Ethiopia: Cylindrical Roller Bearing Market 2024

Cylindrical Roller Bearing Market Size in Ethiopia

In 2022, the Ethiopian cylindrical roller bearing market increased by 57% to $X, rising for the second year in a row after two years of decline. Overall, consumption posted a strong expansion. Ethiopia consumption peaked at $X in 2018; however, from 2019 to 2022, consumption failed to regain momentum.

Cylindrical Roller Bearing Exports

Exports from Ethiopia

In 2022, the amount of cylindrical roller bearings exported from Ethiopia fell to X kg, which is down by -6.9% against the previous year's figure. Over the period under review, exports, however, saw a resilient expansion. The pace of growth appeared the most rapid in 2016 with an increase of 188,833%. Over the period under review, the exports hit record highs at X tons in 2020; however, from 2021 to 2022, the exports failed to regain momentum.

In value terms, cylindrical roller bearing exports fell to $X in 2022. Overall, exports, however, continue to indicate significant growth. The most prominent rate of growth was recorded in 2016 with an increase of 300,418%. Over the period under review, the exports attained the maximum at $X in 2020; however, from 2021 to 2022, the exports remained at a lower figure.

Exports by Country

In 2022, Germany (X tons), China (X tons) and Japan (X tons) was the main exporter of cylindrical roller bearings in the world, generating 53% of total export. Romania (X tons) held the next position in the ranking, followed by Slovakia (X tons). All these countries together held approx. 13% share of total exports. Taiwan (Chinese) (X tons), Kazakhstan (X tons), Canada (X tons), Russia (X tons), Hong Kong SAR (X tons), Poland (X tons), France (X tons) and Italy (X tons) took a relatively small share of total exports.

From 2012 to 2022, the biggest increases were recorded for Taiwan (Chinese) (with a CAGR of +43.8%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X) remains the largest cylindrical roller bearing supplier from Ethiopia, comprising 27% of global exports. The second position in the ranking was held by Japan ($X), with an 11% share of global exports. It was followed by China, with an 8.9% share.

In Germany, cylindrical roller bearing exports remained relatively stable over the period from 2012-2022. In the other countries, the average annual rates were as follows: Japan (-0.3% per year) and China (+6.6% per year).

Export Prices by Country

The export price in Ethiopia stood at $X per ton in 2022, flattening at the previous year. Overall, the export price, however, saw strong growth. The most prominent rate of growth was recorded in 2019 an increase of 350%. As a result, the export price reached the peak level of $X per ton. From 2020 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was France ($X per ton), while Russia ($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 (+3.3%), while the other leaders experienced more modest paces of growth.

Cylindrical Roller Bearing Imports

Imports into Ethiopia

After three years of decline, supplies from abroad of cylindrical roller bearings increased by 77% to X tons in 2022. Overall, imports recorded a strong expansion. The pace of growth was the most pronounced in 2018 when imports increased by 338% against the previous year. As a result, imports attained the peak of X tons. From 2019 to 2022, the growth of imports remained at a lower figure.

In value terms, cylindrical roller bearing imports surged to $X in 2022. Over the period under review, imports enjoyed a temperate expansion. The pace of growth appeared the most rapid in 2013 when imports increased by 278%. Over the period under review, imports attained the maximum at $X in 2018; however, from 2019 to 2022, imports stood at a somewhat lower figure.

Imports by Country

The purchases of the three major importers of cylindrical roller bearings, namely China, Russia and Germany, represented more than third of total import. It was distantly followed by the United States (X tons), committing a 5.7% share of total imports. The following importers - Spain (X tons), Mexico (X tons), Italy (X tons), Brazil (X tons), Thailand (X tons), South Korea (X tons), Indonesia (X tons), Turkey (X tons) and the Czech Republic (X tons) - together made up 23% of total imports.

From 2012 to 2022, the biggest increases were recorded for Thailand (with a CAGR of +20.0%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest cylindrical roller bearing importing markets into Ethiopia were China ($X), Germany ($X) and the United States ($X), together accounting for 43% of total imports. Mexico, Italy, Brazil, Russia, South Korea, Spain, Indonesia, Turkey, the Czech Republic and Thailand lagged somewhat behind, together accounting for a further 23%.

In terms of the main importing countries, Spain, with a CAGR of +13.7%, saw 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 Ethiopia stood at $X per ton in 2022, falling by -27.5% against the previous year. Overall, the import price continues to indicate a drastic downturn. The pace of growth appeared the most rapid in 2020 when the import price increased by 84%. Over the period under review, import prices reached the peak figure at $X per ton in 2014; however, from 2015 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 the United States ($X per ton), while Russia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Mexico (+2.6%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform