Scandinavia: Tapered Roller Bearing Market 2024

Tapered Roller Bearing Market Size in Scandinavia

The Scandinavia tapered roller bearing market rose remarkably to $X in 2021, growing by 10% against the previous year. Overall, consumption recorded a prominent increase. Over the period under review, the market hit record highs at $X in 2019; however, from 2020 to 2021, consumption stood at a somewhat lower figure.

Tapered Roller Bearing Production in Scandinavia

In value terms, tapered roller bearing production declined dramatically to $X in 2021 estimated in export price. In general, production showed a precipitous setback. The growth pace was the most rapid in 2020 when the production volume increased by 523% against the previous year. Over the period under review, production hit record highs at $X in 2012; however, from 2013 to 2021, production stood at a somewhat lower figure.

Tapered Roller Bearing Exports

Exports in Scandinavia

In 2021, the amount of tapered roller bearings exported in Scandinavia shrank notably to X tons, waning by -19.5% compared with the previous year. In general, exports recorded a deep setback. The pace of growth was the most pronounced in 2020 when exports increased by 19%. Over the period under review, the exports reached the maximum at X tons in 2014; however, from 2015 to 2021, the exports failed to regain momentum.

In value terms, tapered roller bearing exports dropped significantly to $X in 2021. Over the period under review, exports recorded a deep slump. The pace of growth appeared the most rapid in 2020 when exports increased by 32% against the previous year. Over the period under review, the exports hit record highs at $X in 2013; however, from 2014 to 2021, the exports remained at a lower figure.

Exports by Country

Sweden prevails in exports structure, finishing at X tons, which was near 91% of total exports in 2021. It was distantly followed by Denmark (X tons), mixing up a 5.1% share of total exports. The following exporters - Finland (X tons) and Norway (X tons) - each reached a 4.1% share of total exports.

From 2012 to 2021, average annual rates of growth with regard to tapered roller bearing exports from Sweden stood at -6.1%. At the same time, Norway (+1.7%) displayed positive paces of growth. Moreover, Norway emerged as the fastest-growing exporter exported in Scandinavia, with a CAGR of +1.7% from 2012-2021. Denmark experienced a relatively flat trend pattern. By contrast, Finland (-9.1%) illustrated a downward trend over the same period. From 2012 to 2021, the share of Denmark increased by +2.1 percentage points. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Sweden ($X) remains the largest tapered roller bearing supplier in Scandinavia, comprising 81% of total exports. The second position in the ranking was taken by Denmark ($X), with an 8.1% share of total exports. It was followed by Norway, with a 7.3% share.

From 2012 to 2021, the average annual rate of growth in terms of value in Sweden amounted to -6.1%. In the other countries, the average annual rates were as follows: Denmark (+1.4% per year) and Norway (+6.3% per year).

Export Prices by Country

The export price in Scandinavia stood at $X per ton in 2021, waning by -2.2% against the previous year. Over the period under review, the export price, however, saw a relatively flat trend pattern. The growth pace was the most rapid in 2020 when the export price increased by 11% against the previous year. As a result, the export price attained the peak level of $X per ton, and then fell in the following year.

Prices varied noticeably country of origin: the country with the highest price was Norway ($X per ton), while Sweden ($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 (+4.5%), while the other leaders experienced more modest paces of growth.

Tapered Roller Bearing Imports

Imports in Scandinavia

In 2021, purchases abroad of tapered roller bearings decreased by -0.6% to X tons, falling for the second consecutive year after four years of growth. Total imports indicated a buoyant increase from 2012 to 2021: its volume increased at an average annual rate of +6.2% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports decreased by -10.6% against 2019 indices. The pace of growth appeared the most rapid in 2016 with an increase of 49%. Over the period under review, imports attained the peak figure at X tons in 2019; however, from 2020 to 2021, imports stood at a somewhat lower figure.

In value terms, tapered roller bearing imports rose notably to $X in 2021. Total imports indicated a buoyant expansion from 2012 to 2021: its value increased at an average annual rate of +5.1% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2016 when imports increased by 24%. The level of import peaked in 2021 and is likely to continue growth in the immediate term.

Imports by Country

Sweden (X tons) and Denmark (X tons) dominates imports structure, together making up 93% of total imports. It was distantly followed by Finland (X tons), mixing up a 5.5% share of total imports.

From 2012 to 2021, the biggest increases were recorded for Denmark (with a CAGR of +19.7%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Sweden ($X), Denmark ($X) and Finland ($X) constituted the countries with the highest levels of imports in 2021, together comprising 97% of total imports.

Denmark, with a CAGR of +16.7%, recorded the highest rates of growth with regard to the value of imports, among 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

The import price in Scandinavia stood at $X per ton in 2021, growing by 13% against the previous year. Overall, the import price, however, saw a slight slump. The level of import peaked at $X per ton in 2014; however, from 2015 to 2021, import prices failed to regain momentum.

Average prices varied somewhat amongst the major importing countries. In 2021, 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 Sweden (-1.1%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform