Africa: Lift And Hoist Market 2024

Lift And Hoist Market Size in Africa

After two years of decline, the African lift and hoist market increased by 24% to $X in 2022. Over the period under review, consumption showed a relatively flat trend pattern. The level of consumption peaked at $X in 2013; however, from 2014 to 2022, consumption failed to regain momentum.

Lift And Hoist Production in Africa

In value terms, lift and hoist production rose sharply to $X in 2022 estimated in export price. The total production indicated modest growth from 2012 to 2022: its value increased at an average annual rate of +1.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -5.7% against 2020 indices. The most prominent rate of growth was recorded in 2019 when the production volume increased by 91%. Over the period under review, production reached the maximum level at $X in 2020; however, from 2021 to 2022, production failed to regain momentum.

Lift And Hoist Exports

Exports in Africa

In 2022, exports of lifts and hoists in Africa expanded significantly to X units, surging by 13% on the year before. In general, exports continue to indicate a buoyant expansion. The growth pace was the most rapid in 2020 with an increase of 795%. As a result, the exports reached the peak of X units. From 2021 to 2022, the growth of the exports remained at a lower figure.

In value terms, lift and hoist exports shrank slightly to $X in 2022. Overall, exports, however, saw a pronounced curtailment. The growth pace was the most rapid in 2020 with an increase of 79% against the previous year. As a result, the exports attained the peak of $X. From 2021 to 2022, the growth of the exports remained at a somewhat lower figure.

Exports by Country

In 2022, South Africa (X units) represented the major exporter of lifts and hoists, constituting 66% of total exports. It was distantly followed by Morocco (X units), constituting a 20% share of total exports. The following exporters - Algeria (X units) and Mauritius (X units) - each accounted for a 3.5% share of total exports.

From 2012 to 2022, average annual rates of growth with regard to lift and hoist exports from South Africa stood at +6.4%. At the same time, Morocco (+36.6%), Algeria (+34.1%) and Mauritius (+5.8%) displayed positive paces of growth. Moreover, Morocco emerged as the fastest-growing exporter exported in Africa, with a CAGR of +36.6% from 2012-2022. Morocco (+18 p.p.), South Africa (+2.1 p.p.) and Algeria (+1.8 p.p.) significantly strengthened its position in terms of the total exports, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, South Africa ($X) remains the largest lift and hoist supplier in Africa, comprising 71% of total exports. The second position in the ranking was held by Morocco ($X), with a 7% share of total exports. It was followed by Algeria, with a 4.7% share.

In South Africa, lift and hoist exports contracted by an average annual rate of -4.1% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Morocco (+40.4% per year) and Algeria (+31.5% per year).

Export Prices by Country

In 2022, the export price in Africa amounted to $X per unit, with a decrease of -13.3% against the previous year. In general, the export price continues to indicate a deep reduction. The most prominent rate of growth was recorded in 2021 when the export price increased by 334% against the previous year. The level of export peaked at $X per unit in 2013; however, from 2014 to 2022, the export prices failed to regain momentum.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Mauritius (+26.3%), while the other leaders experienced mixed trends in the export price figures.

Lift And Hoist Imports

Imports in Africa

Lift and hoist imports skyrocketed to X units in 2022, surging by 22% compared with 2021 figures. Overall, imports, however, faced a deep setback. The most prominent rate of growth was recorded in 2013 when imports increased by 59%. As a result, imports reached the peak of X units. From 2014 to 2022, the growth of imports failed to regain momentum.

In value terms, lift and hoist imports skyrocketed to $X in 2022. The total import value increased at an average annual rate of +4.4% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2019 with an increase of 31% against the previous year. Over the period under review, imports attained the maximum in 2022 and are likely to see gradual growth in the near future.

Imports by Country

In 2022, Egypt (X units), distantly followed by Algeria (X units), Nigeria (X units), South Africa (X units) and Morocco (X units) were the largest importers of lifts and hoists, together mixing up 74% of total imports. Tanzania (X units), Kenya (X units), Ethiopia (X units) and Tunisia (X units) held a minor 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 Tanzania (with a CAGR of +23.2%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest lift and hoist importing markets in Africa were Egypt ($X), Algeria ($X) and Nigeria ($X), together accounting for 50% of total imports. Morocco, Tanzania, Ethiopia, Kenya, South Africa and Tunisia lagged somewhat behind, together comprising a further 31%.

Tanzania, with a CAGR of +20.2%, recorded 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

In 2022, the import price in Africa amounted to $X per unit, reducing by -2.1% against the previous year. Overall, the import price, however, continues to indicate buoyant growth. The growth pace was the most rapid in 2021 an increase of 145%. As a result, import price attained the peak level of $X per unit, and then contracted slightly in the following year.

Prices varied noticeably by country of destination: 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 2022, the most notable rate of growth in terms of prices was attained by South Africa (+30.5%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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