South Africa: Gear Cutting Machine Market 2024

Gear Cutting Machine Market Size in South Africa

The South African gear cutting machine market dropped sharply to $X in 2021, falling by -22.4% against the previous year. In general, consumption, however, continues to indicate a relatively flat trend pattern. Gear cutting machine consumption peaked at $X in 2018; however, from 2019 to 2021, consumption failed to regain momentum.

Gear Cutting Machine Production in South Africa

In value terms, gear cutting machine production stood at $X in 2021 estimated in export price. Over the period under review, production, however, saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2017 when the production volume increased by 11%. As a result, production attained the peak level of $X; afterwards, it flattened through to 2021.

Gear Cutting Machine Exports

Exports from South Africa

Gear cutting machine exports from South Africa skyrocketed to X units in 2021, jumping by 48% compared with the previous year. Overall, exports, however, saw a deep downturn. The pace of growth was the most pronounced in 2014 when exports increased by 921%. As a result, the exports attained the peak of X units. From 2015 to 2021, the growth of the exports failed to regain momentum.

In value terms, gear cutting machine exports surged to $X in 2021. In general, exports, however, continue to indicate a abrupt contraction. The most prominent rate of growth was recorded in 2014 when exports increased by 802% against the previous year. As a result, the exports reached the peak of $X. From 2015 to 2021, the growth of the exports remained at a lower figure.

Exports by Country

Zimbabwe (X units) was the main destination for gear cutting machine exports from South Africa, with a 57% share of total exports. Moreover, gear cutting machine exports to Zimbabwe exceeded the volume sent to the second major destination, Lesotho (X units), fivefold. The third position in this ranking was taken by the UK (X units), with a 7.1% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Zimbabwe amounted to +39.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Lesotho (+54.4% per year) and the UK (-44.9% per year).

In value terms, Zimbabwe ($X) emerged as the key foreign market for gear cutting, gear grinding or gear finishing machines exports from South Africa, comprising 71% of total exports. The second position in the ranking was taken by Tanzania ($X), with a 7.7% share of total exports. It was followed by Mozambique, with a 5.6% share.

From 2012 to 2021, the average annual growth rate of value to Zimbabwe amounted to +27.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Tanzania (+45.8% per year) and Mozambique (-18.2% per year).

Export Prices by Country

In 2021, the average gear cutting machine export price amounted to $X per unit, with an increase of 39% against the previous year. Over the period under review, the export price, however, saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2017 an increase of 89% against the previous year. As a result, the export price reached the peak level of $X per unit. From 2018 to 2021, the average export prices remained at a lower figure.

There were significant differences in the average prices for the major external markets. In 2021, amid the top suppliers, the country with the highest price was the United States ($X per unit), while the average price for exports to the UK ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Namibia (+36.7%), while the prices for the other major destinations experienced more modest paces of growth.

Gear Cutting Machine Imports

Imports into South Africa

For the third consecutive year, South Africa recorded decline in overseas purchases of gear cutting, gear grinding or gear finishing machines, which decreased by -94.6% to X units in 2021. Over the period under review, imports showed a dramatic decline. The pace of growth was the most pronounced in 2018 when imports increased by 4,919% against the previous year. As a result, imports attained the peak of X units. From 2019 to 2021, the growth of imports remained at a lower figure.

In value terms, gear cutting machine imports contracted dramatically to $X in 2021. In general, imports recorded a significant curtailment. The growth pace was the most rapid in 2017 when imports increased by 380% against the previous year. Over the period under review, imports attained the maximum at $X in 2012; however, from 2013 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, China (X units) constituted the largest supplier of gear cutting machine to South Africa, with a 56% share of total imports. Moreover, gear cutting machine imports from China exceeded the figures recorded by the second-largest supplier, the UK (X units), twofold. The third position in this ranking was held by Hong Kong SAR (X units), with a 5.6% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from China totaled -4.2%. The remaining supplying countries recorded the following average annual rates of imports growth: the UK (-15.2% per year) and Hong Kong SAR (0.0% per year).

In value terms, China ($X), Mexico ($X) and the UK ($X) were the largest gear cutting machine suppliers to South Africa, together comprising 77% of total imports. These countries were followed by Taiwan (Chinese), Germany, the United States and Hong Kong SAR, which together accounted for a further 2.6%.

In terms of the main suppliers, the United States, with a CAGR of +75.6%, 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 gear cutting machine import price stood at $X per unit in 2021, surging by 490% against the previous year. Over the period under review, the import price, however, saw a abrupt contraction. The growth pace was the most rapid in 2017 when the average import price increased by 7,951%. As a result, import price reached the peak level of $X per unit. From 2018 to 2021, the average import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was Mexico ($X per unit), while the price for Hong Kong SAR ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Spain (-12.5%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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