South Africa: Metal Honing Machine Market 2024

Metal Honing Machine Market Size in South Africa

In 2021, the South African metal honing machine market decreased by -79.1% to $X, falling for the fourth consecutive year after three years of growth. Overall, consumption faced a dramatic decrease. Metal honing machine consumption peaked at $X in 2012; however, from 2013 to 2021, consumption failed to regain momentum.

Metal Honing Machine Production in South Africa

In value terms, metal honing machine production stood at $X in 2021 estimated in export price. The total output value increased at an average annual rate of +1.1% over the period from 2012 to 2021; the trend pattern remained consistent, with only minor fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2018 with an increase of 3.9%. Over the period under review, production hit record highs at $X in 2019; however, from 2020 to 2021, production failed to regain momentum.

Metal Honing Machine Exports

Exports from South Africa

In 2021, overseas shipments of honing or lapping machines for working metal increased by 644% to X units, rising for the second consecutive year after two years of decline. In general, exports, however, showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2017 when exports increased by 989% against the previous year. The exports peaked at X units in 2013; however, from 2014 to 2021, the exports failed to regain momentum.

In value terms, metal honing machine exports surged to $X in 2021. Overall, exports recorded a notable expansion. Over the period under review, the exports attained the peak figure at $X in 2013; however, from 2014 to 2021, the exports failed to regain momentum.

Exports by Country

Democratic Republic of the Congo (X units) was the main destination for metal honing machine exports from South Africa, with a 79% share of total exports. Moreover, metal honing machine exports to Democratic Republic of the Congo exceeded the volume sent to the second major destination, Botswana (X units), eightfold. Mozambique (X units) ranked third in terms of total exports with a 9.5% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Democratic Republic of the Congo totaled +621.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Botswana (+161.8% per year) and Mozambique (+41.3% per year).

In value terms, Democratic Republic of the Congo ($X) emerged as the key foreign market for honing or lapping machines for working metal exports from South Africa, comprising 81% of total exports. The second position in the ranking was held by Mozambique ($X), with a 12% share of total exports. It was followed by Botswana, with a 5.3% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Democratic Republic of the Congo stood at +149.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Mozambique (+31.2% per year) and Botswana (+59.2% per year).

Export Prices by Country

The average metal honing machine export price stood at $X per unit in 2021, picking up by 129% against the previous year. Overall, the export price showed a measured expansion. The pace of growth appeared the most rapid in 2018 an increase of 575%. The export price peaked at $X per unit in 2016; however, from 2017 to 2021, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Mozambique ($X per unit), while the average price for exports to Swaziland ($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 Madagascar (+237.2%), while the prices for the other major destinations experienced more modest paces of growth.

Metal Honing Machine Imports

Imports into South Africa

In 2021, overseas purchases of honing or lapping machines for working metal were finally on the rise to reach X units after three years of decline. Overall, imports, however, showed a dramatic decrease. Over the period under review, imports attained the maximum at X units in 2012; however, from 2013 to 2021, imports failed to regain momentum.

In value terms, metal honing machine imports skyrocketed to $X in 2021. Over the period under review, imports, however, showed a sharp reduction. The most prominent rate of growth was recorded in 2017 when imports increased by 499% against the previous year. Over the period under review, imports attained the peak figure at $X in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, Hong Kong SAR (X units) constituted the largest metal honing machine supplier to South Africa, accounting for a 51% share of total imports. Moreover, metal honing machine imports from Hong Kong SAR exceeded the figures recorded by the second-largest supplier, the UK (X units), threefold. The third position in this ranking was held by China (X units), with a 13% share.

From 2012 to 2021, the average annual growth rate of volume from Hong Kong SAR amounted to +91.4%. The remaining supplying countries recorded the following average annual rates of imports growth: the UK (-11.9% per year) and China (+19.0% per year).

In value terms, the largest metal honing machine suppliers to South Africa were China ($X), Hong Kong SAR ($X) and the UK ($X), together accounting for 59% of total imports.

Hong Kong SAR, with a CAGR of +103.5%, saw the highest rates of growth with regard to the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the average metal honing machine import price amounted to $X per unit, declining by -13.3% against the previous year. Over the period under review, the import price showed a deep downturn. The pace of growth was the most pronounced in 2017 when the average import price increased by 231% against the previous year. The import price peaked at $X per unit 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, amid the top importers, the country with the highest price was the Netherlands ($X per unit), while the price for Hong Kong SAR ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Switzerland (+37.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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