Russian Federation: Needle Roller Bearing Market 2024

Needle Roller Bearing Market Size in the Russian Federation

In 2021, the Russian needle roller bearing market increased by 0.6% to $X, rising for the fifth year in a row after four years of decline. In general, consumption, however, continues to indicate a abrupt setback. Needle roller bearing consumption peaked at $X in 2012; however, from 2013 to 2021, consumption stood at a somewhat lower figure.

Needle Roller Bearing Production in the Russian Federation

In value terms, needle roller bearing production contracted modestly to $X in 2021 estimated in export price. Over the period under review, production, however, continues to indicate a deep setback. The pace of growth appeared the most rapid in 2018 with an increase of 15% against the previous year. Needle roller bearing production peaked at $X in 2012; however, from 2013 to 2021, production failed to regain momentum.

Needle Roller Bearing Exports

Exports from the Russian Federation

In 2021, shipments abroad of needle roller bearings decreased by -33.8% to X tons, falling for the second consecutive year after two years of growth. Over the period under review, exports, however, recorded measured growth. The most prominent rate of growth was recorded in 2019 when exports increased by 57% against the previous year. As a result, the exports attained the peak of X tons. From 2020 to 2021, the growth of the exports failed to regain momentum.

In value terms, needle roller bearing exports fell dramatically to $X in 2021. Overall, exports continue to indicate a perceptible decline. The pace of growth appeared the most rapid in 2019 when exports increased by 29% against the previous year. The exports peaked at $X in 2020, and then fell remarkably in the following year.

Exports by Country

Belarus (X tons) was the main destination for needle roller bearing exports from Russia, accounting for a 69% share of total exports. Moreover, needle roller bearing exports to Belarus exceeded the volume sent to the second major destination, Kazakhstan (X tons), fourfold.

From 2012 to 2021, the average annual rate of growth in terms of volume to Belarus was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Kazakhstan (+31.0% per year) and Ukraine (+0.5% per year).

In value terms, Belarus ($X) remains the key foreign market for needle roller bearing exports from Russia, comprising 53% of total exports. The second position in the ranking was held by Kazakhstan ($X), with a 16% share of total exports.

From 2012 to 2021, the average annual growth rate of value to Belarus amounted to -6.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Kazakhstan (+13.1% per year) and Ukraine (-9.0% per year).

Export Prices by Country

The average needle roller bearing export price stood at $X per ton in 2021, surging by 9.1% against the previous year. Over the period under review, the export price, however, saw a deep downturn. The most prominent rate of growth was recorded in 2020 when the average export price increased by 45%. The export price peaked at $X per ton in 2012; however, from 2013 to 2021, the export prices stood at a somewhat lower figure.

Average prices varied noticeably for the major foreign markets. In 2021, the country with the highest price was Kazakhstan ($X per ton), while the average price for exports to Belarus ($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 Belarus (-6.7%), while the prices for the other major destinations experienced a decline.

Needle Roller Bearing Imports

Imports into the Russian Federation

In 2021, purchases abroad of needle roller bearings decreased by -23.1% to X tons for the first time since 2018, thus ending a two-year rising trend. Over the period under review, imports recorded a noticeable contraction. The most prominent rate of growth was recorded in 2019 with an increase of 147% against the previous year. Imports peaked at X tons in 2014; however, from 2015 to 2021, imports stood at a somewhat lower figure.

In value terms, needle roller bearing imports soared to $X in 2021. Overall, imports, however, posted perceptible growth. The pace of growth was the most pronounced in 2017 with an increase of 147%. As a result, imports reached the peak of $X. From 2018 to 2021, the growth of imports failed to regain momentum.

Imports by Country

In 2021, China (X tons) constituted the largest needle roller bearing supplier to Russia, with a 26% share of total imports. Moreover, needle roller bearing imports from China exceeded the figures recorded by the second-largest supplier, India (X tons), threefold. Malaysia (X tons) ranked third in terms of total imports with an 8.3% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from China stood at -10.4%. The remaining supplying countries recorded the following average annual rates of imports growth: India (+48.4% per year) and Malaysia (+28.4% per year).

In value terms, Germany ($X), Japan ($X) and China ($X) appeared to be the largest needle roller bearing suppliers to Russia, together comprising 48% of total imports. These countries were followed by the United States, Turkey, Belarus, India, Estonia, South Korea and Malaysia, which together accounted for a further 25%.

In terms of the main suppliers, Estonia, with a CAGR of +55.9%, recorded the highest rates of growth with regard to 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

In 2021, the average needle roller bearing import price amounted to $X per ton, jumping by 54% against the previous year. Over the period under review, the import price continues to indicate strong growth. Over the period under review, average import prices attained the maximum at $X per ton in 2017; however, from 2018 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 the United States ($X per ton), while the price for Malaysia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United States (+10.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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