Russian Federation: Spherical Roller Bearing Market 2024

Spherical Roller Bearing Market Size in the Russian Federation

The Russian spherical roller bearing market expanded modestly to $X in 2021, with an increase of 3.1% against the previous year. Over the period under review, consumption, however, saw a relatively flat trend pattern. Over the period under review, the market attained the peak level at $X in 2019; however, from 2020 to 2021, consumption failed to regain momentum.

Spherical Roller Bearing Production in the Russian Federation

In value terms, spherical roller bearing production contracted to $X in 2021 estimated in export price. In general, production, however, posted a pronounced expansion. The most prominent rate of growth was recorded in 2013 with an increase of 28% against the previous year. Spherical roller bearing production peaked at $X in 2018; however, from 2019 to 2021, production failed to regain momentum.

Spherical Roller Bearing Exports

Exports from the Russian Federation

Spherical roller bearing exports from Russia rose remarkably to X tons in 2021, increasing by 7.5% against the year before. Over the period under review, exports, however, showed a mild setback. The most prominent rate of growth was recorded in 2016 when exports increased by 192%. The exports peaked at X tons in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

In value terms, spherical roller bearing exports rose significantly to $X in 2021. In general, exports, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 when exports increased by 186% against the previous year. Over the period under review, the exports reached the peak figure at $X in 2017; however, from 2018 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Kazakhstan (X tons), Belarus (X tons) and Ukraine (X tons) were the main destinations of spherical roller bearing exports from Russia, together accounting for 80% of total exports. These countries were followed by Pakistan, Turkey, Poland, Armenia, Azerbaijan, India and China, which together accounted for a further 16%.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Pakistan (with a CAGR of +206.6%), while the other leaders experienced more modest paces of growth.

In value terms, Kazakhstan ($X), Belarus ($X) and Ukraine ($X) appeared to be the largest markets for spherical roller bearing exported from Russia worldwide, together comprising 72% of total exports. Pakistan, India, Armenia, Poland, China, Turkey and Azerbaijan lagged somewhat behind, together comprising a further 21%.

Pakistan, with a CAGR of +180.4%, 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 spherical roller bearing export price amounted to $X per ton, approximately mirroring the previous year. Overall, the export price, however, saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2020 an increase of 18% against the previous year. Over the period under review, the average export prices reached the maximum at $X per ton in 2018; however, from 2019 to 2021, the export prices remained at a lower figure.

Prices varied noticeably country of destination: the country with the highest price was India ($X per ton), while the average price for exports to Turkey ($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 India (+21.6%), while the prices for the other major destinations experienced more modest paces of growth.

Spherical Roller Bearing Imports

Imports into the Russian Federation

In 2021, spherical roller bearing imports into Russia reached X tons, surging by 1.8% compared with the previous year's figure. In general, imports showed a measured expansion. The growth pace was the most rapid in 2016 when imports increased by 110% against the previous year. Imports peaked at X tons in 2017; however, from 2018 to 2021, imports remained at a lower figure.

In value terms, spherical roller bearing imports rose remarkably to $X in 2021. Overall, imports, however, recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2016 with an increase of 124% 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 spherical roller bearing supplier to Russia, accounting for a 36% share of total imports. Moreover, spherical roller bearing imports from Malaysia exceeded the figures recorded by the second-largest supplier, Sweden (X tons), threefold. The third position in this ranking was held by Belarus (X tons), with a 10% share.

From 2012 to 2021, the average annual growth rate of volume from Malaysia stood at +12.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Sweden (+16.7% per year) and Belarus (-1.3% per year).

In value terms, the largest spherical roller bearing suppliers to Russia were Sweden ($X), Malaysia ($X) and Belarus ($X), with a combined 52% share of total imports. Germany, China, Japan, India, Latvia, Vietnam and Indonesia lagged somewhat behind, together accounting for a further 31%.

Vietnam, with a CAGR of +343.6%, recorded the highest rates of growth with regard to 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

In 2021, the average spherical roller bearing import price amounted to $X per ton, increasing by 4.6% against the previous year. Over the period under review, the import price, however, continues to indicate a noticeable decline. The growth pace was the most rapid in 2017 when the average import price increased by 7.6%. Over the period under review, average import prices reached the maximum at $X per ton in 2012; however, from 2013 to 2021, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was Japan ($X per ton), while the price for Indonesia ($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 (+10.7%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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