Slovakia: Needle Roller Bearing Market 2024

Needle Roller Bearing Market Size in Slovakia

After three years of growth, the Slovak needle roller bearing market decreased by -49.4% to $X in 2021. In general, consumption saw a mild descent. As a result, consumption attained the peak level of $X, and then shrank rapidly in the following year.

Needle Roller Bearing Production in Slovakia

In value terms, needle roller bearing production expanded notably to $X in 2021 estimated in export price. Overall, production, however, continues to indicate a noticeable slump. The pace of growth was the most pronounced in 2014 with an increase of 44% against the previous year. As a result, production attained the peak level of $X. From 2015 to 2021, production growth remained at a lower figure.

Needle Roller Bearing Exports

Exports from Slovakia

In 2021, shipments abroad of needle roller bearings was finally on the rise to reach X tons for the first time since 2017, thus ending a three-year declining trend. Overall, exports, however, continue to indicate a mild decrease. The most prominent rate of growth was recorded in 2013 with an increase of 22% against the previous year. Over the period under review, the exports attained the peak figure at X tons in 2017; however, from 2018 to 2021, the exports remained at a lower figure.

In value terms, needle roller bearing exports soared to $X in 2021. In general, exports, however, continue to indicate a noticeable reduction. The growth pace was the most rapid in 2013 when exports increased by 30% against the previous year. The exports peaked at $X in 2014; however, from 2015 to 2021, the exports remained at a lower figure.

Exports by Country

Germany (X tons) was the main destination for needle roller bearing exports from Slovakia, accounting for a 83% share of total exports. Moreover, needle roller bearing exports to Germany exceeded the volume sent to the second major destination, the Czech Republic (X tons), more than tenfold. The third position in this ranking was held by Romania (X tons), with a 2.9% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Germany totaled -2.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Czech Republic (+10.4% per year) and Romania (+180.4% per year).

In value terms, Germany ($X) remains the key foreign market for needle roller bearing exports from Slovakia, comprising 83% of total exports. The second position in the ranking was taken by the Czech Republic ($X), with a 5.6% share of total exports. It was followed by Romania, with a 3.2% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Germany stood at -3.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Czech Republic (+6.3% per year) and Romania (+323.9% per year).

Export Prices by Country

The average needle roller bearing export price stood at $X per ton in 2021, surging by 7.3% against the previous year. In general, the export price, however, saw a mild slump. Over the period under review, the average export prices hit record highs at $X per ton in 2013; however, from 2014 to 2021, the export prices remained at a lower figure.

Average prices varied somewhat for the major external markets. In 2021, the countries with the highest prices were Romania ($X per ton) and Germany ($X per ton), while the average price for exports to the Czech Republic ($X per ton) and Spain ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Germany (-1.3%), while the prices for the other major destinations experienced a decline.

Needle Roller Bearing Imports

Imports into Slovakia

In 2021, supplies from abroad of needle roller bearings increased by 17% to X tons for the first time since 2018, thus ending a two-year declining trend. In general, imports, however, showed a pronounced downturn. The pace of growth appeared the most rapid in 2013 when imports increased by 428% against the previous year. As a result, imports reached the peak of X tons. From 2014 to 2021, the growth of imports remained at a lower figure.

In value terms, needle roller bearing imports skyrocketed to $X in 2021. Overall, imports showed a strong expansion. The pace of growth appeared the most rapid in 2018 when imports increased by 61% against the previous year. As a result, imports attained the peak of $X. From 2019 to 2021, the growth of imports remained at a lower figure.

Imports by Country

In 2021, Germany (X tons) constituted the largest needle roller bearing supplier to Slovakia, accounting for a 46% share of total imports. Moreover, needle roller bearing imports from Germany exceeded the figures recorded by the second-largest supplier, Poland (X tons), twofold. The third position in this ranking was held by China (X tons), with a 12% share.

From 2012 to 2021, the average annual growth rate of volume from Germany stood at -10.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Poland (+64.8% per year) and China (+27.1% per year).

In value terms, Germany ($X) constituted the largest supplier of needle roller bearing to Slovakia, comprising 54% of total imports. The second position in the ranking was held by Poland ($X), with a 15% share of total imports. It was followed by China, with a 7.8% share.

From 2012 to 2021, the average annual growth rate of value from Germany amounted to +4.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Poland (+42.7% per year) and China (+24.0% per year).

Import Prices by Country

In 2021, the average needle roller bearing import price amounted to $X per ton, picking up by 21% against the previous year. Overall, the import price posted a prominent increase. The pace of growth appeared the most rapid in 2014 an increase of 723% against the previous year. The import price peaked in 2021 and is expected to retain growth in the near future.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was Sweden ($X per ton), while the price for China ($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 (+41.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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