South Africa: Lifting Equipment Market 2024

Lifting Equipment Market Size in South Africa

In 2021, after six years of growth, there was significant decline in the South African lifting equipment market, when its value decreased by -10.8% to $X. Overall, consumption showed a slight curtailment. Over the period under review, the market hit record highs at $X in 2012; however, from 2013 to 2021, consumption remained at a lower figure.

Lifting Equipment Production in South Africa

In value terms, lifting equipment production amounted to $X in 2021 estimated in export price. Over the period under review, production, however, continues to indicate a slight decline. The most prominent rate of growth was recorded in 2015 when the production volume increased by 1,145%. Lifting equipment production peaked at $X in 2012; however, from 2013 to 2021, production stood at a somewhat lower figure.

Lifting Equipment Exports

Exports from South Africa

In 2021, after two years of growth, there was significant decline in overseas shipments of lifting equipment, when their volume decreased by -32.8% to X units. Overall, exports, however, saw a tangible increase. The most prominent rate of growth was recorded in 2020 with an increase of 297% against the previous year. As a result, the exports reached the peak of X units, and then fell sharply in the following year.

In value terms, lifting equipment exports skyrocketed to $X in 2021. Over the period under review, exports showed a abrupt descent. The most prominent rate of growth was recorded in 2019 with an increase of 66%. Over the period under review, the exports reached the maximum at $X in 2014; however, from 2015 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

The Netherlands (X units) was the main destination for lifting equipment exports from South Africa, accounting for a 84% share of total exports. Moreover, lifting equipment exports to the Netherlands exceeded the volume sent to the second major destination, Malawi (X units), sevenfold. The third position in this ranking was taken by Botswana (X units), with a 0.8% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to the Netherlands amounted to +48.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Malawi (+51.1% per year) and Botswana (-29.3% per year).

In value terms, the Netherlands ($X) emerged as the key foreign market for lifting equipment exports from South Africa, comprising 85% of total exports. The second position in the ranking was taken by Malawi ($X), with a 3.8% share of total exports. It was followed by Botswana, with a 2.4% share.

From 2012 to 2021, the average annual growth rate of value to the Netherlands amounted to +42.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Malawi (+32.4% per year) and Botswana (-29.2% per year).

Export Prices by Country

In 2021, the average lifting equipment export price amounted to $X per unit, rising by 123% against the previous year. In general, the export price, however, recorded a drastic downturn. The export price peaked at $X per unit in 2013; however, from 2014 to 2021, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Botswana ($X per unit), while the average price for exports to Malawi ($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 Botswana (+0.9%), while the prices for the other major destinations experienced a decline.

Lifting Equipment Imports

Imports into South Africa

In 2021, approx. X units of lifting equipment were imported into South Africa; reducing by -53.7% compared with the year before. Overall, imports, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 when imports increased by 299%. Imports peaked at X units in 2014; however, from 2015 to 2021, imports remained at a lower figure.

In value terms, lifting equipment imports declined notably to $X in 2021. In general, imports continue to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2013 with an increase of 355%. Over the period under review, imports reached the maximum at $X in 2014; however, from 2015 to 2021, imports stood at a somewhat lower figure.

Imports by Country

China (X units), France (X units) and Australia (X units) were the main suppliers of lifting equipment imports to South Africa, with a combined 85% share of total imports. These countries were followed by the United States, Serbia and the UK, which together accounted for a further 12%.

From 2012 to 2021, the biggest increases were recorded for the United States (with a CAGR of +55.1%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the United States ($X), China ($X) and France ($X) constituted the largest lifting equipment suppliers to South Africa, with a combined 60% share of total imports. Australia, the UK and Serbia lagged somewhat behind, together accounting for a further 6.4%.

In terms of the main suppliers, Australia, with a CAGR of +69.7%, 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 more modest paces of growth.

Import Prices by Country

The average lifting equipment import price stood at $X per unit in 2021, shrinking by -72.1% against the previous year. Over the period under review, the import price recorded a slight downturn. The pace of growth appeared the most rapid in 2013 when the average import price increased by 149% against the previous year. The import price peaked at $X per unit in 2014; however, from 2015 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 United States ($X per unit), while the price for Serbia ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Brazil (+116.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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