Norway: Bearing Market 2024

Bearing Market Size in Norway

The Norwegian bearing market declined slightly to $X in 2022, approximately mirroring the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). In general, consumption, however, showed a pronounced setback. Bearing consumption peaked at $X in 2014; however, from 2015 to 2022, consumption stood at a somewhat lower figure.

Bearing Exports

Exports from Norway

Bearing exports from Norway contracted modestly to X tons in 2022, standing approx. at 2021. Overall, exports continue to indicate a drastic downturn. The most prominent rate of growth was recorded in 2014 when exports increased by X% against the previous year. As a result, the exports attained the peak of X tons. From 2015 to 2022, the growth of the exports failed to regain momentum.

In value terms, bearing exports reached $X in 2022. Over the period under review, exports showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2014 when exports increased by X%. As a result, the exports reached the peak of $X. From 2015 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

Poland (X tons) was the main destination for bearing exports from Norway, with a X% share of total exports. Moreover, bearing exports to Poland exceeded the volume sent to the second major destination, the Netherlands (X tons), twofold. Sweden (X tons) ranked third in terms of total exports with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Poland amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Netherlands (X% per year) and Sweden (X% per year).

In value terms, Poland ($X), the Netherlands ($X) and Brazil ($X) were the largest markets for bearing exported from Norway worldwide, with a combined X% share of total exports. The United States, China, Germany, the UK, Denmark, Singapore, Canada, the United Arab Emirates, Sweden and South Korea lagged somewhat behind, together comprising a further X%.

The United Arab Emirates, with a CAGR of X%, saw the highest rates of growth with regard to 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 bearing export price amounted to $X per ton, increasing by X% against the previous year. Over the last decade, it increased at an average annual rate of X%. The most prominent rate of growth was recorded in 2013 when the average export price increased by X%. Over the period under review, the average export prices attained the maximum in 2022 and is expected to retain growth in the near future.

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

Bearing Imports

Imports into Norway

In 2022, purchases abroad of ball and roller bearings increased by X% to X tons for the first time since 2019, thus ending a two-year declining trend. Over the period under review, imports, however, saw a deep downturn. The pace of growth appeared the most rapid in 2018 when imports increased by X% against the previous year. Imports peaked at X tons in 2014; however, from 2015 to 2022, imports stood at a somewhat lower figure.

In value terms, bearing imports contracted modestly to $X in 2022. In general, imports, however, recorded a pronounced contraction. The pace of growth appeared the most rapid in 2018 with an increase of X%. Over the period under review, imports hit record highs at $X in 2014; however, from 2015 to 2022, imports remained at a lower figure.

Imports by Country

Germany (X tons), China (X tons) and Sweden (X tons) were the main suppliers of bearing imports to Norway, with a combined X% share of total imports. Italy, France, Romania, Japan, Latvia, the UK, the United States, Austria and Slovakia lagged somewhat behind, together comprising a further X%.

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

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

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

Import Prices by Country

In 2022, the average bearing import price amounted to $X per ton, which is down by X% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of X%. The growth pace was the most rapid in 2021 an increase of X% against the previous year. As a result, import price attained the peak level of $X per ton, and then fell slightly in the following year.

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

Source: IndexBox Platform

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