Kenya: Needle Roller Bearing Market 2024

Needle Roller Bearing Market Size in Kenya

The Kenyan needle roller bearing market stood at $X in 2021, with an increase of 11% 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, continues to indicate a abrupt slump. Needle roller bearing consumption peaked at $X in 2012; however, from 2013 to 2021, consumption failed to regain momentum.

Needle Roller Bearing Exports

Exports from Kenya

In 2021, the amount of needle roller bearings exported from Kenya surged to X kg, jumping by 55% against 2020. In general, exports continue to indicate a significant expansion. The pace of growth was the most pronounced in 2015 with an increase of 7,733%. The exports peaked at X kg in 2018; however, from 2019 to 2021, the exports failed to regain momentum.

In value terms, needle roller bearing exports skyrocketed to $X in 2021. Over the period under review, exports recorded significant growth. The most prominent rate of growth was recorded in 2015 with an increase of 1,661%. Over the period under review, the exports attained the peak figure in 2021 and are expected to retain growth in the near future.

Exports by Country

Tanzania (X kg) was the main destination for needle roller bearing exports from Kenya, accounting for a 70% share of total exports. Moreover, needle roller bearing exports to Tanzania exceeded the volume sent to the second major destination, Burundi (X kg), fourfold.

From 2012 to 2021, the average annual rate of growth in terms of volume to Tanzania totaled +76.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Burundi (+28.5% per year) and Seychelles (+27.7% per year).

In value terms, Tanzania ($X) remains the key foreign market for needle roller bearing exports from Kenya, comprising 68% of total exports. The second position in the ranking was taken by Burundi ($X), with a 19% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value to Tanzania stood at +109.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Burundi (+28.6% per year) and Seychelles (+37.1% per year).

Export Prices by Country

In 2021, the average needle roller bearing export price amounted to $X per ton, growing by 54% against the previous year. Overall, the export price posted temperate growth. The most prominent rate of growth was recorded in 2014 when the average export price increased by 237%. As a result, the export price reached the peak level of $X per ton. From 2015 to 2021, the average export prices remained at a somewhat lower figure.

There were significant differences in the average prices for the major overseas markets. In 2021, the country with the highest price was Burundi ($X per ton), while the average price for exports to Seychelles ($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 Tanzania (+7.9%), while the prices for the other major destinations experienced more modest paces of growth.

Needle Roller Bearing Imports

Imports into Kenya

Needle roller bearing imports into Kenya soared to X tons in 2021, growing by 24% compared with the year before. In general, imports, however, saw a pronounced reduction. The growth pace was the most rapid in 2020 when imports increased by 49%. Over the period under review, imports attained the maximum at X tons in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

In value terms, needle roller bearing imports rose sharply to $X in 2021. Over the period under review, imports, however, showed a abrupt decrease. The most prominent rate of growth was recorded in 2018 with an increase of 49% against the previous year. Over the period under review, imports hit record highs at $X in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

Imports by Country

Japan (X tons), India (X tons) and China (X tons) were the main suppliers of needle roller bearing imports to Kenya, together comprising 59% of total imports. Thailand, Germany, South Korea, Slovakia and the UK lagged somewhat behind, together comprising a further 24%.

From 2012 to 2021, the biggest increases were in Slovakia (with a CAGR of +57.2%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest needle roller bearing suppliers to Kenya were Japan ($X), India ($X) and China ($X), with a combined 52% share of total imports. These countries were followed by Germany, Slovakia, Thailand, South Korea and the UK, which together accounted for a further 31%.

Slovakia, with a CAGR of +63.1%, saw 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

In 2021, the average needle roller bearing import price amounted to $X per ton, shrinking by -14.9% against the previous year. Over the period under review, the import price recorded a pronounced decrease. The most prominent rate of growth was recorded in 2018 when the average import price increased by 35% against the previous year. Over the period under review, average import prices attained the maximum at $X per ton in 2016; however, from 2017 to 2021, import prices remained at a lower figure.

Prices varied noticeably country of origin: the country with the highest price was Slovakia ($X per ton), while the price for South Korea ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Slovakia (+4.6%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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