Africa: Lifting Equipment Market 2024

Lifting Equipment Market Size in Africa

The African lifting equipment market was estimated at $X in 2021, rising by 3.2% against the previous year. The total consumption indicated a slight expansion from 2012 to 2021: its value increased at an average annual rate of +1.0% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +58.4% against 2016 indices. As a result, consumption attained the peak level of $X. From 2016 to 2021, the growth of the market remained at a lower figure.

Lifting Equipment Production in Africa

In value terms, lifting equipment production dropped slightly to $X in 2021 estimated in export price. Over the period under review, production continues to indicate a slight increase. The growth pace was the most rapid in 2018 when the production volume increased by 21% against the previous year. Over the period under review, production attained the peak level at $X in 2020, and then shrank modestly in the following year.

Lifting Equipment Exports

Exports in Africa

In 2021, approx. X units of lifting equipment were exported in Africa; remaining constant against the previous year. Over the period under review, exports, however, continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 with an increase of 405%. As a result, the exports attained the peak of X units. From 2014 to 2021, the growth of the exports remained at a somewhat lower figure.

In value terms, lifting equipment exports surged to $X in 2021. Overall, exports, however, saw a noticeable descent. Over the period under review, the exports attained the maximum at $X in 2017; however, from 2018 to 2021, the exports failed to regain momentum.

Exports by Country

South Africa represented the largest exporting country with an export of around X units, which recorded 56% of total exports. It was distantly followed by Senegal (X units), creating a 30% share of total exports. The following exporters - Tunisia (X units) and Congo (X units) - together made up 6.6% of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the key exporting countries, was attained by Tunisia (with a CAGR of +34.6%), while the other leaders experienced more modest paces of growth.

In value terms, South Africa ($X) remains the largest lifting equipment supplier in Africa, comprising 42% of total exports. The second position in the ranking was held by Senegal ($X), with a 20% share of total exports. It was followed by Tunisia, with a 1.9% share.

From 2012 to 2021, the average annual rate of growth in terms of value in South Africa stood at -6.3%. In the other countries, the average annual rates were as follows: Senegal (+37.7% per year) and Tunisia (+1.2% per year).

Export Prices by Country

The export price in Africa stood at $X per unit in 2021, with an increase of 92% against the previous year. Over the period under review, the export price, however, recorded a noticeable contraction. The growth pace was the most rapid in 2014 when the export price increased by 659% against the previous year. The level of export peaked at $X per unit in 2016; however, from 2017 to 2021, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was Congo ($X per unit), while Tunisia ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Senegal (+7.2%), while the other leaders experienced a decline in the export price figures.

Lifting Equipment Imports

Imports in Africa

In 2021, purchases abroad of lifting equipment increased by 40% to X units, rising for the second consecutive year after two years of decline. Over the period under review, imports, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 when imports increased by 193% against the previous year. The volume of import peaked at X units in 2015; however, from 2016 to 2021, imports remained at a lower figure.

In value terms, lifting equipment imports skyrocketed to $X in 2021. Total imports indicated modest growth from 2012 to 2021: its value increased at an average annual rate of +1.2% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +56.1% against 2019 indices. The most prominent rate of growth was recorded in 2017 when imports increased by 61%. As a result, imports attained the peak of $X. From 2018 to 2021, the growth of imports failed to regain momentum.

Imports by Country

South Africa (X units), Tanzania (X units), Morocco (X units), Gabon (X units), Mauritania (X units), Kenya (X units), Cote d'Ivoire (X units), Senegal (X units), Mozambique (X units), Libya (X units), Seychelles (X units) and Sudan (X units) represented roughly 80% of total imports in 2021. Ethiopia (X units) followed a long way behind the leaders.

From 2012 to 2021, the biggest increases were recorded for Seychelles (with a CAGR of +38.1%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Morocco ($X), Tanzania ($X) and Kenya ($X) constituted the countries with the highest levels of imports in 2021, with a combined 45% share of total imports.

In terms of the main importing countries, Tanzania, with a CAGR of +44.2%, saw 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 2021, the import price in Africa amounted to $X per unit, rising by 6% against the previous year. Overall, the import price saw a slight expansion. The pace of growth appeared the most rapid in 2016 an increase of 233% against the previous year. Over the period under review, import prices reached the peak figure in 2021 and is expected to retain growth in years to come.

There were significant differences in the average prices amongst the major importing countries. In 2021, amid the top importers, the country with the highest price was Morocco ($X per unit), while South Africa ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Mauritania (+13.1%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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