Slovakia: Roller Bearing Market 2024

Roller Bearing Market Size in Slovakia

In 2022, the Slovak roller bearing market increased by 8.3% to $X, rising for the second consecutive year after three years of decline. In general, consumption, however, showed a abrupt decrease. Over the period under review, the market hit record highs at $X in 2012; however, from 2013 to 2022, consumption stood at a somewhat lower figure.

Roller Bearing Production in Slovakia

In value terms, roller bearing production fell to $X in 2022 estimated in export price. In general, production continues to indicate a deep reduction. The pace of growth appeared the most rapid in 2017 with an increase of 20% against the previous year. Slovakia production peaked at $X in 2012; however, from 2013 to 2022, production remained at a lower figure.

Roller Bearing Exports

Exports from Slovakia

In 2022, exports of roller bearings from Slovakia reduced to X tons, waning by -10.6% compared with the previous year. In general, total exports indicated a slight expansion from 2012 to 2022: its volume increased at an average annual rate of +1.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +5.3% against 2020 indices. The most prominent rate of growth was recorded in 2013 when exports increased by 58%. The Slovakia exports peaked at X tons in 2016; however, from 2017 to 2022, the exports stood at a somewhat lower figure.

In value terms, roller bearing exports declined to $X in 2022. Over the period under review, exports saw a slight shrinkage. The growth pace was the most rapid in 2021 when exports increased by 27% against the previous year. Over the period under review, the exports reached the maximum at $X in 2014; however, from 2015 to 2022, the exports remained at a lower figure.

Exports by Country

China represented the key exporter of roller bearings in the world, with the volume of exports finishing at X tons, which was approx. 43% of total exports in 2022. Singapore (X tons) took the second position in the ranking, followed by Germany (X tons), France (X tons), Italy (X tons) and the United States (X tons). All these countries together took near 29% share of total exports. South Korea (X tons), Indonesia (X tons), Hong Kong SAR (X tons), Turkey (X tons), Poland (X tons), Austria (X tons) and Romania (X tons) took a relatively small share of total exports.

From 2012 to 2022, average annual rates of growth with regard to roller bearing exports from China stood at +22.6%. At the same time, Indonesia (+35.7%), Turkey (+8.5%), Poland (+4.3%) and Singapore (+1.2%) displayed positive paces of growth. Moreover, Indonesia emerged as the fastest-growing exporter exported in the world, with a CAGR of +35.7% from 2012-2022. By contrast, Italy (-1.9%), Germany (-2.0%), France (-2.2%), South Korea (-9.7%), Hong Kong SAR (-13.7%), the United States (-18.4%), Austria (-22.3%) and Romania (-22.4%) illustrated a downward trend over the same period. From 2012 to 2022, the share of China and Indonesia increased by +37 and +2.2 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X), Singapore ($X) and Germany ($X) were the countries with the highest levels of exports in 2022, together comprising 45% of total exports. Italy, the United States, France, Hong Kong SAR, South Korea, Poland, Austria, Turkey, Indonesia and Romania lagged somewhat behind, together accounting for a further 30%.

Indonesia, with a CAGR of +16.1%, recorded the highest rates of growth with regard to the value of exports, in terms of the main exporting countries over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the export price in Slovakia amounted to $X per ton, waning by -3.2% against the previous year. In general, the export price recorded a noticeable decline. The pace of growth appeared the most rapid in 2017 an increase of 19% against the previous year. Over the period under review, the export prices attained the maximum at $X per ton in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was the United States ($X per ton), while Indonesia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+16.3%), while the other leaders experienced more modest paces of growth.

Roller Bearing Imports

Imports into Slovakia

In 2022, purchases abroad of roller bearings increased by 31% to X tons, rising for the second consecutive year after three years of decline. Over the period under review, total imports indicated a pronounced expansion from 2012 to 2022: its volume increased at an average annual rate of +2.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +79.6% against 2020 indices. The most prominent rate of growth was recorded in 2021 with an increase of 37% against the previous year. Over the period under review, imports hit record highs in 2022 and are expected to retain growth in years to come.

In value terms, roller bearing imports rose rapidly to $X in 2022. In general, imports, however, showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 when imports increased by 46%. Slovakia imports peaked at $X in 2012; however, from 2013 to 2022, imports remained at a lower figure.

Imports by Country

Thailand (X tons) and Indonesia (X tons) represented roughly 32% of total imports in 2022. It was distantly followed by Germany (X tons), mixing up a 6.2% share of total imports. India (X tons), Italy (X tons), Canada (X tons), Malaysia (X tons), Spain (X tons), South Korea (X tons), France (X tons), Singapore (X tons), Poland (X tons) and Austria (X tons) held a relatively small share of total imports.

From 2012 to 2022, the biggest increases were recorded for Thailand (with a CAGR of +18.5%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest roller bearing importing markets into Slovakia were Indonesia ($X), Germany ($X) and India ($X), with a combined 24% share of total imports.

Indonesia, with a CAGR of +4.2%, recorded the highest growth rate of 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 Slovakia stood at $X per ton in 2022, which is down by -18.9% against the previous year. In general, the import price saw a noticeable curtailment. The pace of growth appeared the most rapid in 2014 an increase of 48% against the previous year. As a result, import price reached the peak level of $X per ton. From 2015 to 2022, the import prices remained at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Canada ($X per ton), while Thailand ($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 (+6.9%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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