Jordan: Bearing Market 2024

Bearing Market Size in Jordan

The Jordanian bearing market shrank slightly to $X in 2022, leveling off at 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). Overall, consumption continues to indicate a pronounced setback. Over the period under review, the market hit record highs at $X in 2014; however, from 2015 to 2022, consumption failed to regain momentum.

Bearing Exports

Exports from Jordan

In 2022, approx. X tons of ball or roller bearings were exported from Jordan; growing by X% against the year before. Overall, exports saw a resilient increase. The pace of growth was the most pronounced in 2021 with an increase of X% against the previous year. Over the period under review, the exports reached the peak figure at X tons in 2015; however, from 2016 to 2022, the exports remained at a lower figure.

In value terms, bearing exports expanded notably to $X in 2022. Over the period under review, exports saw a resilient increase. The pace of growth was the most pronounced in 2021 when exports increased by X%. 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

Iraq (X tons), Free Zones (X tons) and the United Arab Emirates (X tons) were the main destinations of bearing exports from Jordan, with a combined X% share of total exports. Turkey, Saudi Arabia and the UK lagged somewhat behind, together accounting for a further X%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Turkey (with a CAGR of X%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for bearing exported from Jordan were Free Zones ($X), Iraq ($X) and the United Arab Emirates ($X), with a combined X% share of total exports. Turkey, Saudi Arabia and the UK lagged somewhat behind, together accounting for a further X%.

Turkey, with a CAGR of X%, saw the highest growth rate of 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

The average bearing export price stood at $X per ton in 2022, shrinking by X% against the previous year. Over the period under review, the export price, however, showed a relatively flat trend pattern. The growth pace was the most rapid in 2020 when the average export price increased by X%. Over the period under review, the average export prices reached the maximum at $X per ton in 2021, and then reduced notably in the following year.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Sudan (X%), while the prices for the other major destinations experienced more modest paces of growth.

Bearing Imports

Imports into Jordan

In 2022, the amount of ball or roller bearings imported into Jordan shrank to X tons, reducing by X% compared with 2021. Overall, imports continue to indicate a deep contraction. The growth pace was the most rapid in 2019 when imports increased by X% against the previous year. Over the period under review, imports attained the peak figure at X tons in 2015; however, from 2016 to 2022, imports failed to regain momentum.

In value terms, bearing imports expanded remarkably to $X in 2022. Over the period under review, imports, however, recorded a relatively flat trend pattern. The growth pace was the most rapid in 2019 with an increase of X% against the previous year. Over the period under review, imports hit record highs at $X in 2015; however, from 2016 to 2022, imports remained at a lower figure.

Imports by Country

China (X tons), Japan (X tons) and Germany (X tons) were the main suppliers of bearing imports to Jordan, together comprising X% of total imports. The United States, Romania, the UK, South Korea and France lagged somewhat behind, together accounting for a further X%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Romania (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest bearing suppliers to Jordan were Germany ($X), Japan ($X) and China ($X), together accounting for X% of total imports. The United States, South Korea, France, Romania and the UK lagged somewhat behind, together accounting for a further X%.

Romania, 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

The average bearing import price stood at $X per ton in 2022, rising by X% against the previous year. Over the period under review, the import price continues to indicate a strong expansion. The pace of growth appeared the most rapid in 2020 when the average import price increased by X% against the previous year. Over the period under review, average import prices attained the peak figure in 2022 and is likely to see steady growth in the near future.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was France ($X per ton), while the price for Romania ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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