Romania: Tools For Bearing Market 2024

Tools For Bearing Market Size in Romania

The Romanian tools for bearing market shrank to $X in 2022, approximately equating the previous year. Overall, consumption, however, showed a relatively flat trend pattern. Over the period under review, the market reached the maximum level at $X in 2012; however, from 2013 to 2022, consumption failed to regain momentum.

Tools For Bearing Production in Romania

In value terms, tools for bearing production reduced to $X in 2022 estimated in export price. Over the period under review, production recorded a sharp setback. The most prominent rate of growth was recorded in 2021 with an increase of 29%. Tools for bearing production peaked at $X in 2012; however, from 2013 to 2022, production stood at a somewhat lower figure.

Tools For Bearing Exports

Exports from Romania

In 2022, shipments abroad of balls, needles and rollers for ball or roller bearings increased by 63% to X tons, rising for the fifth consecutive year after two years of decline. In general, exports showed a resilient increase. The most prominent rate of growth was recorded in 2015 when exports increased by 402% against the previous year. Over the period under review, the exports reached the maximum in 2022 and are likely to see gradual growth in years to come.

In value terms, tools for bearing exports soared to $X in 2022. Over the period under review, exports posted a strong expansion. The most prominent rate of growth was recorded in 2015 with an increase of 206%. Over the period under review, the exports hit record highs in 2022 and are likely to see gradual growth in years to come.

Exports by Country

Germany (X tons) was the main destination for tools for bearing exports from Romania, accounting for a 70% share of total exports. Moreover, tools for bearing exports to Germany exceeded the volume sent to the second major destination, India (X tons), sevenfold. The Czech Republic (X tons) ranked third in terms of total exports with a 7.6% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Germany stood at +21.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: India (+78.9% per year) and the Czech Republic (+96.9% per year).

In value terms, Germany ($X) remains the key foreign market for balls, needles and rollers for ball or roller bearings exports from Romania, comprising 65% of total exports. The second position in the ranking was held by India ($X), with a 13% share of total exports. It was followed by the United States, with a 10% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Germany totaled +22.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: India (+86.9% per year) and the United States (+44.5% per year).

Export Prices by Country

In 2022, the average tools for bearing export price amounted to $X per ton, surging by 11% against the previous year. Over the period under review, the export price, however, recorded a mild downturn. The most prominent rate of growth was recorded in 2014 when the average export price increased by 68% against the previous year. The export price peaked at $X per ton in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was the United States ($X per ton), while the average price for exports to the Czech Republic ($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 India (+4.5%), while the prices for the other major destinations experienced more modest paces of growth.

Tools For Bearing Imports

Imports into Romania

In 2022, overseas purchases of balls, needles and rollers for ball or roller bearings increased by 14% to X tons, rising for the second year in a row after two years of decline. Over the period under review, imports continue to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 when imports increased by 100% against the previous year. Over the period under review, imports attained the maximum in 2022 and are likely to see steady growth in years to come.

In value terms, tools for bearing imports rose significantly to $X in 2022. Overall, total imports indicated a noticeable expansion from 2012 to 2022: its value increased at an average annual rate of +3.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +141.1% against 2020 indices. The pace of growth was the most pronounced in 2021 with an increase of 127%. Over the period under review, imports reached the peak figure in 2022 and are expected to retain growth in the near future.

Imports by Country

In 2022, Germany (X tons) constituted the largest tools for bearing supplier to Romania, with a 60% share of total imports. Moreover, tools for bearing imports from Germany exceeded the figures recorded by the second-largest supplier, China (X tons), sixfold. The third position in this ranking was held by Poland (X tons), with a 5.4% share.

From 2012 to 2022, the average annual growth rate of volume from Germany was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: China (+55.0% per year) and Poland (+5.6% per year).

In value terms, Germany ($X) constituted the largest supplier of balls, needles and rollers for ball or roller bearings to Romania, comprising 48% of total imports. The second position in the ranking was taken by China ($X), with a 13% share of total imports. It was followed by France, with a 7.7% share.

From 2012 to 2022, the average annual growth rate of value from Germany amounted to +6.3%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+64.8% per year) and France (-6.8% per year).

Import Prices by Country

The average tools for bearing import price stood at $X per ton in 2022, falling by -6.4% against the previous year. Over the last decade, it increased at an average annual rate of +3.0%. The most prominent rate of growth was recorded in 2020 an increase of 18%. The import price peaked at $X per ton in 2021, and then shrank in the following year.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Hungary ($X per ton), while the price for the Czech Republic ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Hungary (+13.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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