Bearings market in Spain

Earlier Report Observations

The Spanish bearings market volume experienced significant volatility between 2018 and 2024. It began the period at 91.8 thousand tons in 2018 before contracting sharply to 52.9 thousand tons in 2019, a decline of over 40%. This was followed by a gradual recovery in 2020, when volume reached 55.6 thousand tons.

A strong rebound occurred in 2021, with market volume surging to 78.4 thousand tons, nearly matching the 2018 level. However, this growth reversed in the following years, as volume fell to 69.3 thousand tons in 2022 and further to 62.5 thousand tons in 2024. In value terms, the market followed a similar trajectory, peaking at $742.4 million in 2021 after a low of $521.5 million in 2019.

By 2024, the market value stood at $608.6 million, reflecting a modest decrease from 2022 but remaining above the 2019 trough. The overall period was marked by a pronounced cycle of contraction, recovery, and subsequent decline in both volume and value.

Production bearings in Spain

In value, 2017-2020, M $ US

Spain's bearings production declined for the third consecutive year. In 2020, output was valued at 297.2 million US dollars, marking an 8.2% decrease compared to 2019. From 2017 to 2020, production fell by 14.9%, which translates to an average annual decline of 5.2%.

Annual dynamics of production in Spain in value, 2017-2020, M $ US

In kind, 2017-2020, t

Spain's bearings production volume declined for the second consecutive year. In 2020, 31 434 tonnes were produced, representing a significant 11.8% drop from 2019. Over the 2017-2020 period, production decreased by 19.8%, with a compound annual growth rate of -7.1%. The highest volume was recorded in 2018 at 63 728 tonnes, which saw the largest increase of 62.6%. In 2019, production experienced the steepest decline of 44.1%.

Annual dynamics of production in Spain in kind, 2017-2020, t

Exports bearings from Spain

Exports in kind, t

After two years of growth, Spain's bearings exports declined. In 2020, export volume totaled 18 233 tonnes, a 14.9% decrease from the previous year. From 2017 to 2020, exports increased by 24.5%, averaging 7.6% annually. The peak was in 2019 at 21 425 tonnes, following the largest increase of 24.2% in 2018.

Annual dynamics of product's exports from Spain in kind, 2017-2020, t

From 2017 to 2020, Spain's bearings exports were distributed across a wide range of buyers. France accounted for 21.7% of exports in volume, Denmark for 18.3%, and Germany for 9.9%, together making up 49.9% of the total. Many other countries held smaller but notable shares.

Structure of product's exports in kind by countries, 2017-2020

World map of product's exports from Spain in kind, 2017-2020

Exports in value, M $ US

After two years of growth, Spain's bearings exports declined. In 2020, exports were valued at 176.7 million US dollars, showing a sharp 16.6% drop from 2019. Between 2017 and 2020, exports rose by 10.5%, with an average annual increase of 3.4%. The highest value was in 2019 at 211.8 million US dollars, after the largest increase of 27.2% in 2018.

Annual dynamics of product's exports from Spain in value, 2017-2020, M $ US

During 2017-2020, France was the top buyer of Spanish bearings in value terms at 24.6%, followed by Germany at 11.9% and Denmark at 10.5%. Together, they accounted for 46.9% of total exports, while the remaining 53.1% was spread among numerous other partners.

Structure of product's exports in value by countries, 2017-2020

World map of product's exports from Spain in value, 2017-2020

Imports bearings to Spain

Imports in kind, t

Spain imported 42 365 tonnes of bearings in 2020, a 9.5% increase from 2019. From 2017 to 2020, imports grew by 2.5%, averaging 0.8% per year. The lowest volume was in 2019 at 38 684 tonnes, which saw the largest decline of 16.3%. The highest was in 2018 at 46 218 tonnes, with the largest increase of 11.9%.

Annual dynamics of product's imports to Spain in kind, 2017-2020, t

From 2017 to 2020, the main sources for Spain's bearings imports by volume were France at 22.7%, Germany at 17.4%, and China at 14.6%. Combined, these three countries represented 54.6% of total imports.

Structure of product's imports in kind by countries, 2017-2020

World map of product's imports to Spain in kind, 2017-2020

Imports in value, M $ US

Spain imported approximately 465.5 million US dollars worth of bearings in 2020, a strong 13.7% increase compared to 2019. Over the 2017-2020 period, imports rose by 24.4%, with a compound annual growth rate of 7.6%. The largest decline occurred in 2019 at 6.7%, while the largest increase was in 2018 at 17.3%.

Annual dynamics of product's imports to Spain in value, 2017-2020, M $ US

From 2017 to 2020, Germany was the leading supplier of bearings to Spain in value terms at 30.6%, followed by France at 16.4% and China at 9.4%. Together, they made up 56.4% of total imports.

Structure of product's imports in value by countries, 2017-2020

World map of product's imports to Spain in value, 2017-2020