Africa: Roller Bearing Market 2022

Roller Bearing Market Size in Africa

The African roller bearing market stood at $X in 2021, approximately equating the previous year. The total consumption indicated a buoyant increase from 2012 to 2021: its value increased at an average annual rate of +7.4% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +19.0% against 2015 indices. Over the period under review, the market hit record highs in 2021 and is likely to see steady growth in the immediate term.

Roller Bearing Production in Africa

In value terms, roller bearing production contracted modestly to $X in 2021 estimated in export price. Overall, production recorded prominent growth. The pace of growth appeared the most rapid in 2014 with an increase of 30%. The level of production peaked at $X in 2020, and then dropped modestly in the following year.

Roller Bearing Exports

Exports in Africa

In 2021, shipments abroad of roller bearings increased by 16% to X tons, rising for the second year in a row after five years of decline. Over the period under review, exports, however, recorded a deep contraction. The most prominent rate of growth was recorded in 2014 when exports increased by 28%. Over the period under review, the exports reached the maximum at X tons in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

In value terms, roller bearing exports rose markedly to $X in 2021. In general, exports, however, faced a deep reduction. The growth pace was the most rapid in 2014 with an increase of 16%. Over the period under review, the exports reached the maximum at $X in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

Exports by Country

South Africa was the largest exporting country with an export of around X tons, which reached 62% of total exports. Nigeria (X tons) ranks second in terms of the total exports with a 10% share, followed by Namibia (8%). Morocco (X tons), Zambia (X tons), Burkina Faso (X tons), Angola (X tons) and Tunisia (X tons) took a little share of total exports.

Exports from South Africa decreased at an average annual rate of -18.6% from 2012 to 2021. At the same time, Burkina Faso (+120.8%), Tunisia (+29.4%), Nigeria (+28.8%), Angola (+19.9%) and Morocco (+9.8%) displayed positive paces of growth. Moreover, Burkina Faso emerged as the fastest-growing exporter exported in Africa, with a CAGR of +120.8% from 2012-2021. By contrast, Namibia (-1.0%) and Zambia (-6.3%) illustrated a downward trend over the same period. While the share of Nigeria (+9.8 p.p.), Namibia (+6 p.p.), Morocco (+3.3 p.p.), Burkina Faso (+1.9 p.p.), Angola (+1.8 p.p.) and Zambia (+1.7 p.p.) increased significantly in terms of the total exports from 2012-2021, the share of South Africa (-30.5 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, South Africa ($X) remains the largest roller bearing supplier in Africa, comprising 80% of total exports. The second position in the ranking was held by Zambia ($X), with a 3.1% share of total exports. It was followed by Nigeria, with a 2.2% share.

In South Africa, roller bearing exports shrank by an average annual rate of -12.4% over the period from 2012-2021. In the other countries, the average annual rates were as follows: Zambia (-3.9% per year) and Nigeria (+8.8% per year).

Export Prices by Country

In 2021, the export price in Africa amounted to $X per ton, reducing by -6.5% against the previous year. Export price indicated pronounced growth from 2012 to 2021: its price increased at an average annual rate of +4.5% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, roller bearing export price decreased by -12.3% against 2018 indices. The growth pace was the most rapid in 2017 when the export price increased by 47%. Over the period under review, the export prices hit record highs at $X per ton in 2018; however, from 2019 to 2021, the export prices failed to regain momentum.

Prices varied noticeably country of origin: the country with the highest price was South Africa ($X per ton), while Namibia ($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 (+7.5%), while the other leaders experienced more modest paces of growth.

Roller Bearing Imports

Imports in Africa

In 2021, purchases abroad of roller bearings increased by 14% to X tons, rising for the second year in a row after two years of decline. Overall, imports continue to indicate a relatively flat trend pattern. The volume of import peaked at X tons in 2015; however, from 2016 to 2021, imports failed to regain momentum.

In value terms, roller bearing imports surged to $X in 2021. In general, imports, however, saw a pronounced setback. Over the period under review, imports attained the maximum at $X in 2012; however, from 2013 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, Tanzania (X tons) and Nigeria (X tons) were the key importers of roller bearings in Africa, together creating 36% of total imports. Zimbabwe (X tons) took an 8.4% share (based on physical terms) of total imports, which put it in second place, followed by Angola (8.2%), Kenya (4.8%) and South Africa (4.6%). The following importers - Algeria (X tons), Democratic Republic of the Congo (X tons), Ghana (X tons), Ethiopia (X tons), Morocco (X tons), Zambia (X tons) and Botswana (X tons) - together made up 20% of total imports.

From 2012 to 2021, the biggest increases were in Nigeria (with a CAGR of +24.3%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest roller bearing importing markets in Africa were Nigeria ($X), South Africa ($X) and Tanzania ($X), together accounting for 35% of total imports. These countries were followed by Algeria, Angola, Zimbabwe, Democratic Republic of the Congo, Kenya, Ethiopia, Morocco, Zambia, Ghana and Botswana, which together accounted for a further 41%.

Kenya, with a CAGR of +10.2%, recorded the highest rates of growth with regard to the value of imports, among the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the import price in Africa amounted to $X per ton, increasing by 6.6% against the previous year. In general, the import price, however, recorded a perceptible decline. Over the period under review, import prices hit record highs at $X per ton in 2012; however, from 2013 to 2021, import prices failed to regain momentum.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Ethiopia (+6.7%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :