Belgium: Roller Bearing Market 2024

Roller Bearing Market Size in Belgium

In 2023, the Belgian roller bearing market was finally on the rise to reach $X after five years of decline. In general, consumption, however, continues to indicate a mild slump. Belgium consumption peaked at $X in 2017; however, from 2018 to 2023, consumption failed to regain momentum.

Roller Bearing Production in Belgium

In value terms, roller bearing production reduced to $X in 2023 estimated in export price. In general, production saw a abrupt decrease. The most prominent rate of growth was recorded in 2020 when the production volume increased by X% against the previous year. Belgium production peaked at $X in 2017; however, from 2018 to 2023, production failed to regain momentum.

Roller Bearing Exports

Exports from Belgium

In 2023, shipments abroad of roller bearings decreased by X% to X tons, falling for the second consecutive year after two years of growth. In general, exports, however, showed a modest expansion. The most prominent rate of growth was recorded in 2021 when exports increased by X% against the previous year. As a result, the exports attained the peak of X tons. From 2022 to 2023, the growth of the exports remained at a lower figure.

In value terms, roller bearing exports declined slightly to $X in 2023. Overall, exports, however, saw a relatively flat trend pattern. The growth pace was the most rapid in 2015 when exports increased by X%. The Belgium exports peaked at $X in 2021; however, from 2022 to 2023, the exports remained at a lower figure.

Exports by Country

China represented the largest exporting country with an export of about X tons, which finished at X% of total exports. It was distantly followed by Germany (X tons), France (X tons), Singapore (X tons), Slovakia (X tons) and Italy (X tons), together achieving a X% share of total exports. South Korea (X tons), the United States (X tons), Vietnam (X tons), the Netherlands (X tons), Turkey (X tons), Hong Kong SAR (X tons) and Austria (X tons) followed a long way behind the leaders.

China was also the fastest-growing in terms of the roller bearings exports, with a CAGR of X% from 2012 to 2023. At the same time, the Netherlands (X%), Vietnam (X%) and Turkey (X%) displayed positive paces of growth. Germany and Slovakia experienced a relatively flat trend pattern. By contrast, Italy (X%), France (X%), Singapore (X%), the United States (X%), South Korea (X%), Hong Kong SAR (X%) and Austria (X%) illustrated a downward trend over the same period. While the share of China (X p.p.), Vietnam (X p.p.) and the Netherlands (X p.p.) increased significantly in terms of the global exports from 2012-2023, the share of France (X p.p.), Singapore (X p.p.), Hong Kong SAR (X p.p.), the United States (X p.p.), South Korea (X p.p.) and Austria (X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X), Germany ($X) and Italy ($X) constituted the countries with the highest levels of exports in 2023, together comprising X% of total exports. The United States, Singapore, France, Vietnam, the Netherlands, Hong Kong SAR, Slovakia, Turkey, South Korea and Austria lagged somewhat behind, together accounting for a further X%.

Vietnam, with a CAGR of X%, recorded the highest growth rate of the value of exports, among the main exporting countries over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2023, the export price in Belgium amounted to $X per ton, rising by X% against the previous year. Overall, the export price, however, showed a relatively flat trend pattern. Over the period under review, the export prices hit record highs at $X per ton in 2017; however, from 2018 to 2023, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: 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 2023, the most notable rate of growth in terms of prices was attained by Austria (X%), while the other leaders experienced more modest paces of growth.

Roller Bearing Imports

Imports into Belgium

In 2023, supplies from abroad of roller bearings was finally on the rise to reach X tons after four years of decline. Over the period under review, imports, however, showed a pronounced decrease. The growth pace was the most rapid in 2018 with an increase of X%. As a result, imports reached the peak of X tons. From 2019 to 2023, the growth of imports failed to regain momentum.

In value terms, roller bearing imports surged to $X in 2023. In general, imports, however, recorded a abrupt decline. The pace of growth was the most pronounced in 2018 when imports increased by X%. As a result, imports attained the peak of $X. From 2019 to 2023, the growth of imports remained at a somewhat lower figure.

Imports by Country

In 2023, Indonesia (X tons), followed by Thailand (X tons), India (X tons) and Germany (X tons) were the major importers of roller bearings, together making up X% of total imports. South Korea (X tons), Italy (X tons), Canada (X tons), Poland (X tons), Nigeria (X tons), France (X tons), Austria (X tons), Spain (X tons) and Malaysia (X tons) took a little share of total imports.

From 2012 to 2023, the biggest increases were recorded for Malaysia (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X), India ($X) and Indonesia ($X) were the countries with the highest levels of imports in 2023, together accounting for X% of total imports. Canada, Thailand, Poland, Italy, France, Malaysia, South Korea, Austria, Spain and Nigeria lagged somewhat behind, together comprising a further X%.

In terms of the main importing countries, Poland, 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

In 2023, the import price in Belgium amounted to $X per ton, reducing by X% against the previous year. Overall, the import price showed a pronounced decline. The pace of growth appeared the most rapid in 2017 when the import price increased by X% against the previous year. Belgium import price peaked at $X per ton in 2012; however, from 2013 to 2023, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Canada ($X per ton), while Nigeria ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by France (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform