South Africa: Ball Bearing Market 2024

Ball Bearing Market Size in South Africa

In 2021, the South African ball bearing market was finally on the rise to reach $X for the first time since 2018, thus ending a two-year declining trend. In general, consumption, however, showed a relatively flat trend pattern. Ball bearing consumption peaked at $X in 2013; however, from 2014 to 2021, consumption remained at a lower figure.

Ball Bearing Exports

Exports from South Africa

In 2021, overseas shipments of ball bearings increased by 67% to X tons for the first time since 2017, thus ending a three-year declining trend. Over the period under review, total exports indicated a buoyant expansion from 2012 to 2021: its volume increased at an average annual rate of +5.9% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, ball bearing exports surged to $X in 2021. In general, exports, however, continue to indicate a relatively flat trend pattern. The exports peaked at $X in 2013; however, from 2014 to 2021, the exports failed to regain momentum.

Exports by Country

Namibia (X tons), Zambia (X tons) and Zimbabwe (X tons) were the main destinations of ball bearing exports from South Africa, together comprising 38% of total exports. Mozambique, Botswana, Swaziland, Democratic Republic of the Congo, Angola, Tanzania, the United States, Kenya, Lesotho and Malawi lagged somewhat behind, together accounting for a further 46%.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by the United States (with a CAGR of +37.3%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for ball bearing exported from South Africa were Namibia ($X), Zambia ($X) and Zimbabwe ($X), with a combined 38% share of total exports. These countries were followed by Mozambique, Botswana, Swaziland, Democratic Republic of the Congo, Angola, Tanzania, the United States, Kenya, Lesotho and Malawi, which together accounted for a further 45%.

In terms of the main countries of destination, the United States, with a CAGR of +29.9%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the average ball bearing export price amounted to $X per ton, falling by -28.4% against the previous year. Over the period under review, the export price continues to indicate a abrupt setback. The pace of growth was the most pronounced in 2018 when the average export price increased by 17% against the previous year. The export price peaked at $X per ton in 2014; however, from 2015 to 2021, the export prices remained at a lower figure.

Average prices varied noticeably for the major external markets. In 2021, the countries with the highest prices were Lesotho ($X per ton) and Tanzania ($X per ton), while the average price for exports to Zambia ($X per ton) and Mozambique ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Tanzania (+5.5%), while the prices for the other major destinations experienced more modest paces of growth.

Ball Bearing Imports

Imports into South Africa

After two years of decline, supplies from abroad of ball bearings increased by 43% to X tons in 2021. Overall, imports recorded a relatively flat trend pattern. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, ball bearing imports surged to $X in 2021. In general, imports, however, recorded a relatively flat trend pattern. Over the period under review, imports hit record highs at $X in 2013; however, from 2014 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, China (X tons) constituted the largest ball bearing supplier to South Africa, with a 42% share of total imports. Moreover, ball bearing imports from China exceeded the figures recorded by the second-largest supplier, Japan (X tons), fourfold. The third position in this ranking was taken by the United States (X tons), with a 6.8% share.

From 2012 to 2021, the average annual growth rate of volume from China amounted to +8.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (-2.0% per year) and the United States (-0.3% per year).

In value terms, China ($X) constituted the largest supplier of ball bearings to South Africa, comprising 42% of total imports. The second position in the ranking was taken by Japan ($X), with an 11% share of total imports. It was followed by the United States, with a 6.9% share.

From 2012 to 2021, the average annual rate of growth in terms of value from China amounted to +5.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (-4.5% per year) and the United States (+0.0% per year).

Import Prices by Country

In 2021, the average ball bearing import price amounted to $X per ton, with an increase of 4.9% against the previous year. In general, the import price, however, continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2014 an increase of 7.3%. As a result, import price attained the peak level of $X per ton. From 2015 to 2021, the average import prices failed to regain momentum.

Prices varied noticeably country of origin: the country with the highest price was Hong Kong SAR ($X per ton), while the price for the United Arab Emirates ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Austria (+13.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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