Western Africa: Cylindrical Roller Bearing Market 2024

Cylindrical Roller Bearing Market Size in Western Africa

The West African cylindrical roller bearing market expanded slightly to $X in 2022, picking up by 2.8% against the previous year. Over the period under review, consumption posted a strong expansion. As a result, consumption attained the peak level of $X. From 2021 to 2022, the growth of the market remained at a somewhat lower figure.

Cylindrical Roller Bearing Production in Western Africa

In value terms, cylindrical roller bearing production rose rapidly to $X in 2022 estimated in export price. The total production indicated a resilient increase from 2012 to 2022: its value increased at an average annual rate of +5.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -8.7% against 2020 indices. The growth pace was the most rapid in 2020 when the production volume increased by 54%. As a result, production reached the peak level of $X. From 2021 to 2022, production growth failed to regain momentum.

Cylindrical Roller Bearing Exports

Exports in Western Africa

In 2022, shipments abroad of cylindrical roller bearings was finally on the rise to reach X tons after two years of decline. Overall, exports posted a strong increase. The pace of growth was the most pronounced in 2014 with an increase of 210%. The volume of export peaked at X tons in 2016; however, from 2017 to 2022, the exports failed to regain momentum.

In value terms, cylindrical roller bearing exports skyrocketed to $X in 2022. Over the period under review, exports recorded strong growth. The growth pace was the most rapid in 2016 when exports increased by 121% against the previous year. As a result, the exports reached the peak of $X. From 2017 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

In 2022, Ghana (X tons) was the key exporter of cylindrical roller bearings, mixing up 51% of total exports. Nigeria (X tons) held the second position in the ranking, distantly followed by Sierra Leone (X kg). All these countries together held near 43% share of total exports. Niger (X kg) took a minor share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the key exporting countries, was attained by Niger (with a CAGR of +54.0%), while the other leaders experienced more modest paces of growth.

In value terms, Ghana ($X) remains the largest cylindrical roller bearing supplier in Western Africa, comprising 58% of total exports. The second position in the ranking was held by Sierra Leone ($X), with a 20% share of total exports. It was followed by Nigeria, with an 8.3% share.

In Ghana, cylindrical roller bearing exports increased at an average annual rate of +20.1% over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: Sierra Leone (+20.6% per year) and Nigeria (-0.6% per year).

Export Prices by Country

The export price in Western Africa stood at $X per ton in 2022, dropping by -1.8% against the previous year. In general, the export price showed a abrupt setback. The growth pace was the most rapid in 2013 an increase of 6.9%. As a result, the export price reached the peak level of $X per ton. From 2014 to 2022, the export prices remained at a lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Niger (+1.5%), while the other leaders experienced a decline in the export price figures.

Cylindrical Roller Bearing Imports

Imports in Western Africa

In 2022, overseas purchases of cylindrical roller bearings decreased by -8.1% to X tons, falling for the second consecutive year after three years of growth. Over the period under review, imports, however, enjoyed significant growth. The most prominent rate of growth was recorded in 2020 when imports increased by 381%. As a result, imports reached the peak of X tons. From 2021 to 2022, the growth of imports failed to regain momentum.

In value terms, cylindrical roller bearing imports declined markedly to $X in 2022. In general, imports, however, recorded a remarkable increase. The most prominent rate of growth was recorded in 2020 when imports increased by 239% against the previous year. As a result, imports attained the peak of $X. From 2021 to 2022, the growth of imports remained at a somewhat lower figure.

Imports by Country

In 2022, Nigeria (X tons) represented the key importer of cylindrical roller bearings, committing 75% of total imports. It was distantly followed by Ghana (X tons), achieving a 14% share of total imports. Guinea (X tons), Cote d'Ivoire (X tons) and Senegal (X tons) followed a long way behind the leaders.

Nigeria was also the fastest-growing in terms of the cylindrical roller bearings imports, with a CAGR of +35.2% from 2012 to 2022. At the same time, Ghana (+23.3%), Guinea (+20.6%), Senegal (+14.8%) and Cote d'Ivoire (+8.8%) displayed positive paces of growth. From 2012 to 2022, the share of Nigeria increased by +34 percentage points.

In value terms, Nigeria ($X) constitutes the largest market for imported cylindrical roller bearings in Western Africa, comprising 68% of total imports. The second position in the ranking was taken by Ghana ($X), with a 9.6% share of total imports. It was followed by Guinea, with a 4.9% share.

In Nigeria, cylindrical roller bearing imports increased at an average annual rate of +23.5% over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: Ghana (+9.0% per year) and Guinea (+12.4% per year).

Import Prices by Country

In 2022, the import price in Western Africa amounted to $X per ton, reducing by -26.4% against the previous year. Overall, the import price recorded a deep downturn. The growth pace was the most rapid in 2015 an increase of 7.8% against the previous year. As a result, import price reached the peak level of $X per ton. From 2016 to 2022, the import prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Cote d'Ivoire ($X per ton), while Ghana ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Cote d'Ivoire (-3.2%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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