Serbia: Cylindrical Roller Bearing Market 2024

Cylindrical Roller Bearing Market Size in Serbia

The Serbian cylindrical roller bearing market skyrocketed to $X in 2022, picking up by 31% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). In general, consumption saw a relatively flat trend pattern. Over the period under review, the market reached the peak level at $X in 2018; however, from 2019 to 2022, consumption failed to regain momentum.

Cylindrical Roller Bearing Exports

Exports from Serbia

In 2022, overseas shipments of cylindrical roller bearings increased by 67% to X tons, rising for the second year in a row after two years of decline. Over the period under review, exports posted resilient growth. The growth pace was the most rapid in 2018 when exports increased by 534%. As a result, the exports attained the peak of X tons. From 2019 to 2022, the growth of the exports remained at a lower figure.

In value terms, cylindrical roller bearing exports surged to $X in 2022. Overall, exports continue to indicate a strong expansion. The pace of growth appeared the most rapid in 2021 with an increase of 166%. Over the period under review, the exports attained the peak figure in 2022 and are likely to see steady growth in years to come.

Exports by Country

The biggest shipments were from Germany (X tons), China (X tons) and Japan (X tons), together reaching 53% of total export. Romania (X tons) held a 7.7% share (based on physical terms) of total exports, which put it in second place, followed by Slovakia (5.6%). The following exporters - Taiwan (Chinese) (X tons), Kazakhstan (X tons), Canada (X tons), Russia (X tons), Hong Kong SAR (X tons), Poland (X tons), France (X tons) and Italy (X tons) - together made up 19% of total exports.

From 2012 to 2022, the biggest increases were recorded for Taiwan (Chinese) (with a CAGR of +43.8%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X) remains the largest cylindrical roller bearing supplier from Serbia, comprising 27% of global exports. The second position in the ranking was held by Japan ($X), with an 11% share of global exports. It was followed by China, with an 8.9% share.

In Germany, cylindrical roller bearing exports remained relatively stable over the period from 2012-2022. In the other countries, the average annual rates were as follows: Japan (-0.3% per year) and China (+6.6% per year).

Export Prices by Country

The export price in Serbia stood at $X per ton in 2022, picking up by 11% against the previous year. Over the period under review, the export price continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2017 when the export price increased by 79%. As a result, the export price reached the peak level of $X per ton. From 2018 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was France ($X per ton), while Russia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by France (+3.3%), while the other leaders experienced more modest paces of growth.

Cylindrical Roller Bearing Imports

Imports into Serbia

In 2022, cylindrical roller bearing imports into Serbia skyrocketed to X tons, rising by 33% against the year before. In general, imports showed a mild expansion. The growth pace was the most rapid in 2018 with an increase of 87% against the previous year. As a result, imports attained the peak of X tons. From 2019 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, cylindrical roller bearing imports surged to $X in 2022. The total import value increased at an average annual rate of +1.5% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, imports hit record highs at $X in 2018; however, from 2019 to 2022, imports remained at a lower figure.

Imports by Country

China (X tons), Russia (X tons) and Germany (X tons) represented roughly 42% of total imports in 2022. It was distantly followed by the United States (X tons), committing a 5.7% share of total imports. Spain (X tons), Mexico (X tons), Italy (X tons), Brazil (X tons), Thailand (X tons), South Korea (X tons), Indonesia (X tons), Turkey (X tons) and the Czech Republic (X tons) took a relatively small share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by Thailand (with a CAGR of +20.0%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest cylindrical roller bearing importing markets into Serbia were China ($X), Germany ($X) and the United States ($X), with a combined 43% share of total imports. Mexico, Italy, Brazil, Russia, South Korea, Spain, Indonesia, Turkey, the Czech Republic and Thailand lagged somewhat behind, together accounting for a further 23%.

Among the main importing countries, Spain, with a CAGR of +13.7%, recorded the highest growth rate of the value of imports, 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 Serbia stood at $X per ton in 2022, rising by 5.8% against the previous year. Overall, the import price recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 an increase of 62%. Over the period under review, import prices attained the peak figure at $X per ton in 2013; however, from 2014 to 2022, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was the United States ($X per ton), while Russia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Mexico (+2.6%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform