Ethiopia: Market for Bearing Housings Incorporating Ball Or Roller Bearings 2024

Market Size for Bearing Housings Incorporating Ball Or Roller Bearings in Ethiopia

In 2022, the Ethiopian market for bearing housings incorporating ball or roller bearings was finally on the rise to reach $X after two years of decline. Overall, consumption saw a resilient increase. Over the period under review, the market attained the peak level at $X in 2014; however, from 2015 to 2022, consumption remained at a lower figure.

Exports of Bearing Housings Incorporating Ball Or Roller Bearings

Exports from Ethiopia

In 2022, the amount of bearing housings incorporating ball or roller bearings exported from Ethiopia soared to X kg, picking up by 598% on the year before. In general, exports showed a relatively flat trend pattern. The growth pace was the most rapid in 2018 when exports increased by 1,908% against the previous year. As a result, the exports attained the peak of X tons. From 2019 to 2022, the growth of the exports failed to regain momentum.

In value terms, bearing housing with ball bearing exports soared to $X in 2022. Over the period under review, exports posted prominent growth. The pace of growth appeared the most rapid in 2018 with an increase of 1,527%. As a result, the exports reached the peak of $X. From 2019 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

Nigeria (X kg) was the main destination for bearing housing with ball bearing exports from Ethiopia, accounting for a 92% share of total exports. Moreover, bearing housing with ball bearing exports to Nigeria exceeded the volume sent to the second major destination, the United Arab Emirates (X kg), more than tenfold.

From 2012 to 2022, the average annual rate of growth in terms of volume to Nigeria amounted to +8.4%.

In value terms, Nigeria ($X) remains the key foreign market for bearing housings incorporating ball or roller bearings exports from Ethiopia, comprising 98% of total exports. The second position in the ranking was taken by the United Arab Emirates ($X), with a 1.3% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value to Nigeria amounted to +17.2%.

Export Prices by Country

In 2022, the average export price for bearing housings incorporating ball or roller bearings amounted to $X per ton, increasing by 24% against the previous year. Overall, the export price saw resilient growth. The pace of growth was the most pronounced in 2013 when the average export price increased by 108% against the previous year. The export price peaked at $X per ton in 2014; however, from 2015 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Nigeria ($X per ton), while the average price for exports to the United Arab Emirates amounted to $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Belgium (+14.2%), while the prices for the other major destinations experienced mixed trend patterns.

Imports of Bearing Housings Incorporating Ball Or Roller Bearings

Imports into Ethiopia

In 2022, after two years of decline, there was significant growth in purchases abroad of bearing housings incorporating ball or roller bearings, when their volume increased by 8.4% to X tons. Overall, imports continue to indicate a buoyant expansion. The most prominent rate of growth was recorded in 2018 when imports increased by 540% against the previous year. Over the period under review, imports attained the maximum at X tons in 2014; however, from 2015 to 2022, imports failed to regain momentum.

In value terms, bearing housing with ball bearing imports amounted to $X in 2022. Over the period under review, imports recorded a buoyant increase. The pace of growth was the most pronounced in 2018 with an increase of 523%. Over the period under review, imports attained the peak figure at $X in 2014; however, from 2015 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, China (X tons) constituted the largest supplier of bearing housing with ball bearing to Ethiopia, with a 49% share of total imports. Moreover, bearing housing with ball bearing imports from China exceeded the figures recorded by the second-largest supplier, India (X tons), twofold. The third position in this ranking was held by Japan (X tons), with a 9.3% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China amounted to +15.6%. The remaining supplying countries recorded the following average annual rates of imports growth: India (+14.6% per year) and Japan (-0.2% per year).

In value terms, the largest bearing housing with ball bearing suppliers to Ethiopia were Japan ($X), China ($X) and the UK ($X), together comprising 49% of total imports.

The UK, with a CAGR of +27.7%, saw 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

The average import price for bearing housings incorporating ball or roller bearings stood at $X per ton in 2022, falling by -4.5% against the previous year. Over the period under review, the import price, however, recorded a relatively flat trend pattern. The growth pace was the most rapid in 2020 an increase of 47%. The import price peaked at $X per ton in 2021, and then fell slightly in the following year.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Japan ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Japan (+11.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform