Slovakia: Tools For Bearing Market 2024

Tools For Bearing Market Size in Slovakia

The Slovak tools for bearing market shrank rapidly to $X in 2022, falling by -16.6% against the previous year. Over the period under review, the total consumption indicated pronounced growth from 2012 to 2022: its value increased at an average annual rate of +4.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +2.5% against 2020 indices. Over the period under review, the market hit record highs at $X in 2018; however, from 2019 to 2022, consumption failed to regain momentum.

Tools For Bearing Production in Slovakia

In value terms, tools for bearing production reached $X in 2022 estimated in export price. Overall, production, however, recorded a remarkable increase. The most prominent rate of growth was recorded in 2017 with an increase of 28% against the previous year. Over the period under review, production hit record highs at $X in 2019; however, from 2020 to 2022, production stood at a somewhat lower figure.

Tools For Bearing Exports

Exports from Slovakia

In 2022, overseas shipments of balls, needles and rollers for ball or roller bearings increased by 3.9% to X tons, rising for the second consecutive year after two years of decline. In general, exports, however, continue to indicate a slight downturn. The pace of growth appeared the most rapid in 2014 with an increase of 15%. The exports peaked at X tons in 2018; however, from 2019 to 2022, the exports stood at a somewhat lower figure.

In value terms, tools for bearing exports expanded sharply to $X in 2022. Over the period under review, exports, however, continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 with an increase of 11% against the previous year. Over the period under review, the exports attained the peak figure at $X in 2018; however, from 2019 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Germany (X tons), France (X tons) and Romania (X tons) were the main destinations of tools for bearing exports from Slovakia, with a combined 78% share of total exports. Mexico, the UK, Italy, Sweden and Spain lagged somewhat behind, together comprising a further 19%.

From 2012 to 2022, the biggest increases were recorded for Mexico (with a CAGR of +193.3%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X) remains the key foreign market for balls, needles and rollers for ball or roller bearings exports from Slovakia, comprising 53% of total exports. The second position in the ranking was taken by France ($X), with a 17% share of total exports. It was followed by Romania, with a 7.6% share.

From 2012 to 2022, the average annual growth rate of value to Germany totaled -2.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: France (-0.7% per year) and Romania (+126.8% per year).

Export Prices by Country

In 2022, the average tools for bearing export price amounted to $X per ton, remaining stable against the previous year. Overall, the export price recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2020 an increase of 18% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2021 to 2022, the average export prices remained at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Sweden ($X per ton), while the average price for exports to the UK ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Italy (+5.0%), while the prices for the other major destinations experienced more modest paces of growth.

Tools For Bearing Imports

Imports into Slovakia

In 2022, tools for bearing imports into Slovakia shrank to X tons, which is down by -11% compared with the previous year. Overall, total imports indicated a modest increase from 2012 to 2022: its volume increased at an average annual rate of +1.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports decreased by +0.2% against 2020 indices. The pace of growth appeared the most rapid in 2013 when imports increased by 86%. Imports peaked at X tons in 2017; however, from 2018 to 2022, imports stood at a somewhat lower figure.

In value terms, tools for bearing imports declined significantly to $X in 2022. The total import value increased at an average annual rate of +1.3% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2021 when imports increased by 23%. Over the period under review, imports hit record highs at $X in 2018; however, from 2019 to 2022, imports failed to regain momentum.

Imports by Country

Italy (X tons), Germany (X tons) and Spain (X tons) were the main suppliers of tools for bearing imports to Slovakia, with a combined 84% share of total imports. Poland, China and the UK lagged somewhat behind, together comprising a further 14%.

From 2012 to 2022, the biggest increases were recorded for Poland (with a CAGR of +13.3%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X) constituted the largest supplier of balls, needles and rollers for ball or roller bearings to Slovakia, comprising 47% of total imports. The second position in the ranking was held by Spain ($X), with a 19% share of total imports. It was followed by Italy, with a 16% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Germany was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Spain (+10.4% per year) and Italy (-0.6% per year).

Import Prices by Country

The average tools for bearing import price stood at $X per ton in 2022, which is down by -5.6% against the previous year. Over the period under review, the import price, however, continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2014 when the average import price increased by 55%. The import price peaked at $X per ton in 2021, and then reduced in the following year.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Germany ($X per ton), while the price for Italy ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Germany (+1.3%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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