SADC: Boring Machinery Market 2024

Boring Machinery Market Size in SADC

The SADC boring machinery market shrank significantly to $X in 2022, reducing by -16% against the previous year. The total consumption indicated a temperate expansion from 2012 to 2022: its value increased at an average annual rate of +3.2% 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 +4.0% against 2020 indices. The level of consumption peaked at $X in 2021, and then fell significantly in the following year.

Boring Machinery Production in SADC

In value terms, boring machinery production dropped to $X in 2022 estimated in export price. The total production indicated a buoyant expansion from 2012 to 2022: its value increased at an average annual rate of +6.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production increased by +4.6% against 2020 indices. The pace of growth was the most pronounced in 2016 when the production volume increased by 142% against the previous year. Over the period under review, production hit record highs at $X in 2019; however, from 2020 to 2022, production remained at a lower figure.

Boring Machinery Exports

Exports in SADC

In 2022, boring machinery exports in SADC fell to X units, which is down by -9.6% against 2021 figures. Overall, exports continue to indicate a abrupt downturn. The growth pace was the most rapid in 2020 when exports increased by 30% against the previous year. Over the period under review, the exports hit record highs at X units in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

In value terms, boring machinery exports contracted to $X in 2022. Over the period under review, exports saw a abrupt decrease. The most prominent rate of growth was recorded in 2013 when exports increased by 55%. As a result, the exports attained the peak of $X. From 2014 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

South Africa represented the key exporting country with an export of around X units, which accounted for 56% of total exports. Botswana (X units) took a 14% share (based on physical terms) of total exports, which put it in second place, followed by Zambia (13%) and Tanzania (8.4%). The following exporters - Lesotho (X units) and Malawi (X units) - each finished at a 4% share of total exports.

Exports from South Africa decreased at an average annual rate of -16.5% from 2012 to 2022. At the same time, Tanzania (+25.2%), Malawi (+16.7%), Botswana (+16.0%), Lesotho (+14.0%) and Zambia (+7.9%) displayed positive paces of growth. Moreover, Tanzania emerged as the fastest-growing exporter exported in SADC, with a CAGR of +25.2% from 2012-2022. While the share of Botswana (+13 p.p.), Zambia (+12 p.p.), Tanzania (+8.2 p.p.), Lesotho (+2.2 p.p.) and Malawi (+1.8 p.p.) increased significantly in terms of the total exports from 2012-2022, the share of South Africa (-30.1 p.p.) displayed negative dynamics.

In value terms, South Africa ($X) remains the largest boring machinery supplier in SADC, comprising 68% of total exports. The second position in the ranking was taken by Botswana ($X), with a 12% share of total exports. It was followed by Zambia, with an 8.3% share.

From 2012 to 2022, the average annual growth rate of value in South Africa stood at -6.7%. The remaining exporting countries recorded the following average annual rates of exports growth: Botswana (+17.4% per year) and Zambia (+2.0% per year).

Export Prices by Country

In 2022, the export price in SADC amounted to $X per unit, which is down by -3% against the previous year. Export price indicated a strong increase from 2012 to 2022: its price increased at an average annual rate of +8.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, boring machinery export price increased by +43.5% against 2020 indices. The most prominent rate of growth was recorded in 2013 an increase of 209%. As a result, the export price reached the peak level of $X per unit. From 2014 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was South Africa ($X per unit), while Malawi ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Tanzania (+14.4%), while the other leaders experienced more modest paces of growth.

Boring Machinery Imports

Imports in SADC

In 2022, the amount of boring or sinking machinery imported in SADC fell markedly to X units, dropping by -23.2% against the previous year's figure. Over the period under review, imports recorded a abrupt slump. The pace of growth appeared the most rapid in 2018 with an increase of 44% against the previous year. Over the period under review, imports attained the maximum at X units in 2012; however, from 2013 to 2022, imports failed to regain momentum.

In value terms, boring machinery imports declined to $X in 2022. In general, imports showed a deep reduction. The most prominent rate of growth was recorded in 2018 with an increase of 59%. Over the period under review, imports attained the peak figure at $X in 2013; however, from 2014 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, Zimbabwe (X units) was the major importer of boring or sinking machinery, achieving 36% of total imports. Tanzania (X units) took an 18% share (based on physical terms) of total imports, which put it in second place, followed by Botswana (11%), South Africa (8.5%), Democratic Republic of the Congo (7.8%), Zambia (6.5%) and Angola (4.6%).

Zimbabwe was also the fastest-growing in terms of the boring or sinking machinery imports, with a CAGR of +19.4% from 2012 to 2022. At the same time, Botswana (+5.1%) and Democratic Republic of the Congo (+1.9%) displayed positive paces of growth. By contrast, Angola (-6.7%), Tanzania (-7.2%), Zambia (-10.7%) and South Africa (-24.3%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Zimbabwe, Botswana, Democratic Republic of the Congo and Tanzania increased by +34, +8.3, +5.3 and +3.3 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest boring machinery importing markets in SADC were South Africa ($X), Tanzania ($X) and Zimbabwe ($X), with a combined 62% share of total imports.

Among the main importing countries, Zimbabwe, with a CAGR of +7.3%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced a decline in the imports figures.

Import Prices by Country

The import price in SADC stood at $X per unit in 2022, with an increase of 20% against the previous year. Import price indicated a slight expansion from 2012 to 2022: its price increased at an average annual rate of +1.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, boring machinery import price decreased by -32.2% against 2018 indices. The most prominent rate of growth was recorded in 2013 when the import price increased by 89% against the previous year. As a result, import price attained the peak level of $X per unit. From 2014 to 2022, the import prices remained at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was South Africa ($X per unit), while Zimbabwe ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by South Africa (+22.5%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform