Kenya: Ball Bearing Parts Market 2022

Ball Bearing Parts Market Size in Kenya

The Kenyan ball bearing parts market was finally on the rise to reach $X in 2021, after three years of decline. In general, consumption, however, continues to indicate a deep slump. Over the period under review, the market hit record highs at $X in 2012; however, from 2013 to 2021, consumption stood at a somewhat lower figure.

Ball Bearing Parts Exports

Exports from Kenya

In 2021, ball bearing parts exports from Kenya surged to X tons, growing by 26% on the year before. In general, exports continue to indicate a slight expansion. The most prominent rate of growth was recorded in 2016 with an increase of 328%. As a result, the exports reached the peak of X tons. From 2017 to 2021, the growth of the exports remained at a lower figure.

In value terms, ball bearing parts exports skyrocketed to $X in 2021. Overall, exports, however, saw a deep reduction. The pace of growth appeared the most rapid in 2018 with an increase of 335%. Over the period under review, the exports attained the maximum at $X in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Rwanda (X tons) was the main destination for ball bearing parts exports from Kenya, with a 55% share of total exports. Moreover, ball bearing parts exports to Rwanda exceeded the volume sent to the second major destination, Tunisia (X kg), threefold. Tanzania (X kg) ranked third in terms of total exports with a 13% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Rwanda totaled +65.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Tunisia (0.0% per year) and Tanzania (-5.5% per year).

In value terms, Rwanda ($X) emerged as the key foreign market for ball bearing parts exports from Kenya, comprising 55% of total exports. The second position in the ranking was held by Tunisia ($X), with a 20% share of total exports. It was followed by Tanzania, with a 14% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Rwanda totaled +49.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Tunisia (0.0% per year) and Tanzania (-16.6% per year).

Export Prices by Country

The average ball bearing parts export price stood at $X per ton in 2021, dropping by -7.8% against the previous year. In general, the export price recorded a deep reduction. The pace of growth was the most pronounced in 2018 when the average export price increased by 58% against the previous year. The export price peaked at $X per ton in 2013; however, from 2014 to 2021, the export prices failed to regain momentum.

Average prices varied somewhat for the major external markets. In 2021, the highest price was recorded for prices to Tanzania ($X per ton) and Tunisia ($X per ton), while the average price for exports to Uganda ($X per ton) and Rwanda ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to India (-4.7%), while the prices for the other major destinations experienced a decline.

Ball Bearing Parts Imports

Imports into Kenya

In 2021, purchases abroad of parts of ball or roller bearings was finally on the rise to reach X tons for the first time since 2018, thus ending a two-year declining trend. Overall, imports, however, continue to indicate a perceptible setback. Over the period under review, imports reached the peak figure at X tons in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

In value terms, ball bearing parts imports surged to $X in 2021. Over the period under review, imports, however, continue to indicate a abrupt slump. The pace of growth was the most pronounced in 2017 when imports increased by 225% against the previous year. Over the period under review, imports reached the maximum at $X in 2014; however, from 2015 to 2021, imports stood at a somewhat lower figure.

Imports by Country

India (X tons), China (X tons) and Nigeria (X tons) were the main suppliers of ball bearing parts imports to Kenya, with a combined 85% share of total imports. The United States, Sweden, South Africa and the United Arab Emirates lagged somewhat behind, together accounting for a further 7.2%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Sweden (with a CAGR of +65.3%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest ball bearing parts suppliers to Kenya were India ($X), China ($X) and Nigeria ($X), together accounting for 56% of total imports. These countries were followed by the United States, Sweden, South Africa and the United Arab Emirates, which together accounted for a further 15%.

Among the main suppliers, Sweden, with a CAGR of +71.2%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average ball bearing parts import price stood at $X per ton in 2021, dropping by -25.3% against the previous year. In general, the import price showed a pronounced reduction. The pace of growth was the most pronounced in 2019 an increase of 57% against the previous year. As a result, import price reached the peak level of $X per ton. From 2020 to 2021, the average import prices failed to regain momentum.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Singapore (+4.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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