Africa's Spherical Roller Bearing Market to Reach 14K Tons and $288M by 2035

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This article provides a comprehensive analysis of the spherical roller bearing market in Africa for 2024, with a forecast to 2035. It details that consumption in 2024 was 14K tons (valued at $265M), following recent declines but showing overall growth from 2013. Key consuming countries are Egypt, South Africa, and Kenya. Production was 9.5K tons ($199M), led by Egypt, Kenya, and South Africa. Imports fell to 4.2K tons ($67M), with South Africa and Nigeria as major importers, while exports were 291 tons ($6.4M), dominated by South Africa. The market is forecast to reach 14K tons ($288M) by 2035, with a decelerating growth rate.

Key Findings

• Market forecast to reach 14K tons and $288M by 2035, indicating continued but slowing growth
• Consumption in 2024 fell to 14K tons ($265M), marking a third consecutive annual decline
• Egypt, South Africa, and Kenya are the largest consumers, together accounting for over half the market
• Nigeria shows the most dynamic growth in both consumption and import volume over the past decade
• South Africa is the continent's dominant exporter and a leading importer by value

Market Forecast

Driven by increasing demand for spherical roller bearings in Africa, the market is expected to continue an upward consumption trend over the next decade. Market performance is forecast to decelerate, expanding with an anticipated CAGR of +0.6% for the period from 2024 to 2035, which is projected to bring the market volume to 14K tons by the end of 2035.

In value terms, the market is forecast to increase with an anticipated CAGR of +0.8% for the period from 2024 to 2035, which is projected to bring the market value to $288M (in nominal wholesale prices) by the end of 2035.

Consumption

Africa's Consumption of Spherical Roller Bearings

In 2024, consumption of spherical roller bearings decreased by -7.6% to 14K tons, falling for the third consecutive year after nine years of growth. In general, consumption, however, posted a pronounced expansion. As a result, consumption reached the peak volume of 25K tons. From 2022 to 2024, the growth of the consumption remained at a somewhat lower figure.

The value of the spherical roller bearing market in Africa declined slightly to $265M in 2024, with a decrease of -4.6% 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). The total consumption indicated noticeable growth from 2013 to 2024: its value increased at an average annual rate of +2.9% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2024 figures, consumption decreased by -31.1% against 2021 indices. As a result, consumption reached the peak level of $385M. From 2022 to 2024, the growth of the market remained at a lower figure.

Consumption By Country

The countries with the highest volumes of consumption in 2024 were Egypt (2.6K tons), South Africa (2.2K tons) and Kenya (2.2K tons), with a combined 52% share of total consumption. Nigeria, Ghana, Somalia and Niger lagged somewhat behind, together comprising a further 32%.

From 2013 to 2024, the biggest increases were recorded for Nigeria (with a CAGR of +24.4%), while consumption for the other leaders experienced more modest paces of growth.

In value terms, the largest spherical roller bearing markets in Africa were Egypt ($50M), Kenya ($47M) and South Africa ($43M), together accounting for 53% of the total market. Ghana, Somalia, Nigeria and Niger lagged somewhat behind, together accounting for a further 30%.

Among the main consuming countries, Nigeria, with a CAGR of +24.5%, saw the highest growth rate of market size over the period under review, while market for the other leaders experienced more modest paces of growth.

The countries with the highest levels of spherical roller bearing per capita consumption in 2024 were Somalia (59 kg per 1000 persons), Kenya (37 kg per 1000 persons) and South Africa (36 kg per 1000 persons).

From 2013 to 2024, the most notable rate of growth in terms of consumption, amongst the leading consuming countries, was attained by Nigeria (with a CAGR of +21.2%), while consumption for the other leaders experienced more modest paces of growth.

Production

Africa's Production of Spherical Roller Bearings

Spherical roller bearing production fell slightly to 9.5K tons in 2024, leveling off at 2023 figures. The total output volume increased at an average annual rate of +2.1% over the period from 2013 to 2024; the trend pattern remained relatively stable, with only minor fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2019 with an increase of 7.9% against the previous year. Over the period under review, production reached the maximum volume at 9.9K tons in 2022; however, from 2023 to 2024, production stood at a somewhat lower figure.

In value terms, spherical roller bearing production dropped modestly to $199M in 2024 estimated in export price. The total output value increased at an average annual rate of +2.3% from 2013 to 2024; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2018 with an increase of 16%. Over the period under review, production reached the peak level at $201M in 2023, and then reduced slightly in the following year.

Production By Country

The countries with the highest volumes of production in 2024 were Egypt (2.4K tons), Kenya (2K tons) and South Africa (1.2K tons), together comprising 59% of total production.

From 2013 to 2024, the most notable rate of growth in terms of production, amongst the leading producing countries, was attained by South Africa (with a CAGR of +5.5%), while production for the other leaders experienced more modest paces of growth.

Imports

Africa's Imports of Spherical Roller Bearings

In 2024, purchases abroad of spherical roller bearings decreased by -19.1% to 4.2K tons, falling for the third year in a row after three years of growth. Over the period under review, imports, however, posted strong growth. The pace of growth was the most pronounced in 2021 when imports increased by 169%. As a result, imports attained the peak of 16K tons. From 2022 to 2024, the growth of imports remained at a somewhat lower figure.

In value terms, spherical roller bearing imports soared to $67M in 2024. Total imports indicated measured growth from 2013 to 2024: its value increased at an average annual rate of +3.9% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2021 with an increase of 71% against the previous year. As a result, imports reached the peak of $68M. From 2022 to 2024, the growth of imports failed to regain momentum.

Imports By Country

Nigeria (1.4K tons) and South Africa (1.3K tons) represented roughly 65% of total imports in 2024. It was distantly followed by Morocco (191 tons), constituting a 4.5% share of total imports. Egypt (187 tons), Kenya (158 tons), Algeria (155 tons), Ghana (96 tons), Tunisia (84 tons), Tanzania (79 tons) and Cote d'Ivoire (79 tons) followed a long way behind the leaders.

From 2013 to 2024, the biggest increases were recorded for Nigeria (with a CAGR of +24.4%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, South Africa ($26M) constitutes the largest market for imported spherical roller bearings in Africa, comprising 38% of total imports. The second position in the ranking was taken by Nigeria ($11M), with a 16% share of total imports. It was followed by Egypt, with a 5.5% share.

In South Africa, spherical roller bearing imports remained relatively stable over the period from 2013-2024. In the other countries, the average annual rates were as follows: Nigeria (+31.9% per year) and Egypt (+21.6% per year).

Import Prices By Country

In 2024, the import price in Africa amounted to $15,839 per ton, with an increase of 45% against the previous year. Over the period under review, the import price, however, saw a mild slump. The pace of growth appeared the most rapid in 2022 an increase of 140%. The level of import peaked at $19,181 per ton in 2013; however, from 2014 to 2024, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2024, amid the top importers, the country with the highest price was Tunisia ($22,645 per ton), while Nigeria ($7,740 per ton) was amongst the lowest.

From 2013 to 2024, the most notable rate of growth in terms of prices was attained by Nigeria (+6.1%), while the other leaders experienced more modest paces of growth.

Exports

Africa's Exports of Spherical Roller Bearings

In 2024, the amount of spherical roller bearings exported in Africa totaled 291 tons, picking up by 4.9% against 2023. Total exports indicated a notable expansion from 2013 to 2024: its volume increased at an average annual rate of +3.9% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2024 figures, exports decreased by -25.8% against 2022 indices. The pace of growth appeared the most rapid in 2017 with an increase of 67% against the previous year. The volume of export peaked at 392 tons in 2022; however, from 2023 to 2024, the exports stood at a somewhat lower figure.

In value terms, spherical roller bearing exports expanded notably to $6.4M in 2024. In general, exports showed a perceptible expansion. The growth pace was the most rapid in 2014 when exports increased by 65%. The level of export peaked at $7.6M in 2022; however, from 2023 to 2024, the exports failed to regain momentum.

Exports By Country

South Africa prevails in exports structure, amounting to 270 tons, which was near 93% of total exports in 2024. Zambia (9.9 tons) and Morocco (6.8 tons) took a relatively small share of total exports.

From 2013 to 2024, average annual rates of growth with regard to spherical roller bearing exports from South Africa stood at +4.4%. At the same time, Morocco (+65.3%) and Zambia (+23.4%) displayed positive paces of growth. Moreover, Morocco emerged as the fastest-growing exporter exported in Africa, with a CAGR of +65.3% from 2013-2024. While the share of South Africa (+4.6 p.p.), Zambia (+2.9 p.p.) and Morocco (+2.3 p.p.) increased significantly, the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, South Africa ($5.8M) remains the largest spherical roller bearing supplier in Africa, comprising 91% of total exports. The second position in the ranking was held by Zambia ($277K), with a 4.3% share of total exports.

From 2013 to 2024, the average annual rate of growth in terms of value in South Africa amounted to +4.3%. The remaining exporting countries recorded the following average annual rates of exports growth: Zambia (+26.2% per year) and Morocco (+54.0% per year).

Export Prices By Country

In 2024, the export price in Africa amounted to $21,950 per ton, growing by 5.3% against the previous year. In general, the export price saw a relatively flat trend pattern. The growth pace was the most rapid in 2022 an increase of 11% against the previous year. The level of export peaked at $22,161 per ton in 2014; however, from 2015 to 2024, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Zambia ($28,013 per ton), while Morocco ($17,448 per ton) was amongst the lowest.

From 2013 to 2024, the most notable rate of growth in terms of prices was attained by Zambia (+2.3%), while the other leaders experienced a decline in the export price figures.