SADC: Lifting Equipment Market 2024

Lifting Equipment Market Size in SADC

The SADC lifting equipment market rose slightly to $X in 2021, with an increase of 4.9% against the previous year. The total consumption indicated a slight expansion from 2012 to 2021: its value increased at an average annual rate of +1.9% 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 +69.2% against 2016 indices. The level of consumption peaked in 2021 and is likely to see gradual growth in years to come.

Lifting Equipment Production in SADC

In value terms, lifting equipment production dropped to $X in 2021 estimated in export price. The total production indicated a mild increase from 2012 to 2021: its value increased at an average annual rate of +1.7% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production increased by +69.7% against 2016 indices. The most prominent rate of growth was recorded in 2019 with an increase of 20%. The level of production peaked at $X in 2020, and then declined in the following year.

Lifting Equipment Exports

Exports in SADC

In 2021, the amount of lifting equipment exported in SADC contracted markedly to X units, falling by -32.5% against the previous year. In general, exports recorded a slight decrease. The growth pace was the most rapid in 2014 with an increase of 134% against the previous year. Over the period under review, the exports attained the peak figure at X units in 2018; however, from 2019 to 2021, the exports remained at a lower figure.

In value terms, lifting equipment exports skyrocketed to $X in 2021. Over the period under review, exports recorded a abrupt decrease. The most prominent rate of growth was recorded in 2017 with an increase of 61%. The level of export peaked at $X in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

Exports by Country

South Africa prevails in exports structure, reaching X units, which was near 92% of total exports in 2021. The following exporters - Tanzania (X units), Botswana (X units) and Mauritius (X units) - each resulted at a 5.3% share of total exports.

Exports from South Africa increased at an average annual rate of +4.1% from 2012 to 2021. At the same time, Tanzania (+11.5%), Mauritius (+4.6%) and Botswana (+1.7%) displayed positive paces of growth. Moreover, Tanzania emerged as the fastest-growing exporter exported in SADC, with a CAGR of +11.5% from 2012-2021. South Africa (+34 p.p.) significantly strengthened its position in terms of the total exports, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, South Africa ($X) remains the largest lifting equipment supplier in SADC, comprising 71% of total exports. The second position in the ranking was taken by Tanzania ($X), with a 13% share of total exports. It was followed by Botswana, with a 10% share.

In South Africa, lifting equipment exports contracted by an average annual rate of -6.3% over the period from 2012-2021. In the other countries, the average annual rates were as follows: Tanzania (+42.4% per year) and Botswana (+0.3% per year).

Export Prices by Country

The export price in SADC stood at $X per unit in 2021, growing by 114% against the previous year. In general, the export price, however, recorded a noticeable decline. The pace of growth appeared the most rapid in 2019 an increase of 164% against the previous year. Over the period under review, the export prices attained the peak figure at $X per unit in 2013; however, from 2014 to 2021, the export prices failed to regain momentum.

There were significant differences in the average prices amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was Tanzania ($X per unit), while Mauritius ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Tanzania (+24.9%), while the other leaders experienced a decline in the export price figures.

Lifting Equipment Imports

Imports in SADC

In 2021, the amount of lifting equipment imported in SADC reached X units, growing by 3.7% on the previous year. Over the period under review, imports saw a perceptible increase. The most prominent rate of growth was recorded in 2017 with an increase of 73%. As a result, imports attained the peak of X units. From 2018 to 2021, the growth of imports failed to regain momentum.

In value terms, lifting equipment imports skyrocketed to $X in 2021. In general, imports, however, continue to indicate a mild curtailment. The pace of growth was the most pronounced in 2019 with an increase of 60% against the previous year. Over the period under review, imports reached the maximum at $X in 2014; however, from 2015 to 2021, imports remained at a lower figure.

Imports by Country

South Africa (X units) and Tanzania (X units) represented the key importers of lifting equipment in 2021, finishing at near 35% and 30% of total imports, respectively. Mozambique (X units) ranks next in terms of the total imports with a 12% share, followed by Seychelles (9.5%) and Democratic Republic of the Congo (7%). Mauritius (X units) held a minor share of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by Seychelles (with a CAGR of +38.1%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Tanzania ($X) constitutes the largest market for imported lifting equipment in SADC, comprising 57% of total imports. The second position in the ranking was taken by Democratic Republic of the Congo ($X), with a 17% share of total imports. It was followed by South Africa, with an 8.2% share.

In Tanzania, lifting equipment imports increased at an average annual rate of +44.2% over the period from 2012-2021. In the other countries, the average annual rates were as follows: Democratic Republic of the Congo (+7.7% per year) and South Africa (-0.6% per year).

Import Prices by Country

The import price in SADC stood at $X per unit in 2021, picking up by 11% against the previous year. Overall, the import price, however, showed a noticeable descent. The pace of growth was the most pronounced in 2019 an increase of 36% against the previous year. Over the period under review, import prices reached the maximum at $X per unit in 2012; however, from 2013 to 2021, import prices failed to regain momentum.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Democratic Republic of the Congo (+9.6%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform