ECOWAS: Air Conditioning Machine Market 2024

Air Conditioning Machine Exports

Exports in ECOWAS

In 2022, overseas shipments of air conditioning machines increased by X% to X units, rising for the third year in a row after two years of decline. In general, exports continue to indicate a resilient expansion. The pace of growth was the most pronounced in 2020 when exports increased by X% against the previous year. The volume of export peaked in 2022 and is likely to see steady growth in the immediate term.

In value terms, air conditioning machine exports dropped slightly to $X in 2022. Over the period under review, exports recorded buoyant growth. The most prominent rate of growth was recorded in 2021 with an increase of X% against the previous year. As a result, the exports attained the peak of $X, and then shrank in the following year.

Exports by Country

Senegal was the key exporting country with an export of about X units, which reached X% of total exports. It was distantly followed by Cote d'Ivoire (X units), committing a X% share of total exports. The following exporters - Liberia (X units), Ghana (X units), Mali (X units), Nigeria (X units) and Burkina Faso (X units) - together made up X% of total exports.

Exports from Senegal increased at an average annual rate of X% from 2012 to 2022. At the same time, Burkina Faso (X%), Cote d'Ivoire (X%), Ghana (X%) and Mali (X%) displayed positive paces of growth. Moreover, Burkina Faso emerged as the fastest-growing exporter exported in ECOWAS, with a CAGR of X% from 2012-2022. By contrast, Nigeria (X%) and Liberia (X%) illustrated a downward trend over the same period. Cote d'Ivoire (X p.p.), Senegal (X p.p.) and Burkina Faso (X p.p.) significantly strengthened its position in terms of the total exports, while Nigeria and Liberia saw its share reduced by X% and X% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Senegal ($X) remains the largest air conditioning machine supplier in ECOWAS, comprising X% of total exports. The second position in the ranking was taken by Cote d'Ivoire ($X), with a X% share of total exports. It was followed by Burkina Faso, with a X% share.

In Senegal, air conditioning machine exports expanded at an average annual rate of X% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Cote d'Ivoire (X% per year) and Burkina Faso (X% per year).

Export Prices by Country

In 2022, the export price in ECOWAS amounted to $X per unit, waning by X% against the previous year. In general, the export price recorded a mild reduction. The most prominent rate of growth was recorded in 2018 an increase of X% against the previous year. The level of export peaked at $X per unit in 2021, and then shrank dramatically in the following year.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Burkina Faso ($X per unit), while Senegal ($X per unit) was amongst the lowest.

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

Air Conditioning Machine Imports

Imports in ECOWAS

In 2022, approx. X units of air conditioning machines were imported in ECOWAS; picking up by X% on 2021 figures. Overall, imports recorded prominent growth. The most prominent rate of growth was recorded in 2019 with an increase of X%. Over the period under review, imports attained the peak figure at X units in 2020; however, from 2021 to 2022, imports failed to regain momentum.

In value terms, air conditioning machine imports rose significantly to $X in 2022. Over the period under review, imports showed a strong increase. The most prominent rate of growth was recorded in 2019 when imports increased by X% against the previous year. Over the period under review, imports reached the maximum at $X in 2020; however, from 2021 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, Nigeria (X units) represented the largest importer of air conditioning machines, achieving X% of total imports. Ghana (X units) held a X% share (based on physical terms) of total imports, which put it in second place, followed by Guinea (X%). Cote d'Ivoire (X units), Benin (X units), Senegal (X units), Mali (X units), Niger (X units), Gambia (X units) and Liberia (X units) followed a long way behind the leaders.

From 2012 to 2022, average annual rates of growth with regard to air conditioning machine imports into Nigeria stood at X%. At the same time, Gambia (X%), Niger (X%), Guinea (X%), Mali (X%), Ghana (X%), Liberia (X%) and Senegal (X%) displayed positive paces of growth. Moreover, Gambia emerged as the fastest-growing importer imported in ECOWAS, with a CAGR of X% from 2012-2022. By contrast, Benin (X%) and Cote d'Ivoire (X%) illustrated a downward trend over the same period. Ghana (X p.p.), Guinea (X p.p.) and Gambia (X p.p.) significantly strengthened its position in terms of the total imports, while Benin, Cote d'Ivoire and Nigeria saw its share reduced by X%, X% and X% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Nigeria ($X) constitutes the largest market for imported air conditioning machines in ECOWAS, comprising X% of total imports. The second position in the ranking was taken by Ghana ($X), with a X% share of total imports. It was followed by Cote d'Ivoire, with a X% share.

In Nigeria, air conditioning machine imports increased at an average annual rate of X% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Ghana (X% per year) and Cote d'Ivoire (X% per year).

Import Prices by Country

In 2022, the import price in ECOWAS amounted to $X per unit, falling by X% against the previous year. Overall, the import price recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 an increase of X% against the previous year. Over the period under review, import prices hit record highs at $X per unit in 2015; however, from 2016 to 2022, import prices remained at a lower figure.

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

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

Source: IndexBox Platform