Russian Federation: Tools For Bearing Market 2024

Tools For Bearing Market Size in the Russian Federation

The Russian tools for bearing market dropped to $X in 2022, shrinking by -13.3% 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). In general, the total consumption indicated a slight increase from 2012 to 2022: its value increased at an average annual rate of +1.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +68.5% against 2015 indices. As a result, consumption attained the peak level of $X, and then declined in the following year.

Tools For Bearing Exports

Exports from the Russian Federation

In 2022, exports of balls, needles and rollers for ball or roller bearings from Russia contracted to X tons, waning by -9.6% on 2021 figures. Overall, exports saw a perceptible descent. The most prominent rate of growth was recorded in 2013 with an increase of 46% against the previous year. As a result, the exports reached the peak of X tons. From 2014 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, tools for bearing exports rose markedly to $X in 2022. Over the period under review, exports showed a noticeable decline. The most prominent rate of growth was recorded in 2017 when exports increased by 44% against the previous year. Over the period under review, the exports attained the maximum at $X in 2013; however, from 2014 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Kazakhstan (X tons) was the main destination for tools for bearing exports from Russia, accounting for a 96% share of total exports. It was followed by Kyrgyzstan (X tons), with a 1.7% share of total exports.

From 2012 to 2022, the average annual growth rate of volume to Kazakhstan stood at +37.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Kyrgyzstan (+91.9% per year) and Ukraine (-39.1% per year).

In value terms, Kazakhstan ($X) emerged as the key foreign market for balls, needles and rollers for ball or roller bearings exports from Russia, comprising 71% of total exports. The second position in the ranking was held by Kyrgyzstan ($X), with a 0.8% share of total exports.

From 2012 to 2022, the average annual growth rate of value to Kazakhstan amounted to +31.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Kyrgyzstan (+94.3% per year) and Ukraine (-41.8% per year).

Export Prices by Country

The average tools for bearing export price stood at $X per ton in 2022, surging by 16% against the previous year. Over the period under review, the export price, however, showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2020 an increase of 51%. As a result, the export price attained the peak level of $X per ton. From 2021 to 2022, the average export prices remained at a somewhat lower figure.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Ukraine ($X per ton), while the average price for exports to Kyrgyzstan ($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 Kyrgyzstan (+1.2%), while the prices for the other major destinations experienced a decline.

Tools For Bearing Imports

Imports into the Russian Federation

In 2022, the amount of balls, needles and rollers for ball or roller bearings imported into Russia shrank to X tons, waning by -12.1% against the previous year's figure. Over the period under review, total imports indicated a slight expansion from 2012 to 2022: its volume increased at an average annual rate of +1.0% 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 +53.8% against 2018 indices. The pace of growth appeared the most rapid in 2019 when imports increased by 43%. Over the period under review, imports attained the maximum at X tons in 2021, and then dropped in the following year.

In value terms, tools for bearing imports declined to $X in 2022. In general, imports, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when imports increased by 36%. As a result, imports reached the peak of $X, and then dropped in the following year.

Imports by Country

The United States (X tons), Germany (X tons) and China (X tons) were the main suppliers of tools for bearing imports to Russia, with a combined 93% share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by the United States (with a CAGR of +27.9%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest tools for bearing suppliers to Russia were Germany ($X), the United States ($X) and China ($X), together comprising 92% of total imports. Estonia, Kazakhstan, India and Italy lagged somewhat behind, together accounting for a further 4.4%.

Estonia, with a CAGR of +24.3%, 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 tools for bearing import price stood at $X per ton in 2022, remaining constant against the previous year. In general, the import price showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2017 when the average import price increased by 13%. The import price peaked at $X per ton in 2018; however, from 2019 to 2022, import prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was India ($X per ton), while the price for Kazakhstan ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Estonia (+8.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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