Kenya: Machine-Tool For Drilling Market 2024

Machine-Tool For Drilling Market Size in Kenya

After two years of growth, the Kenyan machine-tool for drilling market decreased by -9.7% to $X in 2022. Over the period under review, consumption, however, showed a strong expansion. Over the period under review, the market reached the maximum level at $X in 2021, and then declined in the following year.

Machine-Tool For Drilling Production in Kenya

In value terms, machine-tool for drilling production shrank to $X in 2022 estimated in export price. Overall, production, however, recorded a strong increase. The most prominent rate of growth was recorded in 2018 with an increase of 102% against the previous year. Over the period under review, production attained the peak level at $X in 2019; however, from 2020 to 2022, production failed to regain momentum.

Machine-Tool For Drilling Exports

Exports from Kenya

Machine-tool for drilling exports from Kenya skyrocketed to X units in 2022, picking up by 23% on the previous year's figure. Overall, exports recorded a significant increase. The most prominent rate of growth was recorded in 2019 with an increase of 7,553%. As a result, the exports attained the peak of X units. From 2020 to 2022, the growth of the exports remained at a lower figure.

In value terms, machine-tool for drilling exports dropped to $X in 2022. Over the period under review, exports recorded a remarkable increase. The pace of growth appeared the most rapid in 2019 with an increase of 2,521%. As a result, the exports reached the peak of $X. From 2020 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

Uganda (X units) was the main destination for machine-tool for drilling exports from Kenya, with a 56% share of total exports. Moreover, machine-tool for drilling exports to Uganda exceeded the volume sent to the second major destination, South Sudan (X units), twofold.

From 2012 to 2022, the average annual growth rate of volume to Uganda stood at +51.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: South Sudan (+41.2% per year) and Tanzania (+41.7% per year).

In value terms, Uganda ($X) remains the key foreign market for machine-tools for drilling, boring or milling metal exports from Kenya, comprising 81% of total exports. The second position in the ranking was taken by Tanzania ($X), with a 9.1% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value to Uganda totaled +39.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Tanzania (+31.8% per year) and South Sudan (+5.5% per year).

Export Prices by Country

The average machine-tool for drilling export price stood at $X per unit in 2022, reducing by -23.7% against the previous year. In general, the export price recorded a noticeable contraction. The most prominent rate of growth was recorded in 2020 an increase of 220%. The export price peaked 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 Uganda ($X per unit), while the average price for exports to South Sudan ($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 Tanzania (-7.0%), while the prices for the other major destinations experienced a decline.

Machine-Tool For Drilling Imports

Imports into Kenya

In 2022, approx. X units of machine-tools for drilling, boring or milling metal were imported into Kenya; falling by -41.2% against the year before. Overall, imports, however, posted pronounced growth. The growth pace was the most rapid in 2021 when imports increased by 227%. Over the period under review, imports reached the maximum at X units in 2013; however, from 2014 to 2022, imports stood at a somewhat lower figure.

In value terms, machine-tool for drilling imports reduced notably to $X in 2022. In general, imports showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 with an increase of 162% against the previous year. Over the period under review, imports reached the peak figure at $X in 2018; however, from 2019 to 2022, imports remained at a lower figure.

Imports by Country

China (X units), Canada (X units) and the UK (X units) were the main suppliers of machine-tool for drilling imports to Kenya, together accounting for 68% of total imports.

From 2012 to 2022, the biggest increases were recorded for Canada (with a CAGR of +46.9%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest machine-tool for drilling suppliers to Kenya were China ($X), Canada ($X) and Taiwan (Chinese) ($X), together comprising 50% of total imports.

In terms of the main suppliers, Canada, with a CAGR of +56.7%, recorded the highest rates of growth with regard to the value of imports, 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 machine-tool for drilling import price amounted to $X per unit, jumping by 17% against the previous year. Overall, the import price, however, saw a pronounced curtailment. The most prominent rate of growth was recorded in 2015 when the average import price increased by 86% against the previous year. As a result, import price attained the peak level of $X per unit. 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 Taiwan (Chinese) ($X per unit), while the price for South Africa ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Uganda (+21.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :