Sweden: Needle Roller Bearing Market 2024

Needle Roller Bearing Market Size in Sweden

In 2021, the Swedish needle roller bearing market was finally on the rise to reach $X after two years of decline. Over the period under review, the total consumption indicated a prominent increase from 2012 to 2021: its value increased at an average annual rate of +8.1% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Needle Roller Bearing Exports

Exports from Sweden

In 2021, approx. X tons of needle roller bearings were exported from Sweden; with a decrease of -11.7% against 2020. Overall, exports, however, recorded a temperate increase. The most prominent rate of growth was recorded in 2013 when exports increased by 76%. Over the period under review, the exports reached the peak figure at X tons in 2016; however, from 2017 to 2021, the exports remained at a lower figure.

In value terms, needle roller bearing exports totaled $X in 2021. Over the period under review, total exports indicated prominent growth from 2012 to 2021: its value increased at an average annual rate of +8.3% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports decreased by -21.1% against 2018 indices. The most prominent rate of growth was recorded in 2013 when exports increased by 66%. Over the period under review, the exports hit record highs at $X in 2018; however, from 2019 to 2021, the exports failed to regain momentum.

Exports by Country

Belgium (X tons), Denmark (X tons) and the United States (X tons) were the main destinations of needle roller bearing exports from Sweden, together accounting for 45% of total exports. Norway, China, Germany, Malaysia, Luxembourg, Hungary, India, Finland and the United Arab Emirates lagged somewhat behind, together accounting for a further 37%.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Malaysia (with a CAGR of +66.1%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for needle roller bearing exported from Sweden were Germany ($X), the United States ($X) and Denmark ($X), together accounting for 29% of total exports. Belgium, China, Norway, Malaysia, Finland, Hungary, India, Luxembourg and the United Arab Emirates lagged somewhat behind, together comprising a further 31%.

Among the main countries of destination, Malaysia, with a CAGR of +71.2%, saw 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

In 2021, the average needle roller bearing export price amounted to $X per ton, picking up by 18% against the previous year. Over the period under review, the export price saw a remarkable increase. The most prominent rate of growth was recorded in 2018 an increase of 60%. Over the period under review, the average export prices reached the peak figure in 2021 and is expected to retain growth in the near future.

There were significant differences in the average prices for the major foreign markets. In 2021, the country with the highest price was Finland ($X per ton), while the average price for exports to Luxembourg ($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 Finland (+11.4%), while the prices for the other major destinations experienced more modest paces of growth.

Needle Roller Bearing Imports

Imports into Sweden

In 2021, imports of needle roller bearings into Sweden surged to X tons, growing by 49% against the previous year. In general, imports posted resilient growth. The pace of growth was the most pronounced in 2018 when imports increased by 58% against the previous year. Over the period under review, imports reached the peak figure at X tons in 2019; however, from 2020 to 2021, imports failed to regain momentum.

In value terms, needle roller bearing imports surged to $X in 2021. Over the period under review, total imports indicated resilient growth from 2012 to 2021: its value increased at an average annual rate of +7.0% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, Germany (X tons) constituted the largest supplier of needle roller bearing to Sweden, with a 54% share of total imports. Moreover, needle roller bearing imports from Germany exceeded the figures recorded by the second-largest supplier, the Netherlands (X tons), twofold. The third position in this ranking was taken by China (X tons), with a 17% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Germany stood at +4.9%. The remaining supplying countries recorded the following average annual rates of imports growth: the Netherlands (+70.6% per year) and China (+39.1% per year).

In value terms, Germany ($X) constituted the largest supplier of needle roller bearing to Sweden, comprising 58% of total imports. The second position in the ranking was held by China ($X), with a 16% share of total imports. It was followed by the Netherlands, with a 10% share.

From 2012 to 2021, the average annual rate of growth in terms of value from Germany amounted to +3.5%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+38.6% per year) and the Netherlands (+35.6% per year).

Import Prices by Country

In 2021, the average needle roller bearing import price amounted to $X per ton, picking up by 14% against the previous year. In general, the import price, however, showed a perceptible reduction. The pace of growth was the most pronounced in 2020 when the average import price increased by 32%. Over the period under review, average import prices reached the maximum at $X per ton in 2013; however, from 2014 to 2021, import prices stood at a somewhat lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the UK (+12.5%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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