SADC: Market for Machines For Balancing Mechanical Parts 2024

Market Size for Machines For Balancing Mechanical Parts in SADC

In 2021, after two years of decline, there was growth in the SADC balancing mechanical parts machine market, when its value increased by 0.6% to $X. The total consumption indicated a remarkable increase from 2012 to 2021: its value increased at an average annual rate of +5.4% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption decreased by -27.4% against 2016 indices. As a result, consumption attained the peak level of $X. From 2017 to 2021, the growth of the market remained at a lower figure.

Production of Machines For Balancing Mechanical Parts in SADC

In value terms, balancing mechanical parts machine production rose rapidly to $X in 2021 estimated in export price. In general, production enjoyed a prominent expansion. The most prominent rate of growth was recorded in 2014 when the production volume increased by 116% against the previous year. Over the period under review, production reached the peak level at $X in 2016; however, from 2017 to 2021, production remained at a lower figure.

Exports of Machines For Balancing Mechanical Parts

Exports in SADC

Balancing mechanical parts machine exports surged to X units in 2021, rising by 53% on the previous year's figure. Over the period under review, exports, however, continue to indicate a abrupt shrinkage. The pace of growth appeared the most rapid in 2014 when exports increased by 66% against the previous year. As a result, the exports reached the peak of X units. From 2015 to 2021, the growth of the exports failed to regain momentum.

In value terms, balancing mechanical parts machine exports surged to $X in 2021. Overall, exports, however, showed a perceptible downturn. Over the period under review, the exports hit record highs at $X in 2019; however, from 2020 to 2021, the exports remained at a lower figure.

Exports by Country

South Africa dominates exports structure, reaching X units, which was approx. 95% of total exports in 2021. Namibia (X units) held a little share of total exports.

From 2012 to 2021, average annual rates of growth with regard to balancing mechanical parts machine exports from South Africa stood at -17.2%. At the same time, Namibia (+12.4%) displayed positive paces of growth. Moreover, Namibia emerged as the fastest-growing exporter exported in SADC, with a CAGR of +12.4% from 2012-2021. While the share of Namibia (+3.6 p.p.) increased significantly in terms of the total exports from 2012-2021, the share of South Africa (-4.2 p.p.) displayed negative dynamics.

In value terms, South Africa ($X) remains the largest balancing mechanical parts machine supplier in SADC, comprising 89% of total exports. The second position in the ranking was taken by Namibia ($X), with a 7.4% share of total exports.

In South Africa, balancing mechanical parts machine exports plunged by an average annual rate of -2.4% over the period from 2012-2021.

Export Prices by Country

In 2021, the export price in SADC amounted to $X per unit, declining by -3.8% against the previous year. Overall, the export price, however, saw a resilient increase. The pace of growth appeared the most rapid in 2016 when the export price increased by 154% against the previous year. Over the period under review, the export prices hit record highs at $X per unit in 2019; however, from 2020 to 2021, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2021, the country with the highest price was Namibia ($X per unit), while South Africa amounted to $X per unit.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by South Africa (+17.8%).

Imports of Machines For Balancing Mechanical Parts

Imports in SADC

In 2021, approx. X units of machines for balancing mechanical parts were imported in SADC; declining by -21.6% against the year before. In general, imports showed a deep reduction. The most prominent rate of growth was recorded in 2013 when imports increased by 51%. As a result, imports reached the peak of X units. From 2014 to 2021, the growth of imports failed to regain momentum.

In value terms, balancing mechanical parts machine imports surged to $X in 2021. Over the period under review, imports showed a pronounced setback. Over the period under review, imports attained the peak figure at $X in 2013; however, from 2014 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, South Africa (X units) represented the main importer of machines for balancing mechanical parts, committing 60% of total imports. Tanzania (X units) ranks second in terms of the total imports with a 16% share, followed by Zimbabwe (13%). The following importers - Zambia (X units) and Mozambique (X units) - each finished at a 3.9% share of total imports.

From 2012 to 2021, average annual rates of growth with regard to balancing mechanical parts machine imports into South Africa stood at -6.6%. At the same time, Tanzania (+4.0%) displayed positive paces of growth. Moreover, Tanzania emerged as the fastest-growing importer imported in SADC, with a CAGR of +4.0% from 2012-2021. By contrast, Zambia (-2.6%), Zimbabwe (-6.0%) and Mozambique (-7.4%) illustrated a downward trend over the same period. While the share of Tanzania (+10 p.p.), South Africa (+4.1 p.p.) and Zimbabwe (+1.5 p.p.) increased significantly, the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, South Africa ($X) constitutes the largest market for imported machines for balancing mechanical parts in SADC, comprising 79% of total imports. The second position in the ranking was taken by Zimbabwe ($X), with a 3.4% share of total imports. It was followed by Tanzania, with a 2.7% share.

In South Africa, balancing mechanical parts machine imports shrank by an average annual rate of -2.4% over the period from 2012-2021. The remaining importing countries recorded the following average annual rates of imports growth: Zimbabwe (-10.3% per year) and Tanzania (+0.2% per year).

Import Prices by Country

In 2021, the import price in SADC amounted to $X per unit, surging by 74% against the previous year. Import price indicated a moderate expansion from 2012 to 2021: its price increased at an average annual rate of +3.9% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by South Africa (+4.5%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform