Spain: Roller Bearing Market 2024

Roller Bearing Market Size in Spain

In 2022, the Spanish roller bearing market increased by 6% to $X for the first time since 2018, thus ending a three-year declining trend. In general, consumption continues to indicate a abrupt decrease. As a result, consumption reached the peak level of $X. From 2019 to 2022, the growth of the market failed to regain momentum.

Roller Bearing Production in Spain

In value terms, roller bearing production dropped modestly to $X in 2022 estimated in export price. Overall, production, however, showed a deep downturn. The pace of growth was the most pronounced in 2017 with an increase of 17%. Over the period under review, production hit record highs at $X in 2014; however, from 2015 to 2022, production stood at a somewhat lower figure.

Roller Bearing Exports

Exports from Spain

Roller bearing exports from Spain dropped notably to X tons in 2022, waning by -49.9% compared with 2021. Over the period under review, exports, however, posted a buoyant increase. The most prominent rate of growth was recorded in 2018 when exports increased by 117% against the previous year. The Spain exports peaked at X tons in 2019; however, from 2020 to 2022, the exports stood at a somewhat lower figure.

In value terms, roller bearing exports contracted sharply to $X in 2022. Overall, exports, however, showed a pronounced expansion. The most prominent rate of growth was recorded in 2018 with an increase of 93%. The Spain exports peaked at $X in 2021, and then shrank dramatically in the following year.

Exports by Country

China was the largest exporter of roller bearings in the world, with the volume of exports accounting for X tons, which was approx. 43% of total exports in 2022. It was distantly followed by Singapore (X tons), Germany (X tons), France (X tons), Slovakia (X tons) and the United States (X tons), together constituting a 30% share of total exports. The following exporters - Italy (X tons), South Korea (X tons), Indonesia (X tons), Hong Kong SAR (X tons), Turkey (X tons), Austria (X tons) and Romania (X tons) - together made up 14% 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%), Singapore (+1.2%) and Slovakia (+1.1%) 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, the largest roller bearing supplying countries from Spain were China ($X), Singapore ($X) and Germany ($X), together comprising 45% of total exports. Italy, the United States, France, Hong Kong SAR, Slovakia, South Korea, Austria, Turkey, Indonesia and Romania lagged somewhat behind, together comprising a further 31%.

Indonesia, with a CAGR of +16.1%, recorded the highest rates of growth with regard to the value of exports, among 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 Spain amounted to $X per ton, surging by 27% against the previous year. Over the period under review, the export price, however, showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2020 an increase of 36% against the previous year. Over the period under review, the export prices reached the peak figure 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 Spain

In 2022, the amount of roller bearings imported into Spain fell notably to X tons, reducing by -41.1% compared with 2021 figures. In general, total imports indicated perceptible growth from 2012 to 2022: its volume increased at an average annual rate of +4.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2013 when imports increased by 155% against the previous year. As a result, imports attained the peak of X tons. From 2014 to 2022, the growth of imports remained at a lower figure.

In value terms, roller bearing imports rose remarkably to $X in 2022. Over the period under review, imports, however, posted mild growth. The pace of growth appeared the most rapid in 2013 with an increase of 99%. Over the period under review, imports reached the maximum at $X in 2015; however, from 2016 to 2022, imports stood at a somewhat lower figure.

Imports by Country

Thailand (X tons) and Indonesia (X tons) were the key importers of roller bearings in 2022, reaching approx. 17% and 15% of total imports, respectively. It was distantly followed by Germany (X tons), committing a 6.2% share of total imports. The following importers - India (X tons), Italy (X tons), Canada (X tons), Malaysia (X tons), South Korea (X tons), France (X tons), Singapore (X tons), Poland (X tons), Austria (X tons) and Nigeria (X tons) - together made up 24% of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by Thailand (with a CAGR of +18.5%), while imports for the other leaders experienced more modest paces of growth.

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

Indonesia, with a CAGR of +4.2%, saw the highest growth rate of the value of imports, in terms of 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

In 2022, the import price in Spain amounted to $X per ton, rising by 79% against the previous year. Over the period under review, the import price, however, recorded a noticeable curtailment. Over the period under review, import prices attained the maximum at $X per ton in 2017; however, from 2018 to 2022, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2022, 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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