Ukraine: Needle Roller Bearing Market 2024

Needle Roller Bearing Market Size in Ukraine

The Ukrainian needle roller bearing market contracted to $X in 2021, with a decrease of -11.6% against the previous year. In general, consumption continues to indicate a pronounced contraction. Over the period under review, the market reached the peak level at $X in 2012; however, from 2013 to 2021, consumption remained at a lower figure.

Needle Roller Bearing Production in Ukraine

In value terms, needle roller bearing production contracted to $X in 2021 estimated in export price. Overall, production recorded a perceptible slump. The most prominent rate of growth was recorded in 2020 when the production volume increased by 26%. Over the period under review, production hit record highs at $X in 2013; however, from 2014 to 2021, production failed to regain momentum.

Needle Roller Bearing Exports

Exports from Ukraine

In 2021, the amount of needle roller bearings exported from Ukraine surged to X tons, rising by 296% against the previous year's figure. Over the period under review, exports, however, saw a mild contraction. The exports peaked at X tons in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

In value terms, needle roller bearing exports soared to $X in 2021. Overall, exports, however, showed a deep setback. Over the period under review, the exports attained the peak figure at $X in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Romania (X tons) was the main destination for needle roller bearing exports from Ukraine, with a 44% share of total exports. Moreover, needle roller bearing exports to Romania exceeded the volume sent to the second major destination, Poland (X kg), threefold. The third position in this ranking was taken by Denmark (X kg), with a 13% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Romania stood at +154.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Poland (+64.7% per year) and Denmark (-6.1% per year).

In value terms, Romania ($X), Denmark ($X) and Poland ($X) constituted the largest markets for needle roller bearing exported from Ukraine worldwide, together comprising 67% of total exports.

Romania, with a CAGR of +82.9%, 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

The average needle roller bearing export price stood at $X per ton in 2021, which is down by -57.3% against the previous year. Overall, the export price showed a perceptible downturn. The most prominent rate of growth was recorded in 2018 an increase of 205%. Over the period under review, the average export prices hit record highs at $X per ton in 2015; however, from 2016 to 2021, the export prices failed to regain momentum.

There were significant differences in the average prices for the major export markets. In 2021, the country with the highest price was Denmark ($X per ton), while the average price for exports to Bulgaria ($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 China (+19.6%), while the prices for the other major destinations experienced more modest paces of growth.

Needle Roller Bearing Imports

Imports into Ukraine

In 2021, purchases abroad of needle roller bearings decreased by -12.6% to X tons, falling for the second consecutive year after four years of growth. Over the period under review, imports showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2018 with an increase of 26%. Over the period under review, imports attained the maximum at X tons in 2019; however, from 2020 to 2021, imports remained at a lower figure.

In value terms, needle roller bearing imports rose rapidly to $X in 2021. In general, total imports indicated pronounced growth from 2012 to 2021: its value increased at an average annual rate of +2.1% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +62.1% against 2015 indices. The most prominent rate of growth was recorded in 2013 with an increase of 33% against the previous year. As a result, imports reached the peak of $X. From 2014 to 2021, the growth of imports remained at a somewhat lower figure.

Imports by Country

In 2021, China (X tons) constituted the largest needle roller bearing supplier to Ukraine, with a 46% share of total imports. Moreover, needle roller bearing imports from China exceeded the figures recorded by the second-largest supplier, Russia (X tons), twofold. The third position in this ranking was held by Germany (X tons), with a 6.8% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from China totaled +1.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Russia (-7.5% per year) and Germany (+14.8% per year).

In value terms, Germany ($X), China ($X) and Japan ($X) constituted the largest needle roller bearing suppliers to Ukraine, with a combined 48% share of total imports. These countries were followed by the United States, Russia, Slovakia, Turkey, South Korea, Poland and Belarus, which together accounted for a further 33%.

Among the main suppliers, Turkey, with a CAGR of +30.4%, 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

The average needle roller bearing import price stood at $X per ton in 2021, growing by 29% against the previous year. In general, the import price saw moderate growth. The most prominent rate of growth was recorded in 2013 when the average import price increased by 94% against the previous year. As a result, import price reached the peak level of $X per ton. From 2014 to 2021, the average import prices remained at a somewhat lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+2.8%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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