ball bearing parts imports to Norway, with a combined 62% share of total imports. Sweden, Hungary, France, Taiwan (Chinese), the United States, Italy, Romania, the UK and Denmark lagged somewhat behind, together comprising a further 33%.

From 2012 to 2021, the biggest increases were recorded for Hungary (with a CAGR of +28.2%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest ball bearing parts suppliers to Norway were Germany ($X), Sweden ($X) and the United States ($X), with a combined 53% share of total imports. These countries were followed by China, France, Poland, Italy, Romania, the UK, Taiwan (Chinese), Hungary and Denmark, which together accounted for a further 33%.

Poland, with a CAGR of +13.6%, recorded the highest rates of growth with regard to the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average ball bearing parts import price stood at $X per ton in 2021, surging by 6.1% against the previous year. Overall, the import price, however, continues to indicate a mild downturn. The most prominent rate of growth was recorded in 2014 when the average import price increased by 22%. As a result, import price attained the peak level of $X per ton. From 2015 to 2021, the average import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was the United States ($X per ton), while the price for Poland ($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 (+9.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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