Kenya: Jacks And Hoists Market 2024

Jacks And Hoists Market Size in Kenya

The Kenyan jacks and hoists market dropped dramatically to $X in 2022, with a decrease of -18.6% 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 showed a relatively flat trend pattern. As a result, consumption reached the peak level of $X. From 2020 to 2022, the growth of the market failed to regain momentum.

Jacks And Hoists Exports

Exports from Kenya

For the third year in a row, Kenya recorded growth in shipments abroad of jacks and hoists for raising vehicles, which increased by 2.7% to X units in 2022. In general, exports continue to indicate strong growth. The growth pace was the most rapid in 2018 with an increase of 178%. Over the period under review, the exports attained the peak figure in 2022 and are expected to retain growth in the near future.

In value terms, jacks and hoists exports shrank to $X in 2022. Overall, exports recorded prominent growth. The pace of growth was the most pronounced in 2018 when exports increased by 116%. Over the period under review, the exports reached the maximum at $X in 2021, and then fell in the following year.

Exports by Country

France (X units) was the main destination for jacks and hoists exports from Kenya, with a 40% share of total exports. Moreover, jacks and hoists exports to France exceeded the volume sent to the second major destination, Malawi (X units), twofold. The third position in this ranking was held by South Sudan (X units), with a 14% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to France stood at +26.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Malawi (+50.7% per year) and South Sudan (-0.9% per year).

In value terms, France ($X) remains the key foreign market for jacks and hoists for raising vehicles exports from Kenya, comprising 50% of total exports. The second position in the ranking was held by Uganda ($X), with a 13% share of total exports. It was followed by Tanzania, with a 10% share.

From 2012 to 2022, the average annual rate of growth in terms of value to France stood at +15.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Uganda (+23.1% per year) and Tanzania (+34.0% per year).

Export Prices by Country

The average jacks and hoists export price stood at $X per unit in 2022, with a decrease of -11.7% against the previous year. In general, the export price recorded a deep setback. The pace of growth appeared the most rapid in 2014 when the average export price increased by 58%. Over the period under review, the average export prices hit record highs at $X per unit in 2016; however, from 2017 to 2022, the export prices failed to regain momentum.

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 Uganda ($X per unit), while the average price for exports to South Africa ($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 South Sudan (+0.8%), while the prices for the other major destinations experienced a decline.

Jacks And Hoists Imports

Imports into Kenya

In 2022, the amount of jacks and hoists for raising vehicles imported into Kenya declined to X units, shrinking by -13.9% compared with 2021 figures. Overall, imports, however, recorded a modest increase. The most prominent rate of growth was recorded in 2019 when imports increased by 214% against the previous year. As a result, imports reached the peak of X units. From 2020 to 2022, the growth of imports remained at a lower figure.

In value terms, jacks and hoists imports fell notably to $X in 2022. Over the period under review, imports saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 when imports increased by 218% against the previous year. As a result, imports attained the peak of $X. From 2020 to 2022, the growth of imports remained at a somewhat lower figure.

Imports by Country

In 2022, Japan (X units) constituted the largest supplier of jacks and hoists to Kenya, with a 60% share of total imports. Moreover, jacks and hoists imports from Japan exceeded the figures recorded by the second-largest supplier, China (X units), threefold. The third position in this ranking was taken by the United Arab Emirates (X units), with a 9.2% share.

From 2012 to 2022, the average annual growth rate of volume from Japan stood at +20.1%. The remaining supplying countries recorded the following average annual rates of imports growth: China (-3.6% per year) and the United Arab Emirates (-8.7% per year).

In value terms, China ($X), Japan ($X) and Italy ($X) constituted the largest jacks and hoists suppliers to Kenya, with a combined 67% share of total imports.

Italy, with a CAGR of +25.3%, recorded the highest growth rate of the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average jacks and hoists import price amounted to $X per unit, falling by -6.5% against the previous year. Over the period under review, the import price showed a perceptible descent. The most prominent rate of growth was recorded in 2021 when the average import price increased by 15% against the previous year. The import price peaked at $X per unit in 2012; however, from 2013 to 2022, 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 ($X per unit), while the price for the United Arab Emirates ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+10.0%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :