Ethiopia: Shaft Coupling Market 2024

Shaft Coupling Market Size in Ethiopia

The Ethiopian shaft coupling market declined dramatically to $X in 2022, shrinking by -23.8% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Overall, consumption, however, continues to indicate a remarkable increase. Over the period under review, the market hit record highs at $X in 2014; however, from 2015 to 2022, consumption stood at a somewhat lower figure.

Shaft Coupling Exports

Exports from Ethiopia

After two years of decline, shipments abroad of clutches and shaft couplings increased by 1,431% to X kg in 2022. Over the period under review, exports, however, continue to indicate a deep contraction. The most prominent rate of growth was recorded in 2019 when exports increased by 1,569% against the previous year. Over the period under review, the exports attained the maximum at X tons in 2013; however, from 2014 to 2022, the exports remained at a lower figure.

In value terms, shaft coupling exports fell modestly to $X in 2022. Overall, exports, however, showed a sharp setback. The pace of growth appeared the most rapid in 2019 with an increase of 3,845% against the previous year. The exports peaked at $X in 2017; however, from 2018 to 2022, the exports remained at a lower figure.

Exports by Country

The United Arab Emirates (X kg) was the main destination for shaft coupling exports from Ethiopia, accounting for a 98% share of total exports. It was followed by Kenya (X kg), with a 0.8% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of volume to the United Arab Emirates totaled -6.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Kenya (-29.8% per year) and Cote d'Ivoire (-34.8% per year).

In value terms, the United Arab Emirates ($X) remains the key foreign market for clutches and shaft couplings exports from Ethiopia, comprising 95% of total exports. The second position in the ranking was taken by Kenya ($X), with a 3.3% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value to the United Arab Emirates stood at -16.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Kenya (-33.6% per year) and Cote d'Ivoire (-47.1% per year).

Export Prices by Country

In 2022, the average shaft coupling export price amounted to $X per ton, with a decrease of -93.6% against the previous year. Overall, the export price continues to indicate a deep setback. The pace of growth was the most pronounced in 2019 an increase of 136% against the previous year. Over the period under review, the average export prices attained the peak figure at $X per ton in 2020; however, from 2021 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Kenya ($X per ton), while the average price for exports to the United Arab Emirates ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Kenya (-5.3%), while the prices for the other major destinations experienced a decline.

Shaft Coupling Imports

Imports into Ethiopia

Shaft coupling imports into Ethiopia shrank rapidly to X tons in 2022, dropping by -27.1% against 2021 figures. Over the period under review, imports, however, saw a resilient expansion. The growth pace was the most rapid in 2013 with an increase of 220% against the previous year. Imports peaked at X tons in 2014; however, from 2015 to 2022, imports stood at a somewhat lower figure.

In value terms, shaft coupling imports reduced notably to $X in 2022. In general, imports, however, continue to indicate a buoyant expansion. The growth pace was the most rapid in 2013 when imports increased by 179% against the previous year. Imports peaked at $X in 2016; however, from 2017 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, China (X tons) constituted the largest shaft coupling supplier to Ethiopia, accounting for a 60% share of total imports. Moreover, shaft coupling imports from China exceeded the figures recorded by the second-largest supplier, India (X tons), threefold. The third position in this ranking was held by Japan (X tons), with a 7.3% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China stood at +13.0%. The remaining supplying countries recorded the following average annual rates of imports growth: India (+19.7% per year) and Japan (-5.0% per year).

In value terms, China ($X) constituted the largest supplier of clutches and shaft couplings to Ethiopia, comprising 53% of total imports. The second position in the ranking was held by India ($X), with a 20% share of total imports. It was followed by Japan, with a 7.6% share.

From 2012 to 2022, the average annual growth rate of value from China amounted to +21.7%. The remaining supplying countries recorded the following average annual rates of imports growth: India (+24.6% per year) and Japan (-4.2% per year).

Import Prices by Country

The average shaft coupling import price stood at $X per ton in 2022, picking up by 9.5% against the previous year. In general, the import price saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2015 when the average import price increased by 68% against the previous year. As a result, import price reached the peak level of $X per ton. From 2016 to 2022, the average import prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Italy ($X per ton), while the price for Ukraine ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Italy (+11.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform