Western Africa: Ball Bearing Parts Market 2024

Ball Bearing Parts Market Size in Western Africa

The West African ball bearing parts market rose slightly to $X in 2022, surging by X% against the previous year. Over the period under review, consumption recorded a noticeable decrease. The level of consumption peaked at $X in 2012; however, from 2013 to 2022, consumption failed to regain momentum.

Ball Bearing Parts Production in Western Africa

In value terms, ball bearing parts production expanded significantly to $X in 2022 estimated in export price. Overall, production continues to indicate a mild slump. The most prominent rate of growth was recorded in 2020 with an increase of X% against the previous year. The level of production peaked at $X in 2012; however, from 2013 to 2022, production failed to regain momentum.

Ball Bearing Parts Exports

Exports in Western Africa

In 2022, exports of parts of ball or roller bearings in Western Africa fell significantly to X tons, shrinking by X% against 2021. In general, exports recorded a sharp reduction. The pace of growth appeared the most rapid in 2017 with an increase of X%. Over the period under review, the exports attained the maximum at X tons in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

In value terms, ball bearing parts exports reduced to $X in 2022. Over the period under review, exports saw a sharp decrease. The most prominent rate of growth was recorded in 2018 with an increase of X% against the previous year. Over the period under review, the exports hit record highs at $X in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Ghana was the main exporting country with an export of about X kg, which resulted at X% of total exports. Sierra Leone (X kg) ranks second in terms of the total exports with an X% share, followed by Togo (X%), Benin (X%), Senegal (X%) and Mali (X%). Liberia (X kg) followed a long way behind the leaders.

Exports from Ghana decreased at an average annual rate of X% from 2012 to 2022. At the same time, Sierra Leone (X%) displayed positive paces of growth. Moreover, Sierra Leone emerged as the fastest-growing exporter exported in Western Africa, with a CAGR of X% from 2012-2022. By contrast, Mali (X%), Senegal (X%), Togo (X%), Benin (X%) and Liberia (X%) illustrated a downward trend over the same period. While the share of Sierra Leone (X p.p.), Ghana (X p.p.), Benin (X p.p.), Liberia (X p.p.) and Mali (X p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Senegal (X p.p.) and Togo (X p.p.) displayed negative dynamics.

In value terms, Senegal ($X), Sierra Leone ($X) and Ghana ($X) were the countries with the highest levels of exports in 2022, together accounting for X% of total exports.

Sierra Leone, with a CAGR of X%, saw the highest growth rate of the value of exports, in terms of the main exporting countries over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The export price in Western Africa stood at $X per ton in 2022, surging by X% against the previous year. In general, the export price, however, showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2016 an increase of X% against the previous year. The level of export peaked at $X per ton in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Senegal ($X per ton), while Liberia ($X per ton) was amongst the lowest.

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

Ball Bearing Parts Imports

Imports in Western Africa

In 2022, ball bearing parts imports in Western Africa reached X tons, almost unchanged from the previous year. Over the period under review, imports continue to indicate a significant expansion. The pace of growth was the most pronounced in 2020 when imports increased by X%. As a result, imports attained the peak of X tons. From 2021 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, ball bearing parts imports skyrocketed to $X in 2022. In general, imports posted a resilient increase. The pace of growth appeared the most rapid in 2013 with an increase of X% against the previous year. The level of import peaked in 2022 and is likely to continue growth in years to come.

Imports by Country

Nigeria prevails in imports structure, amounting to X tons, which was near X% of total imports in 2022. Senegal (X tons), Ghana (X tons) and Cote d'Ivoire (X tons) followed a long way behind the leaders.

Nigeria was also the fastest-growing in terms of the parts of ball or roller bearings imports, with a CAGR of X% from 2012 to 2022. At the same time, Senegal (X%) and Cote d'Ivoire (X%) displayed positive paces of growth. By contrast, Ghana (X%) illustrated a downward trend over the same period. While the share of Nigeria (X p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Cote d'Ivoire (X p.p.) and Ghana (X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Nigeria ($X) constitutes the largest market for imported parts of ball or roller bearings in Western Africa, comprising X% of total imports. The second position in the ranking was taken by Ghana ($X), with a X% share of total imports. It was followed by Senegal, with a X% share.

From 2012 to 2022, the average annual growth rate of value in Nigeria totaled X%. In the other countries, the average annual rates were as follows: Ghana (X% per year) and Senegal (X% per year).

Import Prices by Country

In 2022, the import price in Western Africa amounted to $X per ton, surging by X% against the previous year. Overall, the import price, however, showed a abrupt decrease. The most prominent rate of growth was recorded in 2021 when the import price increased by X%. Over the period under review, import prices reached the peak figure 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 importing countries. In 2022, amid the top importers, the country with the highest price was Ghana ($X per ton), while Nigeria ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Ghana (X%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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