Ethiopia: Roller Bearing Market 2024

Roller Bearing Market Size in Ethiopia

In 2023, after two years of decline, there was significant growth in the Ethiopian roller bearing market, when its value increased by X% to $X. Over the period under review, consumption, however, continues to indicate a pronounced downturn. Over the period under review, the market hit record highs at $X in 2017; however, from 2018 to 2023, consumption stood at a somewhat lower figure.

Roller Bearing Exports

Exports from Ethiopia

In 2023, the amount of roller bearings exported from Ethiopia soared to X kg, jumping by X% against the year before. In general, exports posted significant growth. The most prominent rate of growth was recorded in 2016 with an increase of X%. Over the period under review, the exports attained the peak figure at X kg in 2021; however, from 2022 to 2023, the exports stood at a somewhat lower figure.

In value terms, roller bearing exports surged to $X in 2023. Overall, exports continue to indicate a resilient increase. The pace of growth appeared the most rapid in 2016 with an increase of X% against the previous year. Over the period under review, the exports attained the peak figure at $X in 2017; however, from 2018 to 2023, the exports stood at a somewhat lower figure.

Exports by Country

In 2023, China (X tons) represented the major exporter of roller bearings, mixing up X% of total exports. It was distantly followed by Germany (X tons), France (X tons), Singapore (X tons), Slovakia (X tons) and Italy (X tons), together constituting a X% share of total exports. South Korea (X tons), the United States (X tons), Vietnam (X tons), the Netherlands (X tons), Turkey (X tons), Hong Kong SAR (X tons) and Austria (X tons) followed a long way behind the leaders.

China was also the fastest-growing in terms of the roller bearings exports, with a CAGR of X% from 2012 to 2023. At the same time, the Netherlands (X%), Vietnam (X%) and Turkey (X%) displayed positive paces of growth. Germany and Slovakia experienced a relatively flat trend pattern. By contrast, Italy (X%), France (X%), Singapore (X%), the United States (X%), South Korea (X%), Hong Kong SAR (X%) and Austria (X%) illustrated a downward trend over the same period. China (X p.p.), Vietnam (X p.p.) and the Netherlands (X p.p.) significantly strengthened its position in terms of the global exports, while France, Singapore, Hong Kong SAR, the United States, South Korea and Austria saw its share reduced by X%, X%, X%, X%, X% and X% from 2012 to 2023, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X), Germany ($X) and Italy ($X) constituted the countries with the highest levels of exports in 2023, with a combined X% share of total exports. The United States, Singapore, France, Vietnam, the Netherlands, Hong Kong SAR, Slovakia, Turkey, South Korea and Austria lagged somewhat behind, together comprising a further X%.

In terms of the main exporting countries, Vietnam, with a CAGR of X%, recorded the highest growth rate of the value of exports, 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 Ethiopia stood at $X per ton in 2023, with a decrease of X% against the previous year. Overall, the export price faced a deep contraction. The growth pace was the most rapid in 2018 an increase of X% against the previous year. Over the period under review, the export prices attained the peak figure at $X per ton in 2013; however, from 2014 to 2023, the export prices remained at a lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2023, amid the top suppliers, the country with the highest price was the United States ($X per ton), while China ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Austria (X%), while the other leaders experienced more modest paces of growth.

Roller Bearing Imports

Imports into Ethiopia

In 2023, supplies from abroad of roller bearings was finally on the rise to reach X tons for the first time since 2020, thus ending a two-year declining trend. Overall, imports, however, continue to indicate a drastic downturn. The growth pace was the most rapid in 2014 when imports increased by X%. Ethiopia imports peaked at X tons in 2017; however, from 2018 to 2023, imports remained at a lower figure.

In value terms, roller bearing imports skyrocketed to $X in 2023. Over the period under review, imports, however, showed a pronounced descent. The most prominent rate of growth was recorded in 2014 with an increase of X%. Ethiopia imports peaked at $X in 2017; however, from 2018 to 2023, imports stood at a somewhat lower figure.

Imports by Country

In 2023, Indonesia (X tons), followed by Thailand (X tons), India (X tons) and Germany (X tons) represented the key importers of roller bearings, together committing X% of total imports. South Korea (X tons), Italy (X tons), Canada (X tons), Poland (X tons), Nigeria (X tons), France (X tons), Austria (X tons), Spain (X tons) and Malaysia (X tons) held a little share of total imports.

From 2012 to 2023, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by Malaysia (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest roller bearing importing markets into Ethiopia were Germany ($X), India ($X) and Indonesia ($X), with a combined X% share of total imports. Canada, Thailand, Poland, Italy, France, Malaysia, South Korea, Austria, Spain and Nigeria lagged somewhat behind, together comprising a further X%.

Poland, with a CAGR of X%, saw the highest rates of growth with regard to the value of imports, in terms of 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

In 2023, the import price in Ethiopia amounted to $X per ton, surging by X% against the previous year. In general, import price indicated a buoyant increase from 2012 to 2023: its price increased at an average annual rate of X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, roller bearing import price decreased by X% against 2021 indices. The pace of growth appeared the most rapid in 2021 an increase of X% against the previous year. As a result, import price attained the peak level of $X per ton. From 2022 to 2023, the import prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Canada ($X per ton), while Nigeria ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by France (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform