Tanzania: Roller Bearing Market 2024

Roller Bearing Market Size in Tanzania

For the third year in a row, the Tanzanian roller bearing market recorded growth in sales value, which increased by 13% to $X in 2022. Overall, consumption, however, continues to indicate a perceptible contraction. Over the period under review, the market reached the peak level at $X in 2012; however, from 2013 to 2022, consumption stood at a somewhat lower figure.

Roller Bearing Exports

Exports from Tanzania

In 2022, the amount of roller bearings exported from Tanzania soared to X tons, increasing by 218% against 2021. Over the period under review, exports posted a buoyant expansion. The pace of growth appeared the most rapid in 2018 when exports increased by 1,188%. Over the period under review, the exports attained the maximum at X tons in 2014; however, from 2015 to 2022, the exports failed to regain momentum.

In value terms, roller bearing exports skyrocketed to $X in 2022. Overall, exports posted perceptible growth. The most prominent rate of growth was recorded in 2018 with an increase of 347% against the previous year. Over the period under review, the exports attained the maximum at $X in 2015; however, from 2016 to 2022, the exports failed to regain momentum.

Exports by Country

China represented the largest exporting country with an export of around X tons, which recorded 43% of total exports. Singapore (X tons) took a 9.7% share (based on physical terms) of total exports, which put it in second place, followed by Germany (7.2%), France (6.9%), Slovakia (5.4%) and the United States (0.8%). The following exporters - Italy (X tons), South Korea (X tons), Indonesia (X tons), Hong Kong SAR (X tons), Turkey (X tons), Austria (X tons) and Romania (X tons) - together made up 14% of total exports.

From 2012 to 2022, average annual rates of growth with regard to roller bearing exports from China stood at +22.6%. At the same time, Indonesia (+35.7%), Turkey (+8.5%), Singapore (+1.2%) and Slovakia (+1.1%) displayed positive paces of growth. Moreover, Indonesia emerged as the fastest-growing exporter exported in the world, with a CAGR of +35.7% from 2012-2022. By contrast, Italy (-1.9%), Germany (-2.0%), France (-2.2%), South Korea (-9.7%), Hong Kong SAR (-13.7%), the United States (-18.4%), Austria (-22.3%) and Romania (-22.4%) illustrated a downward trend over the same period. While the share of China (+37 p.p.) and Indonesia (+2.2 p.p.) increased significantly in terms of the global exports from 2012-2022, the share of Italy (-1.5 p.p.), Germany (-2.6 p.p.), France (-2.7 p.p.), Romania (-4.9 p.p.), Hong Kong SAR (-6 p.p.), South Korea (-6.3 p.p.), the United States (-6.4 p.p.) and Austria (-7.2 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest roller bearing supplying countries from Tanzania were China ($X), Singapore ($X) and Germany ($X), together comprising 45% of total exports. Italy, the United States, France, Hong Kong SAR, Slovakia, South Korea, Austria, Turkey, Indonesia and Romania lagged somewhat behind, together accounting for a further 31%.

Indonesia, with a CAGR of +16.1%, saw the highest rates of growth with regard to the value of exports, in terms of the main exporting countries over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The export price in Tanzania stood at $X per ton in 2022, waning by -46.2% against the previous year. Overall, the export price recorded a abrupt curtailment. The growth pace was the most rapid in 2013 an increase of 272% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2014 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was the United States ($X per ton), while Indonesia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+16.3%), while the other leaders experienced more modest paces of growth.

Roller Bearing Imports

Imports into Tanzania

For the third consecutive year, Tanzania recorded growth in overseas purchases of roller bearings, which increased by 11% to X tons in 2022. Over the period under review, total imports indicated a modest increase from 2012 to 2022: its volume increased at an average annual rate of +1.9% 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 +68.2% against 2017 indices. The growth pace was the most rapid in 2018 when imports increased by 33%. Tanzania imports peaked in 2022 and are expected to retain growth in the immediate term.

In value terms, roller bearing imports surged to $X in 2022. Overall, imports, however, recorded a pronounced setback. The pace of growth was the most pronounced in 2020 with an increase of 36% against the previous year. Over the period under review, imports attained the maximum at $X in 2012; however, from 2013 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, Thailand (X tons) and Indonesia (X tons) were the largest importers of roller bearingsin the world, together reaching near 32% of total imports. It was distantly followed by Germany (X tons), generating a 6.2% share of total imports. India (X tons), Italy (X tons), Canada (X tons), Malaysia (X tons), Spain (X tons), South Korea (X tons), France (X tons), Singapore (X tons), Poland (X tons) and Austria (X tons) held a minor share of total imports.

From 2012 to 2022, the biggest increases were recorded for Thailand (with a CAGR of +18.5%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Indonesia ($X), Germany ($X) and India ($X) appeared to be the countries with the highest levels of imports in 2022, together accounting for 24% of total imports.

Among the main importing countries, Indonesia, with a CAGR of +4.2%, saw the highest rates of growth with regard to 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

The import price in Tanzania stood at $X per ton in 2022, with an increase of 4.4% against the previous year. Overall, the import price, however, saw a deep reduction. The pace of growth appeared the most rapid in 2017 when the import price increased by 27%. Tanzania import price peaked at $X per ton in 2012; however, from 2013 to 2022, import prices stood at a somewhat lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by France (+6.9%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform