Kenya: Boring Machinery Market 2024

Boring Machinery Market Size in Kenya

After two years of growth, the Kenyan boring machinery market decreased by -6.8% to $X in 2022. Overall, consumption, however, recorded strong growth. Boring machinery consumption peaked at $X in 2021, and then fell in the following year.

Boring Machinery Production in Kenya

In value terms, boring machinery production contracted sharply to $X in 2022 estimated in export price. Overall, production, however, saw a buoyant expansion. The most prominent rate of growth was recorded in 2016 with an increase of 109%. Boring machinery production peaked at $X in 2019; however, from 2020 to 2022, production failed to regain momentum.

Boring Machinery Exports

Exports from Kenya

In 2022, the amount of boring or sinking machinery exported from Kenya contracted sharply to X units, falling by -45.9% on 2021. Overall, exports, however, saw significant growth. The most prominent rate of growth was recorded in 2015 when exports increased by 16,200%. Over the period under review, the exports reached the maximum at X units in 2019; however, from 2020 to 2022, the exports stood at a somewhat lower figure.

In value terms, boring machinery exports reduced remarkably to $X in 2022. Over the period under review, exports, however, showed significant growth. The most prominent rate of growth was recorded in 2015 when exports increased by 15,092% against the previous year. Over the period under review, the exports attained the peak figure at $X in 2019; however, from 2020 to 2022, the exports failed to regain momentum.

Exports by Country

Ethiopia (X units), Uganda (X units) and Mozambique (X units) were the main destinations of boring machinery exports from Kenya, with a combined 92% share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Ethiopia (with a CAGR of +66.2%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for boring machinery exported from Kenya were Uganda ($X), Ethiopia ($X) and Mozambique ($X), with a combined 99% share of total exports.

In terms of the main countries of destination, Ethiopia, with a CAGR of +79.0%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average boring machinery export price amounted to $X per unit, waning by -5.8% against the previous year. Over the period under review, the export price, however, showed a prominent increase. The growth pace was the most rapid in 2021 an increase of 145%. As a result, the export price attained the peak level of $X per unit, and then dropped in the following year.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Uganda ($X per unit), while the average price for exports to the Netherlands ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Mozambique (+39.8%), while the prices for the other major destinations experienced more modest paces of growth.

Boring Machinery Imports

Imports into Kenya

In 2022, approx. X units of boring or sinking machinery were imported into Kenya; picking up by 263% on 2021. Overall, imports saw a strong expansion. The growth pace was the most rapid in 2018 when imports increased by 742%. Over the period under review, imports hit record highs at X units in 2014; however, from 2015 to 2022, imports stood at a somewhat lower figure.

In value terms, boring machinery imports skyrocketed to $X in 2022. Over the period under review, imports, however, continue to indicate a perceptible shrinkage. The most prominent rate of growth was recorded in 2014 with an increase of 726%. As a result, imports attained the peak of $X. From 2015 to 2022, the growth of imports failed to regain momentum.

Imports by Country

In 2022, Japan (X units) constituted the largest boring machinery supplier to Kenya, accounting for a 46% share of total imports. Moreover, boring machinery imports from Japan exceeded the figures recorded by the second-largest supplier, the United States (X units), twofold. The third position in this ranking was held by China (X units), with a 6.5% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Japan stood at +51.6%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (-0.3% per year) and China (+11.6% per year).

In value terms, the United States ($X) constituted the largest supplier of boring or sinking machinery to Kenya, comprising 43% of total imports. The second position in the ranking was taken by Japan ($X), with a 19% share of total imports. It was followed by Singapore, with a 5.9% share.

From 2012 to 2022, the average annual rate of growth in terms of value from the United States was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (+50.6% per year) and Singapore (-3.1% per year).

Import Prices by Country

In 2022, the average boring machinery import price amounted to $X per unit, declining by -12% against the previous year. In general, the import price saw a abrupt descent. The pace of growth was the most pronounced in 2014 when the average import price increased by 97%. As a result, import price reached the peak level of $X per unit. From 2015 to 2022, the average import prices remained at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Australia ($X per unit), while the price for Belgium ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+0.1%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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