Africa: Ball Bearing Market 2024

Ball Bearing Market Size in Africa

In 2022, the African ball bearing market increased by X% to $X, rising for the second year in a row after two years of decline. The market value increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The level of consumption peaked in 2022 and is expected to retain growth in the immediate term.

Ball Bearing Production in Africa

In value terms, ball bearing production dropped slightly to $X in 2022 estimated in export price. The total output value increased at an average annual rate of X% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2018 when the production volume increased by X% against the previous year. As a result, production reached the peak level of $X. From 2019 to 2022, production growth remained at a somewhat lower figure.

Ball Bearing Exports

Exports in Africa

In 2022, ball bearing exports in Africa contracted notably to X tons, waning by X% on 2021. Total exports indicated a modest expansion from 2012 to 2022: its volume increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by X% against 2020 indices. The most prominent rate of growth was recorded in 2021 when exports increased by X%. As a result, the exports reached the peak of X tons, and then dropped significantly in the following year.

In value terms, ball bearing exports soared to $X in 2022. Overall, exports, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 with an increase of X%. Over the period under review, the exports hit record highs in 2022 and are likely to see gradual growth in the immediate term.

Exports by Country

South Africa dominates exports structure, amounting to X tons, which was approx. X% of total exports in 2022. It was distantly followed by Zambia (X tons), generating a X% share of total exports.

Exports from South Africa increased at an average annual rate of X% from 2012 to 2022. At the same time, Zambia (X%) displayed positive paces of growth. Moreover, Zambia emerged as the fastest-growing exporter exported in Africa, with a CAGR of X% from 2012-2022. Zambia (X p.p.) and South Africa (X p.p.) significantly strengthened its position in terms of the total exports, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, South Africa ($X) remains the largest ball bearing supplier in Africa, comprising X% of total exports. The second position in the ranking was held by Zambia ($X), with a X% share of total exports.

In South Africa, ball bearing exports remained relatively stable over the period from 2012-2022.

Export Prices by Country

The export price in Africa stood at $X per ton in 2022, jumping by X% against the previous year. In general, the export price, however, continues to indicate a relatively flat trend pattern. Over the period under review, the export prices hit record highs at $X per ton in 2014; however, from 2015 to 2022, the export prices remained at a lower figure.

Average prices varied somewhat amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was South Africa ($X per ton), while Zambia amounted to $X per ton.

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

Ball Bearing Imports

Imports in Africa

In 2022, overseas purchases of ball bearings increased by X% to X tons, rising for the sixth year in a row after two years of decline. In general, imports continue to indicate resilient growth. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, ball bearing imports rose markedly to $X in 2022. The total import value increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern remained relatively stable, with somewhat noticeable fluctuations in certain years. The growth pace was the most rapid in 2021 with an increase of X%. Over the period under review, imports attained the peak figure in 2022 and are expected to retain growth in the immediate term.

Imports by Country

Nigeria represented the main importer of ball bearings in Africa, with the volume of imports amounting to X tons, which was near X% of total imports in 2022. South Africa (X tons) held the second position in the ranking, followed by Algeria (X tons). All these countries together held near X% share of total imports. The following importers - Ghana (X tons), Angola (X tons), Morocco (X tons), Kenya (X tons), Sudan (X tons), Ethiopia (X tons), Tunisia (X tons), Egypt (X tons) and Tanzania (X tons) - together made up X% of total imports.

Nigeria was also the fastest-growing in terms of the ball bearings imports, with a CAGR of X% from 2012 to 2022. At the same time, Ghana (X%), Kenya (X%), Ethiopia (X%), Angola (X%), Sudan (X%), Tanzania (X%), South Africa (X%) and Morocco (X%) displayed positive paces of growth. Algeria and Tunisia experienced a relatively flat trend pattern. By contrast, Egypt (X%) illustrated a downward trend over the same period. While the share of Nigeria (X p.p.) and Ghana (X p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Sudan (X p.p.), Tunisia (X p.p.), Morocco (X p.p.), South Africa (X p.p.), Algeria (X p.p.) and Egypt (X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest ball bearing importing markets in Africa were South Africa ($X), Nigeria ($X) and Egypt ($X), with a combined X% share of total imports.

Nigeria, with a CAGR of X%, saw the highest rates of growth with regard to the value of imports, among the main importing countries 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 Africa stood at $X per ton in 2022, shrinking by X% against the previous year. Over the period under review, the import price continues to indicate a abrupt decline. The pace of growth was the most pronounced in 2013 when the import price increased by X%. As a result, import price reached the peak level of $X per ton. From 2014 to 2022, the import prices failed to regain momentum.

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 Egypt ($X per ton), while Nigeria ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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