Spain: Tools For Bearing Market 2024

Tools For Bearing Market Size in Spain

In 2022, the Spanish tools for bearing market decreased by -5.4% to $X, falling for the third year in a row after two years of growth. Overall, the total consumption indicated moderate growth from 2012 to 2022: its value increased at an average annual rate of +3.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by -15.5% against 2019 indices. As a result, consumption reached the peak level of $X. From 2015 to 2022, the growth of the market remained at a lower figure.

Tools For Bearing Production in Spain

In value terms, tools for bearing production contracted to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +1.0% from 2012 to 2022; the trend pattern remained consistent, with only minor fluctuations being observed throughout the analyzed period. The most prominent rate of growth was recorded in 2021 with an increase of 18% against the previous year. Over the period under review, production attained the maximum level at $X in 2018; however, from 2019 to 2022, production failed to regain momentum.

Tools For Bearing Exports

Exports from Spain

Tools for bearing exports from Spain contracted to X tons in 2022, dropping by -2.7% on the previous year's figure. The total export volume increased at an average annual rate of +2.0% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2021 with an increase of 19%. The exports peaked at X tons in 2017; however, from 2018 to 2022, the exports remained at a lower figure.

In value terms, tools for bearing exports dropped to $X in 2022. Overall, exports recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2013 with an increase of 16%. Over the period under review, the exports hit record highs at $X in 2018; however, from 2019 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Germany (X tons) was the main destination for tools for bearing exports from Spain, with a 68% share of total exports. Moreover, tools for bearing exports to Germany exceeded the volume sent to the second major destination, Slovakia (X tons), twofold.

From 2012 to 2022, the average annual growth rate of volume to Germany totaled -1.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Slovakia (+333.9% per year) and Romania (-5.0% per year).

In value terms, Germany ($X) remains the key foreign market for balls, needles and rollers for ball or roller bearings exports from Spain, comprising 66% of total exports. The second position in the ranking was taken by Slovakia ($X), with a 26% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value to Germany amounted to -3.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Slovakia (+356.6% per year) and Romania (-6.3% per year).

Export Prices by Country

In 2022, the average tools for bearing export price amounted to $X per ton, waning by -10.1% against the previous year. In general, the export price recorded a mild reduction. The pace of growth was the most pronounced in 2020 an increase of 21% 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.

Average prices varied noticeably for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Romania ($X per ton), while the average price for exports to Slovakia ($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 Slovakia (+5.2%), while the prices for the other major destinations experienced a decline.

Tools For Bearing Imports

Imports into Spain

In 2022, overseas purchases of balls, needles and rollers for ball or roller bearings decreased by -13.7% to X tons for the first time since 2019, thus ending a two-year rising trend. In general, imports, however, enjoyed a strong expansion. The most prominent rate of growth was recorded in 2013 when imports increased by 88%. Over the period under review, imports attained the peak figure at X tons in 2021, and then dropped in the following year.

In value terms, tools for bearing imports fell modestly to $X in 2022. Over the period under review, total imports indicated a buoyant expansion from 2012 to 2022: its value increased at an average annual rate of +6.8% 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 +6.2% against 2020 indices. The growth pace was the most rapid in 2013 with an increase of 69%. Imports peaked at $X in 2014; however, from 2015 to 2022, imports failed to regain momentum.

Imports by Country

China (X tons), the Netherlands (X tons) and Poland (X tons) were the main suppliers of tools for bearing imports to Spain, with a combined 66% share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by the Netherlands (with a CAGR of +108.3%), while imports for the other leaders experienced more modest paces of growth.

In value terms, China ($X), the Netherlands ($X) and Italy ($X) were the largest tools for bearing suppliers to Spain, with a combined 60% share of total imports.

The Netherlands, with a CAGR of +97.2%, saw the highest growth rate of the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average tools for bearing import price amounted to $X per ton, rising by 13% against the previous year. In general, the import price, however, showed a perceptible decline. The pace of growth appeared the most rapid in 2019 when the average import price increased by 14% against the previous year. Over the period under review, average import prices reached the maximum at $X per ton in 2012; however, from 2013 to 2022, import prices stood at a somewhat lower figure.

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 France ($X per ton), while the price for Poland ($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 (+8.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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