South Africa: Mounted Objective Lens Market 2024

Mounted Objective Lens Market Size in South Africa

In 2022, the South African mounted objective lens market increased by 42% to $X, rising for the second year in a row after five years of decline. In general, consumption, however, recorded a pronounced reduction. Over the period under review, the market reached the peak level at $X in 2013; however, from 2014 to 2022, consumption failed to regain momentum.

Mounted Objective Lens Exports

Exports from South Africa

In 2022, after three years of growth, there was significant decline in shipments abroad of mounted objective lenses, when their volume decreased by -59.9% to X units. In general, exports faced a abrupt decrease. The pace of growth was the most pronounced in 2021 with an increase of 284% against the previous year. The exports peaked at X units in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

In value terms, mounted objective lens exports skyrocketed to $X in 2022. Over the period under review, exports saw a slight reduction. The exports peaked at $X in 2013; however, from 2014 to 2022, the exports remained at a lower figure.

Exports by Country

Namibia (X units) was the main destination for mounted objective lens exports from South Africa, with a 0.5% share of total exports. Moreover, mounted objective lens exports to Namibia exceeded the volume sent to the second major destination, Botswana (X units), twofold. The third position in this ranking was held by Swaziland (X units), with a 0.1% share.

From 2012 to 2021, the average annual growth rate of volume to Namibia totaled +1.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Botswana (-2.0% per year) and Swaziland (-10.8% per year).

In value terms, the largest markets for mounted objective lens exported from South Africa were Namibia ($X), the UK ($X) and Botswana ($X), with a combined 34% share of total exports.

In terms of the main countries of destination, the UK, with a CAGR of +40.4%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced a decline.

Export Prices by Country

The average mounted objective lens export price stood at $X per unit in 2021, dropping by -73.7% against the previous year. In general, the export price showed a pronounced slump. The pace of growth was the most pronounced in 2016 when the average export price increased by 226% against the previous year. The export price peaked at $X per unit in 2018; however, from 2019 to 2021, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major external markets. In 2021, amid the top suppliers, the country with the highest price was the UK ($X per unit), while the average price for exports to Lesotho ($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 Zimbabwe (-2.8%), while the prices for the other major destinations experienced a decline.

Mounted Objective Lens Imports

Imports into South Africa

In 2022, purchases abroad of mounted objective lenses increased by 17% to X units, rising for the second consecutive year after five years of decline. Over the period under review, imports, however, recorded a abrupt decrease. The most prominent rate of growth was recorded in 2021 when imports increased by 18%. Over the period under review, imports reached the maximum at X units in 2013; however, from 2014 to 2022, imports remained at a lower figure.

In value terms, mounted objective lens imports soared to $X in 2022. In general, imports, however, saw a pronounced shrinkage. The pace of growth was the most pronounced in 2021 with an increase of 55%. Over the period under review, imports reached the maximum at $X in 2013; however, from 2014 to 2022, imports stood at a somewhat lower figure.

Imports by Country

Japan (X units), China (X units) and the United Arab Emirates (X units) were the main suppliers of mounted objective lens imports to South Africa, with a combined 4.1% share of total imports. Malaysia, Thailand, Taiwan (Chinese) and the United States lagged somewhat behind, together accounting for a further 1.2%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by the United States (with a CAGR of -10.1%), while imports for the other leaders experienced a decline.

In value terms, the largest mounted objective lens suppliers to South Africa were Japan ($X), the United Arab Emirates ($X) and China ($X), with a combined 16% share of total imports. Thailand, the United States, Malaysia and Taiwan (Chinese) lagged somewhat behind, together accounting for a further 5.2%.

The United States, with a CAGR of -11.1%, saw the highest rates of growth with regard to the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced a decline.

Import Prices by Country

The average mounted objective lens import price stood at $X per unit in 2021, jumping by 31% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +3.2%. Over the period under review, average import prices attained the peak figure at $X per unit in 2019; however, from 2020 to 2021, import prices remained at a lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Thailand (+5.5%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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