Egypt: Tools For Bearing Market 2024

Tools For Bearing Market Size in Egypt

In 2022, the Egyptian tools for bearing market increased by 164% to $X, rising for the second year in a row after two years of decline. Overall, consumption recorded a prominent increase. Over the period under review, the market hit record highs at $X in 2018; however, from 2019 to 2022, consumption stood at a somewhat lower figure.

Tools For Bearing Exports

Exports from Egypt

In 2022, approx. X kg of balls, needles and rollers for ball or roller bearings were exported from Egypt; remaining constant against 2021 figures. In general, exports faced a precipitous decrease. The pace of growth appeared the most rapid in 2021 with an increase of 62% against the previous year. The exports peaked at X tons in 2014; however, from 2015 to 2022, the exports failed to regain momentum.

In value terms, tools for bearing exports expanded notably to $X in 2022. Overall, exports faced a dramatic curtailment. The growth pace was the most rapid in 2018 with an increase of 177%. Over the period under review, the exports hit record highs at $X in 2015; however, from 2016 to 2022, the exports failed to regain momentum.

Exports by Country

Italy (X kg) was the main destination for tools for bearing exports from Egypt, with a 57% share of total exports. Moreover, tools for bearing exports to Italy exceeded the volume sent to the second major destination, Ghana (X kg), twofold. The third position in this ranking was held by Algeria (X kg), with a 14% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Italy totaled -33.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Ghana (-10.4% per year) and Algeria (-27.4% per year).

In value terms, Algeria ($X) remains the key foreign market for balls, needles and rollers for ball or roller bearings exports from Egypt, comprising 61% of total exports. The second position in the ranking was taken by Italy ($X), with a 20% share of total exports. It was followed by Ghana, with an 18% share.

From 2012 to 2022, the average annual growth rate of value to Algeria totaled -5.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Italy (-24.2% per year) and Ghana (-2.1% per year).

Export Prices by Country

The average tools for bearing export price stood at $X per ton in 2022, growing by 12% against the previous year. Over the period under review, the export price continues to indicate a strong increase. The pace of growth appeared the most rapid in 2015 an increase of 241%. The export price peaked at $X per ton in 2020; however, from 2021 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Algeria ($X per ton), while the average price for exports to Sudan ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Algeria (+29.8%), while the prices for the other major destinations experienced more modest paces of growth.

Tools For Bearing Imports

Imports into Egypt

In 2022, purchases abroad of balls, needles and rollers for ball or roller bearings increased by 173% to X tons, rising for the second year in a row after two years of decline. Overall, imports continue to indicate a buoyant increase. The most prominent rate of growth was recorded in 2017 with an increase of 208%. Over the period under review, imports reached the maximum at X tons in 2018; however, from 2019 to 2022, imports remained at a lower figure.

In value terms, tools for bearing imports soared to $X in 2022. Over the period under review, imports showed a buoyant expansion. The most prominent rate of growth was recorded in 2016 with an increase of 170% against the previous year. Imports peaked at $X in 2017; however, from 2018 to 2022, imports failed to regain momentum.

Imports by Country

China (X tons), India (X tons) and South Korea (X tons) were the main suppliers of tools for bearing imports to Egypt, together accounting for 86% of total imports.

From 2012 to 2022, the biggest increases were recorded for South Korea (with a CAGR of +77.0%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest tools for bearing suppliers to Egypt were China ($X), India ($X) and South Korea ($X), together accounting for 86% of total imports.

South Korea, with a CAGR of +66.9%, recorded the highest rates of growth with regard to the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average tools for bearing import price amounted to $X per ton, falling by -6.7% against the previous year. In general, the import price showed a noticeable contraction. The most prominent rate of growth was recorded in 2020 when the average import price increased by 63% against the previous year. Over the period under review, average import prices hit record highs at $X per ton in 2014; however, from 2015 to 2022, import prices stood at a somewhat lower figure.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the highest price was recorded for prices from the United States ($X per ton) and India ($X per ton), while the price for Germany ($X per ton) and Taiwan (Chinese) ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (+1.7%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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