Tanzania: Cranks And Crankshafts Market 2024

Cranks And Crankshafts Market Size in Tanzania

In 2022, the Tanzanian cranks and crankshafts market increased by 54% to $X, rising for the second year in a row after two years of decline. Overall, consumption, however, showed a relatively flat trend pattern. Cranks and crankshafts consumption peaked at $X in 2012; however, from 2013 to 2022, consumption remained at a lower figure.

Cranks And Crankshafts Exports

Exports from Tanzania

In 2022, after three years of growth, there was significant decline in overseas shipments of cranks and crankshafts, when their volume decreased by -48.5% to X tons. Over the period under review, exports, however, showed resilient growth. The pace of growth was the most pronounced in 2013 when exports increased by 355%. The exports peaked at X tons in 2017; however, from 2018 to 2022, the exports remained at a lower figure.

In value terms, cranks and crankshafts exports fell significantly to $X in 2022. Overall, exports, however, enjoyed a strong expansion. The pace of growth was the most pronounced in 2013 when exports increased by 637%. Over the period under review, the exports attained the maximum at $X in 2016; however, from 2017 to 2022, the exports failed to regain momentum.

Exports by Country

Democratic Republic of the Congo (X tons), Zambia (X kg) and Hong Kong SAR (X kg) were the main destinations of cranks and crankshafts exports from Tanzania, with a combined 57% share of total exports. South Africa, Belgium, the United States, the Netherlands and Ghana lagged somewhat behind, together comprising a further 37%.

From 2012 to 2022, the biggest increases were recorded for the United States (with a CAGR of +125.0%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for cranks and crankshafts exported from Tanzania were the Netherlands ($X), South Africa ($X) and Democratic Republic of the Congo ($X), together accounting for 65% of total exports.

In terms of the main countries of destination, the Netherlands, with a CAGR of +80.2%, 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 2022, the average cranks and crankshafts export price amounted to $X per ton, growing by 4.2% against the previous year. Over the period under review, the export price enjoyed prominent growth. The growth pace was the most rapid in 2018 when the average export price increased by 157% against the previous year. The export price peaked at $X per ton in 2016; however, from 2017 to 2022, 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 the Netherlands ($X per ton), while the average price for exports to Hong Kong SAR ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the Netherlands (+24.8%), while the prices for the other major destinations experienced more modest paces of growth.

Cranks And Crankshafts Imports

Imports into Tanzania

In 2022, overseas purchases of cranks and crankshafts increased by 33% to X tons, rising for the second year in a row after two years of decline. Over the period under review, total imports indicated temperate growth from 2012 to 2022: its volume increased at an average annual rate of +4.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +52.0% against 2020 indices. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, cranks and crankshafts imports skyrocketed to $X in 2022. Overall, imports, however, showed a relatively flat trend pattern. Imports peaked at $X in 2012; however, from 2013 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, China (X tons) constituted the largest cranks and crankshafts supplier to Tanzania, accounting for a 69% share of total imports. Moreover, cranks and crankshafts imports from China exceeded the figures recorded by the second-largest supplier, India (X tons), eightfold. The third position in this ranking was taken by South Africa (X tons), with a 6% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China amounted to +8.7%. The remaining supplying countries recorded the following average annual rates of imports growth: India (-2.4% per year) and South Africa (-4.8% per year).

In value terms, the largest cranks and crankshafts suppliers to Tanzania were China ($X), South Africa ($X) and India ($X), together comprising 52% of total imports. Italy, Turkey and the UK lagged somewhat behind, together accounting for a further 8.5%.

Turkey, with a CAGR of +22.7%, saw the highest growth rate of the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average cranks and crankshafts import price amounted to $X per ton, increasing by 20% against the previous year. Over the period under review, the import price, however, saw a noticeable reduction. Over the period under review, average import prices reached the peak figure at $X per ton in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

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 Italy ($X per ton), while the price for the UK ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+7.4%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform