Lithuania: Bearing Market 2024

Bearing Market Size in Lithuania

In 2022, the Lithuanian bearing market increased by X% to $X, rising for the third year in a row after two years of decline. Overall, consumption showed a relatively flat trend pattern. Over the period under review, the market attained the maximum level at $X in 2013; however, from 2014 to 2022, consumption stood at a somewhat lower figure.

Bearing Production in Lithuania

In value terms, bearing production stood at $X in 2022 estimated in export price. In general, production continues to indicate a significant expansion. The most prominent rate of growth was recorded 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 remained at a lower figure.

Bearing Exports

Exports from Lithuania

In 2022, the amount of ball and roller bearings exported from Lithuania dropped slightly to X tons, declining by X% compared with 2021. In general, total exports indicated prominent growth from 2012 to 2022: its volume 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, exports increased by X% against 2020 indices. The pace of growth was the most pronounced in 2014 when exports increased by X% against the previous year. The exports peaked at X tons in 2021, and then reduced modestly in the following year.

In value terms, bearing exports dropped to $X in 2022. Overall, total exports indicated resilient growth 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, exports increased by X% against 2012 indices. The most prominent rate of growth was recorded in 2013 with an increase of X%. The exports peaked at $X in 2021, and then fell in the following year.

Exports by Country

Poland (X tons), Latvia (X tons) and Kazakhstan (X tons) were the main destinations of bearing exports from Lithuania, with a combined X% share of total exports. Italy, Kyrgyzstan, Russia, Romania, Estonia, Bulgaria, the Czech Republic, Hungary, France and Ukraine 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 Italy (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 Lithuania were Kazakhstan ($X), Latvia ($X) and Poland ($X), together comprising X% of total exports. Russia, Kyrgyzstan, Estonia, Bulgaria, Ukraine, Italy, Romania, Hungary, France and the Czech Republic lagged somewhat behind, together comprising a further X%.

In terms of the main countries of destination, Italy, with a CAGR of X%, saw the highest growth rate of the value of exports, 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 bearing export price amounted to $X per ton, which is down by X% against the previous year. Overall, the export price saw a relatively flat trend pattern. The growth pace was the most rapid in 2017 when the average export price increased by X%. The export price peaked at $X per ton in 2013; however, from 2014 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Kazakhstan ($X per ton), while the average price for exports to Italy ($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 Kyrgyzstan (X%), while the prices for the other major destinations experienced more modest paces of growth.

Bearing Imports

Imports into Lithuania

In 2022, imports of ball and roller bearings into Lithuania contracted modestly to X tons, reducing by X% compared with the previous year. The total import volume increased at an average annual rate of X% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2016 when imports increased by X% against the previous year. Imports peaked at X tons in 2021, and then dropped slightly in the following year.

In value terms, bearing imports rose markedly to $X in 2022. Over the period under review, total imports indicated a temperate increase 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 2015 indices. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

China (X tons), Poland (X tons) and Malaysia (X tons) were the main suppliers of bearing imports to Lithuania, together accounting for X% of total imports. Sweden, Germany, France, Latvia, the Czech Republic, Italy, Spain, Russia and the United Arab Emirates lagged somewhat behind, together comprising a further X%.

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

In value terms, the largest bearing suppliers to Lithuania were Poland ($X), Germany ($X) and Sweden ($X), together comprising X% of total imports. China, France, the Czech Republic, Italy, Latvia, Malaysia, Spain, Russia and the United Arab Emirates lagged somewhat behind, together accounting for a further X%.

In terms of the main suppliers, the Czech Republic, with a CAGR of X%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average bearing import price stood at $X per ton in 2022, jumping by X% against the previous year. Over the period under review, the import price continues to indicate a modest expansion. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the United Arab Emirates ($X per ton), while the price for Malaysia ($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 Arab Emirates (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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