Western Africa - Ball Bearings - Market Analysis, Forecast, Size, Trends and Insights
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View PricingWestern Africa: Ball Bearing Market 2024
Ball Bearing Market Size in Western Africa
After seven years of growth, the West African ball bearing market decreased by X% to $X in 2023. In general, consumption, however, posted a resilient increase. The level of consumption peaked at $X in 2022, and then fell in the following year.
Ball Bearing Production in Western Africa
In value terms, ball bearing production expanded slightly to $X in 2023 estimated in export price. Over the period under review, production, however, posted measured growth. The most prominent rate of growth was recorded in 2017 when the production volume increased by X%. The level of production peaked at $X in 2021; however, from 2022 to 2023, production remained at a lower figure.
Ball Bearing Exports
Exports in Western Africa
In 2023, overseas shipments of ball bearings decreased by X% to X tons for the first time since 2019, thus ending a three-year rising trend. Overall, exports, however, showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2013 when exports increased by X% against the previous year. The volume of export peaked at X tons in 2014; however, from 2015 to 2023, the exports failed to regain momentum.
In value terms, ball bearing exports expanded modestly to $X in 2023. In general, exports continue to indicate a pronounced reduction. The pace of growth appeared the most rapid in 2014 with an increase of X% against the previous year. As a result, the exports attained the peak of $X. From 2015 to 2023, the growth of the exports remained at a lower figure.
Exports by Country
Burkina Faso (X tons), Sierra Leone (X tons), Ghana (X tons) and Nigeria (X tons) represented roughly X% of total exports in 2023. The following exporters - Liberia (X kg), Senegal (X kg) and Cote d'Ivoire (X kg) - together made up X% of total exports.
From 2012 to 2023, the most notable rate of growth in terms of shipments, amongst the key exporting countries, was attained by Burkina Faso (with a CAGR of X%), while the other leaders experienced more modest paces of growth.
In value terms, Ghana ($X), Sierra Leone ($X) and Burkina Faso ($X) appeared to be the countries with the highest levels of exports in 2023, together accounting for X% of total exports.
Burkina Faso, with a CAGR of X%, recorded the highest rates of growth with regard to the value of exports, among 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 2023, surging by X% against the previous year. In general, the export price, however, recorded a noticeable decline. The pace of growth was the most pronounced in 2014 when the export price increased by X% against the previous year. Over the period under review, the export prices reached the maximum at $X per ton in 2019; however, from 2020 to 2023, the export prices failed to regain momentum.
There were significant differences in the average prices amongst the major exporting countries. In 2023, amid the top suppliers, the country with the highest price was Cote d'Ivoire ($X per ton), while Burkina Faso ($X per ton) was amongst the lowest.
From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Cote d'Ivoire (X%), while the other leaders experienced a decline in the export price figures.
Ball Bearing Imports
Imports in Western Africa
In 2023, overseas purchases of ball bearings decreased by X% to X tons for the first time since 2015, thus ending a seven-year rising trend. In general, imports, however, showed significant growth. The pace of growth appeared the most rapid in 2022 with an increase of X%. As a result, imports reached the peak of X tons, and then shrank markedly in the following year.
In value terms, ball bearing imports shrank rapidly to $X in 2023. Over the period under review, imports, however, enjoyed resilient growth. The growth pace was the most rapid in 2022 with an increase of X% against the previous year. As a result, imports reached the peak of $X, and then shrank markedly in the following year.
Imports by Country
In 2023, Nigeria (X tons) represented the key importer of ball bearings, mixing up X% of total imports. It was distantly followed by Ghana (X tons), comprising a X% share of total imports. Guinea (X tons), Cote d'Ivoire (X tons) and Benin (X tons) followed a long way behind the leaders.
From 2012 to 2023, average annual rates of growth with regard to ball bearing imports into Nigeria stood at X%. At the same time, Benin (X%), Guinea (X%), Cote d'Ivoire (X%) and Ghana (X%) displayed positive paces of growth. Moreover, Benin emerged as the fastest-growing importer imported in Western Africa, with a CAGR of X% from 2012-2023. Nigeria (X p.p.) and Benin (X p.p.) significantly strengthened its position in terms of the total imports, while Cote d'Ivoire and Ghana saw its share reduced by X% and X% from 2012 to 2023, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.
In value terms, Nigeria ($X) constitutes the largest market for imported ball bearings in Western Africa, comprising X% of total imports. The second position in the ranking was held by Ghana ($X), with a X% share of total imports. It was followed by Cote d'Ivoire, with a X% share.
From 2012 to 2023, 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 Cote d'Ivoire (X% per year).
Import Prices by Country
In 2023, the import price in Western Africa amounted to $X per ton, falling by X% against the previous year. Over the period under review, the import price continues to indicate a deep downturn. The growth pace was the most rapid in 2014 an increase of X%. As a result, import price attained the peak level of $X per ton. From 2015 to 2023, the import prices remained at a somewhat lower figure.
Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Cote d'Ivoire ($X per ton), while Benin ($X per ton) was amongst the lowest.
From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Cote d'Ivoire (X%), while the other leaders experienced a decline in the import price figures.
Source: IndexBox Platform
This report provides an in-depth analysis of the ball bearing market in Western 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.
Product coverage:
- Prodcom 28151030 - Ball bearings
Country coverage:
- Benin
- Burkina Faso
- Cabo Verde
- Cote d'Ivoire
- Gambia
- Ghana
- Guinea
- Guinea-Bissau
- Liberia
- Mali
- Mauritania
- Niger
- Nigeria
- Saint Helena, Ascension and Tristan da Cunha
- Senegal
- Sierra Leone
- Togo
Data coverage:
- Market volume and value
- Per Capita consumption
- Forecast of the market dynamics in the medium term
- Production in Western Africa, split by region and country
- Trade (exports and imports) in Western Africa
- Export and import prices
- Market trends, drivers and restraints
- Key market players and their profiles
Reasons to buy this report:
- Take advantage of the latest data
- Find deeper insights into current market developments
- Discover vital success factors affecting the market
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:
- How to diversify your business and benefit from new market opportunities
- How to load your idle production capacity
- How to boost your sales on overseas markets
- How to increase your profit margins
- How to make your supply chain more sustainable
- How to reduce your production and supply chain costs
- How to outsource production to other countries
- How to prepare your business for global expansion
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.
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1. INTRODUCTION
Making Data-Driven Decisions to Grow Your Business
- REPORT DESCRIPTION
- RESEARCH METHODOLOGY AND AI PLATFORM
- DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
- GLOSSARY AND SPECIFIC TERMS
-
2. EXECUTIVE SUMMARY
A Quick Overview of Market Performance
- KEY FINDINGS
- MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
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3. MARKET OVERVIEW
Understanding the Current State of The Market and Its Prospects
- MARKET SIZE
- CONSUMPTION BY COUNTRY
- MARKET FORECAST TO 2030
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4. MOST PROMISING PRODUCT
Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO- TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
- BEST-SELLING PRODUCTS
- MOST CONSUMED PRODUCT
- MOST TRADED PRODUCT
- MOST PROFITABLE PRODUCT FOR EXPORT
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5. MOST PROMISING SUPPLYING COUNTRIES
Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO- TOP COUNTRIES TO SOURCE YOUR PRODUCT
- TOP PRODUCING COUNTRIES
- TOP EXPORTING COUNTRIES
- LOW-COST EXPORTING COUNTRIES
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6. MOST PROMISING OVERSEAS MARKETS
Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO- TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
- TOP CONSUMING MARKETS
- UNSATURATED MARKETS
- TOP IMPORTING MARKETS
- MOST PROFITABLE MARKETS
7. PRODUCTION
The Latest Trends and Insights into The Industry
- PRODUCTION VOLUME AND VALUE
- PRODUCTION BY COUNTRY
8. IMPORTS
The Largest Importers on The Market and How They Succeed
- IMPORTS FROM 2012–2023
- IMPORTS BY COUNTRY
- IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Exporters on The Market and How They Succeed
- EXPORTS FROM 2012–2023
- EXPORTS BY COUNTRY
- EXPORT PRICES BY COUNTRY
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10. PROFILES OF MAJOR PRODUCERS
The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO -
11. COUNTRY PROFILES
The Largest Markets And Their Profiles
This Chapter is Available Only for the Professional Edition PRO- Benin
- Burkina Faso
- Cabo Verde
- Gambia
- Ghana
- Guinea
- Guinea-Bissau
- Liberia
- Mali
- Mauritania
- Niger
- Nigeria
- Saint Helena, Ascension and Tristan da Cunha
- Senegal
- Sierra Leone
- Togo
- Cote d'Ivoire
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LIST OF TABLES
- Key Findings In 2023
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Per Capita Consumption, By Country, 2018–2023
- Production, In Physical Terms, By Country, 2012–2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Destination, 2012–2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Origin, 2012–2023
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LIST OF FIGURES
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Consumption, By Country, 2023
- Market Volume Forecast to 2030
- Market Value Forecast to 2030
- Products: Market Size And Growth, By Type
- Products: Average Per Capita Consumption, By Type
- Products: Exports And Growth, By Type
- Products: Export Prices And Growth, By Type
- Production Volume And Growth
- Exports And Growth
- Export Prices And Growth
- Market Size And Growth
- Per Capita Consumption
- Imports And Growth
- Import Prices
- Production, In Physical Terms, 2012–2023
- Production, In Value Terms, 2012–2023
- Production, By Country, 2023
- Production, In Physical Terms, By Country, 2012–2023
- Imports, In Physical Terms, 2012–2023
- Imports, In Value Terms, 2012–2023
- Imports, In Physical Terms, By Country, 2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country, 2012–2023
- Exports, In Physical Terms, 2012–2023
- Exports, In Value Terms, 2012–2023
- Exports, In Physical Terms, By Country, 2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, 2012–2023
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