Scandinavia: Bearing Market 2024

Bearing Market Size in Scandinavia

The Scandinavia bearing market fell modestly to $X in 2022, waning by X% against the previous year. In general, consumption showed a noticeable downturn. The level of consumption peaked at $X in 2014; however, from 2015 to 2022, consumption remained at a lower figure.

Bearing Production in Scandinavia

In value terms, bearing production reduced remarkably to $X in 2022 estimated in export price. Overall, production recorded a sharp shrinkage. The most prominent rate of growth was recorded in 2018 with an increase of X% against the previous year. Over the period under review, production attained the maximum level at $X in 2013; however, from 2014 to 2022, production stood at a somewhat lower figure.

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Bearing Exports

Exports in Scandinavia

In 2022, after four years of growth, there was decline in overseas shipments of ball or roller bearings, when their volume decreased by X% to X tons. In general, exports recorded a perceptible slump. The most prominent rate of growth was recorded in 2018 when exports increased by X%. Over the period under review, the exports attained the peak figure at X tons in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

In value terms, bearing exports fell slightly to $X in 2022. Overall, exports recorded a perceptible shrinkage. The most prominent rate of growth was recorded in 2018 with an increase of X%. The level of export peaked at $X in 2013; however, from 2014 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Sweden dominates exports structure, finishing at X tons, which was near X% of total exports in 2022. Finland (X tons) held a relatively small share of total exports.

From 2012 to 2022, average annual rates of growth with regard to bearing exports from Sweden stood at X%. Finland experienced a relatively flat trend pattern. The shares of the largest exporters remained relatively stable throughout the analyzed period.

In value terms, Sweden ($X) remains the largest bearing supplier in Scandinavia, comprising X% of total exports. The second position in the ranking was taken by Finland ($X), with a X% share of total exports.

In Sweden, bearing exports contracted by an average annual rate of X% over the period from 2012-2022.

Export Prices by Country

In 2022, the export price in Scandinavia amounted to $X per ton, stabilizing at the previous year. Overall, the export price recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when the export price increased by X% against the previous year. The level of export peaked at $X per ton in 2013; however, from 2014 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Finland ($X per ton), while Sweden totaled $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Sweden (X%).

Bearing Imports

Imports in Scandinavia

In 2022, bearing imports in Scandinavia shrank to X tons, declining by X% on the year before. The total import volume increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2018 with an increase of X% against the previous year. Over the period under review, imports hit record highs at X tons in 2021, and then reduced in the following year.

In value terms, bearing imports declined to $X in 2022. Over the period under review, imports continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 when imports increased by X% against the previous year. The level of import peaked at $X in 2014; however, from 2015 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, Sweden (X tons) represented the largest importer of ball or roller bearings, comprising X% of total imports. It was distantly followed by Finland (X tons), achieving a X% share of total imports. Norway (X tons) followed a long way behind the leaders.

Sweden was also the fastest-growing in terms of the ball or roller bearings imports, with a CAGR of X% from 2012 to 2022. At the same time, Finland (X%) displayed positive paces of growth. By contrast, Norway (X%) illustrated a downward trend over the same period. While the share of Sweden (X p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Norway (X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Sweden ($X) constitutes the largest market for imported ball or roller bearings in Scandinavia, comprising X% of total imports. The second position in the ranking was held by Finland ($X), with a X% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of value in Sweden was relatively modest. In the other countries, the average annual rates were as follows: Finland (X% per year) and Norway (X% per year).

Import Prices by Country

In 2022, the import price in Scandinavia amounted to $X per ton, rising by X% against the previous year. In general, the import price, however, recorded a pronounced reduction. Over the period under review, import prices attained the maximum at $X per ton in 2014; however, from 2015 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 Norway ($X per ton), while Sweden ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Norway (X%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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