European Union's Bearing Market to Reach 494K Tons and $7.3B by 2035 - News and Statistics - IndexBox

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IndexBox has just published a new report: EU - Ball and Roller Bearings - Market Analysis, Forecast, Size, Trends And Insights.

The demand for bearings in the European Union is on the rise, leading to an expected upward consumption trend over the next decade. The market performance is forecasted to see a slight increase, with a projected CAGR of +0.5% in volume and +1.4% in value from 2024 to 2035.

Driven by rising demand for bearing in the European Union, the market is expected to start an upward consumption trend over the next decade. The performance of the market is forecast to increase slightly, with an anticipated CAGR of +0.5% for the period from 2024 to 2035, which is projected to bring the market volume to 494K tons by the end of 2035.

In value terms, the market is forecast to increase with an anticipated CAGR of +1.4% for the period from 2024 to 2035, which is projected to bring the market value to $7.3B (in nominal wholesale prices) by the end of 2035.

In 2024, approx. 469K tons of ball and roller bearings were consumed in the European Union; growing by 8% against the year before. Overall, consumption, however, saw a pronounced descent. The volume of consumption peaked at 668K tons in 2018; however, from 2019 to 2024, consumption failed to regain momentum.

The value of the bearing market in the European Union expanded rapidly to $6.2B in 2024, surging by 6.9% against 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, recorded a slight setback. Over the period under review, the market attained the peak level at $8.9B in 2014; however, from 2015 to 2024, consumption remained at a lower figure.

The countries with the highest volumes of consumption in 2024 were Germany (105K tons), Italy (103K tons) and Spain (61K tons), together accounting for 57% of total consumption.

From 2013 to 2024, the most notable rate of growth in terms of consumption, amongst the key consuming countries, was attained by Spain (with a CAGR of +5.2%), while consumption for the other leaders experienced more modest paces of growth.

In value terms, Italy ($1.3B), Germany ($1.2B) and Spain ($697M) were the countries with the highest levels of market value in 2024, with a combined 52% share of the total market.

Spain, with a CAGR of +4.4%, recorded the highest rates of growth with regard to market size in terms of the main consuming countries over the period under review, while market for the other leaders experienced mixed trends in the market figures.

The countries with the highest levels of bearing per capita consumption in 2024 were Slovakia (2.8 kg per person), Denmark (2.5 kg per person) and Hungary (2 kg per person).

From 2013 to 2024, the biggest increases were recorded for Spain (with a CAGR of +5.1%), while consumption for the other leaders experienced more modest paces of growth.

In 2024, approx. 396K tons of ball and roller bearings were produced in the European Union; picking up by 2.5% on the previous year's figure. Over the period under review, production, however, recorded a noticeable descent. The most prominent rate of growth was recorded in 2014 when the production volume increased by 9% against the previous year. As a result, production attained the peak volume of 640K tons. From 2015 to 2024, production growth remained at a somewhat lower figure.

In value terms, bearing production expanded sharply to $6.8B in 2024 estimated in export price. Overall, production, however, continues to indicate a perceptible slump. The most prominent rate of growth was recorded in 2021 with an increase of 17% against the previous year. The level of production peaked at $11.4B in 2014; however, from 2015 to 2024, production stood at a somewhat lower figure.

The countries with the highest volumes of production in 2024 were Italy (89K tons), Germany (71K tons) and Spain (47K tons), with a combined 52% share of total production.

From 2013 to 2024, the biggest increases were recorded for Spain (with a CAGR of +4.6%), while production for the other leaders experienced mixed trends in the production figures.

In 2024, supplies from abroad of ball and roller bearings decreased by -30.1% to 484K tons, falling for the second consecutive year after two years of growth. Over the period under review, imports continue to indicate a pronounced descent. The pace of growth appeared the most rapid in 2021 with an increase of 25% against the previous year. The volume of import peaked at 781K tons in 2022; however, from 2023 to 2024, imports stood at a somewhat lower figure.

In value terms, bearing imports fell rapidly to $7.3B in 2024. In general, imports showed a perceptible contraction. The growth pace was the most rapid in 2021 with an increase of 22% against the previous year. Over the period under review, imports hit record highs at $10.6B in 2023, and then contracted sharply in the following year.

In 2024, Germany (147K tons) was the largest importer of ball and roller bearings, generating 30% of total imports. Italy (54K tons) ranks second in terms of the total imports with an 11% share, followed by France (8.8%), the Netherlands (8%), Belgium (7.6%) and Spain (6.4%). Poland (19K tons), the Czech Republic (18K tons), Denmark (17K tons) and Sweden (16K tons) followed a long way behind the leaders.

From 2013 to 2024, average annual rates of growth with regard to bearing imports into Germany stood at -3.8%. At the same time, Belgium (+9.8%) displayed positive paces of growth. Moreover, Belgium emerged as the fastest-growing importer imported in the European Union, with a CAGR of +9.8% from 2013-2024. Spain and Poland experienced a relatively flat trend pattern. By contrast, the Netherlands (-1.0%), Denmark (-1.4%), Italy (-1.9%), the Czech Republic (-2.2%), Sweden (-3.8%) and France (-3.9%) illustrated a downward trend over the same period. From 2013 to 2024, the share of Belgium and Spain increased by +5.6 and +2 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Germany ($2.3B) constitutes the largest market for imported ball and roller bearings in the European Union, comprising 31% of total imports. The second position in the ranking was taken by France ($858M), with a 12% share of total imports. It was followed by Italy, with a 9.8% share.

From 2013 to 2024, the average annual rate of growth in terms of value in Germany totaled -3.6%. In the other countries, the average annual rates were as follows: France (-2.1% per year) and Italy (-3.0% per year).

The import price in the European Union stood at $15,146 per ton in 2024, approximately mirroring the previous year. Over the period under review, the import price, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2023 an increase of 15% against the previous year. As a result, import price attained the peak level of $15,335 per ton, and then contracted slightly in the following year.

There were significant differences in the average prices amongst the major importing countries. In 2024, amid the top importers, the country with the highest price was France ($20,079 per ton), while Denmark ($10,278 per ton) was amongst the lowest.

From 2013 to 2024, the most notable rate of growth in terms of prices was attained by France (+1.9%), while the other leaders experienced more modest paces of growth.

In 2024, shipments abroad of ball and roller bearings decreased by -36.2% to 412K tons, falling for the second year in a row after two years of growth. In general, exports recorded a noticeable downturn. The pace of growth appeared the most rapid in 2021 when exports increased by 10% against the previous year. Over the period under review, the exports hit record highs at 685K tons in 2022; however, from 2023 to 2024, the exports failed to regain momentum.

In value terms, bearing exports shrank dramatically to $8.8B in 2024. Over the period under review, exports continue to indicate a pronounced slump. The pace of growth was the most pronounced in 2021 when exports increased by 18% against the previous year. The level of export peaked at $12.8B in 2023, and then shrank significantly in the following year.

In 2024, Germany (113K tons) represented the key exporter of ball and roller bearings, making up 28% of total exports. Italy (40K tons) took the second position in the ranking, followed by France (39K tons), the Netherlands (37K tons), Romania (33K tons), Poland (25K tons), Austria (21K tons) and Slovakia (21K tons). All these countries together took near 52% share of total exports. The following exporters - Spain (18K tons) and Belgium (15K tons) - each accounted for a 7.9% share of total exports.

Exports from Germany decreased at an average annual rate of -3.8% from 2013 to 2024. At the same time, Belgium (+8.1%) displayed positive paces of growth. Moreover, Belgium emerged as the fastest-growing exporter exported in the European Union, with a CAGR of +8.1% from 2013-2024. The Netherlands experienced a relatively flat trend pattern. By contrast, Romania (-1.8%), Poland (-2.2%), Spain (-2.3%), Italy (-5.0%), Slovakia (-6.2%), France (-7.1%) and Austria (-7.5%) illustrated a downward trend over the same period. While the share of the Netherlands (+3.7 p.p.), Belgium (+2.6 p.p.) and Romania (+1.7 p.p.) increased significantly in terms of the total exports from 2013-2024, the share of Slovakia (-1.6 p.p.), Austria (-2.7 p.p.) and France (-4.2 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Germany ($3.3B) remains the largest bearing supplier in the European Union, comprising 37% of total exports. The second position in the ranking was held by France ($1.1B), with a 12% share of total exports. It was followed by Italy, with a 9.3% share.

In Germany, bearing exports declined by an average annual rate of -2.3% over the period from 2013-2024. The remaining exporting countries recorded the following average annual rates of exports growth: France (-4.3% per year) and Italy (-3.4% per year).

In 2024, the export price in the European Union amounted to $21,325 per ton, rising by 7.6% against the previous year. Over the last eleven-year period, it increased at an average annual rate of +1.4%. The pace of growth was the most pronounced in 2023 an increase of 13% against the previous year. The level of export peaked in 2024 and is likely to see steady growth in years to come.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Germany ($29,046 per ton), while Spain ($10,453 per ton) was amongst the lowest.

From 2013 to 2024, the most notable rate of growth in terms of prices was attained by Austria (+3.7%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform

This report provides an in-depth analysis of the bearing market in the EU. 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.

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

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