United Kingdom: Market for Bearing Housings Incorporating Ball Or Roller Bearings 2024

Market Size for Bearing Housings Incorporating Ball Or Roller Bearings in the UK

In 2022, the UK market for bearing housings incorporating ball or roller bearings increased by 4.2% to $X, rising for the second consecutive year after three years of decline. Over the period under review, consumption, however, faced a deep slump. Bearing housing with ball bearing consumption peaked at $X in 2012; however, from 2013 to 2022, consumption failed to regain momentum.

Production of Bearing Housings Incorporating Ball Or Roller Bearings in the UK

In value terms, bearing housing with ball bearing production declined to $X in 2022 estimated in export price. Overall, production recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2014 with an increase of 24%. As a result, production attained the peak level of $X. From 2015 to 2022, production growth remained at a somewhat lower figure.

Exports of Bearing Housings Incorporating Ball Or Roller Bearings

Exports from the UK

In 2022, overseas shipments of bearing housings incorporating ball or roller bearings were finally on the rise to reach X tons for the first time since 2018, thus ending a three-year declining trend. In general, exports, however, recorded a pronounced downturn. The most prominent rate of growth was recorded in 2015 when exports increased by 42% against the previous year. As a result, the exports attained the peak of X tons. From 2016 to 2022, the growth of the exports remained at a lower figure.

In value terms, bearing housing with ball bearing exports stood at $X in 2022. Overall, exports, however, continue to indicate a noticeable contraction. The growth pace was the most rapid in 2014 with an increase of 23%. The exports peaked at $X in 2015; however, from 2016 to 2022, the exports failed to regain momentum.

Exports by Country

The Netherlands (X tons), Germany (X tons) and Canada (X tons) were the main destinations of bearing housing with ball bearing exports from the UK, with a combined 69% share of total exports. The United States, India, France, China, Italy, Ireland, Spain, Belgium and the Czech Republic lagged somewhat behind, together comprising a further 18%.

From 2012 to 2022, the biggest increases were recorded for China (with a CAGR of +16.6%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the Netherlands ($X), Germany ($X) and the United States ($X) were the largest markets for bearing housing with ball bearing exported from the UK worldwide, with a combined 49% share of total exports.

Among the main countries of destination, the Netherlands, with a CAGR of +15.8%, recorded 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 2022, the average export price for bearing housings incorporating ball or roller bearings amounted to $X per ton, falling by -10.7% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.9%. The pace of growth appeared the most rapid in 2021 when the average export price increased by 33%. As a result, the export price attained the peak level of $X per ton, and then shrank in the following year.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was the United States ($X per ton), while the average price for exports to Germany ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the Czech Republic (+10.2%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Bearing Housings Incorporating Ball Or Roller Bearings

Imports into the UK

In 2022, overseas purchases of bearing housings incorporating ball or roller bearings increased by 56% to X tons, rising for the second consecutive year after two years of decline. Overall, imports saw a resilient expansion. The most prominent rate of growth was recorded in 2021 when imports increased by 84%. Imports peaked in 2022 and are expected to retain growth in the immediate term.

In value terms, bearing housing with ball bearing imports soared to $X in 2022. Over the period under review, total imports indicated a resilient increase from 2012 to 2022: its value increased at an average annual rate of +6.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +91.7% against 2020 indices. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2022, China (X tons) constituted the largest supplier of bearing housing with ball bearing to the UK, accounting for a 58% share of total imports. Moreover, bearing housing with ball bearing imports from China exceeded the figures recorded by the second-largest supplier, Mexico (X tons), fivefold. The third position in this ranking was taken by Italy (X tons), with a 6.7% share.

From 2012 to 2022, the average annual growth rate of volume from China amounted to +11.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Mexico (+188.2% per year) and Italy (+7.4% per year).

In value terms, China ($X), Japan ($X) and Germany ($X) appeared to be the largest bearing housing with ball bearing suppliers to the UK, with a combined 54% share of total imports. The United States, Mexico, Italy, Thailand, Taiwan (Chinese), Romania, the Netherlands and India lagged somewhat behind, together accounting for a further 38%.

Romania, with a CAGR of +230.4%, saw the highest growth rate of the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average import price for bearing housings incorporating ball or roller bearings amounted to $X per ton, with a decrease of -2.3% against the previous year. In general, the import price saw a pronounced setback. The growth pace was the most rapid in 2013 an increase of 15%. The import price peaked at $X per ton in 2020; however, from 2021 to 2022, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Japan ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Japan (+16.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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