Serbia: Ball Bearing Market 2024

Ball Bearing Market Size in Serbia

In 2022, the Serbian ball bearing market increased by X% to $X, rising for the third consecutive year after two years of decline. The market value increased at an average annual rate of X% over the period from 2012 to 2022; the trend pattern remained relatively stable, with only minor fluctuations in certain years. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Ball Bearing Production in Serbia

In value terms, ball bearing production skyrocketed to $X in 2022 estimated in export price. Over the period under review, the total production indicated a buoyant 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, production increased by X% against 2012 indices. As a result, production reached the peak level and is likely to continue growth in the immediate term.

Ball Bearing Exports

Exports from Serbia

For the third year in a row, Serbia recorded growth in overseas shipments of ball bearings, which increased by X% to X tons in 2022. Over the period under review, exports saw a prominent expansion. The most prominent rate of growth was recorded in 2014 with an increase of X%. The Serbia exports peaked in 2022 and are expected to retain growth in the near future.

In value terms, ball bearing exports rose sharply to $X in 2022. In general, exports saw a remarkable increase. The most prominent rate of growth was recorded in 2014 when exports increased by X% against the previous year. Over the period under review, the exports attained the peak figure in 2022 and are expected to retain growth in the immediate term.

Exports by Country

China was the main exporting country with an export of about X tons, which recorded X% of total exports. Japan (X tons) held the second position in the ranking, followed by Germany (X tons) and Italy (X tons). All these countries together held approx. X% share of total exports. South Korea (X tons), France (X tons), the Netherlands (X tons), Poland (X tons), Thailand (X tons), Singapore (X tons), the United States (X tons) and Slovakia (X tons) held a minor share of total exports.

China was also the fastest-growing in terms of the ball bearings exports, with a CAGR of X% from 2012 to 2022. At the same time, Thailand (X%), the Netherlands (X%), Poland (X%), South Korea (X%) and Italy (X%) displayed positive paces of growth. Japan and Germany experienced a relatively flat trend pattern. By contrast, France (X%), Slovakia (X%), Singapore (X%) and the United States (X%) illustrated a downward trend over the same period. From 2012 to 2022, the share of China increased by X percentage points. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest ball bearing supplying countries from Serbia were China ($X), Germany ($X) and Japan ($X), together accounting for X% of total exports. Italy, the United States, France, the Netherlands, Thailand, South Korea, Singapore, Poland and Slovakia lagged somewhat behind, together comprising a further X%.

In terms of the main exporting countries, Thailand, with a CAGR of X%, recorded the highest rates of growth with regard to 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 export price in Serbia amounted to $X per ton, leveling off at the previous year. Overall, the export price continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 an increase of X%. Over the period under review, the export prices hit record highs in 2022 and is likely to continue growth in the near future.

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 the United States ($X per ton), while China ($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 other leaders experienced more modest paces of growth.

Ball Bearing Imports

Imports into Serbia

For the sixth consecutive year, Serbia recorded growth in purchases abroad of ball bearings, which increased by X% to X tons in 2022. Overall, imports saw a remarkable increase. The pace of growth was the most pronounced in 2015 when imports increased by X% against the previous year. Serbia imports peaked in 2022 and are likely to continue growth in years to come.

In value terms, ball bearing imports rose remarkably to $X in 2022. Over the period under review, imports continue to indicate strong growth. The pace of growth appeared the most rapid in 2021 with an increase of X%. Over the period under review, imports reached the peak figure in 2022 and are expected to retain growth in the near future.

Imports by Country

Germany (X tons), the United States (X tons) and China (X tons) represented roughly X% of total imports in 2022. The following importers - Italy (X tons), Mexico (X tons), the Netherlands (X tons), Brazil (X tons), France (X tons), Indonesia (X tons), Russia (X tons), Belgium (X tons), South Korea (X tons) and India (X tons) - together made up X% 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 Russia (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X), China ($X) and the United States ($X) were the countries with the highest levels of imports in 2022, together comprising X% of total imports. Italy, Mexico, the Netherlands, India, France, South Korea, Brazil, Russia, Belgium and Indonesia lagged somewhat behind, together accounting for a further X%.

Russia, with a CAGR of X%, saw 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

In 2022, the import price in Serbia amounted to $X per ton, with a decrease of X% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of X%. The most prominent rate of growth was recorded in 2013 when the import price increased by X%. Serbia import price peaked at $X per ton in 2021, and then shrank slightly in the following year.

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 China ($X per ton), while Indonesia ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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