South Africa: Market for Machines For Balancing Mechanical Parts 2024

Market Size for Machines For Balancing Mechanical Parts in South Africa

In 2021, the South African balancing mechanical parts machine market increased by 0.4% to $X for the first time since 2018, thus ending a two-year declining trend. In general, consumption, however, posted a significant expansion. Over the period under review, the market reached the peak level at $X in 2016; however, from 2017 to 2021, consumption stood at a somewhat lower figure.

Production of Machines For Balancing Mechanical Parts in South Africa

In value terms, balancing mechanical parts machine production expanded notably to $X in 2021 estimated in export price. Overall, production posted a prominent increase. The growth pace was the most rapid in 2014 when the production volume increased by 432% against the previous year. Balancing mechanical parts machine production peaked at $X in 2015; however, from 2016 to 2021, production remained at a lower figure.

Exports of Machines For Balancing Mechanical Parts

Exports from South Africa

In 2021, the amount of machines for balancing mechanical parts exported from South Africa surged to X units, increasing by 58% against 2020 figures. Overall, exports, however, faced a abrupt downturn. The most prominent rate of growth was recorded in 2014 with an increase of 74%. The exports peaked at X units in 2015; however, from 2016 to 2021, the exports remained at a lower figure.

In value terms, balancing mechanical parts machine exports soared to $X in 2021. Over the period under review, exports, however, continue to indicate a perceptible slump. Over the period under review, the exports attained the peak figure at $X in 2015; however, from 2016 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Botswana (X units), the United States (X units) and Mozambique (X units) were the main destinations of balancing mechanical parts machine exports from South Africa, together accounting for 44% of total exports. These countries were followed by Namibia, Tanzania, Mauritius, Malawi, Kenya, Zimbabwe, Uganda, Swaziland and Germany, which together accounted for a further 51%.

From 2012 to 2021, the biggest increases were recorded for Mauritius (with a CAGR of +55.9%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for balancing mechanical parts machine exported from South Africa were Kenya ($X), the United States ($X) and Mauritius ($X), together comprising 46% of total exports.

Mauritius, with a CAGR of +76.7%, saw the highest rates of growth with regard to the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average balancing mechanical parts machine export price stood at $X per unit in 2021, rising by 3.8% against the previous year. Over the period under review, the export price saw a strong increase. The most prominent rate of growth was recorded in 2016 an increase of 152%. The export price peaked at $X per unit in 2019; however, from 2020 to 2021, the export prices failed to regain momentum.

There were significant differences in the average prices for the major foreign markets. In 2021, the country with the highest price was Kenya ($X per unit), while the average price for exports to Swaziland ($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 (+25.7%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Machines For Balancing Mechanical Parts

Imports into South Africa

Balancing mechanical parts machine imports into South Africa dropped remarkably to X units in 2021, falling by -15.4% compared with 2020. Over the period under review, imports recorded a abrupt shrinkage. The growth pace was the most rapid in 2013 when imports increased by 56% against the previous year. As a result, imports attained the peak of X units. From 2014 to 2021, the growth of imports failed to regain momentum.

In value terms, balancing mechanical parts machine imports soared to $X in 2021. Overall, imports saw a pronounced decrease. Imports peaked at $X in 2013; however, from 2014 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, China (X units) constituted the largest balancing mechanical parts machine supplier to South Africa, with a 48% share of total imports. Moreover, balancing mechanical parts machine imports from China exceeded the figures recorded by the second-largest supplier, Germany (X units), fourfold. Italy (X units) ranked third in terms of total imports with a 12% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from China was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+15.1% per year) and Italy (-17.8% per year).

In value terms, the largest balancing mechanical parts machine suppliers to South Africa were China ($X), Italy ($X) and Germany ($X), with a combined 70% share of total imports. The United States, Spain, Australia and Thailand lagged somewhat behind, together accounting for a further 23%.

Among the main suppliers, Spain, with a CAGR of +63.9%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced mixed trend patterns.

Import Prices by Country

In 2021, the average balancing mechanical parts machine import price amounted to $X per unit, with an increase of 83% against the previous year. Over the period under review, import price indicated tangible growth from 2012 to 2021: its price increased at an average annual rate of +4.5% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was Italy ($X per unit), while the price for Thailand ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Italy (+15.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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