South Africa: Needle Roller Bearing Market 2024

Needle Roller Bearing Market Size in South Africa

The South African needle roller bearing market declined to $X in 2021, reducing by -4.7% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Overall, consumption saw a sharp decline. Needle roller bearing consumption peaked at $X in 2013; however, from 2014 to 2021, consumption stood at a somewhat lower figure.

Needle Roller Bearing Exports

Exports from South Africa

In 2021, the amount of needle roller bearings exported from South Africa reduced notably to X tons, which is down by -27.2% compared with 2020. In general, exports showed a precipitous curtailment. The most prominent rate of growth was recorded in 2014 when exports increased by 50%. As a result, the exports reached the peak of X tons. From 2015 to 2021, the growth of the exports remained at a somewhat lower figure.

In value terms, needle roller bearing exports shrank remarkably to $X in 2021. Overall, total exports indicated a slight increase from 2012 to 2021: its value increased at an average annual rate of +1.5% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2017 when exports increased by 63% against the previous year. The exports peaked at $X in 2020, and then declined remarkably in the following year.

Exports by Country

Zambia (X tons) was the main destination for needle roller bearing exports from South Africa, with a 25% share of total exports. Moreover, needle roller bearing exports to Zambia exceeded the volume sent to the second major destination, Burundi (X tons), twofold. Swaziland (X tons) ranked third in terms of total exports with a 9.7% share.

From 2012 to 2021, the average annual growth rate of volume to Zambia amounted to -38.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Burundi (-30.8% per year) and Swaziland (-52.3% per year).

In value terms, Zambia ($X) emerged as the key foreign market for needle roller bearing exports from South Africa, comprising 28% of total exports. The second position in the ranking was taken by Swaziland ($X), with an 11% share of total exports. It was followed by Namibia, with a 10% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Zambia stood at +7.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Swaziland (+25.5% per year) and Namibia (-0.4% per year).

Export Prices by Country

The average needle roller bearing export price stood at $X per ton in 2021, with a decrease of -16% against the previous year. Over the period under review, the export price, however, recorded a significant increase. The pace of growth appeared the most rapid in 2016 an increase of 18,189%. The export price peaked at $X per ton in 2018; however, from 2019 to 2021, the export prices remained at a lower figure.

There were significant differences in the average prices for the major export markets. In 2021, the country with the highest price was the United States ($X per ton), while the average price for exports to Thailand ($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 Swaziland (+163.3%), while the prices for the other major destinations experienced more modest paces of growth.

Needle Roller Bearing Imports

Imports into South Africa

In 2021, needle roller bearing imports into South Africa dropped to X tons, shrinking by -7.3% against 2020 figures. Overall, imports faced a precipitous slump. The pace of growth was the most pronounced in 2018 with an increase of 21% against the previous year. Over the period under review, imports attained the maximum at X tons in 2013; however, from 2014 to 2021, imports stood at a somewhat lower figure.

In value terms, needle roller bearing imports rose remarkably to $X in 2021. In general, imports recorded a pronounced decrease. The most prominent rate of growth was recorded in 2018 with an increase of 24%. Over the period under review, imports reached the maximum at $X in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, Botswana (X tons) constituted the largest needle roller bearing supplier to South Africa, accounting for a 59% share of total imports. Moreover, needle roller bearing imports from Botswana exceeded the figures recorded by the second-largest supplier, China (X tons), threefold. The United States (X tons) ranked third in terms of total imports with a 4.7% share.

From 2012 to 2021, the average annual growth rate of volume from Botswana amounted to -34.3%. The remaining supplying countries recorded the following average annual rates of imports growth: China (-56.5% per year) and the United States (-68.4% per year).

In value terms, China ($X) constituted the largest supplier of needle roller bearing to South Africa, comprising 49% of total imports. The second position in the ranking was taken by the United States ($X), with a 12% share of total imports. It was followed by Japan, with an 11% share.

From 2012 to 2021, the average annual growth rate of value from China totaled +15.3%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (-16.3% per year) and Japan (-7.4% per year).

Import Prices by Country

The average needle roller bearing import price stood at $X per ton in 2021, picking up by 14% against the previous year. Over the period under review, the import price saw a significant expansion. The growth pace was the most rapid in 2016 an increase of 213,531% against the previous year. The import price peaked in 2021 and is expected to retain growth in the immediate term.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Botswana (+194.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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