Africa's Tapered Roller Bearings Market to Grow at a CAGR of +0.1% from 2024 to 2035, Reaching 26K Tons by 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 - Tapered Roller Bearings - Market Analysis, Forecast, Size, Trends And Insights.

The article discusses the rising consumption trend of tapered roller bearings in Africa, with market performance forecasted to continue upwards but at a decelerated pace. It predicts a +0.1% CAGR for market volume and +1.7% CAGR for market value from 2024 to 2035, ultimately reaching 26K tons and $370M respectively by the end of 2035.

Driven by increasing demand for tapered 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 +0.1% for the period from 2024 to 2035, which is projected to bring the market volume to 26K tons by the end of 2035.

In value terms, the market is forecast to increase with an anticipated CAGR of +1.7% for the period from 2024 to 2035, which is projected to bring the market value to $370M (in nominal wholesale prices) by the end of 2035.

In 2024, after two years of decline, there was significant growth in consumption of tapered roller bearings, when its volume increased by 27% to 26K tons. Overall, consumption recorded a strong expansion. The volume of consumption peaked at 32K tons in 2021; however, from 2022 to 2024, consumption failed to regain momentum.

The value of the tapered roller bearing market in Africa stood at $308M in 2024, with an increase of 12% 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 market value increased at an average annual rate of +2.6% over the period from 2013 to 2024; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. Over the period under review, the market hit record highs at $333M in 2021; however, from 2022 to 2024, consumption failed to regain momentum.

The countries with the highest volumes of consumption in 2024 were Nigeria (8.1K tons), South Africa (7.8K tons) and Angola (3.7K tons), with a combined 75% share of total consumption.

From 2013 to 2024, the biggest increases were recorded for Nigeria (with a CAGR of +32.7%), while consumption for the other leaders experienced more modest paces of growth.

In value terms, South Africa ($109M), Angola ($59M) and Nigeria ($43M) were the countries with the highest levels of market value in 2024, together accounting for 69% of the total market.

Nigeria, with a CAGR of +30.6%, saw the highest growth rate of market size among the main consuming countries over the period under review, while market for the other leaders experienced more modest paces of growth.

The countries with the highest levels of tapered roller bearing per capita consumption in 2024 were Gambia (261 kg per 1000 persons), Guinea-Bissau (222 kg per 1000 persons) and South Africa (126 kg per 1000 persons).

From 2013 to 2024, the most notable rate of growth in terms of consumption, amongst the leading consuming countries, was attained by Nigeria (with a CAGR of +29.2%), while consumption for the other leaders experienced more modest paces of growth.

In 2024, production of tapered roller bearings decreased by -3.1% to 10K tons, falling for the fourth consecutive year after two years of growth. The total output volume increased at an average annual rate of +1.8% over the period from 2013 to 2024; the trend pattern remained relatively stable, with only minor fluctuations in certain years. The pace of growth appeared the most rapid in 2019 when the production volume increased by 11% against the previous year. Over the period under review, production hit record highs at 12K tons in 2020; however, from 2021 to 2024, production remained at a lower figure.

In value terms, tapered roller bearing production fell slightly to $164M in 2024 estimated in export price. In general, production, however, showed a relatively flat trend pattern. The growth pace was the most rapid in 2020 when the production volume increased by 12%. As a result, production attained the peak level of $180M. From 2021 to 2024, production growth remained at a somewhat lower figure.

The countries with the highest volumes of production in 2024 were South Africa (4K tons), Angola (3.4K tons) and Burundi (1.5K tons), together comprising 87% of total production. Gambia, Guinea-Bissau and Mauritius lagged somewhat behind, together accounting for a further 13%.

From 2013 to 2024, the biggest increases were recorded for Gambia (with a CAGR of +3.9%), while production for the other leaders experienced more modest paces of growth.

In 2024, overseas purchases of tapered roller bearings increased by 53% to 17K tons for the first time since 2021, thus ending a two-year declining trend. In general, imports recorded a remarkable increase. The growth pace was the most rapid in 2020 when imports increased by 116% against the previous year. The volume of import peaked at 22K tons in 2021; however, from 2022 to 2024, imports failed to regain momentum.

