Kenya: Roller Bearing Market 2024

Roller Bearing Market Size in Kenya

In 2022, the Kenyan roller bearing market was finally on the rise to reach $X for the first time since 2018, thus ending a three-year declining trend. In general, consumption posted a temperate expansion. Kenya consumption peaked at $X in 2016; however, from 2017 to 2022, consumption remained at a lower figure.

Roller Bearing Exports

Exports from Kenya

In 2022, exports of roller bearings from Kenya fell remarkably to X tons, which is down by -59.1% against 2021 figures. Overall, exports showed a abrupt contraction. The pace of growth was the most pronounced in 2021 with an increase of 350% against the previous year. Over the period under review, the exports reached the peak figure at X tons in 2013; however, from 2014 to 2022, the exports stood at a somewhat lower figure.

In value terms, roller bearing exports declined sharply to $X in 2022. In general, exports showed a perceptible setback. The growth pace was the most rapid in 2013 with an increase of 414% against the previous year. As a result, the exports reached the peak of $X. From 2014 to 2022, the growth of the exports remained at a somewhat lower figure.

Exports by Country

In 2022, China (X tons) represented the largest exporter of roller bearings, constituting 43% of total exports. Singapore (X tons) took the second position in the ranking, followed by Germany (X tons), France (X tons), Slovakia (X tons) and the United States (X tons). All these countries together took approx. 30% share of total exports. Italy (X tons), South Korea (X tons), Indonesia (X tons), Hong Kong SAR (X tons), Turkey (X tons), Austria (X tons) and Romania (X tons) followed a long way behind the leaders.

Exports from China increased at an average annual rate of +22.6% from 2012 to 2022. At the same time, Indonesia (+35.7%), Turkey (+8.5%), Singapore (+1.2%) and Slovakia (+1.1%) displayed positive paces of growth. Moreover, Indonesia emerged as the fastest-growing exporter exported in the world, with a CAGR of +35.7% from 2012-2022. By contrast, Italy (-1.9%), Germany (-2.0%), France (-2.2%), South Korea (-9.7%), Hong Kong SAR (-13.7%), the United States (-18.4%), Austria (-22.3%) and Romania (-22.4%) illustrated a downward trend over the same period. While the share of China (+37 p.p.) and Indonesia (+2.2 p.p.) increased significantly in terms of the global exports from 2012-2022, the share of Italy (-1.5 p.p.), Germany (-2.6 p.p.), France (-2.7 p.p.), Romania (-4.9 p.p.), Hong Kong SAR (-6 p.p.), South Korea (-6.3 p.p.), the United States (-6.4 p.p.) and Austria (-7.2 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X), Singapore ($X) and Germany ($X) appeared to be the countries with the highest levels of exports in 2022, with a combined 45% share of total exports. Italy, the United States, France, Hong Kong SAR, Slovakia, South Korea, Austria, Turkey, Indonesia and Romania lagged somewhat behind, together accounting for a further 31%.

Indonesia, with a CAGR of +16.1%, recorded the highest growth rate of the value of exports, in terms of the main exporting countries over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The export price in Kenya stood at $X per ton in 2022, rising by 53% against the previous year. Overall, the export price continues to indicate resilient growth. The pace of growth appeared the most rapid in 2019 when the export price increased by 104% against the previous year. The Kenya export price peaked in 2022 and is likely to see gradual growth in the near future.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was the United States ($X per ton), while Indonesia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+16.3%), while the other leaders experienced more modest paces of growth.

Roller Bearing Imports

Imports into Kenya

In 2022, after three years of decline, there was significant growth in overseas purchases of roller bearings, when their volume increased by 22% to X tons. In general, imports enjoyed a buoyant expansion. The most prominent rate of growth was recorded in 2015 when imports increased by 501% against the previous year. Kenya imports peaked at X tons in 2016; however, from 2017 to 2022, imports remained at a lower figure.

In value terms, roller bearing imports soared to $X in 2022. Overall, imports, however, saw a mild setback. The growth pace was the most rapid in 2013 when imports increased by 282% against the previous year. Over the period under review, imports hit record highs at $X in 2016; however, from 2017 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, Thailand (X tons) and Indonesia (X tons) were the major importers of roller bearingsaround the world, together accounting for near 32% of total imports. It was distantly followed by Germany (X tons), generating a 6.2% share of total imports. The following importers - India (X tons), Italy (X tons), Canada (X tons), Malaysia (X tons), Spain (X tons), South Korea (X tons), France (X tons), Singapore (X tons), Poland (X tons) and Austria (X tons) - together made up 25% of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by Thailand (with a CAGR of +18.5%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest roller bearing importing markets into Kenya were Indonesia ($X), Germany ($X) and India ($X), together comprising 24% of total imports.

Indonesia, with a CAGR of +4.2%, recorded the highest growth rate of the value of imports, among the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in Kenya stood at $X per ton in 2022, declining by -3% against the previous year. Overall, the import price saw a abrupt contraction. The pace of growth appeared the most rapid in 2020 an increase of 59% against the previous year. Over the period under review, import prices hit record highs at $X per ton in 2012; however, from 2013 to 2022, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Canada ($X per ton), while Thailand ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by France (+6.9%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :