Africa: Lifting Equipment Market 2024

Lifting Equipment Market Size in Africa

The African lifting equipment market rose remarkably to $X in 2023, increasing by X% against the previous year. Over the period under review, consumption saw a relatively flat trend pattern. As a result, consumption attained the peak level of $X; afterwards, it flattened through to 2023.

Lifting Equipment Production in Africa

In value terms, lifting equipment production expanded remarkably to $X in 2023 estimated in export price. Overall, production continues to indicate mild growth. The pace of growth appeared the most rapid in 2021 when the production volume increased by X% against the previous year. As a result, production reached the peak level of $X; afterwards, it flattened through to 2023.

Lifting Equipment Exports

Exports in Africa

After two years of growth, shipments abroad of lifting equipment decreased by X% to X units in 2023. Overall, exports, however, recorded measured growth. The pace of growth appeared the most rapid in 2014 when exports increased by X% against the previous year. As a result, the exports reached the peak of X units. From 2015 to 2023, the growth of the exports failed to regain momentum.

In value terms, lifting equipment exports declined dramatically to $X in 2023. In general, exports saw a noticeable setback. The pace of growth was the most pronounced in 2021 when exports increased by X%. The level of export peaked at $X in 2017; however, from 2018 to 2023, the exports remained at a lower figure.

Exports by Country

Gabon prevails in exports structure, finishing at X units, which was approx. X% of total exports in 2023. South Africa (X units) held the second position in the ranking, followed by Morocco (X units) and Senegal (X units). All these countries together took near X% share of total exports. Tunisia (X units) and Namibia (X units) followed a long way behind the leaders.

Gabon was also the fastest-growing in terms of the lifting equipment exports, with a CAGR of X% from 2012 to 2023. At the same time, Senegal (X%), Morocco (X%) and Namibia (X%) displayed positive paces of growth. By contrast, Tunisia (X%) and South Africa (X%) illustrated a downward trend over the same period. While the share of Gabon (X p.p.), Morocco (X p.p.) and Senegal (X p.p.) increased significantly in terms of the total exports from 2012-2023, the share of Tunisia (X p.p.) and South Africa (X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, South Africa ($X), Senegal ($X) and Gabon ($X) were the countries with the highest levels of exports in 2023, with a combined X% share of total exports.

Gabon, with a CAGR of X%, recorded the highest growth rate of the value of exports, in terms of the main exporting countries over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The export price in Africa stood at $X per unit in 2023, growing by X% against the previous year. Over the period under review, the export price, however, showed a abrupt setback. The most prominent rate of growth was recorded in 2015 when the export price increased by X%. The level of export peaked at $X per unit in 2012; however, from 2013 to 2023, the export prices remained at a lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2023, amid the top suppliers, the country with the highest price was South Africa ($X per unit), while Gabon ($X per unit) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Tunisia (X%), while the other leaders experienced more modest paces of growth.

Lifting Equipment Imports

Imports in Africa

In 2023, the amount of lifting equipment imported in Africa surged to X units, with an increase of X% on 2022. Over the period under review, imports showed a remarkable increase. The most prominent rate of growth was recorded in 2016 with an increase of X% against the previous year. The volume of import peaked in 2023 and is likely to continue growth in years to come.

In value terms, lifting equipment imports skyrocketed to $X in 2023. Overall, imports saw a strong increase. The pace of growth appeared the most rapid in 2016 when imports increased by X%. Over the period under review, imports reached the maximum in 2023 and are expected to retain growth in the immediate term.

Imports by Country

Botswana (X units) and Ghana (X units) represented the largest importers of lifting equipment in 2023, reaching near X% and X% of total imports, respectively. South Africa (X units) took a X% share (based on physical terms) of total imports, which put it in second place, followed by Mozambique (X%). The following importers - Kenya (X units), Algeria (X units) and Democratic Republic of the Congo (X units) - together made up X% of total imports.

From 2012 to 2023, the biggest increases were recorded for Botswana (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Ghana ($X) constitutes the largest market for imported lifting equipment in Africa, comprising X% of total imports. The second position in the ranking was held by Kenya ($X), with a X% share of total imports. It was followed by Algeria, with a X% share.

From 2012 to 2023, the average annual growth rate of value in Ghana totaled X%. In the other countries, the average annual rates were as follows: Kenya (X% per year) and Algeria (X% per year).

Import Prices by Country

In 2023, the import price in Africa amounted to $X per unit, surging by X% against the previous year. Over the period under review, the import price, however, saw a noticeable contraction. The pace of growth appeared the most rapid in 2021 when the import price increased by X%. The level of import peaked at $X per unit in 2019; however, from 2020 to 2023, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2023, amid the top importers, the country with the highest price was Ghana ($X per unit), while Botswana ($X per unit) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Kenya (X%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform