In 2023, Germany led the European sold production of bearings, gears, gearing, and driving elements with a strong 55.59% market share, showing a minor increase of 0.98%. Italy and France followed with 16.14% and 6.98% shares, respectively, although both countries experienced slight declines. Notably, Slovakia and Spain witnessed growth with increases of 2.12% and 1.6%, respectively. Scandinavia and Eastern Europe showed mixed trends, with Sweden achieving a significant upswing of 9.84%, juxtaposed against Norway’s substantial contraction of -40.65%. Estonia displayed remarkable growth with a year-on-year surge of 68.19% albeit from a low base.
Looking ahead, European markets for production of bearings, gears, and related elements may witness continued USG (Uneven Surge and Growth) stemming from economic fluctuations. Key regions like Germany are expected to sustain their dominance, while Scandinavian countries could capitalize on technological advancements. Central and Eastern Europe might see increased investment due to cost advantages, yet they must navigate political and economic uncertainties to maintain growth trajectories.
Top countries in Sold Production of Bearings, Gears, Gearing and Driving Elements Share by Country (Euros)
| # | 10 Countries | Percent | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 Germany | 55.59 | 2023 | +4.82% | +0.98% | View data |
| 2 | 2 Italy | 16.14 | 2023 | -1.19% | -3.13% | View data |
| 3 | 3 France | 6.98 | 2023 | +5.45% | -0.27% | View data |
| 4 | 4 Slovakia | 3.62 | 2023 | +2.25% | +2.12% | View data |
| 5 | 5 Spain | 2.77 | 2023 | +5.03% | +1.6% | View data |
| 6 | 6 United Kingdom | 1.97 | 2023 | -4.12% | -2.85% | View data |
| 7 | 7 Belgium | 1.82 | 2023 | +0.92% | +3.53% | View data |
| 8 | 8 Finland | 1.77 | 2023 | +1.8% | +6.4% | View data |
| 9 | 9 Poland | 1.64 | 2023 | +2.1% | +1.11% | View data |
| 10 | 10 Romania | 1.53 | 2023 | +3.9% | -0.96% | View data |
