Africa: Needle Roller Bearing Market 2024

Needle Roller Bearing Market Size in Africa

In 2022, the African needle roller bearing market increased by 6.9% to $X, rising for the fifth year in a row after two years of decline. The total consumption indicated moderate growth from 2012 to 2022: its value increased at an average annual rate of +4.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +103.0% against 2017 indices. Over the period under review, the market attained the maximum level in 2022 and is likely to see steady growth in the near future.

Needle Roller Bearing Production in Africa

In value terms, needle roller bearing production totaled $X in 2022 estimated in export price. Over the period under review, production, however, saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2018 when the production volume increased by 43% against the previous year. The level of production peaked at $X in 2020; however, from 2021 to 2022, production stood at a somewhat lower figure.

Needle Roller Bearing Exports

Exports in Africa

In 2022, needle roller bearing exports in Africa dropped to X tons, waning by -2.4% compared with 2021. Overall, exports, however, continue to indicate a buoyant expansion. The most prominent rate of growth was recorded in 2015 with an increase of 73%. Over the period under review, the exports attained the maximum at X tons in 2018; however, from 2019 to 2022, the exports stood at a somewhat lower figure.

In value terms, needle roller bearing exports fell to $X in 2022. Over the period under review, exports, however, continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 with an increase of 42%. The level of export peaked at $X in 2018; however, from 2019 to 2022, the exports failed to regain momentum.

Exports by Country

South Africa prevails in exports structure, resulting at X tons, which was approx. 87% of total exports in 2022. Sierra Leone (X kg) and Democratic Republic of the Congo (X kg) held a minor share of total exports.

Exports from South Africa increased at an average annual rate of +10.7% from 2012 to 2022. At the same time, Democratic Republic of the Congo (+58.0%) and Sierra Leone (+15.3%) displayed positive paces of growth. Moreover, Democratic Republic of the Congo emerged as the fastest-growing exporter exported in Africa, with a CAGR of +58.0% from 2012-2022. South Africa (+29 p.p.), Sierra Leone (+2.2 p.p.) and Democratic Republic of the Congo (+1.5 p.p.) significantly strengthened its position in terms of the total exports, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, South Africa ($X) remains the largest needle roller bearing supplier in Africa, comprising 85% of total exports. The second position in the ranking was held by Sierra Leone ($X), with a 4.2% share of total exports.

From 2012 to 2022, the average annual growth rate of value in South Africa stood at +1.3%. The remaining exporting countries recorded the following average annual rates of exports growth: Sierra Leone (+4.5% per year) and Democratic Republic of the Congo (+63.1% per year).

Export Prices by Country

In 2022, the export price in Africa amounted to $X per ton, growing by 1.6% against the previous year. Over the period under review, the export price, however, saw a abrupt descent. The pace of growth was the most pronounced in 2017 an increase of 18%. The level of export peaked at $X per ton in 2014; however, from 2015 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Democratic Republic of the Congo ($X per ton), while South Africa ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Democratic Republic of the Congo (+3.2%), while the other leaders experienced a decline in the export price figures.

Needle Roller Bearing Imports

Imports in Africa

For the sixth year in a row, Africa recorded growth in overseas purchases of needle roller bearings, which increased by 9.6% to X tons in 2022. Over the period under review, imports recorded a significant increase. The most prominent rate of growth was recorded in 2021 when imports increased by 240% against the previous year. The volume of import peaked in 2022 and is likely to see steady growth in the near future.

In value terms, needle roller bearing imports soared to $X in 2022. In general, imports continue to indicate strong growth. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

Nigeria prevails in imports structure, finishing at X tons, which was approx. 84% of total imports in 2022. It was distantly followed by South Africa (X tons), creating a 6.8% share of total imports. The following importers - Tanzania (X tons) and Algeria (X tons) - each amounted to a 3.6% share of total imports.

Nigeria was also the fastest-growing in terms of the needle roller bearings imports, with a CAGR of +58.6% from 2012 to 2022. At the same time, Tanzania (+11.1%) and Algeria (+4.2%) displayed positive paces of growth. South Africa experienced a relatively flat trend pattern. Nigeria (+79 p.p.) significantly strengthened its position in terms of the total imports, while Tanzania, Algeria and South Africa saw its share reduced by -2.2%, -5.5% and -39.7% from 2012 to 2022, respectively.

In value terms, Nigeria ($X) constitutes the largest market for imported needle roller bearings in Africa, comprising 78% of total imports. The second position in the ranking was taken by South Africa ($X), with an 11% share of total imports. It was followed by Algeria, with a 1.4% share.

In Nigeria, needle roller bearing imports increased at an average annual rate of +55.4% over the period from 2012-2022. In the other countries, the average annual rates were as follows: South Africa (-1.7% per year) and Algeria (-2.6% per year).

Import Prices by Country

The import price in Africa stood at $X per ton in 2022, growing by 85% against the previous year. Overall, the import price, however, recorded a pronounced shrinkage. Over the period under review, import prices reached the maximum at $X per ton in 2014; however, from 2015 to 2022, import prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was South Africa ($X per ton), while Tanzania ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by South Africa (-0.8%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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