SADC: Needle Roller Bearing Market 2024

Needle Roller Bearing Market Size in SADC

The SADC needle roller bearing market reduced to $X in 2021, which is down by -6.8% against the previous year. Overall, consumption showed a dramatic shrinkage. The level of consumption peaked at $X in 2013; however, from 2014 to 2021, consumption stood at a somewhat lower figure.

Needle Roller Bearing Production in SADC

In value terms, needle roller bearing production reduced to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +1.5% over the period from 2012 to 2021; however, the trend pattern remained consistent, with only minor fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2020 with an increase of 36% against the previous year. As a result, production attained the peak level of $X, and then reduced in the following year.

Needle Roller Bearing Exports

Exports in SADC

Needle roller bearing exports fell significantly to X tons in 2021, shrinking by -27.9% compared with the year before. Overall, exports continue to indicate a dramatic decrease. The most prominent rate of growth was recorded in 2014 when exports increased by 50% against the previous year. As a result, the exports reached the peak of X tons. From 2015 to 2021, the growth of the exports failed to regain momentum.

In value terms, needle roller bearing exports contracted notably to $X in 2021. Over the period under review, exports saw a relatively flat trend pattern. The growth pace was the most rapid in 2017 when exports increased by 58% against the previous year. The level of export peaked at $X in 2020, and then fell sharply in the following year.

Exports by Country

The shipments of the one major exporters of needle roller bearings, namely South Africa, represented more than two-thirds of total export.

South Africa was also the fastest-growing in terms of the needle roller bearings exports, with a CAGR of -47.7% from 2012 to 2021. From 2012 to 2021, the share of South Africa decreased by -2.2 percentage points, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, South Africa ($X) also remains the largest needle roller bearing supplier in SADC.

From 2012 to 2021, the average annual rate of growth in terms of value in South Africa totaled +1.5%.

Export Prices by Country

The export price in SADC stood at $X per ton in 2021, which is down by -15.8% against the previous year. In general, the export price, however, saw significant growth. The most prominent rate of growth was recorded in 2016 when the export price increased by 17,557% against the previous year. Over the period under review, the export prices attained the peak figure at $X per ton in 2018; however, from 2019 to 2021, the export prices remained at a lower figure.

As there is only one major export destination, the average price level is determined by prices for South Africa.

From 2012 to 2021, the rate of growth in terms of prices for South Africa amounted to +94.4% per year.

Needle Roller Bearing Imports

Imports in SADC

In 2021, needle roller bearing imports in SADC reduced to X tons, declining by -5.1% compared with 2020 figures. Over the period under review, imports continue to indicate a precipitous curtailment. The most prominent rate of growth was recorded in 2013 when imports increased by 9.7% against the previous year. As a result, imports attained the peak of X tons. From 2014 to 2021, the growth of imports failed to regain momentum.

In value terms, needle roller bearing imports reached $X in 2021. In general, imports continue to indicate a perceptible downturn. The most prominent rate of growth was recorded in 2018 when imports increased by 13%. Over the period under review, imports reached the peak figure at $X in 2013; however, from 2014 to 2021, imports remained at a lower figure.

Imports by Country

South Africa represented the major importing country with an import of around X tons, which recorded 70% of total imports. It was distantly followed by Tanzania (X tons) and Zambia (X tons), together comprising a 20% share of total imports. Zimbabwe (X tons) and Mozambique (X tons) held a little share of total imports.

Imports into South Africa decreased at an average annual rate of -60.0% from 2012 to 2021. At the same time, Zambia (+15.4%), Zimbabwe (+15.2%), Mozambique (+12.9%) and Tanzania (+4.0%) displayed positive paces of growth. Moreover, Zambia emerged as the fastest-growing importer imported in SADC, with a CAGR of +15.4% from 2012-2021. While the share of Tanzania (+12 p.p.), Zambia (+7.8 p.p.), Zimbabwe (+2.7 p.p.) and Mozambique (+1.8 p.p.) increased significantly in terms of the total imports from 2012-2021, the share of South Africa (-29.9 p.p.) displayed negative dynamics.

In value terms, South Africa ($X) constitutes the largest market for imported needle roller bearings in SADC, comprising 83% of total imports. The second position in the ranking was taken by Tanzania ($X), with a 4.4% share of total imports. It was followed by Zambia, with a 4.1% share.

In South Africa, needle roller bearing imports shrank by an average annual rate of -3.5% over the period from 2012-2021. In the other countries, the average annual rates were as follows: Tanzania (+3.4% per year) and Zambia (+10.4% per year).

Import Prices by Country

The import price in SADC stood at $X per ton in 2021, rising by 11% against the previous year. Overall, the import price showed a significant increase. The pace of growth was the most pronounced in 2016 an increase of 166,345% against the previous year. The level of import peaked in 2021 and is expected to retain growth in years to come.

Prices varied noticeably country of destination: the country with the highest price was South Africa ($X per ton), while Zimbabwe ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by South Africa (+142.5%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform