Tanzania: Market for Grinding And Sharpening Metal Finishing Machines 2024

Market Size for Grinding And Sharpening Metal Finishing Machines in Tanzania

The Tanzanian grinding and sharpening machine market amounted to $X in 2022, standing approx. at the previous year. Overall, consumption recorded a resilient expansion. Over the period under review, the market attained the peak level at $X in 2020; however, from 2021 to 2022, consumption remained at a lower figure.

Production of Grinding And Sharpening Metal Finishing Machines in Tanzania

In value terms, grinding and sharpening machine production reduced modestly to $X in 2022 estimated in export price. In general, production enjoyed a strong expansion. The pace of growth appeared the most rapid in 2018 with an increase of 95% against the previous year. As a result, production attained the peak level of $X. From 2019 to 2022, production growth remained at a lower figure.

Exports of Grinding And Sharpening Metal Finishing Machines

Exports from Tanzania

After two years of growth, shipments abroad of grinding and sharpening metal finishing machines decreased by -61.9% to X units in 2022. Overall, exports, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 when exports increased by 145% against the previous year. Over the period under review, the exports hit record highs at X units in 2021, and then contracted significantly in the following year.

In value terms, grinding and sharpening machine exports shrank remarkably to $X in 2022. Over the period under review, exports showed a abrupt decline. The pace of growth was the most pronounced in 2015 when exports increased by 239%. As a result, the exports attained the peak of $X. From 2016 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

Kenya (X units) was the main destination for grinding and sharpening machine exports from Tanzania, accounting for a 76% share of total exports. Moreover, grinding and sharpening machine exports to Kenya exceeded the volume sent to the second major destination, South Africa (X units), sixfold. The third position in this ranking was taken by Uganda (X units), with a 2.7% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Kenya totaled +30.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: South Africa (-10.4% per year) and Uganda (-10.4% per year).

In value terms, Kenya ($X) emerged as the key foreign market for grinding and sharpening metal finishing machines exports from Tanzania, comprising 64% of total exports. The second position in the ranking was taken by Uganda ($X), with a 24% share of total exports. It was followed by South Africa, with an 8.8% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Kenya amounted to +63.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Uganda (+13.4% per year) and South Africa (-23.7% per year).

Export Prices by Country

In 2022, the average grinding and sharpening machine export price amounted to $X per unit, dropping by -6.5% against the previous year. In general, the export price continues to indicate a abrupt downturn. The pace of growth was the most pronounced in 2015 when the average export price increased by 255%. As a result, the export price attained the peak level of $X per unit. From 2016 to 2022, the average export prices remained at a somewhat lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Belgium (+367.2%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Grinding And Sharpening Metal Finishing Machines

Imports into Tanzania

In 2022, purchases abroad of grinding and sharpening metal finishing machines decreased by -41.7% to X units for the first time since 2019, thus ending a two-year rising trend. Overall, imports, however, showed a pronounced expansion. The most prominent rate of growth was recorded in 2021 when imports increased by 105%. As a result, imports attained the peak of X units, and then fell rapidly in the following year.

In value terms, grinding and sharpening machine imports shrank markedly to $X in 2022. Over the period under review, imports, however, posted a strong expansion. The most prominent rate of growth was recorded in 2021 when imports increased by 228%. As a result, imports attained the peak of $X, and then fell rapidly in the following year.

Imports by Country

In 2022, China (X units) constituted the largest grinding and sharpening machine supplier to Tanzania, accounting for a 64% share of total imports. Moreover, grinding and sharpening machine imports from China exceeded the figures recorded by the second-largest supplier, Germany (X units), fourfold. The third position in this ranking was taken by Sweden (X units), with a 5.9% share.

From 2012 to 2022, the average annual growth rate of volume from China amounted to +22.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (-2.7% per year) and Sweden (+18.9% per year).

In value terms, the largest grinding and sharpening machine suppliers to Tanzania were China ($X), Sweden ($X) and India ($X), together accounting for 84% of total imports.

Sweden, with a CAGR of +30.3%, saw the highest growth rate of the value of imports, among 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 grinding and sharpening machine import price amounted to $X per unit, rising by 38% against the previous year. Overall, import price indicated a temperate expansion from 2012 to 2022: its price increased at an average annual rate of +3.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, grinding and sharpening machine import price increased by +120.1% against 2020 indices. The most prominent rate of growth was recorded in 2021 when the average import price increased by 60%. The import price peaked in 2022 and is expected to retain growth in the immediate term.

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 India ($X per unit), while the price for the United Arab Emirates ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by India (+26.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform