Kenya: Lock And Key Market 2024

Lock And Key Market Size in Kenya

The Kenyan lock and key market expanded notably to $X in 2021, picking up by 6.4% 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). Overall, the total consumption indicated a perceptible expansion from 2012 to 2021: its value increased at an average annual rate of +2.4% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +16.7% against 2018 indices. As a result, consumption reached the peak level of $X. From 2016 to 2021, the growth of the market failed to regain momentum.

Lock And Key Exports

Exports from Kenya

In 2021, overseas shipments of padlocks, locks and keys of base metal decreased by -46.6% to X tons, falling for the second year in a row after two years of growth. In general, exports continue to indicate a abrupt contraction. The most prominent rate of growth was recorded in 2013 when exports increased by 117% against the previous year. As a result, the exports attained the peak of X tons. From 2014 to 2021, the growth of the exports failed to regain momentum.

In value terms, lock and key exports fell markedly to $X in 2021. Overall, exports showed a mild slump. The most prominent rate of growth was recorded in 2013 when exports increased by 145% against the previous year. As a result, the exports reached the peak of $X. From 2014 to 2021, the growth of the exports remained at a lower figure.

Exports by Country

Tanzania (X tons), Rwanda (X tons) and Uganda (X tons) were the main destinations of lock and key exports from Kenya, with a combined 61% share of total exports. Democratic Republic of the Congo, South Sudan, Sierra Leone, Israel, Burundi, the UK and Somalia lagged somewhat behind, together comprising a further 30%.

From 2012 to 2021, the biggest increases were recorded for Sierra Leone (with a CAGR of +68.8%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for lock and key exported from Kenya were Uganda ($X), Rwanda ($X) and Tanzania ($X), with a combined 47% share of total exports. Israel, South Sudan, the UK, Democratic Republic of the Congo, Sierra Leone, Burundi and Somalia lagged somewhat behind, together comprising a further 23%.

Israel, with a CAGR of +55.9%, recorded 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 more modest paces of growth.

Export Prices by Country

In 2021, the average lock and key export price amounted to $X per ton, growing by 51% against the previous year. Over the last nine-year period, it increased at an average annual rate of +3.6%. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices for the major export markets. In 2021, amid the top suppliers, the country with the highest price was Israel ($X per ton), while the average price for exports to Democratic Republic of the Congo ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Somalia (+11.3%), while the prices for the other major destinations experienced more modest paces of growth.

Lock And Key Imports

Imports into Kenya

For the third year in a row, Kenya recorded growth in overseas purchases of padlocks, locks and keys of base metal, which increased by 0.5% to X tons in 2021. The total import volume increased at an average annual rate of +2.2% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2017 with an increase of 31%. Over the period under review, imports reached the maximum at X tons in 2015; however, from 2016 to 2021, imports remained at a lower figure.

In value terms, lock and key imports expanded sharply to $X in 2021. Overall, total imports indicated moderate growth from 2012 to 2021: its value increased at an average annual rate of +2.5% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +15.5% against 2018 indices. The growth pace was the most rapid in 2015 when imports increased by 42% against the previous year. As a result, imports reached the peak of $X. From 2016 to 2021, the growth of imports failed to regain momentum.

Imports by Country

In 2021, China (X tons) constituted the largest lock and key supplier to Kenya, with a 87% share of total imports. Moreover, lock and key imports from China exceeded the figures recorded by the second-largest supplier, India (X tons), more than tenfold.

From 2012 to 2021, the average annual rate of growth in terms of volume from China totaled +2.8%.

In value terms, China ($X) constituted the largest supplier of padlocks, locks and keys of base metal to Kenya, comprising 73% of total imports. The second position in the ranking was held by India ($X), with a 6.8% share of total imports.

From 2012 to 2021, the average annual growth rate of value from China stood at +2.3%.

Import Prices by Country

In 2021, the average lock and key import price amounted to $X per ton, growing by 8% against the previous year. In general, the import price showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2015 when the average import price increased by 20%. Over the period under review, average import prices hit record highs at $X per ton in 2016; however, from 2017 to 2021, import prices remained at a lower figure.

Average prices varied noticeably amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was India ($X per ton), while the price for China totaled $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by India (+0.4%).

Source: IndexBox Platform

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