Ethiopia: Roller Bearing Market 2024

Roller Bearing Market Size in Ethiopia

The Ethiopian roller bearing market reached $X in 2022, with an increase of 15% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). In general, consumption, however, recorded a relatively flat trend pattern. Over the period under review, the market hit record highs at $X in 2014; however, from 2015 to 2022, consumption remained at a lower figure.

Roller Bearing Exports

Exports from Ethiopia

In 2022, approx. X kg of roller bearings were exported from Ethiopia; reducing by -28.8% against 2021. Over the period under review, exports, however, continue to indicate a significant increase. The most prominent rate of growth was recorded in 2013 with an increase of 2,546% against the previous year. The Ethiopia exports peaked at X tons in 2014; however, from 2015 to 2022, the exports remained at a lower figure.

In value terms, roller bearing exports reduced sharply to $X in 2022. In general, exports, however, showed prominent growth. The pace of growth appeared the most rapid in 2017 with an increase of 1,815% against the previous year. Over the period under review, the exports hit record highs at $X in 2014; however, from 2015 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

China represented the largest exporting country with an export of around X tons, which amounted to 43% of total exports. 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.

Exports from China increased at an average annual rate of +22.6% from 2012 to 2022. 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. China (+37 p.p.) and Indonesia (+2.2 p.p.) significantly strengthened its position in terms of the global exports, while Italy, Germany, France, Romania, Hong Kong SAR, South Korea, the United States and Austria saw its share reduced by -1.5%, -2.6%, -2.7%, -4.9%, -6%, -6.3%, -6.4% and -7.2% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X), Singapore ($X) and Germany ($X) were the countries with the highest levels of exports in 2022, together comprising 45% of total exports. Italy, the United States, France, Hong Kong SAR, Slovakia, South Korea, Austria, Turkey, Indonesia and Romania lagged somewhat behind, together comprising a further 31%.

Indonesia, with a CAGR of +16.1%, recorded the highest rates of growth with regard to the value of exports, among 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 Ethiopia stood at $X per ton in 2022, with an increase of 7.1% against the previous year. Overall, the export price, however, continues to indicate a abrupt decline. The growth pace was the most rapid in 2018 an increase of 70% against the previous year. Over the period under review, the export prices reached the maximum at $X per ton in 2012; however, from 2013 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 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 Ethiopia

In 2022, the amount of roller bearings imported into Ethiopia was estimated at X tons, increasing by 14% on the previous year's figure. Overall, imports, however, saw a noticeable decrease. The most prominent rate of growth was recorded in 2017 when imports increased by 78%. Over the period under review, imports reached the peak figure at X tons in 2014; however, from 2015 to 2022, imports failed to regain momentum.

In value terms, roller bearing imports reached $X in 2022. Over the period under review, imports posted a slight increase. The most prominent rate of growth was recorded in 2014 when imports increased by 55%. As a result, imports reached the peak of $X. From 2015 to 2022, the growth of imports failed to regain momentum.

Imports by Country

Thailand (X tons) and Indonesia (X tons) represented roughly 32% of total imports in 2022. It was distantly followed by Germany (X tons), making up a 6.2% share of total imports. The following importers - 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) - together made up 25% of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the key 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, Indonesia ($X), Germany ($X) and India ($X) were the countries with the highest levels of imports in 2022, with a combined 24% share of total imports.

Among the main importing countries, Indonesia, with a CAGR of +4.2%, recorded the highest rates of growth with regard to 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, almost unchanged from the previous year. Over the period under review, import price indicated a tangible expansion from 2012 to 2022: its price increased at an average annual rate of +3.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, roller bearing import price increased by +56.2% against 2020 indices. The most prominent rate of growth was recorded in 2016 when the import price increased by 58%. Over the period under review, import prices hit record highs in 2022 and is likely to see steady growth in the near future.

There were significant differences in the average prices amongst the major importing countries. In 2022, 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