Africa: Ball Bearing Parts Market 2022

Ball Bearing Parts Market Size in Africa

The African ball bearing parts market rose sharply to $X in 2021, with an increase of 6.1% against the previous year. The total consumption indicated a temperate expansion from 2012 to 2021: its value increased at an average annual rate of +4.9% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +57.5% against 2014 indices. The level of consumption peaked in 2021 and is likely to see steady growth in the near future.

Ball Bearing Parts Production in Africa

In value terms, ball bearing parts production contracted modestly to $X in 2021 estimated in export price. The total production indicated a buoyant expansion from 2012 to 2021: its value increased at an average annual rate of +6.2% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production increased by +79.9% against 2013 indices. The pace of growth was the most pronounced in 2019 with an increase of 20% against the previous year. Over the period under review, production hit record highs at $X in 2020, and then shrank slightly in the following year.

Ball Bearing Parts Exports

Exports in Africa

In 2021, shipments abroad of parts of ball or roller bearings increased by 25% to X tons, rising for the second consecutive year after two years of decline. Overall, exports, however, saw a perceptible contraction. The growth pace was the most rapid in 2020 with an increase of 36%. Over the period under review, the exports attained the maximum at X tons in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

In value terms, ball bearing parts exports rose markedly to $X in 2021. Over the period under review, exports, however, saw a perceptible decrease. The most prominent rate of growth was recorded in 2020 when exports increased by 55%. The level of export peaked at $X in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

Exports by Country

South Africa prevails in exports structure, accounting for X tons, which was near 91% of total exports in 2021. Nigeria (X tons) held a little share of total exports.

From 2012 to 2021, average annual rates of growth with regard to ball bearing parts exports from South Africa stood at -4.2%. At the same time, Nigeria (+20.7%) displayed positive paces of growth. Moreover, Nigeria emerged as the fastest-growing exporter exported in Africa, with a CAGR of +20.7% from 2012-2021. From 2012 to 2021, the share of Nigeria increased by +2 percentage points, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, South Africa ($X) remains the largest ball bearing parts supplier in Africa, comprising 92% of total exports. The second position in the ranking was taken by Nigeria ($X), with a 0.6% share of total exports.

From 2012 to 2021, the average annual growth rate of value in South Africa stood at -3.8%.

Export Prices by Country

The export price in Africa stood at $X per ton in 2021, falling by -7.8% against the previous year. In general, the export price, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 an increase of 14% against the previous year. The level of export peaked at $X per ton in 2014; however, from 2015 to 2021, the export prices remained at a lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2021, the country with the highest price was South Africa ($X per ton), while Nigeria stood at $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by South Africa (+0.4%).

Ball Bearing Parts Imports

Imports in Africa

After two years of decline, overseas purchases of parts of ball or roller bearings increased by 82% to X tons in 2021. Total imports indicated measured growth from 2012 to 2021: its volume increased at an average annual rate of +3.4% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, ball bearing parts imports skyrocketed to $X in 2021. Over the period under review, imports, however, continue to indicate a slight decline. The level of import peaked at $X in 2012; however, from 2013 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, Nigeria (X tons) was the largest importer of parts of ball or roller bearings, constituting 50% of total imports. South Africa (X tons) ranks second in terms of the total imports with a 20% share, followed by Morocco (4.9%). Tanzania (X tons) took a little share of total imports.

Nigeria was also the fastest-growing in terms of the parts of ball or roller bearings imports, with a CAGR of +43.1% from 2012 to 2021. At the same time, Tanzania (+16.7%) and Morocco (+11.7%) displayed positive paces of growth. By contrast, South Africa (-9.1%) illustrated a downward trend over the same period. Nigeria (+48 p.p.), Morocco (+2.5 p.p.) and Tanzania (+2.1 p.p.) significantly strengthened its position in terms of the total imports, while South Africa saw its share reduced by -44.1% from 2012 to 2021, respectively.

In value terms, South Africa ($X), Nigeria ($X) and Morocco ($X) appeared to be the countries with the highest levels of imports in 2021, with a combined 60% share of total imports.

In terms of the main importing countries, Nigeria, with a CAGR of +20.3%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in Africa stood at $X per ton in 2021, dropping by -28.8% against the previous year. In general, the import price recorded a noticeable shrinkage. The pace of growth appeared the most rapid in 2014 an increase of 18%. As a result, import price reached the peak level of $X per ton. From 2015 to 2021, the import prices remained at a somewhat lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2021, the country with the highest price was Morocco ($X per ton), while Nigeria ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by South Africa (+3.1%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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