Sweden: Roller Bearing Market 2024

Roller Bearing Market Size in Sweden

In 2022, the Swedish roller bearing market was finally on the rise to reach $X for the first time since 2018, thus ending a three-year declining trend. Overall, the total consumption indicated a buoyant increase from 2012 to 2022: its value increased at an average annual rate of +9.3% 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 -18.2% against 2018 indices. Over the period under review, the market reached the peak level at $X in 2018; however, from 2019 to 2022, consumption remained at a lower figure.

Roller Bearing Production in Sweden

In value terms, roller bearing production declined slightly to $X in 2022 estimated in export price. In general, the total production indicated a resilient increase from 2012 to 2022: its value increased at an average annual rate of +10.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production increased by +3.3% against 2020 indices. The most prominent rate of growth was recorded in 2013 when the production volume increased by 171%. Sweden production peaked at $X in 2014; however, from 2015 to 2022, production stood at a somewhat lower figure.

Roller Bearing Exports

Exports from Sweden

In 2022, exports of roller bearings from Sweden contracted to X tons, falling by -11.9% compared with 2021 figures. Overall, exports saw a abrupt slump. The most prominent rate of growth was recorded in 2017 with an increase of 29% against the previous year. Over the period under review, the exports reached the maximum at X tons in 2013; however, from 2014 to 2022, the exports stood at a somewhat lower figure.

In value terms, roller bearing exports contracted slightly to $X in 2022. In general, exports recorded a deep setback. The pace of growth was the most pronounced in 2013 when exports increased by 21% against the previous year. As a result, the exports reached the peak of $X. From 2014 to 2022, the growth of the exports remained at a somewhat lower figure.

Exports by Country

In 2022, China (X tons) was the major exporter of roller bearings, committing 43% of total exports. Singapore (X tons) ranks second in terms of the total exports with a 9.7% share, followed by Germany (7.2%), France (6.9%), Slovakia (5.4%) and the United States (0.8%). 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.

Exports from China increased at an average annual rate of +22.6% from 2012 to 2022. 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. While the share of China (+37 p.p.) and Indonesia (+2.2 p.p.) increased significantly in terms of the global exports from 2012-2022, the share of Italy (-1.5 p.p.), Germany (-2.6 p.p.), France (-2.7 p.p.), Romania (-4.9 p.p.), Hong Kong SAR (-6 p.p.), South Korea (-6.3 p.p.), the United States (-6.4 p.p.) and Austria (-7.2 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X), Singapore ($X) and Germany ($X) appeared to be the countries with the highest levels of exports in 2022, 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 accounting for a further 31%.

In terms of the main exporting countries, Indonesia, with a CAGR of +16.1%, 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

The export price in Sweden stood at $X per ton in 2022, rising by 12% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +2.3%. The most prominent rate of growth was recorded in 2019 when the export price increased by 28% against the previous year. The Sweden export price peaked at $X per ton in 2020; however, from 2021 to 2022, the export prices remained at a 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 Sweden

In 2022, overseas purchases of roller bearings were finally on the rise to reach X tons for the first time since 2019, thus ending a two-year declining trend. Overall, imports, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 with an increase of 22% against the previous year. Over the period under review, imports attained the maximum at X tons in 2019; however, from 2020 to 2022, imports remained at a lower figure.

In value terms, roller bearing imports shrank slightly to $X in 2022. Over the period under review, imports, however, showed a perceptible decrease. The growth pace was the most rapid in 2016 with an increase of 21%. Sweden imports peaked at $X in 2018; however, from 2019 to 2022, imports stood at a somewhat lower figure.

Imports by Country

Thailand (X tons) and Indonesia (X tons) were the main importers of roller bearings in 2022, resulting at approx. 17% and 15% of total imports, respectively. It was distantly followed by Germany (X tons), constituting a 6.2% share of total imports. India (X tons), Italy (X tons), Canada (X tons), Malaysia (X tons), Spain (X tons), South Korea (X tons), France (X tons), Singapore (X tons), Poland (X tons) and Austria (X tons) held a relatively small share of total imports.

From 2012 to 2022, the biggest increases were recorded for Thailand (with a CAGR of +18.5%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Indonesia ($X), Germany ($X) and India ($X) constituted the countries with the highest levels of imports in 2022, together accounting for 24% of total imports.

Among the main importing countries, Indonesia, with a CAGR of +4.2%, saw 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

In 2022, the import price in Sweden amounted to $X per ton, reducing by -4.6% against the previous year. Overall, the import price showed a pronounced reduction. The growth pace was the most rapid in 2021 when the import price increased by 11% against the previous year. Sweden import price peaked 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 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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