Kenya: Bearing Market 2024

Bearing Market Size in Kenya

The Kenyan bearing market reached $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). The market 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. Bearing consumption peaked at $X in 2020; however, from 2021 to 2022, consumption failed to regain momentum.

Bearing Exports

Exports from Kenya

Bearing exports from Kenya fell remarkably to X tons in 2022, shrinking by X% against the previous year's figure. Overall, exports recorded a perceptible setback. The most prominent rate of growth was recorded in 2013 when exports increased by X%. As a result, the exports reached the peak of X tons. From 2014 to 2022, the growth of the exports remained at a lower figure.

In value terms, bearing exports shrank notably to $X in 2022. Over the period under review, exports saw a abrupt shrinkage. The growth pace was the most rapid in 2013 when exports increased by X%. As a result, the exports attained the peak of $X. From 2014 to 2022, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Rwanda (X tons) was the main destination for bearing exports from Kenya, accounting for a X% share of total exports. Moreover, bearing exports to Rwanda exceeded the volume sent to the second major destination, Nigeria (X kg), more than tenfold. The third position in this ranking was held by Burundi (X kg), with a X% share.

From 2012 to 2022, the average annual growth rate of volume to Rwanda totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Nigeria (X% per year) and Burundi (X% per year).

In value terms, Burundi ($X), Rwanda ($X) and Tanzania ($X) constituted the largest markets for bearing exported from Kenya worldwide, together comprising X% of total exports.

Burundi, with a CAGR of X%, saw the highest rates of growth with regard to the value of exports, among 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, waning by X% against the previous year. Over the period under review, the export price recorded a deep reduction. The pace of growth was the most pronounced in 2013 an increase of X%. As a result, the export price attained the peak level of $X per ton. From 2014 to 2022, the average export prices remained at a lower figure.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Tanzania ($X per ton), while the average price for exports to Rwanda ($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 Egypt (X%), while the prices for the other major destinations experienced more modest paces of growth.

Bearing Imports

Imports into Kenya

In 2022, imports of ball or roller bearings into Kenya was estimated at X tons, growing by X% compared with the previous year. Overall, total imports indicated buoyant growth 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, imports decreased by X% against 2020 indices. The pace of growth appeared the most rapid in 2013 when imports increased by X% against the previous year. Over the period under review, imports attained the peak figure at X tons in 2020; however, from 2021 to 2022, imports remained at a lower figure.

In value terms, bearing imports shrank to $X in 2022. The total import 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 2013 when imports increased by X%. Over the period under review, imports hit record highs at $X in 2016; however, from 2017 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, China (X tons) constituted the largest supplier of bearing to Kenya, with a X% share of total imports. Moreover, bearing imports from China exceeded the figures recorded by the second-largest supplier, Japan (X tons), sevenfold. India (X tons) ranked third in terms of total imports with an X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (X% per year) and India (X% per year).

In value terms, the largest bearing suppliers to Kenya were China ($X), India ($X) and Japan ($X), together comprising X% of total imports.

Japan, with a CAGR of X%, recorded the highest rates of growth with regard to 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, reducing by X% against the previous year. Overall, the import price recorded a pronounced decline. The pace of growth appeared the most rapid in 2021 when the average import price increased by X%. The import price peaked at $X per ton in 2013; however, from 2014 to 2022, import prices stood at a somewhat lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Germany (X%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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