MENA: Cylindrical Roller Bearing Market 2024

Cylindrical Roller Bearing Market Size in MENA

The MENA's cylindrical roller bearing market stood at $X in 2022, rising by 7.9% against the previous year. The market value increased at an average annual rate of +4.3% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the market attained the maximum level in 2022 and is likely to see steady growth in the immediate term.

Cylindrical Roller Bearing Production in MENA

In value terms, cylindrical roller bearing production amounted to $X in 2022 estimated in export price. The total production indicated a prominent increase from 2012 to 2022: its value increased at an average annual rate of +5.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -7.7% against 2020 indices. The most prominent rate of growth was recorded in 2020 with an increase of 44% against the previous year. As a result, production reached the peak level of $X. From 2021 to 2022, production growth remained at a somewhat lower figure.

Cylindrical Roller Bearing Exports

Exports in MENA

In 2022, overseas shipments of cylindrical roller bearings decreased by -1.6% to X tons for the first time since 2019, thus ending a two-year rising trend. Overall, exports, however, enjoyed resilient growth. The most prominent rate of growth was recorded in 2017 when exports increased by 70%. The volume of export peaked at X tons in 2021, and then shrank slightly in the following year.

In value terms, cylindrical roller bearing exports contracted to $X in 2022. In general, exports, however, enjoyed resilient growth. The pace of growth was the most pronounced in 2021 with an increase of 101%. As a result, the exports attained the peak of $X, and then fell in the following year.

Exports by Country

Turkey was the key exporter of cylindrical roller bearings in MENA, with the volume of exports recording X tons, which was near 72% of total exports in 2022. It was distantly followed by the United Arab Emirates (X tons), comprising a 26% share of total exports.

Turkey was also the fastest-growing in terms of the cylindrical roller bearings exports, with a CAGR of +14.1% from 2012 to 2022. At the same time, the United Arab Emirates (+7.3%) displayed positive paces of growth. Turkey (+16 p.p.) significantly strengthened its position in terms of the total exports, while the United Arab Emirates saw its share reduced by -11.3% from 2012 to 2022, respectively.

In value terms, Turkey ($X) remains the largest cylindrical roller bearing supplier in MENA, comprising 75% of total exports. The second position in the ranking was taken by the United Arab Emirates ($X), with a 21% share of total exports.

In Turkey, cylindrical roller bearing exports increased at an average annual rate of +13.0% over the period from 2012-2022.

Export Prices by Country

The export price in MENA stood at $X per ton in 2022, falling by -10.2% against the previous year. Over the period under review, the export price showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 when the export price increased by 22%. As a result, the export price attained the peak level of $X per ton, and then shrank in the following year.

Average prices varied somewhat amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Turkey ($X per ton), while the United Arab Emirates totaled $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (-0.1%).

Cylindrical Roller Bearing Imports

Imports in MENA

For the fourth consecutive year, MENA recorded growth in overseas purchases of cylindrical roller bearings, which increased by 12% to X tons in 2022. Total imports indicated pronounced growth from 2012 to 2022: its volume increased at an average annual rate of +4.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +65.9% against 2016 indices. The most prominent rate of growth was recorded in 2017 when imports increased by 19%. The volume of import peaked in 2022 and is expected to retain growth in years to come.

In value terms, cylindrical roller bearing imports rose modestly to $X in 2022. The total import value increased at an average annual rate of +4.3% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2019 when imports increased by 20%. The level of import peaked in 2022 and is expected to retain growth in the near future.

Imports by Country

Turkey was the major importer of cylindrical roller bearings in MENA, with the volume of imports resulting at X tons, which was near 54% of total imports in 2022. The United Arab Emirates (X tons) ranks second in terms of the total imports with a 14% share, followed by Iran (13%) and Saudi Arabia (6.6%). The following importers - Israel (X tons), Morocco (X tons) and Iraq (X tons) - each finished at a 6.1% share of total imports.

From 2012 to 2022, average annual rates of growth with regard to cylindrical roller bearing imports into Turkey stood at +3.8%. At the same time, Iraq (+18.4%), Iran (+9.7%), the United Arab Emirates (+8.4%) and Israel (+6.9%) displayed positive paces of growth. Moreover, Iraq emerged as the fastest-growing importer imported in MENA, with a CAGR of +18.4% from 2012-2022. Saudi Arabia experienced a relatively flat trend pattern. By contrast, Morocco (-1.8%) illustrated a downward trend over the same period. Iran (+4.7 p.p.) and the United Arab Emirates (+4 p.p.) significantly strengthened its position in terms of the total imports, while Morocco, Saudi Arabia and Turkey saw its share reduced by -1.7%, -3% and -5% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Turkey ($X) constitutes the largest market for imported cylindrical roller bearings in MENA, comprising 45% of total imports. The second position in the ranking was held by the United Arab Emirates ($X), with an 18% share of total imports. It was followed by Iran, with a 10% share.

From 2012 to 2022, the average annual growth rate of value in Turkey stood at +3.2%. In the other countries, the average annual rates were as follows: the United Arab Emirates (+5.7% per year) and Iran (+4.8% per year).

Import Prices by Country

In 2022, the import price in MENA amounted to $X per ton, reducing by -6.1% against the previous year. Overall, the import price continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2016 an increase of 9%. As a result, import price attained the peak level of $X per ton. From 2017 to 2022, the import prices remained at a lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Saudi Arabia (+6.1%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform