South Africa: Bearing Market 2024

Bearing Market Size in South Africa

In 2022, the South African bearing market increased by X% to $X, rising for the second consecutive year after two years of decline. The market value increased at an average annual rate of X% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. Bearing consumption peaked in 2022 and is likely to see steady growth in the near future.

Bearing Exports

Exports from South Africa

In 2022, approx. X tons of ball or roller bearings were exported from South Africa; which is down by X% on the year before. Over the period under review, exports saw a pronounced slump. The pace of growth was the most pronounced in 2021 with an increase of X% against the previous year. Over the period under review, the exports reached the maximum at X tons in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

In value terms, bearing exports declined to $X in 2022. Overall, exports continue to indicate a abrupt curtailment. The pace of growth appeared the most rapid in 2021 when exports increased by X%. Over the period under review, the exports hit record highs at $X in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

Exports by Country

Zambia (X tons), Namibia (X tons) and Zimbabwe (X tons) were the main destinations of bearing exports from South Africa, with a combined X% share of total exports. Botswana, Mozambique, Swaziland, the United States, Democratic Republic of the Congo, Tanzania, China, Brazil, Belgium and Angola lagged somewhat behind, together comprising a further X%.

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

In value terms, Zambia ($X), Zimbabwe ($X) and Namibia ($X) appeared to be the largest markets for bearing exported from South Africa worldwide, together comprising X% of total exports. Mozambique, Democratic Republic of the Congo, the United States, Botswana, Swaziland, China, Brazil, Belgium, Tanzania and Angola lagged somewhat behind, together accounting for a further X%.

Swaziland, with a CAGR of X%, recorded the highest growth rate of the value of exports, among the main countries of destination 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 bearing export price amounted to $X per ton, which is down by X% against the previous year. Overall, the export price continues to indicate a noticeable decline. The growth pace was the most rapid in 2016 an increase of X%. As a result, the export price reached the peak level of $X per ton. From 2017 to 2021, the average export prices failed to regain momentum.

There were significant differences in the average prices for the major overseas markets. In 2021, amid the top suppliers, the country with the highest price was Zimbabwe ($X per ton), while the average price for exports to Tanzania ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Zimbabwe (X%), while the prices for the other major destinations experienced mixed trend patterns.

Bearing Imports

Imports into South Africa

In 2022, overseas purchases of ball or roller bearings increased by X% to X tons, rising for the second consecutive year after two years of decline. In general, total imports indicated a measured increase from 2012 to 2022: its volume increased at an average annual rate of X% 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 X% against 2020 indices. The most prominent rate of growth was recorded in 2021 when imports increased by X%. Imports peaked in 2022 and are likely to see gradual growth in years to come.

In value terms, bearing imports rose markedly to $X in 2022. Overall, imports, however, continue to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2021 when imports increased by X%. Over the period under review, imports attained the peak figure at $X in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

Imports by Country

China (X tons), the United States (X tons) and Japan (X tons) were the main suppliers of bearing imports to South Africa, with a combined X% share of total imports. Germany, Thailand, India, Italy, Sweden, France, Hong Kong SAR, South Korea, Romania and the UK lagged somewhat behind, together accounting for a further X%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Thailand (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, China ($X), the United States ($X) and Germany ($X) constituted the largest bearing suppliers to South Africa, with a combined X% share of total imports. Japan, Thailand, Sweden, Italy, India, France, the UK, Hong Kong SAR, Romania and South Korea lagged somewhat behind, together accounting for a further X%.

In terms of the main suppliers, Romania, with a CAGR of X%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the average bearing import price amounted to $X per ton, rising by X% against the previous year. Over the period under review, the import price, however, showed a relatively flat trend pattern. The growth pace was the most rapid in 2020 when the average import price increased by X%. Over the period under review, average import prices attained the maximum at $X per ton in 2012; however, from 2013 to 2021, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the UK ($X per ton), while the price for Thailand ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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