Finland: Ball Bearing Parts Market 2024

Ball Bearing Parts Market Size in Finland

The Finnish ball bearing parts market soared to $X in 2022, with an increase of X% against the previous year. Overall, consumption saw temperate growth. Over the period under review, the market reached the maximum level at $X in 2019; however, from 2020 to 2022, consumption failed to regain momentum.

Ball Bearing Parts Production in Finland

In value terms, ball bearing parts production shrank rapidly to $X in 2022 estimated in export price. Overall, production showed a deep contraction. The growth pace was the most rapid in 2019 when the production volume increased by X% against the previous year. As a result, production attained the peak level of $X. From 2020 to 2022, production growth failed to regain momentum.

Ball Bearing Parts Exports

Exports from Finland

In 2022, approx. X tons of parts of ball or roller bearings were exported from Finland; which is down by X% compared with 2021. In general, exports showed a mild decline. The most prominent rate of growth was recorded in 2017 when exports increased by X% against the previous year. Over the period under review, the exports hit record highs at X tons in 2020; however, from 2021 to 2022, the exports failed to regain momentum.

In value terms, ball bearing parts exports shrank markedly to $X in 2022. Over the period under review, exports, however, posted a tangible increase. The pace of growth was the most pronounced in 2017 with an increase of X% against the previous year. As a result, the exports attained the peak of $X. From 2018 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

Estonia (X tons), China (X tons) and Brazil (X tons) were the main destinations of ball bearing parts exports from Finland, with a combined X% share of total exports. Mexico, Chile, Germany, Sweden, France, Turkey, the United States, the Netherlands, Colombia and Canada 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 Mexico (with a CAGR of X%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for ball bearing parts exported from Finland were Estonia ($X), China ($X) and the Netherlands ($X), with a combined X% share of total exports. Brazil, the United States, Sweden, Germany, Chile, France, Canada, Turkey, Mexico and Colombia lagged somewhat behind, together comprising a further X%.

Mexico, with a CAGR of X%, 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

In 2022, the average ball bearing parts export price amounted to $X per ton, with an increase of X% against the previous year. Overall, export price indicated measured growth from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, ball bearing parts export price increased by X% against 2020 indices. The pace of growth appeared the most rapid in 2019 when the average export price increased by X% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2020 to 2022, the average export prices remained at a somewhat lower figure.

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

Ball Bearing Parts Imports

Imports into Finland

After two years of decline, purchases abroad of parts of ball or roller bearings increased by X% to X tons in 2022. Overall, imports enjoyed a pronounced expansion. The most prominent rate of growth was recorded in 2016 with an increase of X%. Imports peaked at X tons in 2019; however, from 2020 to 2022, imports remained at a lower figure.

In value terms, ball bearing parts imports soared to $X in 2022. In general, total imports indicated a pronounced expansion from 2012 to 2022: its value increased at an average annual rate of X% 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 X% against 2020 indices. The pace of growth was the most pronounced in 2013 with an increase of X% against the previous year. Imports peaked at $X in 2019; however, from 2020 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 ball bearing parts imports to Finland, together accounting for X% of total imports. India, Belgium, Italy, France, Estonia and the UK lagged somewhat behind, together accounting for a further X%.

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

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

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

Import Prices by Country

The average ball bearing parts import price stood at $X per ton in 2022, remaining constant against the previous year. In general, import price indicated a modest increase from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, ball bearing parts import price increased by X% against 2020 indices. The pace of growth was the most pronounced in 2021 when the average import price increased by X% against the previous year. Over the period under review, average import prices hit record highs at $X per ton in 2013; however, from 2014 to 2022, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Germany ($X per ton), while the price for India ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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