In value terms, tapered roller bearing imports rose markedly to $130M in 2024. The total import value increased at an average annual rate of +1.6% over the period from 2013 to 2024; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2021 when imports increased by 29% against the previous year. The level of import peaked in 2024 and is likely to see gradual growth in the near future.

Nigeria represented the largest importer of tapered roller bearings in Africa, with the volume of imports resulting at 8.1K tons, which was near 48% of total imports in 2024. It was distantly followed by South Africa (4.7K tons), committing a 28% share of total imports. Algeria (533 tons), Sudan (464 tons), Morocco (381 tons), Egypt (348 tons), Angola (314 tons), Ghana (297 tons) and Kenya (257 tons) took a little share of total imports.

From 2013 to 2024, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by Nigeria (with a CAGR of +32.5%), while imports for the other leaders experienced more modest paces of growth.

In value terms, South Africa ($66M) constitutes the largest market for imported tapered roller bearings in Africa, comprising 50% of total imports. The second position in the ranking was held by Nigeria ($12M), with a 9% share of total imports. It was followed by Algeria, with a 5.3% share.

In South Africa, tapered roller bearing imports remained relatively stable over the period from 2013-2024. The remaining importing countries recorded the following average annual rates of imports growth: Nigeria (+14.7% per year) and Algeria (+1.7% per year).

The import price in Africa stood at $7,701 per ton in 2024, waning by -27.3% against the previous year. Overall, the import price recorded a deep downturn. The most prominent rate of growth was recorded in 2022 when the import price increased by 81% against the previous year. The level of import peaked at $15,686 per ton in 2013; however, from 2014 to 2024, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2024, amid the top importers, the country with the highest price was Ghana ($19,185 per ton), while Nigeria ($1,447 per ton) was amongst the lowest.

From 2013 to 2024, the most notable rate of growth in terms of prices was attained by Morocco (+1.0%), while the other leaders experienced a decline in the import price figures.

In 2024, exports of tapered roller bearings in Africa rose slightly to 997 tons, surging by 2.8% compared with 2023 figures. Over the period under review, exports, however, continue to indicate a pronounced shrinkage. The pace of growth was the most pronounced in 2017 with an increase of 50% against the previous year. The volume of export peaked at 1.3K tons in 2013; however, from 2014 to 2024, the exports stood at a somewhat lower figure.

In value terms, tapered roller bearing exports rose slightly to $16M in 2024. Overall, exports, however, saw a perceptible downturn. The most prominent rate of growth was recorded in 2018 with an increase of 32% against the previous year. The level of export peaked at $23M in 2013; however, from 2014 to 2024, the exports failed to regain momentum.

South Africa dominates exports structure, reaching 902 tons, which was near 91% of total exports in 2024. Namibia (35 tons) and Nigeria (18 tons) followed a long way behind the leaders.

Exports from South Africa decreased at an average annual rate of -2.7% from 2013 to 2024. At the same time, Nigeria (+10.8%) and Namibia (+4.4%) displayed positive paces of growth. Moreover, Nigeria emerged as the fastest-growing exporter exported in Africa, with a CAGR of +10.8% from 2013-2024. While the share of Namibia (+1.8 p.p.) increased significantly in terms of the total exports from 2013-2024, the share of South Africa (-6 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, South Africa ($14M) remains the largest tapered roller bearing supplier in Africa, comprising 91% of total exports. The second position in the ranking was held by Namibia ($395K), with a 2.5% share of total exports.

In South Africa, tapered roller bearing exports plunged by an average annual rate of -3.9% over the period from 2013-2024. The remaining exporting countries recorded the following average annual rates of exports growth: Namibia (+14.1% per year) and Nigeria (+12.8% per year).

In 2024, the export price in Africa amounted to $15,738 per ton, stabilizing at the previous year. Over the period under review, the export price recorded a slight shrinkage. The most prominent rate of growth was recorded in 2016 when the export price increased by 30%. As a result, the export price reached the peak level of $19,358 per ton. From 2017 to 2024, the export prices remained at a lower figure.

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 South Africa ($15,886 per ton), while Nigeria ($10,475 per ton) was amongst the lowest.

From 2013 to 2024, the most notable rate of growth in terms of prices was attained by Namibia (+9.3%), 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 tapered 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