Russian Federation: Ball Bearing Market 2024

Ball Bearing Market Size in the Russian Federation

The Russian ball bearing market skyrocketed to $X in 2021, growing by 19% 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 saw a prominent increase. Over the period under review, the market hit record highs at $X in 2017; however, from 2018 to 2021, consumption failed to regain momentum.

Ball Bearing Exports

Exports from the Russian Federation

In 2021, ball bearing exports from Russia amounted to X tons, growing by 4.5% compared with the previous year's figure. In general, total exports indicated a modest expansion from 2012 to 2021: its volume increased at an average annual rate of +1.1% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2016 when exports increased by 71% against the previous year. As a result, the exports reached the peak of X tons. From 2017 to 2021, the growth of the exports remained at a lower figure.

In value terms, ball bearing exports rose modestly to $X in 2021. Over the period under review, exports, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 with an increase of 126%. As a result, the exports attained the peak of $X. From 2017 to 2021, the growth of the exports remained at a lower figure.

Exports by Country

Belarus (X tons) was the main destination for ball bearing exports from Russia, with a 65% share of total exports. Moreover, ball bearing exports to Belarus exceeded the volume sent to the second major destination, Kazakhstan (X tons), threefold.

From 2012 to 2021, the average annual rate of growth in terms of volume to Belarus amounted to +3.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Kazakhstan (+5.4% per year) and Ukraine (-8.4% per year).

In value terms, Belarus ($X) remains the key foreign market for ball bearings exports from Russia, comprising 46% of total exports. The second position in the ranking was taken by Kazakhstan ($X), with a 22% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value to Belarus totaled +4.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Kazakhstan (+8.9% per year) and Ukraine (-14.5% per year).

Export Prices by Country

The average ball bearing export price stood at $X per ton in 2021, stabilizing at the previous year. Overall, the export price, however, continues to indicate a slight shrinkage. The pace of growth was the most pronounced in 2016 an increase of 32% against the previous year. The export price peaked at $X per ton in 2012; however, from 2013 to 2021, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major export markets. In 2021, the country with the highest price was Ukraine ($X per ton), while the average price for exports to Belarus ($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 Kazakhstan (+3.3%), while the prices for the other major destinations experienced mixed trend patterns.

Ball Bearing Imports

Imports into the Russian Federation

In 2021, overseas purchases of ball bearings increased by 11% to X tons, rising for the third year in a row after two years of decline. Overall, imports showed a prominent expansion. The pace of growth was the most pronounced in 2016 with an increase of 173% against the previous year. As a result, imports reached the peak of X tons. From 2017 to 2021, the growth of imports remained at a somewhat lower figure.

In value terms, ball bearing imports surged to $X in 2021. In general, imports enjoyed a resilient increase. The growth pace was the most rapid in 2016 with an increase of 121% against the previous year. Imports peaked at $X in 2017; however, from 2018 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, Malaysia (X tons) constituted the largest ball bearing supplier to Russia, accounting for a 27% share of total imports. Moreover, ball bearing imports from Malaysia exceeded the figures recorded by the second-largest supplier, Latvia (X tons), twofold. China (X tons) ranked third in terms of total imports with a 13% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Malaysia totaled +28.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Latvia (+134.0% per year) and China (-5.2% per year).

In value terms, China ($X), Malaysia ($X) and Japan ($X) constituted the largest ball bearing suppliers to Russia, with a combined 33% share of total imports. These countries were followed by France, Italy, Latvia, Slovakia, Belarus, Serbia, Vietnam, India, Estonia and Kazakhstan, which together accounted for a further 42%.

In terms of the main suppliers, Vietnam, with a CAGR of +123.4%, recorded the highest growth rate of 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

The average ball bearing import price stood at $X per ton in 2021, rising by 9.5% against the previous year. In general, the import price continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 an increase of 49%. Over the period under review, average import prices hit record highs at $X per ton in 2018; however, from 2019 to 2021, import prices remained at a lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Belarus (+9.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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