Western Africa: Market for Bearing Housings Incorporating Ball Or Roller Bearings 2025

Market Size for Bearing Housings Incorporating Ball Or Roller Bearings in Western Africa

In 2022, the West African market for bearing housings incorporating ball or roller bearings increased by 24% to $X, rising for the sixth consecutive year after two years of decline. Over the period under review, consumption saw resilient growth. Over the period under review, the market attained the peak level in 2022 and is expected to retain growth in the immediate term.

Production of Bearing Housings Incorporating Ball Or Roller Bearings in Western Africa

In value terms, bearing housing with ball bearing production reduced modestly to $X in 2022 estimated in export price. Overall, production, however, recorded buoyant growth. The most prominent rate of growth was recorded in 2014 with an increase of 68%. Over the period under review, production reached the maximum level at $X in 2019; however, from 2020 to 2022, production remained at a lower figure.

Exports of Bearing Housings Incorporating Ball Or Roller Bearings

Exports in Western Africa

After two years of growth, shipments abroad of bearing housings incorporating ball or roller bearings decreased by -21.9% to X tons in 2022. Overall, exports showed a deep slump. The growth pace was the most rapid in 2015 with an increase of 95%. Over the period under review, the exports attained the maximum at X tons in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

In value terms, bearing housing with ball bearing exports dropped slightly to $X in 2022. Over the period under review, exports, however, showed a temperate increase. The growth pace was the most rapid in 2015 when exports increased by 104%. Over the period under review, the exports attained the peak figure at $X in 2013; however, from 2014 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Nigeria (X tons) and Ghana (X tons) prevails in exports structure, together mixing up 82% of total exports. Sierra Leone (X kg) ranks next in terms of the total exports with a 9.2% share, followed by Senegal (4.8%).

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main exporting countries, was attained by Ghana (with a CAGR of +13.4%), while the other leaders experienced mixed trends in the exports figures.

In value terms, Nigeria ($X) remains the largest bearing housing with ball bearing supplier in Western Africa, comprising 64% of total exports. The second position in the ranking was taken by Ghana ($X), with a 16% share of total exports. It was followed by Sierra Leone, with a 10% share.

From 2012 to 2022, the average annual growth rate of value in Nigeria amounted to +10.9%. The remaining exporting countries recorded the following average annual rates of exports growth: Ghana (+6.0% per year) and Sierra Leone (+3.1% per year).

Export Prices by Country

The export price in Western Africa stood at $X per ton in 2022, rising by 26% against the previous year. Overall, the export price recorded prominent growth. The pace of growth was the most pronounced in 2013 when the export price increased by 444% against the previous year. Over the period under review, the export prices attained the maximum at $X per ton in 2019; however, from 2020 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 Nigeria ($X per ton), while Ghana ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Nigeria (+31.2%), while the other leaders experienced more modest paces of growth.

Imports of Bearing Housings Incorporating Ball Or Roller Bearings

Imports in Western Africa

In 2022, purchases abroad of bearing housings incorporating ball or roller bearings increased by 130% to X tons, rising for the sixth year in a row after four years of decline. Over the period under review, imports recorded prominent growth. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, bearing housing with ball bearing imports soared to $X in 2022. Overall, imports showed a buoyant expansion. The pace of growth was the most pronounced in 2013 with an increase of 114%. Over the period under review, imports reached the maximum in 2022 and are likely to see gradual growth in the near future.

Imports by Country

Nigeria dominates imports structure, accounting for X tons, which was approx. 93% of total imports in 2022. Ghana (X tons) took a little share of total imports.

From 2012 to 2022, average annual rates of growth with regard to bearing housing with ball bearing imports into Nigeria stood at +12.4%. At the same time, Ghana (+24.6%) displayed positive paces of growth. Moreover, Ghana emerged as the fastest-growing importer imported in Western Africa, with a CAGR of +24.6% from 2012-2022. Ghana (+2.2 p.p.) significantly strengthened its position in terms of the total imports, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Nigeria ($X) constitutes the largest market for imported bearing housings incorporating ball or roller bearings in Western Africa, comprising 78% of total imports. The second position in the ranking was held by Ghana ($X), with a 5.9% share of total imports.

In Nigeria, bearing housing with ball bearing imports increased at an average annual rate of +12.6% over the period from 2012-2022.

Import Prices by Country

The import price in Western Africa stood at $X per ton in 2022, which is down by -15.5% against the previous year. In general, the import price saw a mild shrinkage. The pace of growth was the most pronounced in 2013 an increase of 142% against the previous year. The level of import peaked at $X per ton in 2016; however, from 2017 to 2022, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Ghana ($X per ton), while Nigeria stood at $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Nigeria (+0.2%).

Source: IndexBox Platform

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