Report Ghana - Ball Bearings - Market Analysis, Forecast, Size, Trends and Insights for 499$
Report Update Nov 1, 2024

Ghana - Ball Bearings - Market Analysis, Forecast, Size, Trends and Insights

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Ghana: Ball Bearing Market 2024

Ball Bearing Market Size in Ghana

The Ghanian ball bearing market soared to $X in 2021, growing by 35% 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 enjoyed strong growth. Ball bearing consumption peaked in 2021 and is likely to see gradual growth in years to come.

Ball Bearing Exports

Exports from Ghana

In 2021, approx. X kg of ball bearings were exported from Ghana; reducing by -72.9% on 2020 figures. Overall, exports showed a precipitous contraction. The pace of growth was the most pronounced in 2017 when exports increased by 475% against the previous year. The exports peaked at X tons in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

In value terms, ball bearing exports reduced rapidly to $X in 2021. In general, exports continue to indicate a sharp reduction. The pace of growth appeared the most rapid in 2017 when exports increased by 691% against the previous year. The exports peaked at $X in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Nigeria (X kg), Sweden (X kg) and Mali (X kg) were the main destinations of ball bearing exports from Ghana, with a combined 44% share of total exports. These countries were followed by Cote d'Ivoire, Niger, the UK, the Netherlands, Burkina Faso, Sierra Leone and Guinea, which together accounted for a further 44%.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Burkina Faso (with a CAGR of +3.2%), while the other leaders experienced a decline.

In value terms, the UK ($X), Mali ($X) and the Netherlands ($X) were the largest markets for ball bearing exported from Ghana worldwide, together accounting for 59% of total exports.

Among the main countries of destination, Mali, with a CAGR of +0.3%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced a decline.

Export Prices by Country

In 2021, the average ball bearing export price amounted to $X per ton, increasing by 67% against the previous year. Over the period under review, the export price continues to indicate a prominent increase. The growth pace was the most rapid in 2016 when the average export price increased by 122%. The export price peaked at $X per ton in 2017; however, from 2018 to 2021, the export prices failed to regain momentum.

There were significant differences in the average prices for the major export markets. In 2021, the country with the highest price was the Netherlands ($X per ton), while the average price for exports to Niger ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Mali (+24.0%), while the prices for the other major destinations experienced more modest paces of growth.

Ball Bearing Imports

Imports into Ghana

In 2021, overseas purchases of ball bearings increased by 39% to X tons, rising for the third consecutive year after three years of decline. Over the period under review, imports continue to indicate a resilient expansion. The most prominent rate of growth was recorded in 2020 with an increase of 235% against the previous year. Imports peaked in 2021 and are likely to see steady growth in the near future.

In value terms, ball bearing imports surged to $X in 2021. Overall, imports showed a measured expansion. The pace of growth was the most pronounced in 2015 when imports increased by 81% against the previous year. Over the period under review, imports reached the peak figure in 2021 and are likely to continue growth in the immediate term.

Imports by Country

In 2021, China (X tons) was the main supplier of ball bearing to Ghana, with a 93% share of total imports. It was followed by the United Arab Emirates (X tons), with a 2.6% share of total imports. Belgium (X tons) ranked third in terms of total imports with a 1.3% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from China stood at +63.6%. The remaining supplying countries recorded the following average annual rates of imports growth: the United Arab Emirates (-7.6% per year) and Belgium (-13.9% per year).

In value terms, China ($X) constituted the largest supplier of ball bearings to Ghana, comprising 69% of total imports. The second position in the ranking was held by Belgium ($X), with an 8.7% share of total imports. It was followed by the United Arab Emirates, with a 3.3% share.

From 2012 to 2021, the average annual rate of growth in terms of value from China stood at +70.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Belgium (-11.9% per year) and the United Arab Emirates (-12.9% per year).

Import Prices by Country

In 2021, the average ball bearing import price amounted to $X per ton, dropping by -9.7% against the previous year. In general, the import price saw a abrupt curtailment. The pace of growth appeared the most rapid in 2016 an increase of 29%. The import price peaked at $X per ton in 2012; however, from 2013 to 2021, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was the UK ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the UK (+31.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

The country with the largest volume of ball bearing consumption was China, comprising approx. 30% of total volume. Moreover, ball bearing consumption in China exceeded the figures recorded by the second-largest consumer, India, threefold. The third position in this ranking was occupied by the United States, with an 8.5% share.
China constituted the country with the largest volume of ball bearing production, accounting for 36% of total volume. Moreover, ball bearing production in China exceeded the figures recorded by the second-largest producer, India, threefold. Japan ranked third in terms of total production with a 10% share.
In value terms, the United Arab Emirates constituted the largest supplier of ball bearing to Ghana.
In value terms, the Netherlands emerged as the key foreign market for ball bearing exports from Ghana, comprising 83% of total exports. The second position in the ranking was occupied by South Africa, with a 9.7% share of total exports.
In 2020, the average ball bearing export price amounted to $7,661 per ton, increasing by 60% against the previous year.
In 2020, the average ball bearing import price amounted to $4,983 per ton, shrinking by -5.8% against the previous year.

This report provides an in-depth analysis of the ball bearing market in Ghana. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

  • Prodcom 28151030 - Ball bearings

Country coverage:

  • Ghana

Data coverage:

  • Market volume and value
  • Per Capita consumption
  • Forecast of the market dynamics in the medium term
  • Trade (exports and imports) in Ghana
  • Export and import prices
  • Market trends, drivers and restraints
  • Key market players and their profiles

Reasons to buy this report:

  • Take advantage of the latest data
  • Find deeper insights into current market developments
  • Discover vital success factors affecting the market

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

  1. How to diversify your business and benefit from new market opportunities
  2. How to load your idle production capacity
  3. How to boost your sales on overseas markets
  4. How to increase your profit margins
  5. How to make your supply chain more sustainable
  6. How to reduce your production and supply chain costs
  7. How to outsource production to other countries
  8. How to prepare your business for global expansion

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

  1. 1. INTRODUCTION

    Making Data-Driven Decisions to Grow Your Business

    1. REPORT DESCRIPTION
    2. RESEARCH METHODOLOGY AND AI PLATFORM
    3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
    4. GLOSSARY AND SPECIFIC TERMS
  2. 2. EXECUTIVE SUMMARY

    A Quick Overview of Market Performance

    1. KEY FINDINGS
    2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
  3. 3. MARKET OVERVIEW

    Understanding the Current State of The Market and Its Prospects

    1. MARKET SIZE
    2. MARKET STRUCTURE
    3. TRADE BALANCE
    4. PER CAPITA CONSUMPTION
    5. MARKET FORECAST TO 2030
  4. 4. MOST PROMISING PRODUCT

    Finding New Products to Diversify Your Business

    This Chapter is Available Only for the Professional Edition PRO
    1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
    2. BEST-SELLING PRODUCTS
    3. MOST CONSUMED PRODUCT
    4. MOST TRADED PRODUCT
    5. MOST PROFITABLE PRODUCT FOR EXPORT
  5. 5. MOST PROMISING SUPPLYING COUNTRIES

    Choosing the Best Countries to Establish Your Sustainable Supply Chain

    This Chapter is Available Only for the Professional Edition PRO
    1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
    2. TOP PRODUCING COUNTRIES
    3. TOP EXPORTING COUNTRIES
    4. LOW-COST EXPORTING COUNTRIES
  6. 6. MOST PROMISING OVERSEAS MARKETS

    Choosing the Best Countries to Boost Your Exports

    This Chapter is Available Only for the Professional Edition PRO
    1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
    2. TOP CONSUMING MARKETS
    3. UNSATURATED MARKETS
    4. TOP IMPORTING MARKETS
    5. MOST PROFITABLE MARKETS
  7. 7. PRODUCTION

    The Latest Trends and Insights into The Industry

    1. PRODUCTION VOLUME AND VALUE
  8. 8. IMPORTS

    The Largest Import Supplying Countries

    1. IMPORTS FROM 2012–2023
    2. IMPORTS BY COUNTRY
    3. IMPORT PRICES BY COUNTRY
  9. 9. EXPORTS

    The Largest Destinations for Exports

    1. EXPORTS FROM 2012–2023
    2. EXPORTS BY COUNTRY
    3. EXPORT PRICES BY COUNTRY
  10. 10. PROFILES OF MAJOR PRODUCERS

    The Largest Producers on The Market and Their Profiles

    This Chapter is Available Only for the Professional Edition PRO
  11. LIST OF TABLES

    1. Key Findings In 2023
    2. Market Volume, In Physical Terms, 2012–2023
    3. Market Value, 2012–2023
    4. Per Capita Consumption In 2012-2023
    5. Imports, In Physical Terms, By Country, 2012–2023
    6. Imports, In Value Terms, By Country, 2012–2023
    7. Import Prices, By Country Of Origin, 2012–2023
    8. Exports, In Physical Terms, By Country, 2012–2023
    9. Exports, In Value Terms, By Country, 2012–2023
    10. Export Prices, By Country Of Destination, 2012–2023
  12. LIST OF FIGURES

    1. Market Volume, In Physical Terms, 2012–2023
    2. Market Value, 2012–2023
    3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
    4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
    5. Trade Balance, In Physical Terms, 2012-2023
    6. Trade Balance, In Value Terms, 2012-2023
    7. Per Capita Consumption, 2012-2023
    8. Market Volume Forecast to 2030
    9. Market Value Forecast to 2030
    10. Products: Market Size And Growth, By Type
    11. Products: Average Per Capita Consumption, By Type
    12. Products: Exports And Growth, By Type
    13. Products: Export Prices And Growth, By Type
    14. Production Volume And Growth
    15. Exports And Growth
    16. Export Prices And Growth
    17. Market Size And Growth
    18. Per Capita Consumption
    19. Imports And Growth
    20. Import Prices
    21. Production, In Physical Terms, 2012–2023
    22. Production, In Value Terms, 2012–2023
    23. Imports, In Physical Terms, 2012–2023
    24. Imports, In Value Terms, 2012–2023
    25. Imports, In Physical Terms, By Country, 2023
    26. Imports, In Physical Terms, By Country, 2012–2023
    27. Imports, In Value Terms, By Country, 2012–2023
    28. Import Prices, By Country Of Origin, 2012–2023
    29. Exports, In Physical Terms, 2012–2023
    30. Exports, In Value Terms, 2012–2023
    31. Exports, In Physical Terms, By Country, 2023
    32. Exports, In Physical Terms, By Country, 2012–2023
    33. Exports, In Value Terms, By Country, 2012–2023
    34. Export Prices, By Country Of Destination, 2012–2023

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