Kenya: Market for Lifts, Elevators, Moving Stairways and Draglines 2024

Market Size for Lifts, Elevators, Moving Stairways and Draglines in Kenya

After two years of growth, the Kenyan market for lifts, elevators, moving stairways and draglines decreased by -0.2% to $X in 2022. In general, the total consumption indicated moderate growth from 2012 to 2022: its value increased at an average annual rate of +4.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +20.9% against 2019 indices. Over the period under review, the market reached the peak level at $X in 2017; however, from 2018 to 2022, consumption failed to regain momentum.

Exports of Lifts, Elevators, Moving Stairways and Draglines

Exports from Kenya

In 2022, exports of lifts, elevators, moving stairways and draglines from Kenya declined rapidly to X units, falling by -40% against the previous year. Overall, exports recorded a abrupt curtailment. The pace of growth appeared the most rapid in 2013 with an increase of 333%. As a result, the exports reached the peak of X units. From 2014 to 2022, the growth of the exports remained at a lower figure.

In value terms, lift, elevator, stairway and dragline exports dropped markedly to $X in 2022. In general, exports showed a abrupt slump. The growth pace was the most rapid in 2018 when exports increased by 101%. The exports peaked at $X in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

Exports by Country

Tanzania (X units), Rwanda (X units) and Zimbabwe (X units) were the main destinations of lift, elevator, stairway and dragline exports from Kenya.

From 2012 to 2022, the biggest increases were recorded for Zimbabwe (with a CAGR of 0.0%), while shipments for the other leaders experienced a decline.

In value terms, the largest markets for lift, elevator, stairway and dragline exported from Kenya were Rwanda ($X), Tanzania ($X) and Zimbabwe ($X).

Zimbabwe, with a CAGR of -0.2%, saw the highest rates of growth with regard to the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced a decline.

Export Prices by Country

The average export price for lifts, elevators, moving stairways and draglines stood at $X per unit in 2022, with an increase of 10% against the previous year. Over the period under review, the export price, however, saw a abrupt descent. The most prominent rate of growth was recorded in 2020 when the average export price increased by 152% against the previous year. Over the period under review, the average export prices reached the peak figure at $X per unit in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Rwanda ($X per unit), while the average price for exports to Zimbabwe ($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 Zimbabwe (-0.2%), while the prices for the other major destinations experienced a decline.

Imports of Lifts, Elevators, Moving Stairways and Draglines

Imports into Kenya

In 2022, supplies from abroad of lifts, elevators, moving stairways and draglines decreased by -9% to X units for the first time since 2019, thus ending a two-year rising trend. Over the period under review, imports, however, recorded a strong increase. The most prominent rate of growth was recorded in 2017 with an increase of 43% against the previous year. As a result, imports attained the peak of X units. From 2018 to 2022, the growth of imports remained at a lower figure.

In value terms, lift, elevator, stairway and dragline imports totaled $X in 2022. In general, total imports indicated measured growth from 2012 to 2022: its value increased at an average annual rate of +2.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2015 with an increase of 42% against the previous year. As a result, imports reached the peak of $X. From 2016 to 2022, the growth of imports remained at a lower figure.

Imports by Country

India (X units) and China (X units) were the main suppliers of lift, elevator, stairway and dragline imports to Kenya.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by India (with a CAGR of +15.7%).

In value terms, China ($X) constituted the largest supplier of lifts, elevators, moving stairways and draglines to Kenya, comprising 74% of total imports. The second position in the ranking was taken by India ($X), with a 17% share of total imports.

From 2012 to 2022, the average annual growth rate of value from China stood at +3.6%.

Import Prices by Country

In 2022, the average import price for lifts, elevators, moving stairways and draglines amounted to $X per unit, increasing by 20% against the previous year. In general, the import price, however, continues to indicate a perceptible shrinkage. The pace of growth appeared the most rapid in 2019 when the average import price increased by 49% against the previous year. Over the period under review, average import prices hit record highs at $X per unit in 2015; however, from 2016 to 2022, import prices remained at a 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 China ($X per unit), while the price for India totaled $X per unit.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+0.9%).

Source: IndexBox Platform

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