Kenya: Electromagnetic Lifting Head Market 2024

Electromagnetic Lifting Head Market Size in Kenya

The Kenyan electromagnetic lifting head market declined to $X in 2022, which is down by -10.1% 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). In general, consumption, however, showed a noticeable decrease. Electromagnetic lifting head consumption peaked at $X in 2016; however, from 2017 to 2022, consumption stood at a somewhat lower figure.

Electromagnetic Lifting Head Exports

Exports from Kenya

In 2022, after three years of growth, there was significant decline in shipments abroad of electromagnets and electromagnetic lifting heads, when their volume decreased by -8% to X kg. Over the period under review, exports showed a precipitous decrease. The growth pace was the most rapid in 2016 with an increase of 202%. The exports peaked at X kg in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

In value terms, electromagnetic lifting head exports fell significantly to $X in 2022. Overall, exports faced a deep reduction. The growth pace was the most rapid in 2016 with an increase of 243%. Over the period under review, the exports attained the maximum at $X in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

Exports by Country

Ireland (X kg) was the main destination for electromagnetic lifting head exports from Kenya, with a 41% share of total exports. Moreover, electromagnetic lifting head exports to Ireland exceeded the volume sent to the second major destination, Rwanda (X kg), fivefold. The third position in this ranking was taken by Tanzania (X kg), with a 2.2% share.

From 2012 to 2022, the average annual growth rate of volume to Ireland was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Rwanda (-18.5% per year) and Tanzania (-36.7% per year).

In value terms, Rwanda ($X), Ireland ($X) and Malta ($X) appeared to be the largest markets for electromagnetic lifting head exported from Kenya worldwide, together accounting for 69% of total exports.

Ireland, with a CAGR of 0.0%, saw the highest rates of growth with regard to the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced mixed trend patterns.

Export Prices by Country

The average electromagnetic lifting head export price stood at $X per ton in 2022, with a decrease of -18.5% against the previous year. Overall, the export price, however, showed perceptible growth. The most prominent rate of growth was recorded in 2018 an increase of 83%. As a result, the export price attained the peak level of $X per ton. From 2019 to 2022, the average export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Rwanda ($X per ton), while the average price for exports to Tanzania ($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 Zambia (+14.4%), while the prices for the other major destinations experienced mixed trend patterns.

Electromagnetic Lifting Head Imports

Imports into Kenya

In 2022, approx. X tons of electromagnets and electromagnetic lifting heads were imported into Kenya; standing approx. at 2021. Over the period under review, imports showed a modest expansion. The most prominent rate of growth was recorded in 2021 when imports increased by 170%. Over the period under review, imports hit record highs at X tons in 2019; however, from 2020 to 2022, imports stood at a somewhat lower figure.

In value terms, electromagnetic lifting head imports reduced dramatically to $X in 2022. In general, imports, however, saw a abrupt shrinkage. The most prominent rate of growth was recorded in 2021 when imports increased by 102%. Over the period under review, imports attained the maximum at $X in 2016; however, from 2017 to 2022, imports stood at a somewhat lower figure.

Imports by Country

China (X tons), India (X tons) and South Africa (X kg) were the main suppliers of electromagnetic lifting head imports to Kenya, together accounting for 92% of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by China (with a CAGR of +57.9%), while imports for the other leaders experienced more modest paces of growth.

In value terms, China ($X) constituted the largest supplier of electromagnets and electromagnetic lifting heads to Kenya, comprising 44% of total imports. The second position in the ranking was taken by India ($X), with a 20% share of total imports. It was followed by the Netherlands, with a 4.9% share.

From 2012 to 2022, the average annual rate of growth in terms of value from China amounted to +52.8%. The remaining supplying countries recorded the following average annual rates of imports growth: India (+22.2% per year) and the Netherlands (-26.5% per year).

Import Prices by Country

The average electromagnetic lifting head import price stood at $X per ton in 2022, shrinking by -26.3% against the previous year. In general, the import price showed a deep contraction. The most prominent rate of growth was recorded in 2014 when the average import price increased by 74% against the previous year. As a result, import price attained the peak level of $X per ton. From 2015 to 2022, the average import prices remained at a somewhat lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by India (+1.8%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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