South Africa: Lift And Hoist Market 2024

Lift And Hoist Market Size in South Africa

In 2022, the South African lift and hoist market decreased by -42% to $X, falling for the second consecutive year after two years of growth. In general, consumption recorded a dramatic setback. Lift and hoist consumption peaked at $X in 2013; however, from 2014 to 2022, consumption stood at a somewhat lower figure.

Lift And Hoist Exports

Exports from South Africa

In 2022, the amount of lifts and hoists exported from South Africa reached X units, standing approx. at the previous year's figure. In general, exports posted a buoyant increase. The pace of growth was the most pronounced in 2020 when exports increased by 1,238% against the previous year. As a result, the exports attained the peak of X units. From 2021 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, lift and hoist exports reached $X in 2022. Overall, exports, however, continue to indicate a noticeable decline. The pace of growth was the most pronounced in 2020 with an increase of 152% against the previous year. As a result, the exports attained the peak of $X. From 2021 to 2022, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Zimbabwe (X units) was the main destination for lift and hoist exports from South Africa, with a 40% share of total exports. Moreover, lift and hoist exports to Zimbabwe exceeded the volume sent to the second major destination, Zambia (X units), threefold. Ghana (X units) ranked third in terms of total exports with a 9.6% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Zimbabwe stood at +30.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Zambia (-1.1% per year) and Ghana (+16.3% per year).

In value terms, the largest markets for lift and hoist exported from South Africa were Ghana ($X), Zimbabwe ($X) and Malawi ($X), together accounting for 73% of total exports. Zambia, Botswana, Swaziland, Namibia, Democratic Republic of the Congo, Mozambique, Tanzania and Australia lagged somewhat behind, together accounting for a further 20%.

Among the main countries of destination, Australia, with a CAGR of +60.2%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average lift and hoist export price amounted to $X per unit, rising by 7.9% against the previous year. Over the period under review, the export price, however, showed a deep downturn. The pace of growth was the most pronounced in 2021 when the average export price increased by 345% against the previous year. The export price peaked at $X per unit in 2013; however, from 2014 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Ghana ($X per unit), while the average price for exports to Australia ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Canada (+108.4%), while the prices for the other major destinations experienced mixed trend patterns.

Lift And Hoist Imports

Imports into South Africa

In 2022, purchases abroad of lifts and hoists decreased by -40.5% to X units, falling for the second year in a row after two years of growth. Over the period under review, imports saw a significant decrease. The growth pace was the most rapid in 2020 with an increase of 405% against the previous year. Over the period under review, imports reached the maximum at X units in 2013; however, from 2014 to 2022, imports failed to regain momentum.

In value terms, lift and hoist imports dropped to $X in 2022. Overall, imports recorded a abrupt descent. The pace of growth appeared the most rapid in 2020 with an increase of 13%. Imports peaked at $X in 2013; however, from 2014 to 2022, imports failed to regain momentum.

Imports by Country

Italy (X units), China (X units) and Spain (X units) were the main suppliers of lift and hoist imports to South Africa, with a combined 92% share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Spain (with a CAGR of -8.3%), while imports for the other leaders experienced a decline.

In value terms, China ($X) constituted the largest supplier of lifts and hoists to South Africa, comprising 66% of total imports. The second position in the ranking was held by Spain ($X), with a 14% share of total imports. It was followed by Italy, with a 5% share.

From 2012 to 2022, the average annual rate of growth in terms of value from China stood at -9.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Spain (-8.5% per year) and Italy (-8.2% per year).

Import Prices by Country

In 2022, the average lift and hoist import price amounted to $X per unit, jumping by 49% against the previous year. Over the period under review, the import price continues to indicate significant growth. The most prominent rate of growth was recorded in 2021 when the average import price increased by 603%. The import price peaked in 2022 and is expected to retain growth in years to come.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was China ($X per unit), while the price for South Korea ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Austria (+59.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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