Industry revenue of »manufacture of bearings, gears, gearing« in Slovakia 2011-2023

Revenues of the Slovakian bearings and gear manufacturing industry are projected to grow from 1.3 billion U.S. dollars in 2011 to over 2.2 billion U.S. dollars by 2023. Key drivers include the availability of advanced machinery, favorable manufacturing conditions, a skilled labor force and availability of low cost raw materials such as steel and aluminium, which are used to make bearings and gears. Additionally, growth in motor vehicles manufacturing, and the construction sector in the country have ensured the demand for bearing and gears remains robust, as they are amongst the largest buyers. ZVL Slovakia is one of the biggest manufacturer of bearings in the country.

Over the past few years, the industry has also benefited from a growth in the number of exports. According to data from trendeconomy.com, exports of roller bearings have grown from 704 million U.S. dollars in 2015 to 812 million U.S. dollars in 2019. Germany, followed by Czech Republic, France, Italy and Hungary are the leading destinations.

Industry revenue of »manufacture of bearings, gears, gearing« in Slovakia from 2011 to 2023

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Sources

Supplementary notes

* Estimate - This also applies for past years as data provided by statistical institutions often is not available for more recent years.

Currency conversion factor: (EUR -> USD) = 1.186

The industry classification is based on the NACE Rev.2 - system in Slovakia. The industry “manufacture of bearings, gears, gearing and driving elements“ has the code “C2815“.

Details on the methodology can be found here.

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