Scandinavia: Needle Roller Bearing Market 2024

Needle Roller Bearing Market Size in Scandinavia

In 2021, the Scandinavia needle roller bearing market was finally on the rise to reach $X for the first time since 2018, thus ending a two-year declining trend. The total consumption indicated a buoyant expansion from 2012 to 2021: its value increased at an average annual rate of +5.6% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Needle Roller Bearing Production in Scandinavia

In value terms, needle roller bearing production fell to $X in 2021 estimated in export price. In general, production saw a abrupt decrease. The pace of growth appeared the most rapid in 2015 when the production volume increased by 196,256% against the previous year. As a result, production attained the peak level of $X. From 2016 to 2021, production growth remained at a somewhat lower figure.

Needle Roller Bearing Exports

Exports in Scandinavia

Needle roller bearing exports rose modestly to X tons in 2021, surging by 3.8% against the year before. The total export volume increased at an average annual rate of +2.0% from 2012 to 2021; the trend pattern remained relatively stable, with only minor fluctuations throughout the analyzed period. The pace of growth appeared the most rapid in 2014 with an increase of 21% against the previous year. As a result, the exports attained the peak of X tons. From 2015 to 2021, the growth of the exports remained at a somewhat lower figure.

In value terms, needle roller bearing exports reached $X in 2021. Overall, exports showed a relatively flat trend pattern. The growth pace was the most rapid in 2018 when exports increased by 28%. Over the period under review, the exports hit record highs at $X in 2019; however, from 2020 to 2021, the exports remained at a lower figure.

Exports by Country

Denmark (X tons) and Sweden (X tons) dominates exports structure, together comprising 93% of total exports. It was distantly followed by Finland (X tons), mixing up a 5.8% share of total exports.

From 2012 to 2021, the biggest increases were in Denmark (with a CAGR of +20.3%), while shipments for the other leaders experienced mixed trends in the exports figures.

In value terms, Sweden ($X) remains the largest needle roller bearing supplier in Scandinavia, comprising 59% of total exports. The second position in the ranking was held by Denmark ($X), with a 29% share of total exports.

In Sweden, needle roller bearing exports increased at an average annual rate of +8.3% over the period from 2012-2021. The remaining exporting countries recorded the following average annual rates of exports growth: Denmark (+1.7% per year) and Finland (-16.1% per year).

Export Prices by Country

In 2021, the export price in Scandinavia amounted to $X per ton, stabilizing at the previous year. Overall, the export price, however, recorded a mild reduction. The most prominent rate of growth was recorded in 2018 an increase of 34%. The level of export peaked at $X per ton in 2012; however, from 2013 to 2021, the export prices failed to regain momentum.

There were significant differences in the average prices amongst the major exporting countries. In 2021, the country with the highest price was Finland ($X per ton), while Denmark ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Sweden (+5.0%), while the other leaders experienced mixed trends in the export price figures.

Needle Roller Bearing Imports

Imports in Scandinavia

In 2021, supplies from abroad of needle roller bearings was finally on the rise to reach X tons after two years of decline. Over the period under review, imports enjoyed a prominent expansion. The most prominent rate of growth was recorded in 2018 when imports increased by 47% against the previous year. As a result, imports reached the peak of X tons. From 2019 to 2021, the growth of imports remained at a lower figure.

In value terms, needle roller bearing imports skyrocketed to $X in 2021. Total imports indicated temperate growth from 2012 to 2021: its value increased at an average annual rate of +4.0% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

Sweden prevails in imports structure, reaching X tons, which was near 85% of total imports in 2021. It was distantly followed by Denmark (X tons), committing an 8.4% share of total imports. Finland (X tons) and Norway (X tons) followed a long way behind the leaders.

Sweden was also the fastest-growing in terms of the needle roller bearings imports, with a CAGR of +9.9% from 2012 to 2021. At the same time, Denmark (+5.9%) displayed positive paces of growth. Norway experienced a relatively flat trend pattern. By contrast, Finland (-5.0%) illustrated a downward trend over the same period. Sweden (+12 p.p.) significantly strengthened its position in terms of the total imports, while Denmark, Norway and Finland saw its share reduced by -1.6%, -1.6% and -9% from 2012 to 2021, respectively.

In value terms, Sweden ($X) constitutes the largest market for imported needle roller bearings in Scandinavia, comprising 80% of total imports. The second position in the ranking was held by Denmark ($X), with an 8.1% share of total imports. It was followed by Finland, with an 8.1% share.

From 2012 to 2021, the average annual rate of growth in terms of value in Sweden stood at +7.0%. In the other countries, the average annual rates were as follows: Denmark (-2.9% per year) and Finland (-4.6% per year).

Import Prices by Country

In 2021, the import price in Scandinavia amounted to $X per ton, with an increase of 7% against the previous year. In general, the import price, however, showed a pronounced descent. The most prominent rate of growth was recorded in 2020 when the import price increased by 24% against the previous year. The level of import peaked at $X per ton in 2014; however, from 2015 to 2021, import prices remained at a lower figure.

Prices varied noticeably country of destination: the country with the highest price was Finland ($X per ton), while Sweden ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Norway (+1.2%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform