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Latvia - Spherical Roller Bearings - Market Analysis, Forecast, Size, Trends and Insights
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View PricingLatvia: Spherical Roller Bearing Market 2024
Spherical Roller Bearing Market Size in Latvia
In 2023, the Latvian spherical roller bearing market increased by X% to $X, rising for the fifth consecutive year after two years of decline. Over the period under review, consumption enjoyed a resilient increase. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.
Spherical Roller Bearing Production in Latvia
In value terms, spherical roller bearing production skyrocketed to $X in 2023 estimated in export price. In general, production, however, posted a significant expansion. The pace of growth was the most pronounced in 2019 when the production volume increased by X%. Latvia production peaked at $X in 2021; however, from 2022 to 2023, production stood at a somewhat lower figure.
Spherical Roller Bearing Exports
Exports from Latvia
After four years of growth, shipments abroad of spherical roller bearings decreased by X% to X tons in 2023. In general, exports, however, showed significant growth. The growth pace was the most rapid in 2017 with an increase of X%. The Latvia exports peaked at X tons in 2022, and then fell dramatically in the following year.
In value terms, spherical roller bearing exports declined notably to $X in 2023. Overall, exports, however, posted significant growth. The pace of growth was the most pronounced in 2017 with an increase of X%. The Latvia exports peaked at $X in 2022, and then dropped dramatically in the following year.
Exports by Country
In 2023, China (X tons) was the main exporter of spherical roller bearings, constituting X% of total exports. Sweden (X tons) took an X% share (based on physical terms) of total exports, which put it in second place, followed by Germany (X%), Japan (X%) and Romania (X%). The following exporters - Belgium (X tons), Malaysia (X tons), France (X tons), Thailand (X tons), Singapore (X tons), the UK (X tons), Italy (X tons) and the United States (X tons) - together made up X% of total exports.
Exports from China increased at an average annual rate of X% from 2012 to 2023. At the same time, Thailand (X%), Malaysia (X%), Romania (X%) and France (X%) displayed positive paces of growth. Moreover, Thailand emerged as the fastest-growing exporter exported in the world, with a CAGR of X% from 2012-2023. Italy experienced a relatively flat trend pattern. By contrast, Germany (X%), Japan (X%), Sweden (X%), Belgium (X%), the UK (X%), Singapore (X%) and the United States (X%) illustrated a downward trend over the same period. From 2012 to 2023, the share of China, Romania and Thailand increased by X, X and X percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.
In value terms, the largest spherical roller bearing supplying countries from Latvia were Sweden ($X), Germany ($X) and China ($X), with a combined X% share of total exports. Japan, Belgium, the United States, Romania, France, the UK, Malaysia, Italy, Singapore and Thailand lagged somewhat behind, together accounting for a further X%.
Among 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 2023, the export price in Latvia amounted to $X per ton, picking up by X% against the previous year. In general, the export price, however, recorded a deep reduction. The pace of growth was the most pronounced in 2022 an increase of X%. The Latvia export price peaked at $X per ton in 2013; however, from 2014 to 2023, the export prices remained at a lower figure.
Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was the United States ($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 the United States (X%), while the other leaders experienced more modest paces of growth.
Spherical Roller Bearing Imports
Imports into Latvia
In 2023, approx. X tons of spherical roller bearings were imported into Latvia; reducing by X% on 2022. Over the period under review, imports, however, showed a resilient increase. The pace of growth was the most pronounced in 2020 with an increase of X%. As a result, imports reached the peak of X tons. From 2021 to 2023, the growth of imports remained at a somewhat lower figure.
In value terms, spherical roller bearing imports skyrocketed to $X in 2023. In general, imports, however, enjoyed resilient growth. The pace of growth appeared the most rapid in 2020 when imports increased by X% against the previous year. Latvia imports peaked in 2023 and are expected to retain growth in the near future.
Imports by Country
The purchases of the twelve major importers of spherical roller bearings, namely China, Belgium, India, Germany, the United States, South Korea, France, Brazil, Turkey, Russia, Italy and Thailand, represented more than half of total import. Canada (X tons) held a little share of total imports.
From 2012 to 2023, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by India (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.
In value terms, the largest spherical roller bearing importing markets into Latvia were Belgium ($X), the United States ($X) and China ($X), with a combined X% share of total imports. India, Germany, France, Italy, South Korea, Turkey, Brazil, Canada, Russia and Thailand lagged somewhat behind, together accounting for a further X%.
India, with a CAGR of X%, recorded the highest rates of growth with regard to the value of imports, in terms of 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
The import price in Latvia stood at $X per ton in 2023, growing by X% against the previous year. Over the period under review, the import price recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2022 an increase of X% against the previous year. Over the period under review, import prices attained the peak figure at $X per ton in 2014; however, from 2015 to 2023, import prices failed to regain momentum.
There were significant differences in the average prices amongst the major importing countries. In 2023, amid the top importers, the country with the highest price was the United States ($X per ton), while Thailand ($X per ton) was amongst the lowest.
From 2012 to 2023, 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.
Source: IndexBox Platform
This report provides an in-depth analysis of the spherical roller bearing market in Latvia. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.
Product coverage:
- Prodcom 28151055 - Spherical roller bearings
Country coverage:
- Latvia
Data coverage:
- Market volume and value
- Per Capita consumption
- Forecast of the market dynamics in the medium term
- Trade (exports and imports) in Latvia
- Export and import prices
- Market trends, drivers and restraints
- Key market players and their profiles
Reasons to buy this report:
- Take advantage of the latest data
- Find deeper insights into current market developments
- Discover vital success factors affecting the market
This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.
In this report, you can find information that helps you to make informed decisions on the following issues:
- How to diversify your business and benefit from new market opportunities
- How to load your idle production capacity
- How to boost your sales on overseas markets
- How to increase your profit margins
- How to make your supply chain more sustainable
- How to reduce your production and supply chain costs
- How to outsource production to other countries
- How to prepare your business for global expansion
While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.
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1. INTRODUCTION
Making Data-Driven Decisions to Grow Your Business
- REPORT DESCRIPTION
- RESEARCH METHODOLOGY AND AI PLATFORM
- DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
- GLOSSARY AND SPECIFIC TERMS
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2. EXECUTIVE SUMMARY
A Quick Overview of Market Performance
- KEY FINDINGS
- MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
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3. MARKET OVERVIEW
Understanding the Current State of The Market and Its Prospects
- MARKET SIZE
- MARKET STRUCTURE
- TRADE BALANCE
- PER CAPITA CONSUMPTION
- MARKET FORECAST TO 2030
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4. MOST PROMISING PRODUCT
Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO- TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
- BEST-SELLING PRODUCTS
- MOST CONSUMED PRODUCT
- MOST TRADED PRODUCT
- MOST PROFITABLE PRODUCT FOR EXPORT
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5. MOST PROMISING SUPPLYING COUNTRIES
Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO- TOP COUNTRIES TO SOURCE YOUR PRODUCT
- TOP PRODUCING COUNTRIES
- TOP EXPORTING COUNTRIES
- LOW-COST EXPORTING COUNTRIES
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6. MOST PROMISING OVERSEAS MARKETS
Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO- TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
- TOP CONSUMING MARKETS
- UNSATURATED MARKETS
- TOP IMPORTING MARKETS
- MOST PROFITABLE MARKETS
7. PRODUCTION
The Latest Trends and Insights into The Industry
- PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
- IMPORTS FROM 2012–2023
- IMPORTS BY COUNTRY
- IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
- EXPORTS FROM 2012–2023
- EXPORTS BY COUNTRY
- EXPORT PRICES BY COUNTRY
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10. PROFILES OF MAJOR PRODUCERS
The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO -
LIST OF TABLES
- Key Findings In 2023
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Per Capita Consumption In 2012-2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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LIST OF FIGURES
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
- Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
- Trade Balance, In Physical Terms, 2012-2023
- Trade Balance, In Value Terms, 2012-2023
- Per Capita Consumption, 2012-2023
- Market Volume Forecast to 2030
- Market Value Forecast to 2030
- Products: Market Size And Growth, By Type
- Products: Average Per Capita Consumption, By Type
- Products: Exports And Growth, By Type
- Products: Export Prices And Growth, By Type
- Production Volume And Growth
- Exports And Growth
- Export Prices And Growth
- Market Size And Growth
- Per Capita Consumption
- Imports And Growth
- Import Prices
- Production, In Physical Terms, 2012–2023
- Production, In Value Terms, 2012–2023
- Imports, In Physical Terms, 2012–2023
- Imports, In Value Terms, 2012–2023
- Imports, In Physical Terms, By Country, 2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, 2012–2023
- Exports, In Value Terms, 2012–2023
- Exports, In Physical Terms, By Country, 2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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