MENA: Tapered Roller Bearing Market 2024

Tapered Roller Bearing Market Size in MENA

The MENA's tapered roller bearing market expanded markedly to $X in 2021, growing by 9.3% against the previous year. The market value increased at an average annual rate of +3.8% over the period from 2012 to 2021; the trend pattern remained consistent, with somewhat noticeable fluctuations in certain years. As a result, consumption reached the peak level of $X. From 2015 to 2021, the growth of the market remained at a somewhat lower figure.

Tapered Roller Bearing Production in MENA

In value terms, tapered roller bearing production totaled $X in 2021 estimated in export price. The total output value increased at an average annual rate of +4.6% over the period 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 2013 when the production volume increased by 40%. The level of production peaked at $X in 2014; however, from 2015 to 2021, production stood at a somewhat lower figure.

Tapered Roller Bearing Exports

Exports in MENA

In 2021, overseas shipments of tapered roller bearings increased by 7.4% to X tons, rising for the fifth year in a row after four years of decline. Over the period under review, exports recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2017 with an increase of 51%. Over the period under review, the exports attained the peak figure in 2021 and are expected to retain growth in the immediate term.

In value terms, tapered roller bearing exports soared to $X in 2021. In general, exports saw a remarkable increase. The pace of growth was the most pronounced in 2017 when exports increased by 66% against the previous year. The level of export peaked in 2021 and is likely to see steady growth in the near future.

Exports by Country

In 2021, Turkey (X tons) represented the largest exporter of tapered roller bearings, generating 57% of total exports. The United Arab Emirates (X tons) took the second position in the ranking, distantly followed by Oman (X tons). All these countries together held near 40% share of total exports.

From 2012 to 2021, the biggest increases were recorded for Oman (with a CAGR of +70.8%), while shipments for the other leaders experienced mixed trends in the exports figures.

In value terms, the largest tapered roller bearing supplying countries in MENA were Turkey ($X), the United Arab Emirates ($X) and Oman ($X), with a combined 96% share of total exports.

Oman, with a CAGR of +51.8%, recorded the highest rates of growth with regard to 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

In 2021, the export price in MENA amounted to $X per ton, growing by 20% against the previous year. Overall, the export price showed a prominent increase. The pace of growth appeared the most rapid in 2015 when the export price increased by 21% against the previous year. Over the period under review, the export prices reached the maximum in 2021 and is likely to see steady growth in years to come.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (+14.3%), while the other leaders experienced mixed trends in the export price figures.

Tapered Roller Bearing Imports

Imports in MENA

In 2021, supplies from abroad of tapered roller bearings increased by 14% to X tons, rising for the third year in a row after two years of decline. Total imports indicated pronounced growth from 2012 to 2021: its volume increased at an average annual rate of +4.4% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +48.3% against 2018 indices. The pace of growth appeared the most rapid in 2019 with an increase of 23%. The volume of import peaked in 2021 and is likely to see steady growth in the near future.

In value terms, tapered roller bearing imports soared to $X in 2021. Overall, imports continue to indicate a relatively flat trend pattern. The level of import peaked at $X in 2014; however, from 2015 to 2021, imports failed to regain momentum.

Imports by Country

Turkey (X tons) and the United Arab Emirates (X tons) were the largest importers of tapered roller bearings in 2021, finishing at near 38% and 32% of total imports, respectively. It was distantly followed by Iran (X tons), making up a 13% share of total imports. Saudi Arabia (X tons), Algeria (X tons), Morocco (X tons) and Iraq (X tons) followed a long way behind the leaders.

From 2012 to 2021, the biggest increases were recorded for Algeria (with a CAGR of +12.3%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest tapered roller bearing importing markets in MENA were Turkey ($X), the United Arab Emirates ($X) and Iran ($X), with a combined 78% share of total imports. These countries were followed by Saudi Arabia, Morocco, Algeria and Iraq, which together accounted for a further 13%.

Morocco, with a CAGR of +5.8%, saw the highest rates of growth with regard to the value of imports, in terms of 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

In 2021, the import price in MENA amounted to $X per ton, surging by 3.9% against the previous year. Overall, the import price, however, continues to indicate a noticeable reduction. The most prominent rate of growth was recorded in 2013 when the import price increased by 6.2% against the previous year. As a result, import price reached the peak level of $X per ton. From 2014 to 2021, the import prices remained 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 Morocco ($X per ton), while the United Arab Emirates ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Iraq (-0.7%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform