Kenya, as an African country, has deep economic and trade ties with China. At the 2020-2021 Social Responsibility Report of Chinese-funded Enterprises in Kenya held in December 2021, Kenyans highly praised Chinese enterprises for promoting economic growth, creating employment opportunities, accelerating He has made contributions to Kenya in terms of technology transfer, cultivating local talents, and improving local people's livelihood. He said that Kenya's economy is diversified and there are many investment opportunities. Kenya-China cooperation is mutually beneficial and win-win. China is welcome to increase direct investment in Kenya, especially in manufacturing, Agricultural products processing industry, infrastructure development and other fields.
The Kenya-China Economic and Trade Association is a civil society composed of Chinese-funded enterprises operating in Kenya and currently has 107 member enterprises. According to preliminary statistics, since 2020, its member companies have created more than 60,000 local jobs, and the localization rate of employees has exceeded 90%.
As a crane supplier in China, Dongqi has benefited a lot from the trade cooperation with Kenya. In the past 2021, we have more than 20 crane projects in Kenya. Despite the impact of the COVID-19 epidemic, we are optimistic about Kenya's economic development in 2022, so we need to get more information about the possible trends in the Kenyan crane market in 2022. This article discusses the market size and development direction of overhead cranes in Kenya in 2022 through the study of some historical data.
The Kenyan Overhead Crane Market grew X% to $X in 2020, rising for the third consecutive year after three consecutive years of decline. From 2007 to 2020, the market capitalization has grown at an average annual rate of +X%; the trend pattern indicates that some notable fluctuations were recorded throughout the analysis period. The most significant growth rate occurred in 2008, when the market value increased by X% year-on-year. Overhead crane consumption peaked at $X in 2014; however, from 2015 to 2020, consumption failed to regain momentum.
In terms of value, overhead crane production has risen rapidly in 2020 to an estimated $X at export prices. Overall, from 2007 to 2020, total production has grown significantly: its value has grown at an average annual rate of +X% over the past 13 years. However, the trend pattern indicated that some significant fluctuations were recorded throughout the analysis period. According to 2020 data, production has increased by +X% compared to the 2016 index. The growth rate was most pronounced in 2014, with production increasing by X% year-on-year. As a result, production reached a peak level of X dollars. Production growth remained low from 2015 to 2020.
In 2020, overseas shipments of fixed-support overhead cranes fell -X% to X units for the first time since 2015, ending a four-year upward trend. During the period under review, exports recorded a significant decline. The growth rate was most pronounced in 2016, with exports increasing by X% year-on-year. Exports peaked at X units in 2019 before shrinking significantly the following year. Overhead crane exports contracted to X USD in 2020 in value terms. Overall, exports decreased significantly. In 2014, the growth rate was the fastest, with exports increasing by X% year-on-year. As a result, exports peaked at X dollars. Export growth failed to regain momentum between 2015 and 2020.
Rwanda (X units) is the main destination for Kenyan bridge crane exports, accounting for X% of total exports. In addition, the number of overhead cranes exported to Rwanda was nine times the number (X units) exported to the second largest destination, Tanzania. From 2007 to 2020, the average annual growth rate of exports to Rwanda totaled +X%.
In value terms, Rwanda ($X) remains the leading foreign market for Kenyan bridge crane exports, accounting for X% of total exports. In second place is Tanzania ($X) with X% of total exports. From 2007 to 2020, the value to Rwanda has grown at an average annual rate of +X%.
In 2020, approximately X fixed-support overhead cranes were imported into Kenya; an increase of X% over the previous year. Overall, however, imports continued to show a clear downward trend. The most significant growth rate occurred in 2008, with an X% year-on-year increase. As a result, imports peaked at X units. From 2009 to 2020, import growth remained low.
Overhead crane imports surged to $X in 2020 by value. During the period under review, however, there was a significant increase in imports. The most significant growth rate occurred in 2008, when imports increased by X% year-on-year. As a result, imports peaked at X dollars. From 2009 to 2020, import growth remained low.
In 2020, Ấn độ (X units) was the largest supplier of overhead cranes in Kenya, accounting for X% of total imports. In addition, the number of overhead cranes imported from India is eight times higher than the number recorded by the second largest supplier, China (X units). Thổ nhĩ kỳ (X units) ranks third with X% of total imports.
From 2007 to 2020, the average annual growth rate of sales in India totaled +X%. The average annual growth rates of imports for the remaining suppliers are as follows: China (+X% per annum) and Turkey (+X% per annum).
By value, Kenya's largest suppliers of overhead cranes are India ($X), China ($X) and Turkey ($X), accounting for X% of total imports. Among the major suppliers, Turkey experienced the highest growth in import value during the review period, while other leaders saw more modest growth in purchases.
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