South Africa: Spherical Roller Bearing Market 2024

Spherical Roller Bearing Market Size in South Africa

The South African spherical roller bearing market rose modestly to $X in 2021, with an increase of 3.5% against the previous year. In general, consumption recorded a significant increase. Over the period under review, the market hit record highs in 2021 and is likely to continue growth in the immediate term.

Spherical Roller Bearing Production in South Africa

In value terms, spherical roller bearing production shrank to $X in 2021 estimated in export price. In general, production, however, saw a remarkable increase. The most prominent rate of growth was recorded in 2019 when the production volume increased by 44%. Over the period under review, production attained the maximum level at $X in 2020, and then contracted in the following year.

Spherical Roller Bearing Exports

Exports from South Africa

Spherical roller bearing exports from South Africa soared to X tons in 2021, rising by 37% compared with 2020. In general, exports, however, continue to indicate a abrupt decrease. The most prominent rate of growth was recorded in 2017 with an increase of 75%. Over the period under review, the exports reached the peak figure at X tons in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

In value terms, spherical roller bearing exports surged to $X in 2021. Overall, exports saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2017 when exports increased by 63% against the previous year. Over the period under review, the exports reached the maximum at $X in 2019; however, from 2020 to 2021, the exports remained at a lower figure.

Exports by Country

Zambia (X tons) was the main destination for spherical roller bearing exports from South Africa, accounting for a 25% share of total exports. Moreover, spherical roller bearing exports to Zambia exceeded the volume sent to the second major destination, Zimbabwe (X tons), twofold. The third position in this ranking was held by Namibia (X tons), with an 8.6% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Zambia stood at -17.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Zimbabwe (+15.2% per year) and Namibia (-10.3% per year).

In value terms, Zambia ($X) remains the key foreign market for spherical roller bearings exports from South Africa, comprising 25% of total exports. The second position in the ranking was held by Zimbabwe ($X), with an 11% share of total exports. It was followed by Namibia, with an 8.6% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Zambia stood at +1.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Zimbabwe (+12.8% per year) and Namibia (+13.4% per year).

Export Prices by Country

The average spherical roller bearing export price stood at $X per ton in 2021, reducing by -4.7% against the previous year. In general, the export price, however, posted a resilient expansion. The pace of growth was the most pronounced in 2014 an increase of 75% against the previous year. Over the period under review, the average export prices hit record highs at $X per ton in 2019; however, from 2020 to 2021, the export prices remained at a lower figure.

Average prices varied noticeably for the major overseas markets. In 2021, the countries with the highest prices were Ethiopia ($X per ton) and China ($X per ton), while the average price for exports to Zambia ($X per ton) and Democratic Republic of the Congo ($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 Ethiopia (+31.4%), while the prices for the other major destinations experienced more modest paces of growth.

Spherical Roller Bearing Imports

Imports into South Africa

After two years of decline, overseas purchases of spherical roller bearings increased by 39% to X tons in 2021. Overall, imports, however, showed a slight reduction. Imports peaked at X tons in 2012; however, from 2013 to 2021, imports failed to regain momentum.

In value terms, spherical roller bearing imports soared to $X in 2021. Over the period under review, imports, however, showed a relatively flat trend pattern. Imports peaked at $X in 2014; however, from 2015 to 2021, imports remained at a lower figure.

Imports by Country

Japan (X tons), China (X tons) and Germany (X tons) were the main suppliers of spherical roller bearing imports to South Africa, with a combined 54% share of total imports. Sweden, the United States, Hong Kong SAR, South Korea, the UK, the United Arab Emirates, Romania and Thailand lagged somewhat behind, together comprising a further 40%.

From 2012 to 2021, the biggest increases were recorded for Hong Kong SAR (with a CAGR of +165.7%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest spherical roller bearing suppliers to South Africa were Japan ($X), China ($X) and Germany ($X), with a combined 54% share of total imports. These countries were followed by Sweden, the United States, Hong Kong SAR, South Korea, the UK, Romania, the United Arab Emirates and Thailand, which together accounted for a further 40%.

Hong Kong SAR, with a CAGR of +162.9%, recorded the highest growth rate of the value of imports, among the main suppliers 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 spherical roller bearing import price amounted to $X per ton, stabilizing at the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +1.0%. The pace of growth appeared the most rapid in 2020 an increase of 3.6%. The import price peaked in 2021 and is expected to retain growth in years to come.

Average prices varied somewhat amongst the major supplying countries. In 2021, the countries with the highest prices were Sweden ($X per ton) and Romania ($X per ton), while the price for the United Arab Emirates ($X per ton) and the UK ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (+29.1%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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