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

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

For the fourth year in a row, the Ghanian market for bearing housings incorporating ball or roller bearings recorded growth in sales value, which increased by 26% to $X in 2022. In general, consumption saw a prominent increase. Bearing housing with ball bearing consumption peaked in 2022 and is expected to retain growth in the near future.

Exports of Bearing Housings Incorporating Ball Or Roller Bearings

Exports from Ghana

In 2022, exports of bearing housings incorporating ball or roller bearings from Ghana soared to X tons, jumping by 63% on the previous year's figure. Over the period under review, exports posted a buoyant expansion. The pace of growth appeared the most rapid in 2013 with an increase of 380%. As a result, the exports reached the peak of X tons. From 2014 to 2022, the growth of the exports remained at a lower figure.

In value terms, bearing housing with ball bearing exports fell to $X in 2022. In general, exports showed a remarkable increase. The most prominent rate of growth was recorded in 2013 with an increase of 824%. As a result, the exports attained the peak of $X. From 2014 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

Togo (X kg), South Africa (X kg) and Burkina Faso (X kg) were the main destinations of bearing housing with ball bearing exports from Ghana, together accounting for 97% of total exports.

From 2012 to 2022, the biggest increases were recorded for Burkina Faso (with a CAGR of +31.4%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Burkina Faso ($X) remains the key foreign market for bearing housings incorporating ball or roller bearings exports from Ghana, comprising 51% of total exports. The second position in the ranking was held by South Africa ($X), with a 20% share of total exports. It was followed by Togo, with a 16% share.

From 2012 to 2022, the average annual growth rate of value to Burkina Faso amounted to +56.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: South Africa (-6.9% per year) and Togo (0.0% per year).

Export Prices by Country

The average export price for bearing housings incorporating ball or roller bearings stood at $X per ton in 2022, with a decrease of -42% against the previous year. In general, the export price recorded a deep contraction. The pace of growth appeared the most rapid in 2013 an increase of 93%. Over the period under review, the average export prices reached the maximum at $X per ton in 2015; however, from 2016 to 2022, the export prices failed to regain momentum.

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 the Netherlands ($X per ton), while the average price for exports to Togo ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Tanzania (+166.8%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Bearing Housings Incorporating Ball Or Roller Bearings

Imports into Ghana

Bearing housing with ball bearing imports into Ghana soared to X tons in 2022, with an increase of 46% against 2021. Over the period under review, imports continue to indicate a significant increase. The most prominent rate of growth was recorded in 2013 with an increase of 191% against the previous year. Over the period under review, imports reached the peak figure in 2022 and are expected to retain growth in the near future.

In value terms, bearing housing with ball bearing imports dropped to $X in 2022. In general, imports posted tangible growth. The pace of growth appeared the most rapid in 2019 with an increase of 164% against the previous year. Over the period under review, imports reached the peak figure at $X in 2013; however, from 2014 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, China (X tons) constituted the largest supplier of bearing housing with ball bearing to Ghana, with a 78% share of total imports. Moreover, bearing housing with ball bearing imports from China exceeded the figures recorded by the second-largest supplier, Germany (X tons), more than tenfold. Malaysia (X tons) ranked third in terms of total imports with a 2.3% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China amounted to +76.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+45.7% per year) and Malaysia (+16.7% per year).

In value terms, the largest bearing housing with ball bearing suppliers to Ghana were China ($X), Germany ($X) and the United States ($X), together accounting for 65% of total imports.

China, with a CAGR of +51.7%, recorded the highest growth rate of 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, reducing by -35.5% against the previous year. Overall, the import price faced a deep setback. The most prominent rate of growth was recorded in 2015 an increase of 52%. The import price peaked at $X per ton in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by India (+8.2%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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