South Africa: Market for Machine Tools For Working Metal 2024

Market Size for Machine Tools For Working Metal in South Africa

The South African machine-tool for working metal market skyrocketed to $X in 2021, surging by 149% against the previous year. Overall, consumption recorded a remarkable increase. Machine-tool for working metal consumption peaked in 2021 and is expected to retain growth in the immediate term.

Production of Machine Tools For Working Metal in South Africa

In value terms, machine-tool for working metal production rose notably to $X in 2021 estimated in export price. Over the period under review, production showed a significant increase. The pace of growth was the most pronounced in 2013 when the production volume increased by 323% against the previous year. Machine-tool for working metal production peaked at $X in 2019; however, from 2020 to 2021, production failed to regain momentum.

Exports of Machine Tools For Working Metal

Exports from South Africa

In 2021, shipments abroad of machine tools for working metal decreased by -39.6% to X units, falling for the second year in a row after two years of growth. Over the period under review, exports recorded a deep contraction. The pace of growth appeared the most rapid in 2019 with an increase of 109%. As a result, the exports reached the peak of X units. From 2020 to 2021, the growth of the exports remained at a lower figure.

In value terms, machine-tool for working metal exports dropped markedly to $X in 2021. Overall, exports showed a drastic downturn. The pace of growth was the most pronounced in 2015 with an increase of 110% against the previous year. Over the period under review, the exports attained the maximum at $X in 2019; however, from 2020 to 2021, the exports remained at a lower figure.

Exports by Country

Namibia (X units), Zimbabwe (X units) and Zambia (X units) were the main destinations of machine-tool for working metal exports from South Africa, together comprising 59% of total exports. These countries were followed by Italy, Malawi, Germany, Mexico, Mozambique, Botswana and Kenya, which together accounted for a further 27%.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Mexico (with a CAGR of +58.3%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for machine-tool for working metal exported from South Africa were Zimbabwe ($X), Italy ($X) and Namibia ($X), together accounting for 35% of total exports. Mexico, Botswana, Germany, Mozambique, Malawi, Zambia and Kenya lagged somewhat behind, together comprising a further 25%.

Among the main countries of destination, Mexico, with a CAGR of +54.8%, 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 2021, the average machine-tool for working metal export price amounted to $X per unit, picking up by 25% against the previous year. Overall, the export price, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2015 an increase of 114%. The export price peaked at $X per unit in 2019; however, from 2020 to 2021, the export prices remained at a lower figure.

There were significant differences in the average prices for the major export markets. In 2021, the country with the highest price was Botswana ($X per unit), while the average price for exports to Zambia ($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 Mozambique (+13.0%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Machine Tools For Working Metal

Imports into South Africa

In 2021, machine-tool for working metal imports into South Africa skyrocketed to X units, surging by 361% compared with 2020. Overall, imports, however, continue to indicate a relatively flat trend pattern. Imports peaked at X units in 2014; however, from 2015 to 2021, imports stood at a somewhat lower figure.

In value terms, machine-tool for working metal imports skyrocketed to $X in 2021. In general, imports recorded a tangible increase. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, China (X units) constituted the largest supplier of machine-tool for working metal to South Africa, accounting for a 62% share of total imports. Moreover, machine-tool for working metal imports from China exceeded the figures recorded by the second-largest supplier, South Korea (X units), fourfold. Spain (X units) ranked third in terms of total imports with an 8.3% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from China amounted to +12.1%. The remaining supplying countries recorded the following average annual rates of imports growth: South Korea (-1.9% per year) and Spain (+26.4% per year).

In value terms, China ($X) constituted the largest supplier of machine tools for working metal to South Africa, comprising 40% of total imports. The second position in the ranking was taken by South Korea ($X), with a 13% share of total imports. It was followed by Spain, with an 11% share.

From 2012 to 2021, the average annual rate of growth in terms of value from China totaled +17.4%. The remaining supplying countries recorded the following average annual rates of imports growth: South Korea (-0.3% per year) and Spain (+36.7% per year).

Import Prices by Country

The average machine-tool for working metal import price stood at $X per unit in 2021, which is down by -27.9% against the previous year. Over the period under review, the import price, however, saw a noticeable expansion. The most prominent rate of growth was recorded in 2017 when the average import price increased by 83%. The import price peaked at $X per unit in 2020, and then declined rapidly in the following year.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Germany (+25.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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