South Africa: Lock And Key Market 2025

Lock And Key Market Size in South Africa

The South African lock and key market skyrocketed to $X in 2021, growing by 48% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). The market value increased at an average annual rate of +5.0% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Lock And Key Exports

Exports from South Africa

In 2021, shipments abroad of padlocks, locks and keys of base metal was finally on the rise to reach X tons for the first time since 2018, thus ending a two-year declining trend. Over the period under review, exports, however, showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2017 with an increase of 24% against the previous year. The exports peaked at X tons in 2018; however, from 2019 to 2021, the exports remained at a lower figure.

In value terms, lock and key exports surged to $X in 2021. Overall, exports, however, recorded a relatively flat trend pattern. Over the period under review, the exports attained the peak figure at $X in 2013; however, from 2014 to 2021, the exports failed to regain momentum.

Exports by Country

Namibia (X tons), Botswana (X tons) and Zimbabwe (X tons) were the main destinations of lock and key exports from South Africa, with a combined 51% share of total exports. These countries were followed by Lesotho, Swaziland, Germany, Zambia, Belgium, Mozambique and Argentina, which together accounted for a further 39%.

From 2012 to 2021, the biggest increases were recorded for Germany (with a CAGR of +25.6%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for lock and key exported from South Africa were Namibia ($X), Botswana ($X) and Zimbabwe ($X), together comprising 46% of total exports. These countries were followed by Germany, Zambia, Swaziland, Mozambique, Lesotho, Belgium and Argentina, which together accounted for a further 32%.

In terms of the main countries of destination, Germany, with a CAGR of +19.7%, saw the highest rates of growth with regard to 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 lock and key export price amounted to $X per ton, with an increase of 17% against the previous year. Over the period under review, the export price showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 an increase of 17% against the previous year. Over the period under review, the average export prices hit record highs at $X per ton in 2014; however, from 2015 to 2021, the export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Mozambique ($X per ton), while the average price for exports to Lesotho ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Mozambique (+2.5%), while the prices for the other major destinations experienced more modest paces of growth.

Lock And Key Imports

Imports into South Africa

In 2021, after two years of decline, there was significant growth in supplies from abroad of padlocks, locks and keys of base metal, when their volume increased by 27% to X tons. The total import volume increased at an average annual rate of +5.1% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, lock and key imports soared to $X in 2021. The total import value increased at an average annual rate of +2.4% over the period from 2012 to 2021; however, the trend pattern remained relatively stable, with somewhat noticeable fluctuations throughout the analyzed period. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, China (X tons) constituted the largest supplier of lock and key to South Africa, with a 72% share of total imports. Moreover, lock and key imports from China exceeded the figures recorded by the second-largest supplier, India (X tons), sixfold. The third position in this ranking was held by Germany (X tons), with a 3.7% share.

From 2012 to 2021, the average annual growth rate of volume from China totaled +5.9%. The remaining supplying countries recorded the following average annual rates of imports growth: India (+7.5% per year) and Germany (+0.7% per year).

In value terms, China ($X) constituted the largest supplier of padlocks, locks and keys of base metal to South Africa, comprising 54% of total imports. The second position in the ranking was taken by Germany ($X), with a 9.2% share of total imports. It was followed by India, with an 8.7% share.

From 2012 to 2021, the average annual rate of growth in terms of value from China stood at +3.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (-0.8% per year) and India (+6.7% per year).

Import Prices by Country

The average lock and key import price stood at $X per ton in 2021, with an increase of 15% against the previous year. In general, the import price, however, showed a perceptible setback. The import price peaked at $X per ton in 2012; however, from 2013 to 2021, import prices stood at a somewhat lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (+2.6%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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