Spain: Ball Bearing Market 2024

Ball Bearing Market Size in Spain

The Spanish ball bearing market was finally on the rise to reach $X in 2021, after two years of decline. In general, consumption recorded a relatively flat trend pattern. Ball bearing consumption peaked at $X in 2018; however, from 2019 to 2021, consumption remained at a lower figure.

Ball Bearing Production in Spain

In value terms, ball bearing production stood at $X in 2021 estimated in export price. In general, the total production indicated a remarkable increase from 2012 to 2021: its value increased at an average annual rate of +5.1% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2017 with an increase of 19% against the previous year. Over the period under review, production hit record highs in 2021 and is likely to see gradual growth in the near future.

Ball Bearing Exports

Exports from Spain

In 2021, after three years of growth, there was significant decline in shipments abroad of ball bearings, when their volume decreased by -9.6% to X tons. Over the period under review, total exports indicated a prominent increase from 2012 to 2021: its volume increased at an average annual rate of +5.7% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2016 when exports increased by 42%. The exports peaked at X tons in 2020, and then reduced in the following year.

In value terms, ball bearing exports stood at $X in 2021. Overall, exports showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 when exports increased by 18%. Over the period under review, the exports reached the peak figure at $X in 2018; however, from 2019 to 2021, the exports remained at a lower figure.

Exports by Country

France (X tons), Germany (X tons) and Denmark (X tons) were the main destinations of ball bearing exports from Spain, with a combined 61% share of total exports. These countries were followed by Morocco, the Czech Republic, the United States, Portugal and Mexico, which together accounted for a further 29%.

From 2012 to 2021, the biggest increases were recorded for the Czech Republic (with a CAGR of +77.3%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, France ($X), Germany ($X) and Denmark ($X) were the largest markets for ball bearing exported from Spain worldwide, with a combined 56% share of total exports. These countries were followed by Portugal, Morocco, the Czech Republic, Mexico and the United States, which together accounted for a further 25%.

Among the main countries of destination, Mexico, with a CAGR of +52.1%, recorded the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average ball bearing export price stood at $X per ton in 2021, picking up by 13% against the previous year. Overall, the export price, however, showed a abrupt descent. The most prominent rate of growth was recorded in 2017 an increase of 24% against the previous year. Over the period under review, the average export prices hit record highs at $X per ton in 2012; however, from 2013 to 2021, the export prices stood at a somewhat lower figure.

Prices varied noticeably country of destination: the country with the highest price was Portugal ($X per ton), while the average price for exports to Denmark ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to France (-4.5%), while the prices for the other major destinations experienced a decline.

Ball Bearing Imports

Imports into Spain

In 2021, purchases abroad of ball bearings was finally on the rise to reach X tons after two years of decline. Over the period under review, total imports indicated a noticeable increase from 2012 to 2021: its volume increased at an average annual rate of +2.2% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2017 with an increase of 49%. Over the period under review, imports hit record highs at X tons in 2018; however, from 2019 to 2021, imports remained at a lower figure.

In value terms, ball bearing imports surged to $X in 2021. The total import value increased at an average annual rate of +1.7% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, imports reached the peak figure at $X in 2014; however, from 2015 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, China (X tons) constituted the largest supplier of ball bearing to Spain, with a 33% share of total imports. Moreover, ball bearing imports from China exceeded the figures recorded by the second-largest supplier, Germany (X tons), twofold. The third position in this ranking was taken by Italy (X tons), with a 12% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from China amounted to +10.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (-3.6% per year) and Italy (+0.1% per year).

In value terms, Germany ($X), China ($X) and Italy ($X) appeared to be the largest ball bearing suppliers to Spain, with a combined 58% share of total imports. The Netherlands, France, Poland, India, Japan and the UK lagged somewhat behind, together comprising a further 31%.

India, with a CAGR of +62.5%, recorded the highest growth rate of the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average ball bearing import price stood at $X per ton in 2021, dropping by -9.8% against the previous year. Over the period under review, the import price saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2019 an increase of 35% against the previous year. The import price peaked at $X per ton in 2013; however, from 2014 to 2021, import prices failed to regain momentum.

Prices varied noticeably country of origin: the country with the highest price was the UK ($X per ton), while the price for India ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Germany (+8.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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