Africa: Heat Exchange Unit Market 2024

Heat Exchange Unit Market Size in Africa

In 2022, after four years of growth, there was decline in the African heat exchange unit market, when its value decreased by -2.4% to $X. The market value increased at an average annual rate of +4.0% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the market reached the maximum level at $X in 2021, and then shrank in the following year.

Heat Exchange Unit Production in Africa

In value terms, heat exchange unit production rose modestly to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +3.7% over the period from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2015 with an increase of 20% against the previous year. Over the period under review, production hit record highs at $X in 2020; however, from 2021 to 2022, production remained at a lower figure.

Heat Exchange Unit Exports

Exports in Africa

In 2022, shipments abroad of heat exchange units increased by 13% to X units, rising for the second year in a row after two years of decline. Overall, exports, however, continue to indicate a abrupt decrease. The pace of growth was the most pronounced in 2013 with an increase of 452% against the previous year. As a result, the exports attained the peak of X units. From 2014 to 2022, the growth of the exports failed to regain momentum.

In value terms, heat exchange unit exports skyrocketed to $X in 2022. Total exports indicated a perceptible increase from 2012 to 2022: its value increased at an average annual rate of +3.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +66.1% against 2020 indices. The pace of growth appeared the most rapid in 2018 when exports increased by 67% against the previous year. As a result, the exports attained the peak of $X. From 2019 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

South Africa prevails in exports structure, resulting at X units, which was near 77% of total exports in 2022. It was distantly followed by Morocco (X units) and Ethiopia (X units), together committing a 14% share of total exports. The following exporters - Zimbabwe (X units) and Tunisia (X units) - each recorded a 4.7% share of total exports.

Exports from South Africa decreased at an average annual rate of -11.1% from 2012 to 2022. At the same time, Ethiopia (+26.2%) and Zimbabwe (+15.3%) displayed positive paces of growth. Moreover, Ethiopia emerged as the fastest-growing exporter exported in Africa, with a CAGR of +26.2% from 2012-2022. By contrast, Tunisia (-2.5%) and Morocco (-14.1%) illustrated a downward trend over the same period. While the share of Ethiopia (+4.7 p.p.) and Zimbabwe (+2.2 p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Morocco (-4.4 p.p.) and South Africa (-5.2 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, South Africa ($X) remains the largest heat exchange unit supplier in Africa, comprising 83% of total exports. The second position in the ranking was taken by Morocco ($X), with a 5.9% share of total exports. It was followed by Ethiopia, with a 4% share.

From 2012 to 2022, the average annual rate of growth in terms of value in South Africa stood at +7.3%. The remaining exporting countries recorded the following average annual rates of exports growth: Morocco (-10.1% per year) and Ethiopia (+25.4% per year).

Export Prices by Country

The export price in Africa stood at $X per unit in 2022, growing by 5.6% against the previous year. Over the period under review, the export price enjoyed a resilient expansion. The growth pace was the most rapid in 2015 when the export price increased by 336% against the previous year. Over the period under review, the export prices hit record highs in 2022 and is expected to retain growth in the immediate term.

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 ($X per unit), while Zimbabwe ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by South Africa (+20.8%), while the other leaders experienced mixed trends in the export price figures.

Heat Exchange Unit Imports

Imports in Africa

Heat exchange unit imports reduced to X units in 2022, which is down by -11.2% against the year before. Total imports indicated perceptible growth from 2012 to 2022: its volume increased at an average annual rate of +3.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports decreased by -16.7% against 2019 indices. The most prominent rate of growth was recorded in 2013 when imports increased by 78%. As a result, imports attained the peak of X units. From 2014 to 2022, the growth of imports failed to regain momentum.

In value terms, heat exchange unit imports contracted remarkably to $X in 2022. Total imports indicated a remarkable increase from 2012 to 2022: its value increased at an average annual rate of +6.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +38.0% against 2018 indices. The growth pace was the most rapid in 2019 with an increase of 50% against the previous year. Over the period under review, imports attained the peak figure at $X in 2021, and then dropped markedly in the following year.

Imports by Country

In 2022, Algeria (X units), distantly followed by Nigeria (X units), Egypt (X units) and South Africa (X units) represented the main importers of heat exchange units, together comprising 70% of total imports. Morocco (X units), Democratic Republic of the Congo (X units), Ethiopia (X units), Tunisia (X units), Angola (X units), Libya (X units), Senegal (X units) and Tanzania (X units) took a relatively small share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by Senegal (with a CAGR of +37.5%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest heat exchange unit importing markets in Africa were Algeria ($X), Egypt ($X) and Nigeria ($X), together comprising 52% of total imports. South Africa, Morocco, Ethiopia, Libya, Senegal, Tunisia, Angola, Democratic Republic of the Congo and Tanzania lagged somewhat behind, together accounting for a further 33%.

Ethiopia, with a CAGR of +42.0%, saw the highest growth rate of the value of imports, among 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

The import price in Africa stood at $X per unit in 2022, shrinking by -5.6% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +2.4%. The most prominent rate of growth was recorded in 2014 when the import price increased by 40% against the previous year. The level of import peaked at $X per unit in 2021, and then declined in the following year.

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 Ethiopia ($X per unit), while Democratic Republic of the Congo ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by South Africa (+16.0%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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