South Africa: Market for Machines For Balancing Mechanical Parts 2024

Market Size for Machines For Balancing Mechanical Parts in South Africa

The South African balancing mechanical parts machine market reduced modestly to $X.8B in 2022, falling by X% against the previous year. Over the period under review, the total consumption indicated strong growth from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by X% against 2020 indices. Over the period under review, the market attained the peak level at $X.8B in 2018; however, from 2019 to 2022, consumption stood at a somewhat lower figure.

Production of Machines For Balancing Mechanical Parts in South Africa

In value terms, balancing mechanical parts machine production declined modestly to $X.7B in 2022 estimated in export price. Over the period under review, the total production indicated a resilient increase from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production increased by X% against 2020 indices. The growth pace was the most rapid in 2014 when the production volume increased by X% against the previous year. Over the period under review, production reached the peak level at $X.9B in 2018; however, from 2019 to 2022, production stood at a somewhat lower figure.

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Exports of Machines For Balancing Mechanical Parts

Exports from South Africa

In 2022, shipments abroad of machines for balancing mechanical parts increased by X% to X units, rising for the second year in a row after three years of decline. In general, exports, however, recorded a mild reduction. The growth pace was 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 2022, the growth of the exports failed to regain momentum.

In value terms, balancing mechanical parts machine exports soared to $X in 2022. Overall, exports continue to indicate a measured expansion. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

Botswana (X units) was the main destination for balancing mechanical parts machine exports from South Africa, accounting for a X% share of total exports. Moreover, balancing mechanical parts machine exports to Botswana exceeded the volume sent to the second major destination, Mozambique (X units), twofold. The third position in this ranking was held by Kenya (X units), with a X% share.

From 2012 to 2022, the average annual growth rate of volume to Botswana totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Mozambique (X% per year) and Kenya (X% per year).

In value terms, the largest markets for balancing mechanical parts machine exported from South Africa were Kenya ($X), Botswana ($X) and Mozambique ($X), together accounting for X% of total exports. Zimbabwe, Swaziland, Democratic Republic of the Congo, Tanzania, Namibia, Canada, Zambia, Germany, Lesotho and the United States lagged somewhat behind, together comprising a further X%.

Among the main countries of destination, Swaziland, with a CAGR of X%, 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

The average balancing mechanical parts machine export price stood at $X per unit in 2022, rising by X% against the previous year. Overall, the export price enjoyed a remarkable increase. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Kenya ($X per unit), while the average price for exports to the United States ($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 Botswana (X%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Machines For Balancing Mechanical Parts

Imports into South Africa

In 2022, supplies from abroad of machines for balancing mechanical parts decreased by X% to X units for the first time since 2016, thus ending a five-year rising trend. Over the period under review, imports, however, enjoyed a resilient increase. The growth pace was the most rapid in 2021 when imports increased by X% against the previous year. As a result, imports attained the peak of X units, and then fell markedly in the following year.

In value terms, balancing mechanical parts machine imports dropped rapidly to $X in 2022. Overall, imports saw a perceptible decrease. The pace of growth was the most pronounced in 2021 when imports increased by X%. Imports peaked at $X in 2013; however, from 2014 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, China (X units) constituted the largest supplier of balancing mechanical parts machine to South Africa, accounting for a X% share of total imports. Moreover, balancing mechanical parts machine imports from China exceeded the figures recorded by the second-largest supplier, Japan (X units), more than tenfold. The United States (X units) ranked third in terms of total imports with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (X% per year) and the United States (X% per year).

In value terms, the largest balancing mechanical parts machine suppliers to South Africa were the United States ($X), China ($X) and Italy ($X), together comprising X% of total imports. These countries were followed by Japan, which accounted for a further X%.

Japan, with a CAGR of X%, recorded 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

In 2022, the average balancing mechanical parts machine import price amounted to $X per unit, remaining constant against the previous year. In general, the import price, however, continues to indicate a abrupt decrease. The growth pace was the most rapid in 2015 an increase of X% against the previous year. The import price peaked at $X per unit in 2012; however, from 2013 to 2022, 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 the United States ($X per unit), while the price for China ($X per unit) was amongst the lowest.

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

Source: IndexBox Platform

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