Scandinavia: Roller Bearing Market 2022

Roller Bearing Market Size in Scandinavia

In 2021, the Scandinavia roller bearing market decreased by -1.1% to $X, falling for the second consecutive year after two years of growth. Over the period under review, consumption posted a buoyant increase. As a result, consumption reached the peak level of $X. From 2020 to 2021, the growth of the market remained at a lower figure.

Roller Bearing Production in Scandinavia

In value terms, roller bearing production expanded sharply to $X in 2021 estimated in export price. Over the period under review, production enjoyed resilient growth. The growth pace was the most rapid in 2019 when the production volume increased by 215%. As a result, production attained the peak level of $X. From 2020 to 2021, production growth remained at a somewhat lower figure.

Roller Bearing Exports

Exports in Scandinavia

After three years of decline, shipments abroad of roller bearings increased by 6.9% to X tons in 2021. Overall, exports, however, continue to indicate a perceptible slump. The most prominent rate of growth was recorded in 2017 with an increase of 33%. Over the period under review, the exports reached the maximum at X tons in 2013; however, from 2014 to 2021, the exports failed to regain momentum.

In value terms, roller bearing exports totaled $X in 2021. Over the period under review, exports, however, saw a abrupt slump. The pace of growth appeared the most rapid in 2013 with an increase of 37% against the previous year. As a result, the exports attained the peak of $X. From 2014 to 2021, the growth of the exports failed to regain momentum.

Exports by Country

Sweden represented the major exporting country with an export of about X tons, which resulted at 52% of total exports. Finland (X tons) took a 22% share (based on physical terms) of total exports, which put it in second place, followed by Denmark (21%) and Norway (4.8%).

From 2012 to 2021, average annual rates of growth with regard to roller bearing exports from Sweden stood at -8.5%. At the same time, Finland (+7.4%) and Denmark (+1.3%) displayed positive paces of growth. Moreover, Finland emerged as the fastest-growing exporter exported in Scandinavia, with a CAGR of +7.4% from 2012-2021. Norway experienced a relatively flat trend pattern. Finland (+15 p.p.) and Denmark (+8.5 p.p.) significantly strengthened its position in terms of the total exports, while Sweden saw its share reduced by -24.4% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Sweden ($X), Denmark ($X) and Finland ($X) appeared to be the countries with the highest levels of exports in 2021, with a combined 94% share of total exports.

In terms of the main exporting countries, Finland, with a CAGR of +5.8%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced a decline in the exports figures.

Export Prices by Country

In 2021, the export price in Scandinavia amounted to $X per ton, surging by 2.9% against the previous year. In general, the export price, however, recorded a slight shrinkage. The most prominent rate of growth was recorded in 2013 an increase of 19%. As a result, the export price attained the peak level of $X per ton. From 2014 to 2021, the the export prices remained at a somewhat lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Sweden (+1.8%), while the other leaders experienced a decline in the export price figures.

Roller Bearing Imports

Imports in Scandinavia

In 2021, roller bearing imports in Scandinavia reached X tons, almost unchanged from 2020. Overall, imports showed prominent growth. The most prominent rate of growth was recorded in 2018 when imports increased by 113%. The volume of import peaked in 2021 and is expected to retain growth in the immediate term.

In value terms, roller bearing imports dropped modestly to $X in 2021. Over the period under review, imports continue to indicate a moderate increase. The most prominent rate of growth was recorded in 2018 when imports increased by 66% against the previous year. The level of import peaked at $X in 2020, and then dropped slightly in the following year.

Imports by Country

Denmark represented the main importing country with an import of around X tons, which resulted at 69% of total imports. Finland (X tons) took the second position in the ranking, followed by Sweden (X tons). All these countries together took near 26% share of total imports. Norway (X tons) followed a long way behind the leaders.

Denmark was also the fastest-growing in terms of the roller bearings imports, with a CAGR of +32.4% from 2012 to 2021. Sweden experienced a relatively flat trend pattern. Finland (-3.7%) and Norway (-6.3%) illustrated a downward trend over the same period. From 2012 to 2021, the share of Denmark increased by +57 percentage points.

In value terms, Denmark ($X) constitutes the largest market for imported roller bearings in Scandinavia, comprising 58% of total imports. The second position in the ranking was taken by Sweden ($X), with a 17% share of total imports. It was followed by Finland, with a 17% share.

In Denmark, roller bearing imports increased at an average annual rate of +20.3% over the period from 2012-2021. The remaining importing countries recorded the following average annual rates of imports growth: Sweden (-2.8% per year) and Finland (-2.2% per year).

Import Prices by Country

The import price in Scandinavia stood at $X per ton in 2021, which is down by -5.5% against the previous year. Overall, the import price continues to indicate a perceptible contraction. The pace of growth was the most pronounced in 2016 when the import price increased by 35%. The level of import peaked at $X per ton in 2013; however, from 2014 to 2021, import prices failed to regain momentum.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Finland (+1.6%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform