Sweden: Spherical Roller Bearing Market 2024

Spherical Roller Bearing Market Size in Sweden

In 2021, the Swedish spherical roller bearing market decreased by -23.3% to $X, falling for the second year in a row after two years of growth. Overall, consumption showed a slight shrinkage. As a result, consumption attained the peak level of $X. From 2015 to 2021, the growth of the market remained at a lower figure.

Spherical Roller Bearing Production in Sweden

In value terms, spherical roller bearing production declined modestly to $X in 2021 estimated in export price. Overall, production, however, recorded a deep slump. The most prominent rate of growth was recorded in 2018 when the production volume increased by 17%. Spherical roller bearing production peaked at $X in 2012; however, from 2013 to 2021, production remained at a lower figure.

Spherical Roller Bearing Exports

Exports from Sweden

In 2021, shipments abroad of spherical roller bearings increased by 5.4% to X tons, rising for the fourth year in a row after five years of decline. In general, exports, however, recorded a pronounced contraction. The growth pace was the most rapid in 2020 with an increase of 10% against the previous year. Over the period under review, the exports hit record highs at X tons in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

In value terms, spherical roller bearing exports skyrocketed to $X in 2021. Overall, exports, however, saw a pronounced shrinkage. The most prominent rate of growth was recorded in 2018 when exports increased by 17% against the previous year. Over the period under review, the exports reached the peak figure at $X in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

Exports by Country

Belgium (X tons) was the main destination for spherical roller bearing exports from Sweden, with a 30% share of total exports. Moreover, spherical roller bearing exports to Belgium exceeded the volume sent to the second major destination, China (X tons), twofold. The third position in this ranking was taken by Germany (X tons), with a 7.3% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Belgium was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: China (-2.6% per year) and Germany (-5.3% per year).

In value terms, Belgium ($X), China ($X) and the United States ($X) appeared to be the largest markets for spherical roller bearing exported from Sweden worldwide, together comprising 47% of total exports. Germany, India, Finland, Brazil, Italy, the Netherlands, Singapore, Denmark, Russia and Spain lagged somewhat behind, together comprising a further 32%.

India, with a CAGR of +19.9%, saw the highest growth rate of the value of exports, in terms of the main countries of destination 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 spherical roller bearing export price amounted to $X per ton, picking up by 9.3% against the previous year. Over the period under review, the export price, however, recorded a slight decrease. Over the period under review, the average export prices attained the maximum at $X per ton in 2013; however, from 2014 to 2021, the export prices remained at a lower figure.

Prices varied noticeably country of destination: the country with the highest price was the United States ($X per ton), while the average price for exports to Denmark ($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 the United States (+4.8%), while the prices for the other major destinations experienced more modest paces of growth.

Spherical Roller Bearing Imports

Imports into Sweden

In 2021, overseas purchases of spherical roller bearings were finally on the rise to reach X tons after three years of decline. In general, imports, however, recorded a deep slump. The pace of growth was the most pronounced in 2015 when imports increased by 66%. Over the period under review, imports hit record highs at X tons in 2012; however, from 2013 to 2021, imports failed to regain momentum.

In value terms, spherical roller bearing imports rose remarkably to $X in 2021. Overall, imports, however, recorded a drastic downturn. The pace of growth appeared the most rapid in 2017 with an increase of 29%. Over the period under review, imports hit record highs at $X in 2012; however, from 2013 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, Belgium (X tons) constituted the largest supplier of spherical roller bearing to Sweden, with a 51% share of total imports. Moreover, spherical roller bearing imports from Belgium exceeded the figures recorded by the second-largest supplier, France (X tons), threefold. The third position in this ranking was taken by Germany (X tons), with a 15% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Belgium was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: France (+15.6% per year) and Germany (+7.6% per year).

In value terms, Belgium ($X) constituted the largest supplier of spherical roller bearings to Sweden, comprising 52% of total imports. The second position in the ranking was held by Germany ($X), with a 19% share of total imports. It was followed by France, with a 14% share.

From 2012 to 2021, the average annual growth rate of value from Belgium totaled -2.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+11.1% per year) and France (+14.4% per year).

Import Prices by Country

In 2021, the average spherical roller bearing import price amounted to $X per ton, surging by 7.5% against the previous year. Over the last nine years, it increased at an average annual rate of +1.5%. The pace of growth appeared the most rapid in 2013 when the average import price increased by 32%. Over the period under review, average import prices attained the peak figure at $X per ton in 2014; however, from 2015 to 2021, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was the United States ($X per ton), while the price for Brazil ($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 United States (+18.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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