Angola: Roller Bearing Market 2024

Roller Bearing Market Size in Angola

In 2022, the Angolan roller bearing market increased by 5.9% to $X, rising for the second consecutive year after two years of decline. Over the period under review, consumption, however, continues to indicate a abrupt setback. Angola consumption peaked at $X in 2012; however, from 2013 to 2022, consumption stood at a somewhat lower figure.

Roller Bearing Exports

Exports from Angola

In 2022, overseas shipments of roller bearings decreased by -3.7% to X tons, falling for the second year in a row after two years of growth. In general, exports showed a relatively flat trend pattern. The growth pace was the most rapid in 2014 with an increase of 233% against the previous year. Over the period under review, the exports hit record highs at X tons in 2015; however, from 2016 to 2022, the exports stood at a somewhat lower figure.

In value terms, roller bearing exports soared to $X in 2022. Overall, exports, however, saw a remarkable increase. The most prominent rate of growth was recorded in 2014 when exports increased by 478% against the previous year. Over the period under review, the exports hit record highs at $X in 2016; however, from 2017 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

China was the major exporter of roller bearings in the world, with the volume of exports reaching X tons, which was near 43% of total exports in 2022. Singapore (X tons) ranks second in terms of the total exports with a 9.7% share, followed by Germany (7.2%), France (6.9%), Slovakia (5.4%) and the United States (0.8%). Italy (X tons), South Korea (X tons), Indonesia (X tons), Hong Kong SAR (X tons), Turkey (X tons), Austria (X tons) and Romania (X tons) followed a long way behind the leaders.

From 2012 to 2022, average annual rates of growth with regard to roller bearing exports from China stood at +22.6%. At the same time, Indonesia (+35.7%), Turkey (+8.5%), Singapore (+1.2%) and Slovakia (+1.1%) displayed positive paces of growth. Moreover, Indonesia emerged as the fastest-growing exporter exported in the world, with a CAGR of +35.7% from 2012-2022. By contrast, Italy (-1.9%), Germany (-2.0%), France (-2.2%), South Korea (-9.7%), Hong Kong SAR (-13.7%), the United States (-18.4%), Austria (-22.3%) and Romania (-22.4%) illustrated a downward trend over the same period. While the share of China (+37 p.p.) and Indonesia (+2.2 p.p.) increased significantly in terms of the global exports from 2012-2022, the share of Italy (-1.5 p.p.), Germany (-2.6 p.p.), France (-2.7 p.p.), Romania (-4.9 p.p.), Hong Kong SAR (-6 p.p.), South Korea (-6.3 p.p.), the United States (-6.4 p.p.) and Austria (-7.2 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest roller bearing supplying countries from Angola were China ($X), Singapore ($X) and Germany ($X), with a combined 45% share of total exports. Italy, the United States, France, Hong Kong SAR, Slovakia, South Korea, Austria, Turkey, Indonesia and Romania lagged somewhat behind, together accounting for a further 31%.

Indonesia, with a CAGR of +16.1%, saw the highest growth rate of the value of exports, in terms of the main exporting countries over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The export price in Angola stood at $X per ton in 2022, growing by 27% against the previous year. In general, the export price continues to indicate a strong increase. The pace of growth was the most pronounced in 2014 an increase of 74% against the previous year. The Angola export price peaked at $X per ton in 2016; however, from 2017 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was the United States ($X per ton), while Indonesia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+16.3%), while the other leaders experienced more modest paces of growth.

Roller Bearing Imports

Imports into Angola

Roller bearing imports into Angola skyrocketed to X tons in 2022, increasing by 15% compared with the year before. In general, imports, however, recorded a noticeable decrease. The pace of growth was the most pronounced in 2016 with an increase of 152%. Over the period under review, imports hit record highs at X tons in 2012; however, from 2013 to 2022, imports remained at a lower figure.

In value terms, roller bearing imports declined slightly to $X in 2022. Overall, imports, however, faced a deep slump. The most prominent rate of growth was recorded in 2016 when imports increased by 255% against the previous year. Angola imports peaked at $X in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

Imports by Country

Thailand (X tons) and Indonesia (X tons) represented the major importers of roller bearings in 2022, amounting to approx. 17% and 15% of total imports, respectively. It was distantly followed by Germany (X tons), generating a 6.2% share of total imports. India (X tons), Italy (X tons), Canada (X tons), Malaysia (X tons), Spain (X tons), South Korea (X tons), France (X tons), Singapore (X tons), Poland (X tons) and Austria (X tons) took a relatively small share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by Thailand (with a CAGR of +18.5%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest roller bearing importing markets into Angola were Indonesia ($X), Germany ($X) and India ($X), together accounting for 24% of total imports.

Indonesia, with a CAGR of +4.2%, saw the highest rates of growth with regard to the value of imports, in terms of 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

The import price in Angola stood at $X per ton in 2022, dropping by -14% against the previous year. Overall, the import price saw a deep reduction. The pace of growth appeared the most rapid in 2016 an increase of 41%. Angola import price peaked at $X per ton in 2013; however, from 2014 to 2022, import prices remained at a lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by France (+6.9%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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