Spain: Ball Bearing Parts Market 2024

Ball Bearing Parts Market Size in Spain

In 2021, after two years of decline, there was significant growth in the Spanish ball bearing parts market, when its value increased by 103% to $X. In general, consumption showed a buoyant increase. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Ball Bearing Parts Production in Spain

In value terms, ball bearing parts production soared to $X in 2021 estimated in export price. In general, the total production indicated a resilient increase from 2012 to 2021: its value increased at an average annual rate of +7.6% 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 2013 when the production volume increased by 27%. Ball bearing parts production peaked at $X in 2018; however, from 2019 to 2021, production remained at a lower figure.

Ball Bearing Parts Exports

Exports from Spain

In 2021, exports of parts of ball or roller bearings from Spain soared to X tons, rising by 15% against the previous year. Overall, exports enjoyed a buoyant increase. The most prominent rate of growth was recorded in 2014 with an increase of 82% against the previous year. The exports peaked at X tons in 2019; afterwards, it flattened through to 2021.

In value terms, ball bearing parts exports skyrocketed to $X in 2021. The total export value increased at an average annual rate of +6.1% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2014 when exports increased by 35% against the previous year. Over the period under review, the exports reached the peak figure in 2021 and are expected to retain growth in the near future.

Exports by Country

Italy (X tons) was the main destination for ball bearing parts exports from Spain, with a 44% share of total exports. Moreover, ball bearing parts exports to Italy exceeded the volume sent to the second major destination, Germany (X tons), threefold. Sweden (X tons) ranked third in terms of total exports with a 7.5% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Italy stood at +42.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (-4.7% per year) and Sweden (+79.0% per year).

In value terms, Italy ($X) remains the key foreign market for parts of ball or roller bearings exports from Spain, comprising 30% of total exports. The second position in the ranking was taken by Germany ($X), with a 15% share of total exports. It was followed by Sweden, with a 15% share.

From 2012 to 2021, the average annual growth rate of value to Italy amounted to +28.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (-7.9% per year) and Sweden (+79.5% per year).

Export Prices by Country

In 2021, the average ball bearing parts export price amounted to $X per ton, with an increase of 5.8% against the previous year. Over the period under review, the export price, however, showed a drastic downturn. Over the period under review, the average export prices reached the peak figure at $X per ton in 2012; however, from 2013 to 2021, the export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Sweden ($X per ton), while the average price for exports to the United States ($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 Poland (+0.4%), while the prices for the other major destinations experienced mixed trend patterns.

Ball Bearing Parts Imports

Imports into Spain

In 2021, supplies from abroad of parts of ball or roller bearings was finally on the rise to reach X tons after two years of decline. Overall, total imports indicated a buoyant increase from 2012 to 2021: its volume increased at an average annual rate of +8.5% 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 2013 when imports increased by 76% against the previous year. 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 parts imports surged to $X in 2021. In general, imports showed prominent growth. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

China (X tons), France (X tons) and Germany (X tons) were the main suppliers of ball bearing parts imports to Spain, with a combined 71% share of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by France (with a CAGR of +30.2%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest ball bearing parts suppliers to Spain were Italy ($X), France ($X) and Germany ($X), with a combined 71% share of total imports.

Among the main suppliers, Italy, with a CAGR of +65.8%, recorded the highest rates of growth with regard to the value of imports, 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 parts import price stood at $X per ton in 2021, declining by -11% against the previous year. Over the period under review, import price indicated a perceptible expansion from 2012 to 2021: its price 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. Based on 2021 figures, ball bearing parts import price decreased by -15.7% against 2019 indices. The most prominent rate of growth was recorded in 2019 when the average import price increased by 62% against the previous year. As a result, import price reached the peak level of $X per ton. From 2020 to 2021, the average import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was Italy ($X per ton), while the price for India ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Italy (+36.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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