Scandinavia: Spherical Roller Bearing Market 2024

Spherical Roller Bearing Market Size in Scandinavia

The Scandinavia spherical roller bearing market skyrocketed to $X in 2021, rising by 26% against the previous year. The total consumption indicated a prominent increase from 2012 to 2021: its value increased at an average annual rate of +5.3% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +56.2% against 2018 indices. The level of consumption peaked in 2021 and is likely to see steady growth in the near future.

Spherical Roller Bearing Production in Scandinavia

In value terms, spherical roller bearing production reached $X in 2021 estimated in export price. Overall, production, however, continues to indicate a abrupt slump. The growth pace was the most rapid in 2019 when the production volume increased by 19%. Over the period under review, production hit record highs at $X in 2012; however, from 2013 to 2021, production remained at a lower figure.

Spherical Roller Bearing Exports

Exports in Scandinavia

In 2021, overseas shipments of spherical roller bearings increased by 5.5% to X tons, rising for the fourth year in a row after five years of decline. Overall, exports, however, recorded a noticeable decrease. The most prominent rate of growth was recorded in 2018 with an increase of 9.3%. The volume of export peaked at X tons in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

In value terms, spherical roller bearing exports skyrocketed to $X in 2021. In general, exports, however, continue to indicate a pronounced decrease. The pace of growth appeared the most rapid in 2018 with an increase of 19%. The level of export peaked at $X in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Sweden (X tons) represented roughly 98% of total exports in 2021.

Sweden was also the fastest-growing in terms of the spherical roller bearings exports, with a CAGR of -3.1% from 2012 to 2021. The shares of the largest exporters remained relatively stable throughout the analyzed period.

In value terms, Sweden ($X) also remains the largest spherical roller bearing supplier in Scandinavia.

In Sweden, spherical roller bearing exports declined by an average annual rate of -4.4% over the period from 2012-2021.

Export Prices by Country

The export price in Scandinavia stood at $X per ton in 2021, with an increase of 10% against the previous year. Over the period under review, the export price, however, showed a slight shrinkage. The level of export peaked at $X per ton in 2013; however, from 2014 to 2021, the export prices stood at a somewhat lower figure.

As there is only one major export destination, the average price level is determined by prices for Sweden.

From 2012 to 2021, the rate of growth in terms of prices for Sweden amounted to -1.3% per year.

Spherical Roller Bearing Imports

Imports in Scandinavia

In 2021, the amount of spherical roller bearings imported in Scandinavia skyrocketed to X tons, increasing by 52% against the year before. Total imports indicated a strong increase from 2012 to 2021: its volume increased at an average annual rate of +6.1% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +67.9% against 2018 indices. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, spherical roller bearing imports skyrocketed to $X in 2021. The total import value increased at an average annual rate of +2.2% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2019 when imports increased by 32%. Over the period under review, imports attained the peak figure at $X in 2016; however, from 2017 to 2021, imports failed to regain momentum.

Imports by Country

Denmark was the key importing country with an import of around X tons, which reached 79% of total imports. Finland (X tons) took the second position in the ranking, distantly followed by Sweden (X tons). All these countries together held approx. 19% share of total imports. Norway (X tons) took a relatively small share of total imports.

Denmark was also the fastest-growing in terms of the spherical roller bearings imports, with a CAGR of +10.8% from 2012 to 2021. Finland experienced a relatively flat trend pattern. Norway (-6.2%) and Sweden (-7.8%) illustrated a downward trend over the same period. While the share of Denmark (+25 p.p.) increased significantly in terms of the total imports from 2012-2021, the share of Norway (-4.1 p.p.), Finland (-8.3 p.p.) and Sweden (-13.1 p.p.) displayed negative dynamics.

In value terms, Denmark ($X) constitutes the largest market for imported spherical roller bearings in Scandinavia, comprising 61% of total imports. The second position in the ranking was held by Finland ($X), with a 24% share of total imports. It was followed by Sweden, with a 9.7% share.

In Denmark, spherical roller bearing imports expanded at an average annual rate of +6.6% over the period from 2012-2021. The remaining importing countries recorded the following average annual rates of imports growth: Finland (+1.3% per year) and Sweden (-6.4% per year).

Import Prices by Country

In 2021, the import price in Scandinavia amounted to $X per ton, waning by -20.9% against the previous year. Overall, the import price recorded a pronounced decrease. The growth pace was the most rapid in 2014 an increase of 31% against the previous year. As a result, import price reached the peak level of $X per ton. From 2015 to 2021, the 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 Sweden (+1.5%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform