MENA: Spherical Roller Bearing Market 2024

Spherical Roller Bearing Exports

Exports in MENA

In 2021, shipments abroad of spherical roller bearings increased by 29% to X tons for the first time since 2018, thus ending a two-year declining trend. Over the period under review, exports posted strong growth. The pace of growth was the most pronounced in 2018 when exports increased by 83%. As a result, the exports attained the peak of X tons. From 2019 to 2021, the growth of the exports remained at a lower figure.

In value terms, spherical roller bearing exports surged to $X in 2021. In general, exports enjoyed a strong increase. The growth pace was the most rapid in 2018 with an increase of 130% against the previous year. As a result, the exports attained the peak of $X. From 2019 to 2021, the growth of the exports remained at a lower figure.

Exports by Country

The United Arab Emirates was the main exporting country with an export of about X tons, which finished at 61% of total exports. Turkey (X tons) ranks second in terms of the total exports with a 25% share, followed by Israel (9.5%). Saudi Arabia (X tons) held a relatively small share of total exports.

From 2012 to 2021, average annual rates of growth with regard to spherical roller bearing exports from the United Arab Emirates stood at +6.0%. At the same time, Israel (+54.7%), Saudi Arabia (+9.8%) and Turkey (+4.5%) displayed positive paces of growth. Moreover, Israel emerged as the fastest-growing exporter exported in MENA, with a CAGR of +54.7% from 2012-2021. Israel (+9.1 p.p.) significantly strengthened its position in terms of the total exports, while the United Arab Emirates and Turkey saw its share reduced by -4% and -5.3% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the United Arab Emirates ($X) remains the largest spherical roller bearing supplier in MENA, comprising 62% of total exports. The second position in the ranking was held by Turkey ($X), with a 22% share of total exports. It was followed by Israel, with an 11% share.

In the United Arab Emirates, spherical roller bearing exports expanded at an average annual rate of +10.3% over the period from 2012-2021. In the other countries, the average annual rates were as follows: Turkey (+5.0% per year) and Israel (+41.9% per year).

Export Prices by Country

In 2021, the export price in MENA amounted to $X per ton, growing by 7.4% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +2.8%. The most prominent rate of growth was recorded in 2018 an increase of 25%. Over the period under review, the export prices reached the maximum at $X per ton in 2019; afterwards, it flattened through to 2021.

Average prices varied somewhat amongst the major exporting countries. In 2021, major exporting countries recorded the following prices: in Israel ($X per ton) and the United Arab Emirates ($X per ton), while Turkey ($X per ton) and Saudi Arabia ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (+4.1%), while the other leaders experienced mixed trends in the export price figures.

Spherical Roller Bearing Imports

Imports in MENA

In 2021, overseas purchases of spherical roller bearings increased by 15% to X tons, rising for the second consecutive year after two years of decline. The total import volume increased at an average annual rate of +3.2% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2020 when imports increased by 26% against the previous year. The volume of import peaked at X tons in 2014; however, from 2015 to 2021, imports remained at a lower figure.

In value terms, spherical roller bearing imports skyrocketed to $X in 2021. Overall, imports, however, showed a relatively flat trend pattern. Over the period under review, imports attained the maximum at $X in 2014; however, from 2015 to 2021, imports remained at a lower figure.

Imports by Country

Turkey represented the main importing country with an import of around X tons, which finished at 44% of total imports. The United Arab Emirates (X tons) held the second position in the ranking, followed by Iran (X tons) and Saudi Arabia (X tons). All these countries together held approx. 44% share of total imports. Morocco (X tons) and Algeria (X tons) took a relatively small share of total imports.

Imports into Turkey increased at an average annual rate of +2.9% from 2012 to 2021. At the same time, Saudi Arabia (+15.9%), Algeria (+7.4%), Morocco (+5.7%) and Iran (+3.7%) displayed positive paces of growth. Moreover, Saudi Arabia emerged as the fastest-growing importer imported in MENA, with a CAGR of +15.9% from 2012-2021. The United Arab Emirates experienced a relatively flat trend pattern. From 2012 to 2021, the share of Saudi Arabia increased by +4.6 percentage points. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Turkey ($X) constitutes the largest market for imported spherical roller bearings in MENA, comprising 48% of total imports. The second position in the ranking was held by Saudi Arabia ($X), with a 15% share of total imports. It was followed by the United Arab Emirates, with a 15% share.

From 2012 to 2021, the average annual growth rate of value in Turkey was relatively modest. The remaining importing countries recorded the following average annual rates of imports growth: Saudi Arabia (+24.1% per year) and the United Arab Emirates (-8.1% per year).

Import Prices by Country

In 2021, the import price in MENA amounted to $X per ton, picking up by 7.2% against the previous year. Over the period under review, the import price, however, continues to indicate a perceptible shrinkage. The level of import peaked at $X per ton in 2012; however, from 2013 to 2021, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2021, the country with the highest price was Saudi Arabia ($X per ton), while Iran ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Saudi Arabia (+7.0%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform