Russian Federation: Bearing Market 2024

Bearing Market Size in the Russian Federation

The Russian bearing market expanded to $X in 2022, with an increase of X% against the previous year. Over the period under review, consumption, however, showed a mild descent. Bearing consumption peaked at $X in 2012; however, from 2013 to 2022, consumption remained at a lower figure.

Bearing Production in the Russian Federation

In value terms, bearing production reduced slightly to $X in 2022 estimated in export price. Over the period under review, production, however, continues to indicate a deep setback. The most prominent rate of growth was recorded in 2016 when the production volume increased by X%. Bearing production peaked at $X in 2012; however, from 2013 to 2022, production remained at a lower figure.

Bearing Exports

Exports from the Russian Federation

Bearing exports from Russia contracted slightly to X tons in 2022, waning by X% on 2021 figures. Overall, exports showed a noticeable downturn. The pace of growth was the most pronounced in 2016 when exports increased by X%. Over the period under review, the exports hit record highs at X tons in 2017; however, from 2018 to 2022, the exports remained at a lower figure.

In value terms, bearing exports shrank modestly to $X in 2022. Over the period under review, exports recorded a pronounced descent. The most prominent rate of growth was recorded in 2016 when exports increased by X%. Over the period under review, the exports reached the peak figure at $X in 2017; however, from 2018 to 2022, the exports remained at a lower figure.

Exports by Country

Belarus (X tons) was the main destination for bearing exports from Russia, accounting for a X% share of total exports. Moreover, bearing exports to Belarus exceeded the volume sent to the second major destination, Kazakhstan (X tons), twofold. The third position in this ranking was taken by Poland (X tons), with a X% share.

From 2012 to 2021, the average annual growth rate of volume to Belarus stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Kazakhstan (X% per year) and Poland (X% per year).

In value terms, the largest markets for bearing exported from Russia were Belarus ($X), Kazakhstan ($X) and Ukraine ($X), together comprising X% of total exports.

Kazakhstan, with a CAGR of X%, recorded 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

In 2021, the average bearing export price amounted to $X per ton, surging by X% against the previous year. Over the period under review, the export price, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 an increase of X%. Over the period under review, the average export prices attained the maximum at $X per ton in 2012; however, from 2013 to 2021, the export prices remained at a lower figure.

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 Ukraine ($X per ton), while the average price for exports to Poland ($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 Ukraine (X%), while the prices for the other major destinations experienced mixed trend patterns.

Bearing Imports

Imports into the Russian Federation

In 2022, the amount of ball or roller bearings imported into Russia shrank modestly to X tons, which is down by X% compared with the previous year. Overall, imports, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 when imports increased by X%. Imports peaked at X tons in 2017; however, from 2018 to 2022, imports remained at a lower figure.

In value terms, bearing imports declined to $X in 2022. In general, imports, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 when imports increased by X% against the previous year. Imports peaked at $X in 2017; however, from 2018 to 2022, imports stood at a somewhat lower figure.

Imports by Country

Kazakhstan (X tons), Malaysia (X tons) and Latvia (X tons) were the main suppliers of bearing imports to Russia, together comprising X% of total imports.

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

In value terms, the largest bearing suppliers to Russia were Germany ($X), Kazakhstan ($X) and Malaysia ($X), with a combined X% share of total imports. China, Japan, Belarus, France, Slovakia, Latvia, Italy, India, Vietnam and Ukraine lagged somewhat behind, together comprising a further X%.

Latvia, with a CAGR of X%, 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

The average bearing import price stood at $X per ton in 2021, growing by X% against the previous year. Overall, the import price continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2017 an increase of X%. As a result, import price reached the peak level of $X per ton. From 2018 to 2021, the average import prices remained at a somewhat 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 Germany ($X per ton), while the price for Kazakhstan ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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