Kenya: Market for Machines For Balancing Mechanical Parts 2024

Market Size for Machines For Balancing Mechanical Parts in Kenya

In 2021, the Kenyan balancing mechanical parts machine market increased by 18% to $X, rising for the second year in a row after four years of decline. In general, consumption posted a prominent increase. As a result, consumption attained the peak level of $X. From 2016 to 2021, the growth of the market failed to regain momentum.

Exports of Machines For Balancing Mechanical Parts

Exports from Kenya

In 2021, shipments abroad of machines for balancing mechanical parts decreased by -49.4% to X units for the first time since 2018, thus ending a two-year rising trend. Over the period under review, exports, however, continue to indicate significant growth. The pace of growth appeared the most rapid in 2013 when exports increased by 650% against the previous year. Over the period under review, the exports attained the peak figure at X units in 2020, and then shrank markedly in the following year.

In value terms, balancing mechanical parts machine exports soared to $X in 2021. Overall, exports, however, showed significant growth. The most prominent rate of growth was recorded in 2019 with an increase of 1,215% against the previous year. As a result, the exports reached the peak of $X. From 2020 to 2021, the growth of the exports failed to regain momentum.

Exports by Country

Tanzania (X units) was the main destination for balancing mechanical parts machine exports from Kenya, accounting for a 85% share of total exports. Moreover, balancing mechanical parts machine exports to Tanzania exceeded the volume sent to the second major destination, Uganda (X units), more than tenfold. The third position in this ranking was held by South Africa (X units), with a 5.1% share.

From 2012 to 2021, the average annual growth rate of volume to Tanzania totaled +49.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Uganda (+9.1% per year) and South Africa (+8.0% per year).

In value terms, Tanzania ($X) emerged as the key foreign market for machines for balancing mechanical parts exports from Kenya, comprising 81% of total exports. The second position in the ranking was held by Rwanda ($X), with a 10% share of total exports. It was followed by Uganda, with a 6% share.

From 2012 to 2021, the average annual growth rate of value to Tanzania totaled +112.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Rwanda (+0.1% per year) and Uganda (+26.3% per year).

Export Prices by Country

The average balancing mechanical parts machine export price stood at $X per unit in 2021, rising by 288% against the previous year. Over the period under review, the export price, however, continues to indicate a abrupt slump. The export price peaked at $X per unit in 2019; however, from 2020 to 2021, the export prices stood at a somewhat lower figure.

Prices varied noticeably country of destination: the country with the highest price was Rwanda ($X per unit), while the average price for exports to South Africa ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to South Sudan (+8.0%), while the prices for the other major destinations experienced mixed trend patterns.

Imports of Machines For Balancing Mechanical Parts

Imports into Kenya

In 2021, supplies from abroad of machines for balancing mechanical parts increased by 0.5% to X units, rising for the second year in a row after four years of decline. Over the period under review, imports continue to indicate resilient growth. The most prominent rate of growth was recorded in 2015 with an increase of 833% against the previous year. As a result, imports attained the peak of X units. From 2016 to 2021, the growth of imports remained at a lower figure.

In value terms, balancing mechanical parts machine imports soared to $X in 2021. In general, imports recorded a buoyant increase. The pace of growth appeared the most rapid in 2015 with an increase of 271%. As a result, imports attained the peak of $X. From 2016 to 2021, the growth of imports remained at a lower figure.

Imports by Country

In 2021, China (X units) constituted the largest supplier of balancing mechanical parts machine to Kenya, accounting for a 48% share of total imports. Moreover, balancing mechanical parts machine imports from China exceeded the figures recorded by the second-largest supplier, the United States (X units), threefold. The third position in this ranking was taken by Italy (X units), with a 7.9% share.

From 2012 to 2021, the average annual growth rate of volume from China amounted to +42.5%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (+22.7% per year) and Italy (-14.2% per year).

In value terms, the largest balancing mechanical parts machine suppliers to Kenya were China ($X), the United States ($X) and Italy ($X), with a combined 61% share of total imports.

Among the main suppliers, China, with a CAGR of +31.3%, saw the highest growth rate of 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 2021, the average balancing mechanical parts machine import price amounted to $X per unit, picking up by 41% against the previous year. In general, the import price recorded a notable expansion. The most prominent rate of growth was recorded in 2018 when the average import price increased by 77%. Over the period under review, average import prices hit record highs at $X per unit in 2014; however, from 2015 to 2021, import prices remained at a lower figure.

Prices varied noticeably country of origin: the country with the highest price was Italy ($X per unit), while the price for the UK ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by India (+21.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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