Africa: Cranks And Crankshafts Market 2024

Cranks And Crankshafts Market Size in Africa

The African cranks and crankshafts market shrank modestly to $X in 2022, which is down by -2.9% against the previous year. The market value increased at an average annual rate of +3.6% from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The level of consumption peaked at $X in 2017; however, from 2018 to 2022, consumption remained at a lower figure.

Cranks And Crankshafts Production in Africa

In value terms, cranks and crankshafts production fell to $X in 2022 estimated in export price. The total production indicated temperate growth from 2012 to 2022: its value increased at an average annual rate of +4.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production increased by +5.1% against 2020 indices. The most prominent rate of growth was recorded in 2016 when the production volume increased by 18% against the previous year. The level of production peaked at $X in 2017; however, from 2018 to 2022, production remained at a lower figure.

Cranks And Crankshafts Exports

Exports in Africa

In 2022, approx. X tons of cranks and crankshafts were exported in Africa; waning by -2% compared with 2021 figures. Overall, exports saw a pronounced slump. The growth pace was the most rapid in 2017 with an increase of 35% against the previous year. The volume of export peaked at X tons in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

In value terms, cranks and crankshafts exports declined markedly to $X in 2022. Over the period under review, exports continue to indicate a abrupt decline. The pace of growth appeared the most rapid in 2021 when exports increased by 25%. The level of export peaked at $X in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

Exports by Country

In 2022, South Africa (X tons) was the major exporter of cranks and crankshafts, comprising 61% of total exports. Namibia (X tons) took an 11% share (based on physical terms) of total exports, which put it in second place, followed by Mauritius (9.9%) and Zambia (4.9%). Nigeria (X tons) and Botswana (X tons) followed a long way behind the leaders.

Exports from South Africa decreased at an average annual rate of -6.9% from 2012 to 2022. At the same time, Mauritius (+89.4%), Nigeria (+13.9%) and Namibia (+6.1%) displayed positive paces of growth. Moreover, Mauritius emerged as the fastest-growing exporter exported in Africa, with a CAGR of +89.4% from 2012-2022. By contrast, Zambia (-1.8%) and Botswana (-11.0%) illustrated a downward trend over the same period. Mauritius (+9.8 p.p.), Namibia (+7.3 p.p.) and Nigeria (+2.4 p.p.) significantly strengthened its position in terms of the total exports, while Botswana and South Africa saw its share reduced by -2.6% and -20.5% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, South Africa ($X) remains the largest cranks and crankshafts supplier in Africa, comprising 82% of total exports. The second position in the ranking was taken by Namibia ($X), with a 4.4% share of total exports. It was followed by Zambia, with a 2.1% share.

From 2012 to 2022, the average annual growth rate of value in South Africa amounted to -7.0%. The remaining exporting countries recorded the following average annual rates of exports growth: Namibia (-1.3% per year) and Zambia (-7.0% per year).

Export Prices by Country

In 2022, the export price in Africa amounted to $X per ton, reducing by -14.5% against the previous year. Overall, the export price showed a perceptible setback. The growth pace was the most rapid in 2015 an increase of 11% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2016 to 2022, the export prices remained at a 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 South Africa ($X per ton), while Mauritius ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by South Africa (-0.1%), while the other leaders experienced a decline in the export price figures.

Cranks And Crankshafts Imports

Imports in Africa

Cranks and crankshafts imports skyrocketed to X tons in 2022, growing by 31% against 2021 figures. Overall, imports showed a remarkable increase. The most prominent rate of growth was recorded in 2020 with an increase of 46% against the previous year. The volume of import peaked in 2022 and is expected to retain growth in the near future.

In value terms, cranks and crankshafts imports rose modestly to $X in 2022. In general, imports, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 when imports increased by 16% against the previous year. The level of import peaked at $X in 2014; however, from 2015 to 2022, imports failed to regain momentum.

Imports by Country

Nigeria prevails in imports structure, recording X tons, which was near 61% of total imports in 2022. It was distantly followed by South Africa (X tons), generating a 7.5% share of total imports. The following importers - Algeria (X tons), Egypt (X tons), Tanzania (X tons), Ghana (X tons), Morocco (X tons) and Burkina Faso (X tons) - together made up 17% of total imports.

Imports into Nigeria increased at an average annual rate of +9.4% from 2012 to 2022. At the same time, Burkina Faso (+18.2%), Ghana (+9.0%), Morocco (+8.6%), Tanzania (+4.3%) and Algeria (+1.6%) displayed positive paces of growth. Moreover, Burkina Faso emerged as the fastest-growing importer imported in Africa, with a CAGR of +18.2% from 2012-2022. South Africa experienced a relatively flat trend pattern. By contrast, Egypt (-4.0%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Nigeria increased by +16 percentage points. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest cranks and crankshafts importing markets in Africa were South Africa ($X), Nigeria ($X) and Egypt ($X), with a combined 51% share of total imports. Algeria, Morocco, Tanzania, Ghana and Burkina Faso lagged somewhat behind, together comprising a further 19%.

In terms of the main importing countries, Burkina Faso, with a CAGR of +6.7%, recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the import price in Africa amounted to $X per ton, shrinking by -21.8% against the previous year. In general, the import price showed a abrupt downturn. The most prominent rate of growth was recorded in 2014 when the import price increased by 31%. Over the period under review, import prices hit record highs at $X per ton in 2015; however, from 2016 to 2022, import prices failed to regain momentum.

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 Egypt ($X per ton), while Nigeria ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by South Africa (+0.9%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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