The Kenyan lifting equipment market has finally risen to $X in 2021 after two years of decline. Overall, from 2012 to 2021, total consumption showed moderate growth: its value increased at an average annual rate of +X% over the past nine years. However, the trend pattern indicated that some significant fluctuations were recorded throughout the analysis period. According to 2021 data, consumption is down -X% compared to the 2016 index. As a result, consumption reaches a peak level of X dollars. From 2017 to 2021, the market growth rate will remain at a low level.
In value terms, hoisting equipment production rose significantly to $X in 2021 (estimated at export prices). During the period under review, production showed a relatively stable trend pattern. The most significant growth rate occurred in 2016, which was an X% increase compared to the previous year. As a result, production peaked at X dollars. From 2017 to 2021, production growth will remain at a low level.
In 2021, after three years of growth, overseas shipments of lifting equipment dropped significantly, with the number dropping -X% to X units. Overall, exports continued to show a sharp decline. 2014 saw the fastest growth, with exports increasing by X% over the previous year. As a result, exports peaked at X units. Export growth failed to regain momentum between 2015 and 2021.
Lifting equipment exports shrink to $X in 2021 in value terms. Overall, exports have fallen significantly. The fastest growth in 2016 was X%. During the period under review, exports peaked at $X in 2012; however, from 2013 to 2021, exports were at lower levels.
Mozambique (unit X) and Uganda (unit X) are the main destinations for Kenyan hoisting equipment exports. From 2012 to 2021, the largest increase is in Uganda (CAGR +X value, Mozambique ($X) remains the main foreign market for Kenyan lifting equipment exports, accounting for X% of total exports. In Uganda ($X) X) Ranked No. 1 with X% of total exports.
From 2012 to 2021, the average annual growth in value to Mozambique totals +X%.
In 2021, Kenya's hoisting equipment imports surged to X units, an increase of X% over the 2020 figure. During the period under review, imports showed significant growth. The most significant growth rate occurred in 2018, when imports increased by X% over the previous year. Imports hit an all-time high in 2021 during the review period and are expected to keep growing for years to come.
Lifting equipment imports surge to $X by value in 2021. Overall, import growth was strong. The fastest growth was recorded in 2018, with imports increasing by X% year-on-year. During the period under review, imports peaked in 2021 and are expected to keep growing for the next few years.
In 2021, Italy (X units) is Kenya's largest supplier of lifting equipment, accounting for X% of total imports. In addition, the import of lifting equipment from Italy was five times higher than the number recorded by the second largest supplier, China (X units).
From 2012 to 2021, the average annual growth rate of sales in Italy is +X%. The average annual growth rates of imports for the remaining suppliers are as follows: China (+X% per annum) and Turkey (+X% per annum).
Italy ($X), China ($X) and Turkey ($X) are Kenya's largest lifting equipment suppliers by value, accounting for X% of total imports. Turkey, with a CAGR of +X%, saw the highest growth in import value among the major suppliers during the period under review, while other leaders saw more modest growth in purchases.
By value, Kenya's largest suppliers of lifting equipment are Italy, China and Turkey, which together account for 98% of total imports.
In value terms, Mozambique remains the main foreign market for Kenyan lifting equipment exports, accounting for 96% of total exports. In second place is Uganda, which accounted for 4.4% of total exports.
The average export price of hoisting equipment in 2021 is US$2,679 per unit, a year-on-year increase of 19%.
The average import price of hoisting equipment in 2021 is US$2,988/unit, a year-on-year decrease of -25.8%.
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