South Africa: Metal Vehicle Lock Market 2024

Metal Vehicle Lock Market Size in South Africa

In 2021, after two years of decline, there was significant growth in the South African metal vehicle lock market, when its value increased by 71% to $X. The market value increased at an average annual rate of +1.4% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Metal Vehicle Lock Exports

Exports from South Africa

For the fifth consecutive year, South Africa recorded decline in overseas shipments of base metal motor vehicle locks, which decreased by -6.2% to X tons in 2021. In general, exports saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2014 with an increase of 155%. As a result, the exports attained the peak of X tons. From 2015 to 2021, the growth of the exports remained at a somewhat lower figure.

In value terms, metal vehicle lock exports stood at $X in 2021. Overall, exports, however, showed notable growth. The pace of growth was the most pronounced in 2014 with an increase of 249%. As a result, the exports attained the peak of $X. From 2015 to 2021, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Namibia (X tons), the United States (X tons) and Botswana (X tons) were the main destinations of metal vehicle lock exports from South Africa, with a combined 49% share of total exports. These countries were followed by Swaziland, Zimbabwe, Zambia, Mozambique and Thailand, which together accounted for a further 35%.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Thailand (with a CAGR of +140.8%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for metal vehicle lock exported from South Africa were Namibia ($X), Botswana ($X) and the United States ($X), with a combined 57% share of total exports. These countries were followed by Thailand, Zimbabwe, Mozambique, Swaziland and Zambia, which together accounted for a further 29%.

Among the main countries of destination, Thailand, with a CAGR of +125.7%, recorded the highest growth rate of the value of exports, 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 metal vehicle lock export price amounted to $X per ton, jumping by 16% against the previous year. Over the period under review, export price indicated a temperate expansion from 2012 to 2021: its price increased at an average annual rate of +3.5% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, metal vehicle lock export price increased by +69.2% against 2015 indices. The pace of growth was the most pronounced in 2014 when the average export price increased by 37%. The export price peaked in 2021 and is likely to see steady growth in years to come.

Prices varied noticeably country of destination: the country with the highest price was Thailand ($X per ton), while the average price for exports to Swaziland ($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 Botswana (+8.1%), while the prices for the other major destinations experienced more modest paces of growth.

Metal Vehicle Lock Imports

Imports into South Africa

In 2021, after two years of decline, there was significant growth in purchases abroad of base metal motor vehicle locks, when their volume increased by 72% to X tons. The total import volume increased at an average annual rate of +3.9% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, metal vehicle lock imports soared to $X in 2021. Over the period under review, imports, however, showed a relatively flat trend pattern. Over the period under review, imports hit record highs at $X in 2018; however, from 2019 to 2021, imports stood at a somewhat lower figure.

Imports by Country

China (X tons), Germany (X tons) and the Czech Republic (X tons) were the main suppliers of metal vehicle lock imports to South Africa, together comprising 69% of total imports. These countries were followed by Bulgaria, India, Taiwan (Chinese), Portugal, Japan and Italy, which together accounted for a further 24%.

From 2012 to 2021, the biggest increases were recorded for Bulgaria (with a CAGR of +138.0%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the Czech Republic ($X), Germany ($X) and China ($X) appeared to be the largest metal vehicle lock suppliers to South Africa, with a combined 67% share of total imports. Bulgaria, Japan, Taiwan (Chinese), Italy, India and Portugal lagged somewhat behind, together accounting for a further 22%.

In terms of the main suppliers, Bulgaria, with a CAGR of +92.6%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average metal vehicle lock import price stood at $X per ton in 2021, reducing by -6.4% against the previous year. In general, the import price showed a pronounced reduction. The most prominent rate of growth was recorded in 2018 an increase of 6.8%. The import price peaked at $X per ton in 2012; however, from 2013 to 2021, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was Japan ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Italy (+11.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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