South Africa: Market for Lathes For Removing Metal 2024

Market Size for Lathes For Removing Metal in South Africa

In 2021, the South African lathe for removing metal market decreased by -10.1% to $X for the first time since 2018, thus ending a two-year rising trend. Over the period under review, consumption showed a relatively flat trend pattern. Lathe for removing metal consumption peaked at $X in 2020, and then reduced in the following year.

Production of Lathes For Removing Metal in South Africa

In value terms, lathe for removing metal production reduced to $X in 2021 estimated in export price. In general, production, however, showed a significant expansion. The most prominent rate of growth was recorded in 2016 with an increase of 266% against the previous year. Lathe for removing metal production peaked at $X in 2017; however, from 2018 to 2021, production failed to regain momentum.

Exports of Lathes For Removing Metal

Exports from South Africa

Lathe for removing metal exports from South Africa dropped markedly to X units in 2021, shrinking by -31.1% compared with 2020. Over the period under review, exports, however, recorded a prominent increase. The growth pace was the most rapid in 2016 with an increase of 618%. The exports peaked at X units in 2017; however, from 2018 to 2021, the exports remained at a lower figure.

In value terms, lathe for removing metal exports surged to $X in 2021. In general, exports showed a noticeable setback. The pace of growth appeared the most rapid in 2016 when exports increased by 40% against the previous year. Over the period under review, the lafor removing metal exports attained the maximum at $X in 2017; however, from 2018 to 2021, the exports failed to regain momentum.

Exports by Country

India (X units), Zimbabwe (X units) and Mozambique (X units) were the main destinations of lathe for removing metal exports from South Africa, with a combined 54% share of total exports.

From 2012 to 2021, the biggest increases were recorded for India (with a CAGR of +46.2%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Zimbabwe ($X) remains the key foreign market for lathes for removing metal exports from South Africa, comprising 33% of total exports. The second position in the ranking was taken by Mozambique ($X), with a 15% share of total exports. It was followed by Democratic Republic of the Congo, with a 15% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Zimbabwe totaled +9.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Mozambique (+1.2% per year) and Democratic Republic of the Congo (+0.6% per year).

Export Prices by Country

In 2021, the average lathe for removing metal export price amounted to $X per unit, with an increase of 96% against the previous year. In general, the export price, however, faced a deep reduction. The growth pace was the most rapid in 2018 an increase of 180% against the previous year. Over the period under review, the average export prices hit record highs at $X per unit in 2013; however, from 2014 to 2021, the export prices failed to regain momentum.

There were significant differences in the average prices for the major overseas markets. In 2021, amid the top suppliers, the country with the highest price was Democratic Republic of the Congo ($X per unit), while the average price for exports to Canada ($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 Kenya (+5.0%), while the prices for the other major destinations experienced mixed trend patterns.

Imports of Lathes For Removing Metal

Imports into South Africa

In 2021, after three years of growth, there was significant decline in overseas purchases of lathes for removing metal, when their volume decreased by -16.6% to X units. Overall, imports faced a abrupt curtailment. The pace of growth was the most pronounced in 2018 when imports increased by 22%. Over the period under review, lafor removing metal imports reached the peak figure at X units in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

In value terms, lathe for removing metal imports surged to $X in 2021. In general, imports showed a abrupt contraction. Over the period under review, lafor removing metal imports attained the maximum at $X in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, China (X units) constituted the largest lathe for removing metal supplier to South Africa, with a 69% share of total imports. Moreover, lathe for removing metal imports from China exceeded the figures recorded by the second-largest supplier, Taiwan (Chinese) (X units), more than tenfold. The third position in this ranking was taken by the United States (X units), with a 6% share.

From 2012 to 2021, the average annual growth rate of volume from China totaled -12.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Taiwan (Chinese) (-3.8% per year) and the United States (-6.3% per year).

In value terms, the largest lathe for removing metal suppliers to South Africa were Taiwan (Chinese) ($X), China ($X) and South Korea ($X), together comprising 72% of total imports. The United States, Malaysia and the UK lagged somewhat behind, together accounting for a further 14%.

In terms of the main suppliers, Malaysia, with a CAGR of +208.0%, recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced a decline.

Import Prices by Country

The average lathe for removing metal import price stood at $X per unit in 2021, picking up by 47% against the previous year. Overall, the import price posted a modest increase. The most prominent rate of growth was recorded in 2015 when the average import price increased by 55%. Over the period under review, average import prices hit record highs at $X per unit in 2017; however, from 2018 to 2021, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was South Korea ($X per unit), while the price for China ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+4.7%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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