Portugal: Spherical Roller Bearing Market 2024

Spherical Roller Bearing Market Size in Portugal

In 2021, the Portuguese spherical roller bearing market increased by 16% to $X for the first time since 2018, thus ending a two-year declining trend. Over the period under review, consumption recorded a tangible expansion. As a result, consumption attained the peak level of $X. From 2017 to 2021, the growth of the market remained at a lower figure.

Spherical Roller Bearing Exports

Exports from Portugal

In 2021, overseas shipments of spherical roller bearings increased by 7.4% to X tons for the first time since 2018, thus ending a two-year declining trend. In general, exports, however, continue to indicate a noticeable setback. The growth pace was the most rapid in 2018 with an increase of 196%. As a result, the exports reached the peak of X tons. From 2019 to 2021, the growth of the exports remained at a somewhat lower figure.

In value terms, spherical roller bearing exports soared to $X in 2021. Overall, exports continue to indicate slight growth. The pace of growth appeared the most rapid in 2017 with an increase of 293%. Over the period under review, the exports reached the peak figure at $X in 2018; however, from 2019 to 2021, the exports remained at a lower figure.

Exports by Country

Angola (X kg), Spain (X kg) and Cabo Verde (X kg) were the main destinations of spherical roller bearing exports from Portugal, together comprising 86% of total exports. Italy, the United States, Guinea-Bissau, Mexico, Germany and the UK lagged somewhat behind, together comprising a further 14%.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Mexico (with a CAGR of +433.3%), while the other leaders experienced more modest paces of growth.

In value terms, Angola ($X) remains the key foreign market for spherical roller bearings exports from Portugal, comprising 52% of total exports. The second position in the ranking was held by Cabo Verde ($X), with an 18% share of total exports. It was followed by Spain, with a 16% share.

From 2012 to 2021, the average annual growth rate of value to Angola was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Cabo Verde (+15.7% per year) and Spain (+0.4% per year).

Export Prices by Country

The average spherical roller bearing export price stood at $X per ton in 2021, picking up by 27% against the previous year. In general, export price indicated a moderate increase from 2012 to 2021: its price increased at an average annual rate of +3.6% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, spherical roller bearing export price increased by +59.3% against 2019 indices. The pace of growth was the most pronounced in 2017 an increase of 43%. Over the period under review, the average export prices hit record highs in 2021 and is likely to continue growth in the near future.

There were significant differences in the average prices for the major overseas markets. In 2021, the country with the highest price was the UK ($X per ton), while the average price for exports to Guinea-Bissau ($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 the UK (+80.4%), while the prices for the other major destinations experienced more modest paces of growth.

Spherical Roller Bearing Imports

Imports into Portugal

In 2021, purchases abroad of spherical roller bearings was finally on the rise to reach X tons after two years of decline. Over the period under review, imports posted temperate growth. The most prominent rate of growth was recorded in 2016 when imports increased by 90% against the previous year. As a result, imports attained the peak of X tons. From 2017 to 2021, the growth of imports failed to regain momentum.

In value terms, spherical roller bearing imports totaled $X in 2021. Overall, total imports indicated a modest expansion from 2012 to 2021: its value increased at an average annual rate of +1.6% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports decreased by -32.8% against 2018 indices. The pace of growth was the most pronounced in 2016 with an increase of 74% against the previous year. Imports peaked at $X in 2018; however, from 2019 to 2021, imports remained at a lower figure.

Imports by Country

Belgium (X tons), Spain (X tons) and France (X tons) were the main suppliers of spherical roller bearing imports to Portugal, with a combined 82% share of total imports. Sweden, Germany and Romania lagged somewhat behind, together accounting for a further 15%.

From 2012 to 2021, the biggest increases were recorded for Sweden (with a CAGR of +27.8%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest spherical roller bearing suppliers to Portugal were Spain ($X), Belgium ($X) and France ($X), with a combined 82% share of total imports. These countries were followed by Sweden, Germany and Romania, which together accounted for a further 14%.

Sweden, with a CAGR of +22.1%, saw the highest growth rate of the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the average spherical roller bearing import price amounted to $X per ton, which is down by -4.5% against the previous year. Overall, the import price continues to indicate a slight curtailment. The pace of growth was the most pronounced in 2018 an increase of 14% against the previous year. Over the period under review, average import prices hit record highs at $X per ton in 2014; however, from 2015 to 2021, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was Germany ($X per ton), while the price for Romania ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Romania (+2.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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