ECOWAS: Market for Air Conditioning Machines For Motor Vehicles 2024

Market Size for Air Conditioning Machines For Motor Vehicles in ECOWAS

The ECOWAS market for air conditioning machines for motor vehicles declined slightly to $X in 2022, which is down by X% against the previous year. Over the period under review, consumption, however, continues to indicate prominent growth. The level of consumption peaked at $X in 2019; however, from 2020 to 2022, consumption failed to regain momentum.

Production of Air Conditioning Machines For Motor Vehicles in ECOWAS

In value terms, motor vehicle air conditioning machine production reduced slightly to $X in 2022 estimated in export price. In general, production, however, posted buoyant growth. The growth pace was the most rapid in 2017 when the production volume increased by X% against the previous year. Over the period under review, production attained the maximum level at $X in 2019; however, from 2020 to 2022, production failed to regain momentum.

Exports of Air Conditioning Machines For Motor Vehicles

Exports in ECOWAS

In 2022, overseas shipments of air conditioning machines for motor vehicles increased by X% to X units, rising for the second year in a row after two years of decline. In general, exports, however, saw a dramatic downturn. The growth pace was the most rapid in 2015 when exports increased by X% against the previous year. As a result, the exports reached the peak of X units. From 2016 to 2022, the growth of the exports remained at a lower figure.

In value terms, motor vehicle air conditioning machine exports contracted rapidly to $X in 2022. Overall, exports, however, saw a sharp shrinkage. The pace of growth was the most pronounced in 2014 with an increase of X% against the previous year. The level of export peaked at $X in 2021, and then shrank rapidly in the following year.

Exports by Country

Nigeria prevails in exports structure, reaching X units, which was near X% of total exports in 2022. It was distantly followed by Sierra Leone (X units), making up a X% share of total exports. Senegal (X units) followed a long way behind the leaders.

Nigeria experienced a relatively flat trend pattern with regard to volume of exports of air conditioning machines for motor vehicles. At the same time, Sierra Leone (X%) displayed positive paces of growth. Moreover, Sierra Leone emerged as the fastest-growing exporter exported in ECOWAS, with a CAGR of X% from 2012-2022. Senegal experienced a relatively flat trend pattern. Nigeria (X p.p.), Sierra Leone (X p.p.) and Senegal (X p.p.) significantly strengthened its position in terms of the total exports, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Nigeria ($X) emerged as the largest motor vehicle air conditioning machine supplier in ECOWAS, comprising X% of total exports. The second position in the ranking was held by Sierra Leone ($X), with a X% share of total exports.

In Nigeria, motor vehicle air conditioning machine exports contracted by an average annual rate of X% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Sierra Leone (X% per year) and Senegal (X% per year).

Export Prices by Country

The export price in ECOWAS stood at $X per unit in 2022, dropping by X% against the previous year. Over the period under review, the export price, however, continues to indicate a tangible increase. The most prominent rate of growth was recorded in 2016 when the export price increased by X%. Over the period under review, the export prices reached the peak figure at $X per unit in 2020; however, from 2021 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Senegal ($X per unit), while Sierra Leone ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Senegal (X%), while the other leaders experienced mixed trends in the export price figures.

Imports of Air Conditioning Machines For Motor Vehicles

Imports in ECOWAS

Motor vehicle air conditioning machine imports declined dramatically to X units in 2022, waning by X% compared with the year before. In general, imports recorded a noticeable shrinkage. The pace of growth appeared the most rapid in 2013 when imports increased by X%. The volume of import peaked at X units in 2015; however, from 2016 to 2022, imports failed to regain momentum.

In value terms, motor vehicle air conditioning machine imports contracted modestly to $X in 2022. Over the period under review, imports showed a pronounced curtailment. The pace of growth was the most pronounced in 2015 with an increase of X%. As a result, imports reached the peak of $X. From 2016 to 2022, the growth of imports failed to regain momentum.

Imports by Country

In 2022, Burkina Faso (X units), distantly followed by Niger (X units), Guinea (X units), Ghana (X units) and Cote d'Ivoire (X units) represented the largest importers of air conditioning machines for motor vehicles, together generating X% of total imports. The following importers - Nigeria (X units) and Senegal (X units) - each finished at a X% share of total imports.

From 2012 to 2022, the biggest increases were recorded for Guinea (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Cote d'Ivoire ($X), Burkina Faso ($X) and Nigeria ($X) were the countries with the highest levels of imports in 2022, together accounting for X% of total imports. Niger, Senegal, Ghana and Guinea lagged somewhat behind, together accounting for a further X%.

Among the main importing countries, Guinea, with a CAGR of X%, recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in ECOWAS stood at $X per unit in 2022, growing by X% against the previous year. In general, the import price saw a slight increase. The pace of growth appeared the most rapid in 2016 when the import price increased by X% against the previous year. As a result, import price attained the peak level of $X per unit. From 2017 to 2022, the import prices remained at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Nigeria ($X per unit), while Guinea ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Nigeria (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform