Norway: Tapered Roller Bearing Market 2024

Tapered Roller Bearing Market Size in Norway

In 2021, the Norwegian tapered roller bearing market decreased by -25.4% to $X for the first time since 2017, thus ending a three-year rising trend. Overall, consumption continues to indicate a deep reduction. Tapered roller bearing consumption peaked at $X in 2014; however, from 2015 to 2021, consumption stood at a somewhat lower figure.

Tapered Roller Bearing Exports

Exports from Norway

In 2021, tapered roller bearing exports from Norway soared to X tons, picking up by 55% on 2020. In general, exports showed a mild increase. The growth pace was the most rapid in 2014 when exports increased by 255%. As a result, the exports attained the peak of X tons. From 2015 to 2021, the growth of the exports remained at a lower figure.

In value terms, tapered roller bearing exports surged to $X in 2021. Overall, exports saw a buoyant increase. The most prominent rate of growth was recorded in 2014 when exports increased by 179%. As a result, the exports reached the peak of $X. From 2015 to 2021, the growth of the exports remained at a somewhat lower figure.

Exports by Country

The Netherlands (X tons), the UK (X tons) and Germany (X tons) were the main destinations of tapered roller bearing exports from Norway, with a combined 51% share of total exports. These countries were followed by Sweden, the United States, Turkey, Brazil, China, Poland, Denmark, Singapore, Italy and Spain, which together accounted for a further 35%.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Turkey (with a CAGR of +78.4%), while the other leaders experienced more modest paces of growth.

In value terms, the Netherlands ($X), the United States ($X) and the UK ($X) were the largest markets for tapered roller bearing exported from Norway worldwide, with a combined 52% share of total exports. Germany, Brazil, Turkey, Sweden, China, Singapore, Spain, Italy, Denmark and Poland lagged somewhat behind, together accounting for a further 29%.

Turkey, with a CAGR of +64.9%, saw the highest rates of growth with regard to the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average tapered roller bearing export price stood at $X per ton in 2021, picking up by 25% against the previous year. Overall, export price indicated tangible growth from 2012 to 2021: its price increased at an average annual rate of +4.5% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, tapered roller bearing export price increased by +46.8% against 2015 indices. The most prominent rate of growth was recorded in 2015 when the average export price increased by 37% against the previous year. Over the period under review, the average export prices attained the maximum in 2021 and is likely to continue growth in the immediate term.

Prices varied noticeably country of destination: the country with the highest price was the United States ($X per ton), while the average price for exports to Sweden ($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 Spain (+9.6%), while the prices for the other major destinations experienced more modest paces of growth.

Tapered Roller Bearing Imports

Imports into Norway

In 2021, purchases abroad of tapered roller bearings decreased by -19.9% to X tons, falling for the second consecutive year after three years of growth. Overall, imports continue to indicate a abrupt decrease. The most prominent rate of growth was recorded in 2014 when imports increased by 26% against the previous year. As a result, imports reached the peak of X tons. From 2015 to 2021, the growth of imports failed to regain momentum.

In value terms, tapered roller bearing imports contracted remarkably to $X in 2021. In general, imports recorded a abrupt curtailment. The most prominent rate of growth was recorded in 2018 when imports increased by 22%. Over the period under review, imports reached the maximum at $X in 2014; however, from 2015 to 2021, imports remained at a lower figure.

Imports by Country

Germany (X tons), Italy (X tons) and China (X tons) were the main suppliers of tapered roller bearing imports to Norway, with a combined 65% share of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by China (with a CAGR of +18.7%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest tapered roller bearing suppliers to Norway were Germany ($X), China ($X) and Italy ($X), with a combined 51% share of total imports.

China, with a CAGR of +17.0%, saw the highest growth rate of 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 tapered roller bearing import price stood at $X per ton in 2021, with an increase of 5% against the previous year. Overall, the import price, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 an increase of 11% against the previous year. Over the period under review, average import prices reached the peak figure at $X per ton in 2013; however, from 2014 to 2021, import prices remained at a lower figure.

Prices varied noticeably country of origin: the country with the highest price was France ($X per ton), while the price for Italy ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the UK (+7.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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