Latvia: Cylindrical Roller Bearing Market 2024

Cylindrical Roller Bearing Market Size in Latvia

In 2022, the Latvian cylindrical roller bearing market increased by X% to $X, rising for the second consecutive year after two years of decline. Over the period under review, consumption recorded a significant expansion. Latvia consumption peaked in 2022 and is expected to retain growth in years to come.

Cylindrical Roller Bearing Production in Latvia

In value terms, cylindrical roller bearing production expanded significantly to $X in 2022 estimated in export price. In general, production continues to indicate a resilient expansion. The most prominent rate of growth was recorded in 2014 when the production volume increased by X%. Over the period under review, production hit record highs at $X in 2020; however, from 2021 to 2022, production stood at a somewhat lower figure.

Cylindrical Roller Bearing Exports

Exports from Latvia

In 2022, shipments abroad of cylindrical roller bearings decreased by X% to X tons, falling for the second year in a row after four years of growth. Overall, exports faced a abrupt decrease. The most prominent rate of growth was recorded in 2020 when exports increased by X% against the previous year. As a result, the exports attained the peak of X tons. From 2021 to 2022, the growth of the exports remained at a lower figure.

In value terms, cylindrical roller bearing exports contracted to $X in 2022. In general, exports recorded a abrupt slump. The most prominent rate of growth was recorded in 2020 when exports increased by X%. The Latvia exports peaked at $X in 2013; however, from 2014 to 2022, the exports failed to regain momentum.

Exports by Country

Germany (X tons), China (X tons) and Japan (X tons) represented roughly X% of total exports in 2022. Romania (X tons) took an X% share (based on physical terms) of total exports, which put it in second place, followed by Slovakia (X%). Kazakhstan (X tons), Canada (X tons), Hong Kong SAR (X tons), Poland (X tons), France (X tons), Italy (X tons), India (X tons) and the Netherlands (X tons) followed a long way behind the leaders.

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

In value terms, Germany ($X) remains the largest cylindrical roller bearing supplier from Latvia, comprising X% of global exports. The second position in the ranking was held by Japan ($X), with an X% share of global exports. It was followed by China, with an X% share.

From 2012 to 2022, the average annual rate of growth in terms of value in Germany was relatively modest. The remaining exporting countries recorded the following average annual rates of exports growth: Japan (X% per year) and China (X% per year).

Export Prices by Country

In 2022, the export price in Latvia amounted to $X per ton, jumping by X% against the previous year. In general, the export price, however, continues to indicate a mild slump. Over the period under review, the export prices attained the peak figure at $X per ton in 2012; however, from 2013 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 France ($X per ton), while Poland ($X per ton) was amongst the lowest.

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

Cylindrical Roller Bearing Imports

Imports into Latvia

In 2022, the amount of cylindrical roller bearings imported into Latvia declined sharply to X tons, shrinking by X% compared with the previous year. In general, imports recorded a abrupt contraction. The most prominent rate of growth was recorded in 2021 with an increase of X% against the previous year. Over the period under review, imports attained the peak figure at X tons in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

In value terms, cylindrical roller bearing imports reduced sharply to $X in 2022. Overall, imports saw a deep downturn. The pace of growth appeared the most rapid in 2018 with an increase of X% against the previous year. Latvia imports peaked at $X in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, China (X tons), Russia (X tons) and Germany (X tons) was the major importer of cylindrical roller bearings in the world, constituting X% of total import. It was distantly followed by the United States (X tons), mixing up a X% share of total imports. Spain (X tons), Mexico (X tons), Italy (X tons), Brazil (X tons), Thailand (X tons), South Korea (X tons), Belgium (X tons), Turkey (X tons) and the Czech Republic (X tons) took a minor share of total imports.

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

In value terms, China ($X), Germany ($X) and the United States ($X) constituted the countries with the highest levels of imports in 2022, together accounting for X% of total imports. Russia, Mexico, Italy, Brazil, South Korea, Spain, Belgium, Turkey, the Czech Republic and Thailand lagged somewhat behind, together accounting for a further X%.

Spain, with a CAGR of X%, recorded the highest rates of growth with regard to the value of imports, among the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in Latvia stood at $X per ton in 2022, surging by X% against the previous year. Over the period under review, import price indicated strong 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, cylindrical roller bearing import price decreased by X% against 2019 indices. The most prominent rate of growth was recorded in 2013 an increase of X% against the previous year. Over the period under review, import prices reached the maximum at $X per ton in 2019; however, from 2020 to 2022, import prices remained at a 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 the United States ($X per ton), while Russia ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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