Serbia: Bearing Market 2024

Bearing Market Size in Serbia

The Serbian bearing market fell markedly to $X in 2022, which is down by X% against the previous year. In general, consumption saw a deep downturn. As a result, consumption attained the peak level of $X. From 2018 to 2022, the growth of the market remained at a somewhat lower figure.

Bearing Production in Serbia

In value terms, bearing production fell significantly to $X in 2022 estimated in export price. Overall, production showed a deep slump. The most prominent rate of growth was recorded in 2017 when the production volume increased by X% against the previous year. As a result, production attained the peak level of $X. From 2018 to 2022, production growth remained at a somewhat lower figure.

Bearing Exports

Exports from Serbia

For the third year in a row, Serbia recorded growth in overseas shipments of ball or roller bearings, which increased by X% to X tons in 2022. Overall, total exports indicated a temperate 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, exports increased by X% against 2018 indices. The pace of growth appeared the most rapid in 2014 when exports increased by X% against the previous year. The exports peaked in 2022 and are expected to retain growth in years to come.

In value terms, bearing exports expanded markedly to $X in 2022. Over the period under review, exports enjoyed prominent growth. The most prominent rate of growth was recorded in 2017 with an increase of X% against the previous year. Over the period under review, the exports hit record highs in 2022 and are likely to continue growth in the immediate term.

Exports by Country

Russia (X tons) was the main destination for bearing exports from Serbia, with a X% share of total exports. Moreover, bearing exports to Russia exceeded the volume sent to the second major destination, Italy (X tons), twofold. The third position in this ranking was held by Poland (X tons), with a X% share.

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

In value terms, Russia ($X) remains the key foreign market for ball or roller bearings exports from Serbia, comprising X% of total exports. The second position in the ranking was taken by Italy ($X), with a X% share of total exports. It was followed by Poland, with a X% share.

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

Export Prices by Country

In 2022, the average bearing export price amounted to $X per ton, growing by X% against the previous year. Over the last decade, it increased at an average annual rate of X%. The pace of growth appeared the most rapid in 2013 an increase of X%. The export price peaked in 2022 and is expected to retain growth in the immediate term.

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

Bearing Imports

Imports into Serbia

For the third consecutive year, Serbia recorded growth in supplies from abroad of ball or roller bearings, which increased by X% to X tons in 2022. Overall, total imports indicated a temperate expansion 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 2018 indices. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, bearing imports expanded sharply to $X in 2022. In general, total imports 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, imports increased by X% against 2015 indices. The pace of growth was the most pronounced in 2017 when imports increased by X% against the previous year. Over the period under review, imports hit record highs in 2022 and are likely to continue growth in years to come.

Imports by Country

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

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

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

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

Import Prices by Country

In 2022, the average bearing import price amounted to $X per ton, remaining relatively unchanged against the previous year. Overall, the import price, however, continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2013 an increase of X%. The import price peaked at $X per ton in 2021, and then contracted in the following year.

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

Source: IndexBox Platform

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