Kenya: Tapered Roller Bearing Market 2024

Tapered Roller Bearing Market Size in Kenya

The Kenyan tapered roller bearing market surged to $X in 2021, picking up by 46% 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 continues to indicate notable growth. Over the period under review, the market reached the maximum level in 2021 and is likely to see steady growth in the immediate term.

Tapered Roller Bearing Exports

Exports from Kenya

In 2021, exports of tapered roller bearings from Kenya declined sharply to X kg, with a decrease of -80.6% against the previous year's figure. Overall, exports showed a drastic downturn. The most prominent rate of growth was recorded in 2016 when exports increased by 694%. The exports peaked at X tons in 2017; however, from 2018 to 2021, the exports stood at a somewhat lower figure.

In value terms, tapered roller bearing exports shrank notably to $X in 2021. In general, exports faced a dramatic downturn. The pace of growth was the most pronounced in 2016 when exports increased by 404% against the previous year. The exports peaked at $X in 2017; however, from 2018 to 2021, the exports failed to regain momentum.

Exports by Country

Tanzania (X kg) was the main destination for tapered roller bearing exports from Kenya, accounting for a 61% share of total exports. Moreover, tapered roller bearing exports to Tanzania exceeded the volume sent to the second major destination, the United States (X kg), threefold. The third position in this ranking was taken by Rwanda (X kg), with a 6.1% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Tanzania amounted to -7.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (-24.6% per year) and Rwanda (+1.0% per year).

In value terms, the United States ($X) remains the key foreign market for tapered roller bearings exports from Kenya, comprising 64% of total exports. The second position in the ranking was held by Tanzania ($X), with a 28% share of total exports. It was followed by Rwanda, with a 2.9% share.

From 2012 to 2021, the average annual growth rate of value to the United States totaled -20.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Tanzania (-18.7% per year) and Rwanda (+0.6% per year).

Export Prices by Country

The average tapered roller bearing export price stood at $X per ton in 2021, dropping by -11.5% against the previous year. In general, the export price saw a deep contraction. The pace of growth was the most pronounced in 2020 when the average export price increased by 34% against the previous year. Over the period under review, the average export prices reached the peak figure at $X per ton in 2015; however, from 2016 to 2021, the export prices remained at a lower figure.

There were significant differences in the average prices for the major export markets. In 2021, the country with the highest price was the United States ($X per ton), while the average price for exports to the Netherlands ($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 the United States (+6.1%), while the prices for the other major destinations experienced a decline.

Tapered Roller Bearing Imports

Imports into Kenya

In 2021, the amount of tapered roller bearings imported into Kenya skyrocketed to X tons, jumping by 66% against the previous year. Overall, imports showed a strong expansion. The most prominent rate of growth was recorded in 2018 with an increase of 101% against the previous year. Imports peaked in 2021 and are likely to see steady growth in years to come.

In value terms, tapered roller bearing imports skyrocketed to $X in 2021. In general, imports enjoyed a mild increase. The most prominent rate of growth was recorded in 2018 with an increase of 63% against the previous year. Over the period under review, imports hit record highs at $X in 2015; however, from 2016 to 2021, imports stood at a somewhat lower figure.

Imports by Country

China (X tons), India (X tons) and Japan (X tons) were the main suppliers of tapered roller bearing imports to Kenya, together comprising 78% of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Japan (with a CAGR of +42.1%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest tapered roller bearing suppliers to Kenya were China ($X), India ($X) and Japan ($X), with a combined 72% share of total imports.

Japan, with a CAGR of +28.4%, saw the highest rates of growth with regard to 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 tapered roller bearing import price stood at $X per ton in 2021, declining by -16.4% against the previous year. In general, the import price saw a deep contraction. The growth pace was the most rapid in 2020 an increase of 30%. Over the period under review, average import prices reached the maximum at $X per ton in 2012; however, from 2013 to 2021, import prices remained at a lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Germany (-4.7%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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