Kenya: Ball Bearing Market 2024

Ball Bearing Market Size in Kenya

The Kenyan ball bearing market skyrocketed to $X in 2021, increasing by 36% 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 posted a prominent expansion. Ball bearing consumption peaked in 2021 and is likely to continue growth in the near future.

Ball Bearing Exports

Exports from Kenya

In 2021, overseas shipments of ball bearings increased by 16% to X tons, rising for the second consecutive year after two years of decline. Overall, exports recorded a resilient increase. The most prominent rate of growth was recorded in 2017 when exports increased by 124%. As a result, the exports reached the peak of X tons; afterwards, it flattened through to 2021.

In value terms, ball bearing exports soared to $X in 2021. In general, exports saw a buoyant expansion. The growth pace was the most rapid in 2017 when exports increased by 134% against the previous year. The exports peaked in 2021 and are likely to continue growth in the near future.

Exports by Country

Tanzania (X tons) was the main destination for ball bearing exports from Kenya, accounting for a 61% share of total exports. Moreover, ball bearing exports to Tanzania exceeded the volume sent to the second major destination, Madagascar (X kg), ninefold. Ethiopia (X kg) ranked third in terms of total exports with a 6.5% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Tanzania amounted to +27.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Madagascar (+1,555.3% per year) and Ethiopia (+5.6% per year).

In value terms, Tanzania ($X) remains the key foreign market for ball bearings exports from Kenya, comprising 63% of total exports. The second position in the ranking was held by Ethiopia ($X), with a 6.7% share of total exports. It was followed by Democratic Republic of the Congo, with a 2.8% share.

From 2012 to 2021, the average annual growth rate of value to Tanzania amounted to +26.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Ethiopia (-13.2% per year) and Democratic Republic of the Congo (+48.7% per year).

Export Prices by Country

The average ball bearing export price stood at $X per ton in 2021, increasing by 25% against the previous year. Overall, the export price, however, showed a abrupt curtailment. The growth pace was the most rapid in 2018 an increase of 43% against the previous year. The export price peaked at $X per ton in 2012; however, from 2013 to 2021, the export prices failed to regain momentum.

There were significant differences in the average prices for the major external markets. In 2021, the country with the highest price was Egypt ($X per ton), while the average price for exports to Somalia ($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 Denmark (+54.6%), while the prices for the other major destinations experienced more modest paces of growth.

Ball Bearing Imports

Imports into Kenya

In 2021, approx. X tons of ball bearings were imported into Kenya; jumping by 23% compared with the year before. In general, imports showed a moderate increase. The pace of growth was the most pronounced in 2014 when imports increased by 94% 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 soared to $X in 2021. Over the period under review, imports continue to indicate a remarkable increase. The pace of growth appeared the most rapid in 2014 when imports increased by 52% against the previous year. Imports peaked in 2021 and are likely to see steady growth in the near future.

Imports by Country

In 2021, China (X tons) constituted the largest ball bearing supplier to Kenya, with a 51% share of total imports. Moreover, ball bearing imports from China exceeded the figures recorded by the second-largest supplier, India (X tons), sixfold. Japan (X tons) ranked third in terms of total imports with a 7.4% share.

From 2012 to 2021, the average annual growth rate of volume from China stood at +11.2%. The remaining supplying countries recorded the following average annual rates of imports growth: India (+5.1% per year) and Japan (+34.0% per year).

In value terms, China ($X) constituted the largest supplier of ball bearings to Kenya, comprising 30% of total imports. The second position in the ranking was taken by India ($X), with a 10% share of total imports. It was followed by Japan, with a 9% share.

From 2012 to 2021, the average annual rate of growth in terms of value from China stood at +8.9%. The remaining supplying countries recorded the following average annual rates of imports growth: India (+11.6% per year) and Japan (+34.7% per year).

Import Prices by Country

In 2021, the average ball bearing import price amounted to $X per ton, surging by 18% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +3.1%. The most prominent rate of growth was recorded in 2015 when the average import price increased by 64% against the previous year. As a result, import price attained the peak level of $X per ton. From 2016 to 2021, the average 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 Belgium ($X per ton), while the price for the United Arab Emirates ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Belgium (+14.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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