Angola: Bearing Market 2024

Bearing Market Size in Angola

The Angolan bearing market rose remarkably to $X in 2022, growing by X% against the previous year. Over the period under review, consumption, however, saw a noticeable curtailment. Bearing consumption peaked at $X in 2013; however, from 2014 to 2022, consumption stood at a somewhat lower figure.

Bearing Production in Angola

In value terms, bearing production rose slightly to $X in 2022 estimated in export price. Over the period under review, production, however, showed a perceptible slump. The pace of growth appeared the most rapid in 2016 when the production volume increased by X% against the previous year. Over the period under review, production hit record highs at $X in 2012; however, from 2013 to 2022, production stood at a somewhat lower figure.

Bearing Exports

Exports from Angola

After two years of decline, overseas shipments of ball or roller bearings increased by X% to X tons in 2022. Over the period under review, exports continue to indicate significant growth. The growth pace was the most rapid in 2019 with an increase of X% against the previous year. The exports peaked at X tons in 2015; however, from 2016 to 2022, the exports stood at a somewhat lower figure.

In value terms, bearing exports skyrocketed to $X in 2022. Overall, exports showed a significant expansion. Over the period under review, the exports hit record highs at $X in 2015; however, from 2016 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

The United Arab Emirates (X tons) was the main destination for bearing exports from Angola, accounting for a X% share of total exports. Moreover, bearing exports to the United Arab Emirates exceeded the volume sent to the second major destination, Mauritania (X tons), threefold. The third position in this ranking was taken by Spain (X kg), with an X% share.

From 2013 to 2022, the average annual rate of growth in terms of volume to the United Arab Emirates was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Mauritania (X% per year) and Spain (X% per year).

In value terms, the largest markets for bearing exported from Angola were Cote d'Ivoire ($X), Belgium ($X) and the United Arab Emirates ($X), together accounting for X% of total exports.

Cote d'Ivoire, with a CAGR of X%, saw the highest rates of growth with regard to the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average bearing export price amounted to $X per ton, shrinking by X% against the previous year. Over the period under review, the export price, however, enjoyed a strong expansion. The pace of growth was the most pronounced in 2021 when the average export price increased by X% against the previous year. Over the period under review, the average export prices reached the peak figure at $X per ton in 2017; however, from 2018 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the United States ($X per ton), while the average price for exports to Spain ($X per ton) was amongst the lowest.

From 2013 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Democratic Republic of the Congo (X%), while the prices for the other major destinations experienced more modest paces of growth.

Bearing Imports

Imports into Angola

In 2022, approx. X tons of ball or roller bearings were imported into Angola; jumping by X% against the year before. Overall, imports continue to indicate notable growth. Over the period under review, imports reached the peak figure at X tons in 2014; afterwards, it flattened through to 2022.

In value terms, bearing imports skyrocketed to $X in 2022. In general, imports, however, continue to indicate a pronounced curtailment. Imports peaked at $X in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, China (X tons) constituted the largest bearing supplier to Angola, with a X% share of total imports. Moreover, bearing imports from China exceeded the figures recorded by the second-largest supplier, Portugal (X tons), twofold. The third position in this ranking was taken by South Africa (X tons), with a X% share.

From 2012 to 2022, the average annual growth rate of volume from China stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: Portugal (X% per year) and South Africa (X% per year).

In value terms, Portugal ($X), China ($X) and South Africa ($X) were the largest bearing suppliers to Angola, with a combined X% share of total imports. The United States, Belgium, the United Arab Emirates, Japan and Nigeria lagged somewhat behind, together accounting for a further X%.

The United Arab Emirates, with a CAGR of X%, recorded the highest growth rate of the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average bearing import price amounted to $X per ton, shrinking by X% against the previous year. Over the period under review, the import price saw a deep setback. The most prominent rate of growth was recorded in 2015 when the average import price increased by X%. The import price peaked at $X per ton in 2012; however, from 2013 to 2022, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Belgium ($X per ton), while the price for China ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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