Africa: Market for Machines For Balancing Mechanical Parts 2024

Market Size for Machines For Balancing Mechanical Parts in Africa

The African balancing mechanical parts machine market soared to $X in 2021, growing by 103% against the previous year. In general, consumption enjoyed resilient growth. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Production of Machines For Balancing Mechanical Parts in Africa

In value terms, balancing mechanical parts machine production rose rapidly to $X in 2021 estimated in export price. The total production indicated a moderate increase from 2012 to 2021: its value increased at an average annual rate of +4.9% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production decreased by -31.4% against 2016 indices. The pace of growth was the most pronounced in 2014 with an increase of 64%. The level of production peaked at $X in 2016; however, from 2017 to 2021, production stood at a somewhat lower figure.

Exports of Machines For Balancing Mechanical Parts

Exports in Africa

In 2021, the amount of machines for balancing mechanical parts exported in Africa soared to X units, picking up by 33% on 2020. In general, exports, however, faced a abrupt decline. The growth pace was the most rapid in 2014 when exports increased by 66%. As a result, the exports attained the peak of X units. From 2015 to 2021, the growth of the exports remained at a somewhat lower figure.

In value terms, balancing mechanical parts machine exports surged to $X in 2021. Over the period under review, exports, however, saw a slight decline. The most prominent rate of growth was recorded in 2019 when exports increased by 49%. As a result, the exports reached the peak of $X. From 2020 to 2021, the growth of the exports remained at a lower figure.

Exports by Country

South Africa prevails in exports structure, finishing at X units, which was near 87% of total exports in 2021. The following exporters - Tunisia (X units) and Namibia (X units) - each amounted to a 7.8% share of total exports.

Exports from South Africa decreased at an average annual rate of -17.2% from 2012 to 2021. At the same time, Tunisia (+19.9%) and Namibia (+12.4%) displayed positive paces of growth. Moreover, Tunisia emerged as the fastest-growing exporter exported in Africa, with a CAGR of +19.9% from 2012-2021. While the share of Tunisia (+4.1 p.p.) and Namibia (+3.3 p.p.) increased significantly in terms of the total exports from 2012-2021, the share of South Africa (-9.4 p.p.) displayed negative dynamics.

In value terms, South Africa ($X) remains the largest balancing mechanical parts machine supplier in Africa, comprising 76% of total exports. The second position in the ranking was taken by Namibia ($X), with a 6.3% share of total exports.

From 2012 to 2021, the average annual growth rate of value in South Africa amounted to -2.4%. The remaining exporting countries recorded the following average annual rates of exports growth: Namibia (+24.2% per year) and Tunisia (+6.7% per year).

Export Prices by Country

In 2021, the export price in Africa amounted to $X per unit, remaining relatively unchanged against the previous year. Overall, the export price recorded a resilient increase. The most prominent rate of growth was recorded in 2016 an increase of 124%. The level of export peaked at $X per unit in 2019; however, from 2020 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, the country with the highest price was Namibia ($X per unit), while South Africa ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by South Africa (+17.8%), while the other leaders experienced mixed trends in the export price figures.

Imports of Machines For Balancing Mechanical Parts

Imports in Africa

For the fourth consecutive year, Africa recorded growth in overseas purchases of machines for balancing mechanical parts, which increased by 375% to X units in 2021. Over the period under review, imports enjoyed significant growth. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, balancing mechanical parts machine imports skyrocketed to $X in 2021. Overall, imports showed a buoyant expansion. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

Nigeria dominates imports structure, amounting to X units, which was near 95% of total imports in 2021. Morocco (X units) took a relatively small share of total imports.

Nigeria was also the fastest-growing in terms of the machines for balancing mechanical parts imports, with a CAGR of +66.8% from 2012 to 2021. At the same time, Morocco (+23.9%) displayed positive paces of growth. From 2012 to 2021, the share of Nigeria increased by +78 percentage points.

In value terms, Nigeria ($X) constitutes the largest market for imported machines for balancing mechanical parts in Africa, comprising 65% of total imports. The second position in the ranking was held by Morocco ($X), with an 8.8% share of total imports.

In Nigeria, balancing mechanical parts machine imports increased at an average annual rate of +48.1% over the period from 2012-2021.

Import Prices by Country

In 2021, the import price in Africa amounted to $X per unit, which is down by -49.8% against the previous year. Over the period under review, the import price faced a abrupt descent. The pace of growth appeared the most rapid in 2015 when the import price increased by 27%. As a result, import price reached the peak level of $X per unit. From 2016 to 2021, the import prices failed to regain momentum.

There were significant differences in the average prices amongst the major importing countries. In 2021, the country with the highest price was Morocco ($X per unit), while Nigeria stood at $X per unit.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Morocco (-5.0%).

Source: IndexBox Platform

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