Norway: Bearing Market 2024

Bearing Market Size in Norway

The Norwegian bearing market fell modestly to $X in 2022, declining by X% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). In general, consumption continues to indicate a noticeable contraction. Bearing consumption peaked at $X in 2014; however, from 2015 to 2022, consumption stood at a somewhat lower figure.

Bearing Exports

Exports from Norway

In 2022, the amount of ball or roller bearings exported from Norway stood at X tons, rising by X% compared with 2021 figures. Over the period under review, exports, however, showed a perceptible shrinkage. The pace of growth appeared the most rapid in 2014 with an increase of X%. As a result, the exports attained the peak of X tons. From 2015 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, bearing exports expanded sharply to $X in 2022. Overall, exports, however, continue to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2014 with an increase of X% against the previous year. As a result, the exports reached the peak of $X. From 2015 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

Poland (X tons), the Netherlands (X tons) and Denmark (X tons) were the main destinations of bearing exports from Norway, together accounting for X% of total exports. China, the UK, Brazil, Germany, the United States, Sweden, Singapore, Canada, France and Finland lagged somewhat behind, together accounting for a further X%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Finland (with a CAGR of X%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for bearing exported from Norway were Poland ($X), the Netherlands ($X) and Brazil ($X), with a combined X% share of total exports. The United States, China, Germany, the UK, Denmark, Singapore, Canada, Sweden, France and Finland lagged somewhat behind, together accounting for a further X%.

Finland, with a CAGR of X%, recorded 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 bearing export price stood at $X per ton in 2022, picking up by X% against the previous year. Over the last decade, it increased at an average annual rate of X%. The most prominent rate of growth was recorded in 2013 an increase of X%. The export price peaked in 2022 and is likely to see steady growth in the immediate term.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was the United States ($X per ton), while the average price for exports to Finland ($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 Finland (X%), while the prices for the other major destinations experienced more modest paces of growth.

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Bearing Imports

Imports into Norway

In 2022, supplies from abroad of ball or roller bearings decreased by X% to X tons, falling for the third consecutive year after three years of growth. Overall, imports continue to indicate a deep setback. The growth pace was the most rapid in 2018 when imports increased by X% against the previous year. Imports peaked at X tons in 2014; however, from 2015 to 2022, imports failed to regain momentum.

In value terms, bearing imports shrank slightly to $X in 2022. Over the period under review, imports continue to indicate a noticeable shrinkage. The most prominent rate of growth was recorded in 2018 when imports increased by X%. Imports peaked at $X in 2014; however, from 2015 to 2022, imports stood at a somewhat lower figure.

Imports by Country

Germany (X tons), China (X tons) and Sweden (X tons) were the main suppliers of bearing imports to Norway, with a combined X% share of total imports. Italy, France, Romania, Japan, Latvia, the UK, the United States, Austria and Slovakia lagged somewhat behind, together comprising a further X%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Latvia (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

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

From 2012 to 2022, the average annual growth rate of value from Germany stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: France (X% per year) and Sweden (X% per year).

Import Prices by Country

The average bearing import price stood at $X per ton in 2022, flattening at the previous year. Over the last decade, it increased at an average annual rate of X%. The most prominent rate of growth was recorded in 2021 an increase of X%. As a result, import price reached the peak level of $X per ton, and then dropped slightly in the following year.

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 the United States ($X per ton), while the price for China ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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