SADC: Non-Electric Industrial Furnace Market 2024

Non-Electric Industrial Furnace Market Size in SADC

The SADC non-electric industrial furnace market soared to $X in 2022, growing by 38% against the previous year. Overall, consumption showed measured growth. As a result, consumption reached the peak level of $X. From 2014 to 2022, the growth of the market remained at a somewhat lower figure.

Non-Electric Industrial Furnace Production in SADC

In value terms, non-electric industrial furnace production fell to $X in 2022 estimated in export price. In general, production, however, posted a modest expansion. The pace of growth was the most pronounced in 2014 with an increase of 131%. The level of production peaked at $X in 2019; however, from 2020 to 2022, production remained at a lower figure.

Non-Electric Industrial Furnace Exports

Exports in SADC

In 2022, approx. X units of non-electric industrial or laboratory furnaces and ovens were exported in SADC; jumping by 169% against the previous year. Over the period under review, exports showed noticeable growth. The volume of export peaked at X units in 2013; however, from 2014 to 2022, the exports stood at a somewhat lower figure.

In value terms, non-electric industrial furnace exports surged to $X in 2022. Overall, exports posted a resilient expansion. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

In 2022, South Africa (X units) was the major exporter of non-electric industrial or laboratory furnaces and ovens in SADC, achieving 98% of total export.

South Africa was also the fastest-growing in terms of the non-electric industrial or laboratory furnaces and ovens exports, with a CAGR of +2.7% from 2012 to 2022. The shares of the largest exporters remained relatively stable throughout the analyzed period.

In value terms, South Africa ($X) also remains the largest non-electric industrial furnace supplier in SADC.

From 2012 to 2022, the average annual growth rate of value in South Africa totaled +6.4%.

Export Prices by Country

The export price in SADC stood at $X per unit in 2022, picking up by 15% against the previous year. Export price indicated notable growth from 2012 to 2022: its price increased at an average annual rate of +3.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2014 an increase of 118% against the previous year. As a result, the export price attained the peak level of $X per unit. From 2015 to 2022, the export prices remained at a lower figure.

As there is only one major export destination, the average price level is determined by prices for South Africa.

From 2012 to 2022, the rate of growth in terms of prices for South Africa amounted to +3.6% per year.

Non-Electric Industrial Furnace Imports

Imports in SADC

In 2022, supplies from abroad of non-electric industrial or laboratory furnaces and ovens was finally on the rise to reach X units after five years of decline. Over the period under review, imports saw a moderate expansion. The most prominent rate of growth was recorded in 2013 when imports increased by 415% against the previous year. As a result, imports attained the peak of X units. From 2014 to 2022, the growth of imports remained at a lower figure.

In value terms, non-electric industrial furnace imports skyrocketed to $X in 2022. In general, imports, however, showed a mild setback. The pace of growth was the most pronounced in 2013 when imports increased by 289% against the previous year. As a result, imports attained the peak of $X. From 2014 to 2022, the growth of imports remained at a somewhat lower figure.

Imports by Country

Tanzania was the main importing country with an import of about X units, which accounted for 54% of total imports. South Africa (X units) held the second position in the ranking, distantly followed by Zambia (X units). All these countries together held approx. 36% share of total imports. The following importers - Zimbabwe (X units), Democratic Republic of the Congo (X units) and Angola (X units) - each amounted to a 6.3% share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by Tanzania (with a CAGR of +26.7%), while imports for the other leaders experienced more modest paces of growth.

In value terms, South Africa ($X) constitutes the largest market for imported non-electric industrial or laboratory furnaces and ovens in SADC, comprising 56% of total imports. The second position in the ranking was held by Tanzania ($X), with a 26% share of total imports. It was followed by Zambia, with a 5.8% share.

From 2012 to 2022, the average annual rate of growth in terms of value in South Africa stood at -4.7%. The remaining importing countries recorded the following average annual rates of imports growth: Tanzania (+10.7% per year) and Zambia (-1.9% per year).

Import Prices by Country

The import price in SADC stood at $X per unit in 2022, with a decrease of -10.7% against the previous year. In general, the import price continues to indicate a noticeable shrinkage. The most prominent rate of growth was recorded in 2018 when the import price increased by 25% against the previous year. The level of import peaked at $X per unit in 2012; however, from 2013 to 2022, import prices stood 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 ($X per unit), while Tanzania ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Zambia (+1.3%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform