South Africa: Knitting Machines Market 2024

Knitting Machines Market Size in South Africa

The South African knitting machines market skyrocketed to $X in 2021, with an increase of 186% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Over the period under review, consumption continues to indicate a significant expansion. Over the period under review, the market hit record highs in 2021 and is expected to retain growth in the immediate term.

Knitting Machines Exports

Exports from South Africa

In 2021, shipments abroad of knitting machineses increased by 642% to X units, rising for the second year in a row after six years of decline. In general, exports, however, continue to indicate a dramatic slump. Over the period under review, the exports hit record highs at X units in 2013; however, from 2014 to 2021, the exports failed to regain momentum.

In value terms, knitting machines exports shrank dramatically to $X in 2021. Overall, exports, however, faced a deep downturn. The most prominent rate of growth was recorded in 2016 with an increase of 81%. Over the period under review, the exports hit record highs at $X in 2014; however, from 2015 to 2021, the exports remained at a lower figure.

Exports by Country

Canada (X units), Botswana (X units) and Australia (X units) were the main destinations of knitting machines exports from South Africa, together accounting for 52% of total exports.

From 2012 to 2021, the biggest increases were recorded for Botswana (with a CAGR of +78.7%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, India ($X) remains the key foreign market for knitting machineses exports from South Africa, comprising 22% of total exports. The second position in the ranking was taken by the United States ($X), with a 10% share of total exports. It was followed by Botswana, with an 8.7% share.

From 2012 to 2021, the average annual rate of growth in terms of value to India stood at -4.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (-13.5% per year) and Botswana (+2.5% per year).

Export Prices by Country

The average knitting machines export price stood at $X per unit in 2021, falling by -90.9% against the previous year. Over the period under review, the export price, however, showed a strong expansion. The pace of growth was the most pronounced in 2014 an increase of 725% against the previous year. Over the period under review, the average export prices hit record highs at $X per unit in 2019; however, from 2020 to 2021, the export prices failed to regain momentum.

Prices varied noticeably country of destination: the country with the highest price was India ($X per unit), while the average price for exports to China ($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 Uganda (+1,518.0%), while the prices for the other major destinations experienced more modest paces of growth.

Knitting Machines Imports

Imports into South Africa

In 2021, purchases abroad of knitting machineses increased by 195% to X units, rising for the second consecutive year after four years of decline. Over the period under review, imports continue to indicate a significant expansion. The most prominent rate of growth was recorded in 2020 when imports increased by 469%. Over the period under review, imports hit record highs in 2021 and are expected to retain growth in the immediate term.

In value terms, knitting machines imports soared to $X in 2021. In general, imports, however, saw a noticeable shrinkage. The most prominent rate of growth was recorded in 2015 when imports increased by 62% against the previous year. As a result, imports reached the peak of $X. From 2016 to 2021, the growth of imports remained at a lower figure.

Imports by Country

In 2021, China (X units) constituted the largest knitting machines supplier to South Africa, accounting for a 64% share of total imports. Moreover, knitting machines imports from China exceeded the figures recorded by the second-largest supplier, Taiwan (Chinese) (X units), sixfold. Swaziland (X units) ranked third in terms of total imports with an 8.7% share.

From 2012 to 2021, the average annual growth rate of volume from China totaled +36.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Taiwan (Chinese) (+22.8% per year) and Swaziland (+42.1% per year).

In value terms, China ($X) constituted the largest supplier of knitting machineses to South Africa, comprising 55% of total imports. The second position in the ranking was taken by Italy ($X), with an 11% share of total imports. It was followed by Germany, with a 10% share.

From 2012 to 2021, the average annual rate of growth in terms of value from China stood at +10.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (-9.1% per year) and Germany (-9.7% per year).

Import Prices by Country

The average knitting machines import price stood at $X per unit in 2021, with a decrease of -49.2% against the previous year. Over the period under review, the import price recorded a significant contraction. The pace of growth appeared the most rapid in 2017 an increase of 93%. Over the period under review, average import prices reached the peak figure at $X per unit in 2018; however, from 2019 to 2021, import prices stood at a somewhat lower figure.

Prices varied noticeably country of origin: the country with the highest price was Japan ($X per unit), while the price for Swaziland ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the UK (-7.0%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform