Latvia - Ball and Roller Bearings - Market Analysis, Forecast, Size, Trends And Insights
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View PricingBearing Price in Latvia - 2023
Contents:
- Bearing Price in Latvia (FOB) - 2022
- Bearing Price in Latvia (CIF) - 2023
- Bearing Exports in Latvia
- Bearing Imports in Latvia
Bearing Price in Latvia (FOB) - 2022
The average bearing export price stood at $5,960 per ton in 2022, with an increase of 45% against the previous year. In general, the export price saw a resilient expansion. As a result, the export price attained the peak level and is likely to continue 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 Estonia ($13,693 per ton), while the average price for exports to Sweden ($1,301 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 Malaysia (+14.5%), while the prices for the other major destinations experienced more modest paces of growth.
Bearing Price in Latvia (CIF) - 2023
The average bearing import price stood at $9,815 per ton in November 2023, with a decrease of -1.7% against the previous month. Over the period under review, the import price, however, recorded a moderate increase. The growth pace was the most rapid in April 2023 an increase of 158% m-o-m. As a result, import price reached the peak level of $22,857 per ton. From May 2023 to November 2023, the average import prices remained at a somewhat lower figure.
There were significant differences in the average prices amongst the major supplying countries. In November 2023, the country with the highest price was the Netherlands ($35,128 per ton), while the price for China ($2,421 per ton) was amongst the lowest.
From November 2022 to November 2023, the most notable rate of growth in terms of prices was attained by the Netherlands (+7.3%), while the prices for the other major suppliers experienced more modest paces of growth.
Bearing Exports in Latvia
After three years of growth, shipments abroad of ball and roller bearings decreased by -5.3% to 6.6K tons in 2022. The total export volume increased at an average annual rate of +6.9% over the period from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2021 when exports increased by 26%. As a result, the exports attained the peak of 7K tons, and then fell in the following year.
In value terms, bearing exports surged to $39M in 2022. In general, exports, however, posted significant growth. The growth pace was the most rapid in 2021 with an increase of 81% against the previous year. The exports peaked in 2022 and are likely to see steady growth in the near future.
| Export of Bearing in Latvia (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Poland | 0.7 | 1.0 | 1.8 | 12.8 | 163.5% |
| Russia | 10.6 | 6.7 | 19.8 | 8.4 | -7.5% |
| Turkey | 0.2 | 0.3 | 0.2 | 2.3 | 125.7% |
| Malaysia | 2.6 | 1.0 | N/A | 1.6 | -14.9% |
| Lithuania | 1.0 | 0.9 | 1.1 | 1.0 | 0.0% |
| Sweden | 1.6 | 2.9 | 1.0 | 1.0 | -14.5% |
| Belarus | N/A | 0.4 | 1.9 | 0.7 | 32.3% |
| Others | 2.5 | 2.6 | 2.8 | 11.5 | 66.3% |
| Total | 19.2 | 15.7 | 28.5 | 39.3 | 27.0% |
Top Export Markets for Bearing from Latvia in 2022:
- Poland (2303.3 tons)
- Russia (1757.6 tons)
- Sweden (801.1 tons)
- Turkey (349.0 tons)
- Malaysia (314.7 tons)
- Lithuania (147.2 tons)
- Belarus (141.9 tons)
Bearing Imports in Latvia
After three years of growth, supplies from abroad of ball and roller bearings decreased by -49.9% to 3.4K tons in 2022. Over the period under review, imports, however, saw a significant expansion. The most prominent rate of growth was recorded in 2021 when imports increased by 160%. As a result, imports attained the peak of 6.7K tons, and then declined rapidly in the following year.
In value terms, bearing imports fell to $22M in 2022. Overall, total imports indicated a resilient expansion from 2019 to 2022: its value increased at an average annual rate of +16.3% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +57.3% against 2019 indices. The growth pace was the most rapid in 2021 when imports increased by 48%. As a result, imports reached the peak of $24M, and then reduced in the following year.
| Import of Bearing in Latvia (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Poland | 2.3 | 2.4 | 3.9 | 4.5 | 25.1% |
| China | 0.7 | 2.6 | 6.9 | 4.4 | 84.6% |
| Sweden | 2.5 | 2.4 | 3.6 | 3.5 | 11.9% |
| Germany | 2.6 | 2.1 | 2.2 | 2.8 | 2.5% |
| Lithuania | 1.5 | 1.2 | 1.7 | 1.8 | 6.3% |
| Others | 4.7 | 5.3 | 5.6 | 5.2 | 3.4% |
| Total | 14.1 | 16.1 | 23.9 | 22.2 | 16.3% |
Top Suppliers of Bearing to Latvia in 2022:
- China (2097.7 tons)
- Poland (550.3 tons)
- Sweden (178.3 tons)
- Germany (135.4 tons)
- Lithuania (105.8 tons)
This report provides an in-depth analysis of the bearing market in Latvia. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.
Product coverage:
- Prodcom 28151030 - Ball bearings
- Prodcom 28151053 - Tapered roller bearings (including cone and tapered roller assemblies)
- Prodcom 28151055 - Spherical roller bearings
- Prodcom 28151057 - Cylindrical roller bearings (excluding roller bearings, needle roller bearings)
- Prodcom 28151070 - Needle roller bearings
- Prodcom 28151090 - Roller bearings (including combined ball/roller bearings) (excluding tapered roller bearings, spherical roller bearings, n eedle roller bearings)
Country coverage:
- Latvia
Data coverage:
- Market volume and value
- Per Capita consumption
- Forecast of the market dynamics in the medium term
- Trade (exports and imports) in Latvia
- Export and import prices
- Market trends, drivers and restraints
- Key market players and their profiles
Reasons to buy this report:
- Take advantage of the latest data
- Find deeper insights into current market developments
- Discover vital success factors affecting the market
This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.
In this report, you can find information that helps you to make informed decisions on the following issues:
- How to diversify your business and benefit from new market opportunities
- How to load your idle production capacity
- How to boost your sales on overseas markets
- How to increase your profit margins
- How to make your supply chain more sustainable
- How to reduce your production and supply chain costs
- How to outsource production to other countries
- How to prepare your business for global expansion
While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.
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1. INTRODUCTION
Making Data-Driven Decisions to Grow Your Business
- REPORT DESCRIPTION
- RESEARCH METHODOLOGY AND AI PLATFORM
- DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
- GLOSSARY AND SPECIFIC TERMS
-
2. EXECUTIVE SUMMARY
A Quick Overview of Market Performance
- KEY FINDINGS
- MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
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3. MARKET OVERVIEW
Understanding the Current State of The Market and Its Prospects
- MARKET SIZE
- MARKET STRUCTURE
- TRADE BALANCE
- PER CAPITA CONSUMPTION
- MARKET FORECAST TO 2030
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4. MOST PROMISING PRODUCT
Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO- TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
- BEST-SELLING PRODUCTS
- MOST CONSUMED PRODUCT
- MOST TRADED PRODUCT
- MOST PROFITABLE PRODUCT FOR EXPORT
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5. MOST PROMISING SUPPLYING COUNTRIES
Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO- TOP COUNTRIES TO SOURCE YOUR PRODUCT
- TOP PRODUCING COUNTRIES
- TOP EXPORTING COUNTRIES
- LOW-COST EXPORTING COUNTRIES
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6. MOST PROMISING OVERSEAS MARKETS
Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO- TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
- TOP CONSUMING MARKETS
- UNSATURATED MARKETS
- TOP IMPORTING MARKETS
- MOST PROFITABLE MARKETS
7. PRODUCTION
The Latest Trends and Insights into The Industry
- PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
- IMPORTS FROM 2012–2023
- IMPORTS BY COUNTRY
- IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
- EXPORTS FROM 2012–2023
- EXPORTS BY COUNTRY
- EXPORT PRICES BY COUNTRY
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10. PROFILES OF MAJOR PRODUCERS
The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO -
LIST OF TABLES
- Key Findings In 2023
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Per Capita Consumption In 2012-2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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LIST OF FIGURES
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
- Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
- Trade Balance, In Physical Terms, 2012-2023
- Trade Balance, In Value Terms, 2012-2023
- Per Capita Consumption, 2012-2023
- Market Volume Forecast to 2030
- Market Value Forecast to 2030
- Products: Market Size And Growth, By Type
- Products: Average Per Capita Consumption, By Type
- Products: Exports And Growth, By Type
- Products: Export Prices And Growth, By Type
- Production Volume And Growth
- Exports And Growth
- Export Prices And Growth
- Market Size And Growth
- Per Capita Consumption
- Imports And Growth
- Import Prices
- Production, In Physical Terms, 2012–2023
- Production, In Value Terms, 2012–2023
- Imports, In Physical Terms, 2012–2023
- Imports, In Value Terms, 2012–2023
- Imports, In Physical Terms, By Country, 2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, 2012–2023
- Exports, In Value Terms, 2012–2023
- Exports, In Physical Terms, By Country, 2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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