Russian Federation: Roller Bearing Market 2024

Roller Bearing Market Size in the Russian Federation

The Russian roller bearing market fell modestly to $X in 2022, shrinking by -2.9% 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, however, saw a deep downturn. As a result, consumption attained the peak level of $X. From 2017 to 2022, the growth of the market remained at a somewhat lower figure.

Roller Bearing Exports

Exports from the Russian Federation

Roller bearing exports from Russia contracted to X tons in 2022, dropping by -10.6% against the previous year's figure. Over the period under review, exports recorded a pronounced slump. The pace of growth appeared the most rapid in 2013 with an increase of 166%. As a result, the exports attained the peak of X tons. From 2014 to 2022, the growth of the exports failed to regain momentum.

In value terms, roller bearing exports dropped markedly to $X in 2022. Overall, exports saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 when exports increased by 174%. As a result, the exports reached the peak of $X. From 2014 to 2022, the growth of the exports remained at a somewhat lower figure.

Exports by Country

China was the largest exporter of roller bearings in the world, with the volume of exports finishing at X tons, which was near 43% of total exports in 2022. Singapore (X tons) took a 9.7% share (based on physical terms) of total exports, which put it in second place, followed by Germany (7.2%), France (6.9%), Slovakia (5.4%) and the United States (0.8%). Italy (X tons), South Korea (X tons), Indonesia (X tons), Hong Kong SAR (X tons), Turkey (X tons), Austria (X tons) and Romania (X tons) took a relatively small share of total exports.

Exports from China increased at an average annual rate of +22.6% from 2012 to 2022. At the same time, Indonesia (+35.7%), Turkey (+8.5%), Singapore (+1.2%) and Slovakia (+1.1%) displayed positive paces of growth. Moreover, Indonesia emerged as the fastest-growing exporter exported in the world, with a CAGR of +35.7% from 2012-2022. By contrast, Italy (-1.9%), Germany (-2.0%), France (-2.2%), South Korea (-9.7%), Hong Kong SAR (-13.7%), the United States (-18.4%), Austria (-22.3%) and Romania (-22.4%) illustrated a downward trend over the same period. China (+37 p.p.) and Indonesia (+2.2 p.p.) significantly strengthened its position in terms of the global exports, while Italy, Germany, France, Romania, Hong Kong SAR, South Korea, the United States and Austria saw its share reduced by -1.5%, -2.6%, -2.7%, -4.9%, -6%, -6.3%, -6.4% and -7.2% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X), Singapore ($X) and Germany ($X) appeared to be the countries with the highest levels of exports in 2022, with a combined 45% share of total exports. Italy, the United States, France, Hong Kong SAR, Slovakia, South Korea, Austria, Turkey, Indonesia and Romania lagged somewhat behind, together comprising a further 31%.

Indonesia, with a CAGR of +16.1%, recorded the highest rates of growth with regard to the value of exports, among the main exporting countries over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The export price in Russia stood at $X per ton in 2022, declining by -5.2% against the previous year. Overall, the export price, however, saw a moderate increase. The most prominent rate of growth was recorded in 2017 when the export price increased by 79%. As a result, the export price reached the peak level of $X per ton. From 2018 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was the United States ($X per ton), while Indonesia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+16.3%), while the other leaders experienced more modest paces of growth.

Roller Bearing Imports

Imports into the Russian Federation

In 2022, purchases abroad of roller bearings was finally on the rise to reach X tons after five years of decline. Over the period under review, imports, however, saw a perceptible curtailment. The most prominent rate of growth was recorded in 2016 when imports increased by 147%. As a result, imports attained the peak of X tons. From 2017 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, roller bearing imports fell to $X in 2022. In general, imports, however, continue to indicate a abrupt contraction. The most prominent rate of growth was recorded in 2016 with an increase of 140% against the previous year. As a result, imports attained the peak of $X. From 2017 to 2022, the growth of imports remained at a lower figure.

Imports by Country

In 2022, Thailand (X tons) and Indonesia (X tons) represented the main importers of roller bearingsacross the globe, together making up 32% of total imports. It was distantly followed by Germany (X tons), creating a 6.2% share of total imports. India (X tons), Italy (X tons), Canada (X tons), Malaysia (X tons), Spain (X tons), South Korea (X tons), France (X tons), Singapore (X tons), Poland (X tons) and Austria (X tons) followed a long way behind the leaders.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by Thailand (with a CAGR of +18.5%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest roller bearing importing markets into Russia were Indonesia ($X), Germany ($X) and India ($X), with a combined 24% share of total imports.

Indonesia, with a CAGR of +4.2%, saw the highest growth rate of the value of imports, in terms of the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the import price in Russia amounted to $X per ton, declining by -13.8% against the previous year. Over the period under review, the import price showed a pronounced downturn. The pace of growth was the most pronounced in 2021 when the import price increased by 31% against the previous year. Over the period under review, import prices attained the maximum at $X per ton in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Canada ($X per ton), while Thailand ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by France (+6.9%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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