Africa's Cylindrical Roller Bearings Market to Witness Moderate Growth with a CAGR of +1.7% from 2024 to 2035 - News and Statistics - IndexBox

Get instant access to more than 2 million reports, dashboards, and datasets on the IndexBox Platform.

IndexBox has just published a new report: Africa - Cylindrical Roller Bearings - Market Analysis, Forecast, Size, Trends And Insights.

The article discusses the rising demand for cylindrical roller bearings in Africa, projecting a positive outlook for the market in terms of both volume and value. By 2035, the market is expected to reach 13K tons in volume and $417M in value (nominal wholesale prices), showcasing steady growth trends over the forecast period.

Driven by increasing demand for cylindrical roller bearings in Africa, the market is expected to continue an upward consumption trend over the next decade. Market performance is forecast to decelerate, expanding with an anticipated CAGR of +1.7% for the period from 2024 to 2035, which is projected to bring the market volume to 13K tons by the end of 2035.

In value terms, the market is forecast to increase with an anticipated CAGR of +2.1% for the period from 2024 to 2035, which is projected to bring the market value to $417M (in nominal wholesale prices) by the end of 2035.

In 2024, approx. 11K tons of cylindrical roller bearings were consumed in Africa; surging by 1.9% compared with 2023 figures. The total consumption indicated a moderate increase from 2013 to 2024: its volume increased at an average annual rate of +3.7% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2024 figures, consumption decreased by -10.5% against 2022 indices. The volume of consumption peaked at 12K tons in 2022; however, from 2023 to 2024, consumption remained at a lower figure.

The size of the cylindrical roller bearing market in Africa rose to $331M in 2024, increasing by 3.5% against 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 total consumption indicated a measured expansion from 2013 to 2024: its value increased at an average annual rate of +4.4% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2024 figures, consumption increased by +62.3% against 2016 indices. The level of consumption peaked in 2024 and is expected to retain growth in years to come.

The countries with the highest volumes of consumption in 2024 were Ghana (2.1K tons), Somalia (1.9K tons) and Niger (1.7K tons), with a combined 52% share of total consumption. Burundi, Sierra Leone, Central African Republic, Nigeria, South Africa, Gambia and Angola lagged somewhat behind, together accounting for a further 37%.

From 2013 to 2024, the most notable rate of growth in terms of consumption, amongst the key consuming countries, was attained by Nigeria (with a CAGR of +26.5%), while consumption for the other leaders experienced more modest paces of growth.

In value terms, Ghana ($71M), Somalia ($57M) and Niger ($52M) appeared to be the countries with the highest levels of market value in 2024, with a combined 54% share of the total market. Burundi, Sierra Leone, Central African Republic, South Africa, Gambia, Nigeria and Angola lagged somewhat behind, together accounting for a further 37%.

Among the main consuming countries, Nigeria, with a CAGR of +23.1%, recorded the highest growth rate of market size over the period under review, while market for the other leaders experienced more modest paces of growth.

The countries with the highest levels of cylindrical roller bearing per capita consumption in 2024 were Gambia (158 kg per 1000 persons), Central African Republic (126 kg per 1000 persons) and Somalia (105 kg per 1000 persons).

From 2013 to 2024, the most notable rate of growth in terms of consumption, amongst the key consuming countries, was attained by Nigeria (with a CAGR of +23.3%), while consumption for the other leaders experienced more modest paces of growth.

In 2024, production of cylindrical roller bearings decreased by -1.9% to 8.3K tons for the first time since 2020, thus ending a three-year rising trend. The total production indicated a noticeable expansion from 2013 to 2024: its volume increased at an average annual rate of +2.8% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2024 figures, production decreased by -30.3% against 2019 indices. The pace of growth appeared the most rapid in 2019 with an increase of 61%. As a result, production attained the peak volume of 12K tons. From 2020 to 2024, production growth remained at a somewhat lower figure.

In value terms, cylindrical roller bearing production declined to $272M in 2024 estimated in export price. The total production indicated a notable expansion from 2013 to 2024: its value increased at an average annual rate of +4.0% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2024 figures, production decreased by -16.0% against 2019 indices. The pace of growth was the most pronounced in 2019 with an increase of 63% against the previous year. As a result, production attained the peak level of $324M. From 2020 to 2024, production growth remained at a lower figure.

The countries with the highest volumes of production in 2024 were Somalia (1.9K tons), Ghana (1.8K tons) and Niger (1.7K tons), with a combined 66% share of total production.

From 2013 to 2024, the most notable rate of growth in terms of production, amongst the main producing countries, was attained by Niger (with a CAGR of +4.3%), while production for the other leaders experienced more modest paces of growth.

In 2024, approx. 2.8K tons of cylindrical roller bearings were imported in Africa; picking up by 8.5% compared with the previous year. Overall, imports continue to indicate strong growth. The most prominent rate of growth was recorded in 2020 with an increase of 79%. Over the period under review, imports hit record highs at 4.4K tons in 2022; however, from 2023 to 2024, imports stood at a somewhat lower figure.

In value terms, cylindrical roller bearing imports stood at $56M in 2024. Total imports indicated a moderate increase from 2013 to 2024: its value increased at an average annual rate of +4.7% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2024 figures, imports increased by +69.7% against 2015 indices. The most prominent rate of growth was recorded in 2020 when imports increased by 28%. The level of import peaked in 2024 and is expected to retain growth in the immediate term.

Nigeria (637 tons) and South Africa (579 tons) represented the key importers of cylindrical roller bearings in 2024, reaching near 23% and 21% of total imports, respectively. Ghana (254 tons) held the next position in the ranking, followed by Angola (240 tons) and Kenya (153 tons). All these countries together took approx. 24% share of total imports. The following importers - Morocco (117 tons), Algeria (81 tons), Democratic Republic of the Congo (75 tons), Tanzania (60 tons) and Mozambique (55 tons) - together made up 14% of total imports.

From 2013 to 2024, the biggest increases were recorded for Ghana (with a CAGR of +38.1%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, South Africa ($24M) constitutes the largest market for imported cylindrical roller bearings in Africa, comprising 43% of total imports. The second position in the ranking was held by Nigeria ($3.7M), with a 6.7% share of total imports. It was followed by Angola, with a 6.6% share.

In South Africa, cylindrical roller bearing imports expanded at an average annual rate of +2.6% over the period from 2013-2024. The remaining importing countries recorded the following average annual rates of imports growth: Nigeria (+14.1% per year) and Angola (+9.8% per year).

The import price in Africa stood at $20,214 per ton in 2024, shrinking by -3.3% against the previous year. Over the period under review, the import price continues to indicate a mild decline. The growth pace was the most rapid in 2023 when the import price increased by 81% against the previous year. The level of import peaked at $24,882 per ton in 2013; however, from 2014 to 2024, import prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was South Africa ($41,707 per ton), while Ghana ($3,478 per ton) was amongst the lowest.

From 2013 to 2024, the most notable rate of growth in terms of prices was attained by Mozambique (+6.5%), while the other leaders experienced more modest paces of growth.

In 2024, the amount of cylindrical roller bearings exported in Africa fell dramatically to 103 tons, waning by -59.2% compared with 2023. Over the period under review, exports recorded a noticeable contraction. The most prominent rate of growth was recorded in 2019 when exports increased by 1,227% against the previous year. As a result, the exports attained the peak of 4.6K tons. From 2020 to 2024, the growth of the exports failed to regain momentum.

In value terms, cylindrical roller bearing exports dropped dramatically to $3.7M in 2024. Overall, exports, however, continue to indicate a strong increase. The most prominent rate of growth was recorded in 2019 when exports increased by 275% against the previous year. As a result, the exports attained the peak of $12M. From 2020 to 2024, the growth of the exports remained at a somewhat lower figure.

South Africa prevails in exports structure, finishing at 92 tons, which was approx. 89% of total exports in 2024. Zambia (2.8 tons) and Namibia (1.8 tons) followed a long way behind the leaders.

From 2013 to 2024, average annual rates of growth with regard to cylindrical roller bearing exports from South Africa stood at +5.7%. At the same time, Zambia (+10.2%) and Namibia (+1.3%) displayed positive paces of growth. Moreover, Zambia emerged as the fastest-growing exporter exported in Africa, with a CAGR of +10.2% from 2013-2024. While the share of South Africa (+60 p.p.) and Zambia (+2.1 p.p.) increased significantly, the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, South Africa ($3.3M) remains the largest cylindrical roller bearing supplier in Africa, comprising 91% of total exports. The second position in the ranking was taken by Zambia ($161K), with a 4.4% share of total exports.

From 2013 to 2024, the average annual rate of growth in terms of value in South Africa amounted to +6.6%. The remaining exporting countries recorded the following average annual rates of exports growth: Zambia (+16.0% per year) and Namibia (-12.7% per year).

The export price in Africa stood at $35,707 per ton in 2024, growing by 4.2% against the previous year. Over the period under review, the export price recorded strong growth. The pace of growth was the most pronounced in 2020 an increase of 1,092% against the previous year. The level of export peaked in 2024 and is expected to retain growth in the immediate term.

There were significant differences in the average prices amongst the major exporting countries. In 2024, amid the top suppliers, the country with the highest price was Zambia ($58,085 per ton), while Namibia ($14,804 per ton) was amongst the lowest.

From 2013 to 2024, the most notable rate of growth in terms of prices was attained by Zambia (+5.2%), while the other leaders experienced mixed trends in the export price figures.

Source: IndexBox Market Intelligence Platform

This report provides an in-depth analysis of the cylindrical roller bearing market in Africa. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

Making Data-Driven Decisions to Grow Your Business

A Quick Overview of Market Performance

Understanding the Current State of The Market and its Prospects

Finding New Products to Diversify Your Business

Choosing the Best Countries to Establish Your Sustainable Supply Chain

Choosing the Best Countries to Boost Your Export

The Latest Trends and Insights into The Industry

The Largest Import Supplying Countries

The Largest Destinations for Exports

The Largest Producers on The Market and Their Profiles

The Largest Markets And Their Profiles