South Africa: Working Wire Machine Market 2022

Working Wire Machine Market Size in South Africa

The South African working wire machine market skyrocketed to $X in 2021, surging by 15% against the previous year. In general, consumption continues to indicate significant growth. As a result, consumption reached the peak level of $X. From 2017 to 2021, the growth of the market remained at a somewhat lower figure.

Working Wire Machine Production in South Africa

In value terms, working wire machine production fell remarkably to $X in 2021 estimated in export price. Overall, production showed measured growth. The pace of growth was the most pronounced in 2013 with an increase of 61%. As a result, production attained the peak level of $X. From 2014 to 2021, production growth failed to regain momentum.

Working Wire Machine Exports

Exports from South Africa

In 2021, overseas shipments of machines for working wire increased by 70% to X units, rising for the fourth consecutive year after four years of decline. In general, exports continue to indicate notable growth. The pace of growth was the most pronounced in 2020 when exports increased by 81% against the previous year. Over the period under review, the exports hit record highs at X units in 2013; however, from 2014 to 2021, the exports remained at a lower figure.

In value terms, working wire machine exports fell to $X in 2021. Overall, exports, however, showed a noticeable shrinkage. The pace of growth appeared the most rapid in 2017 with an increase of 64%. The exports peaked at $X in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

Exports by Country

Zimbabwe (X units), Senegal (X units) and Mali (X units) were the main destinations of working wire machine exports from South Africa, with a combined 89% share of total exports. These countries were followed by Malawi, Swaziland and Botswana, which together accounted for a further 11%.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Malawi (with a CAGR of +133.4%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for working wire machine exported from South Africa were Senegal ($X), Zimbabwe ($X) and Malawi ($X), together comprising 94% of total exports. Swaziland, Botswana and Mali lagged somewhat behind, together accounting for a further 5.9%.

Among the main countries of destination, Swaziland, with a CAGR of +106.0%, recorded the highest growth rate of 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 working wire machine export price amounted to $X per unit, which is down by -44.7% against the previous year. Overall, the export price continues to indicate a deep contraction. The pace of growth appeared the most rapid in 2017 an increase of 104% against the previous year. As a result, the export price attained the peak level of $X per unit. From 2018 to 2021, the the average export prices remained at a lower figure.

There were significant differences in the average prices for the major foreign markets. In 2021, the country with the highest price was Senegal ($X per unit), while the average price for exports to Mali ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to South Korea (+38.4%), while the prices for the other major destinations experienced more modest paces of growth.

Working Wire Machine Imports

Imports into South Africa

In 2021, overseas purchases of machines for working wire increased by 91% to X units, rising for the third consecutive year after two years of decline. In general, imports, however, showed a perceptible descent. Over the period under review, imports hit record highs at X units in 2014; however, from 2015 to 2021, imports failed to regain momentum.

In value terms, working wire machine imports soared to $X in 2021. Overall, imports saw moderate growth. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, China (X units) constituted the largest supplier of working wire machine to South Africa, accounting for a 75% share of total imports. Moreover, working wire machine imports from China exceeded the figures recorded by the second-largest supplier, the United States (X units), tenfold. The third position in this ranking was taken by Turkey (X units), with a 6.2% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from China stood at +17.7%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (-17.5% per year) and Turkey (+29.7% per year).

In value terms, China ($X) constituted the largest supplier of working wire machine to South Africa, comprising 63% of total imports. The second position in the ranking was held by Japan ($X), with a 12% share of total imports. It was followed by the United States, with a 6.2% share.

From 2012 to 2021, the average annual growth rate of value from China stood at +18.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (+3.5% per year) and the United States (-14.8% per year).

Import Prices by Country

The average working wire machine import price stood at $X per unit in 2021, picking up by 11% against the previous year. Over the period under review, the import price showed strong growth. The pace of growth was the most pronounced in 2018 when the average import price increased by 45% against the previous year. As a result, import price reached the peak level of $X per unit. From 2019 to 2021, the average import prices remained at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was Italy ($X per unit), while the price for Turkey ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by France (+51.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform

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