Ghana - Ball Bearings - Market Analysis, Forecast, Size, Trends and Insights
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View PricingGhana: 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) :
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:
- How to diversify your business and benefit from new market opportunities
- How to load your idle production capacity
- How to boost your sales on overseas markets
- How to increase your profit margins
- How to make your supply chain more sustainable
- How to reduce your production and supply chain costs
- How to outsource production to other countries
- 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.
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1. INTRODUCTION
Making Data-Driven Decisions to Grow Your Business
- REPORT DESCRIPTION
- RESEARCH METHODOLOGY AND AI PLATFORM
- DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
- GLOSSARY AND SPECIFIC TERMS
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2. EXECUTIVE SUMMARY
A Quick Overview of Market Performance
- KEY FINDINGS
- MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
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3. MARKET OVERVIEW
Understanding the Current State of The Market and Its Prospects
- MARKET SIZE
- MARKET STRUCTURE
- TRADE BALANCE
- PER CAPITA CONSUMPTION
- MARKET FORECAST TO 2030
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4. MOST PROMISING PRODUCT
Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO- TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
- BEST-SELLING PRODUCTS
- MOST CONSUMED PRODUCT
- MOST TRADED PRODUCT
- MOST PROFITABLE PRODUCT FOR EXPORT
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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- TOP COUNTRIES TO SOURCE YOUR PRODUCT
- TOP PRODUCING COUNTRIES
- TOP EXPORTING COUNTRIES
- LOW-COST EXPORTING COUNTRIES
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6. MOST PROMISING OVERSEAS MARKETS
Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO- TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
- TOP CONSUMING MARKETS
- UNSATURATED MARKETS
- TOP IMPORTING MARKETS
- MOST PROFITABLE MARKETS
7. PRODUCTION
The Latest Trends and Insights into The Industry
- PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
- IMPORTS FROM 2012–2023
- IMPORTS BY COUNTRY
- IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
- EXPORTS FROM 2012–2023
- EXPORTS BY COUNTRY
- EXPORT PRICES BY COUNTRY
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10. PROFILES OF MAJOR PRODUCERS
The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO -
LIST OF TABLES
- Key Findings In 2023
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Per Capita Consumption In 2012-2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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LIST OF FIGURES
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
- Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
- Trade Balance, In Physical Terms, 2012-2023
- Trade Balance, In Value Terms, 2012-2023
- Per Capita Consumption, 2012-2023
- Market Volume Forecast to 2030
- Market Value Forecast to 2030
- Products: Market Size And Growth, By Type
- Products: Average Per Capita Consumption, By Type
- Products: Exports And Growth, By Type
- Products: Export Prices And Growth, By Type
- Production Volume And Growth
- Exports And Growth
- Export Prices And Growth
- Market Size And Growth
- Per Capita Consumption
- Imports And Growth
- Import Prices
- Production, In Physical Terms, 2012–2023
- Production, In Value Terms, 2012–2023
- Imports, In Physical Terms, 2012–2023
- Imports, In Value Terms, 2012–2023
- Imports, In Physical Terms, By Country, 2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, 2012–2023
- Exports, In Value Terms, 2012–2023
- Exports, In Physical Terms, By Country, 2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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