Luxembourg: Bearing Market 2024

Bearing Market Size in Luxembourg

In 2022, the Luxembourg bearing market increased by X% to $X, rising for the second year in a row after two years of decline. Over the period under review, consumption, however, continues to indicate a perceptible descent. Over the period under review, the market attained the peak level at $X in 2012; however, from 2013 to 2022, consumption failed to regain momentum.

Bearing Exports

Exports from Luxembourg

In 2022, exports of ball and roller bearings from Luxembourg surged to X tons, with an increase of X% on 2021. In general, exports enjoyed a strong increase. The pace of growth appeared the most rapid in 2018 with an increase of X% against the previous year. The exports peaked in 2022 and are expected to retain growth in the near future.

In value terms, bearing exports surged to $X in 2022. Over the period under review, exports recorded prominent growth. The most prominent rate of growth was recorded in 2018 with an increase of X%. Over the period under review, the exports reached the peak figure in 2022 and are expected to retain growth in the near future.

Exports by Country

Belgium (X tons), Poland (X tons) and France (X tons) were the main destinations of bearing exports from Luxembourg, together accounting for X% of total exports. Japan, the United States, Germany, Canada, Mexico, Turkey and Italy lagged somewhat behind, together comprising 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 Japan (with a CAGR of X%), while the other leaders experienced more modest paces of growth.

In value terms, Belgium ($X) remains the key foreign market for ball and roller bearings exports from Luxembourg, comprising X% of total exports. The second position in the ranking was held by France ($X), with an X% share of total exports. It was followed by Poland, with a X% share.

From 2012 to 2022, the average annual growth rate of value to Belgium totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: France (X% per year) and Poland (X% per year).

Export Prices by Country

The average bearing export price stood at $X per ton in 2022, with an increase of X% against the previous year. Over the period under review, the export price, however, showed a noticeable decrease. The growth pace was the most rapid in 2018 when the average export price increased by X% against the previous year. Over the period under review, the average export prices hit record highs at $X per ton in 2014; however, from 2015 to 2022, the export prices remained at a lower figure.

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

Bearing Imports

Imports into Luxembourg

In 2022, the amount of ball and roller bearings imported into Luxembourg skyrocketed to X tons, rising by X% compared with 2021 figures. In general, total imports indicated a perceptible increase 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, imports increased by X% against 2020 indices. The growth pace was the most rapid in 2014 with an increase of X%. Imports peaked in 2022 and are expected to retain growth in years to come.

In value terms, bearing imports rose sharply to $X in 2022. Over the period under review, imports saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 when imports increased by X%. As a result, imports attained the peak of $X. From 2019 to 2022, the growth of imports failed to regain momentum.

Imports by Country

In 2022, Germany (X tons) constituted the largest bearing supplier to Luxembourg, accounting for a X% share of total imports. Moreover, bearing imports from Germany exceeded the figures recorded by the second-largest supplier, Belgium (X tons), fourfold. The third position in this ranking was held by the United States (X tons), with a X% share.

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

In value terms, Germany ($X), Belgium ($X) and the United States ($X) constituted the largest bearing suppliers to Luxembourg, with a combined X% share of total imports. Japan, France, Poland, the Netherlands and Romania lagged somewhat behind, together accounting for a further X%.

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

Import Prices by Country

In 2022, the average bearing import price amounted to $X per ton, waning by X% against the previous year. Overall, the import price showed a noticeable curtailment. The pace of growth appeared the most rapid in 2017 when the average import price increased by X%. Over the period under review, average import prices reached the peak figure at $X per ton in 2013; however, from 2014 to 2022, import prices failed to regain momentum.

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 Netherlands ($X per ton), while the price for Romania ($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 Netherlands (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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