ECOWAS - Boring or Sinking Machinery - Market Analysis, Forecast, Size, Trends and Insights
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Boring Machinery Market Size in ECOWAS
The ECOWAS boring machinery market dropped modestly to $X in 2022, almost unchanged from the previous year. Overall, consumption, however, saw a remarkable increase. As a result, consumption attained the peak level of $X.8B. From 2020 to 2022, the growth of the market failed to regain momentum.
Boring Machinery Production in ECOWAS
In value terms, boring machinery production reduced to $X.4B in 2022 estimated in export price. Over the period under review, production, however, showed a buoyant expansion. The most prominent rate of growth was recorded in 2019 with an increase of X% against the previous year. As a result, production reached the peak level of $X.8B. From 2020 to 2022, production growth remained at a lower figure.
Boring Machinery Exports
Exports in ECOWAS
In 2022, shipments abroad of boring or sinking machinery 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 mild contraction. The growth pace was the most rapid in 2014 when exports increased by X% against the previous year. As a result, the exports attained the peak of X units. From 2015 to 2022, the growth of the exports remained at a lower figure.
In value terms, boring machinery exports contracted rapidly to $X in 2022. Overall, exports, however, recorded a perceptible decline. The most prominent rate of growth was recorded in 2014 when exports increased by X%. As a result, the exports attained the peak of $X. From 2015 to 2022, the growth of the exports remained at a somewhat lower figure.
Exports by Country
Burkina Faso was the major exporter of boring or sinking machinery in ECOWAS, with the volume of exports accounting for X units, which was near X% of total exports in 2022. Ghana (X units) held a X% share (based on physical terms) of total exports, which put it in second place, followed by Cote d'Ivoire (X%), Mali (X%) and Niger (X%). Nigeria (X units) and Guinea (X units) followed a long way behind the leaders.
Burkina Faso was also the fastest-growing in terms of the boring or sinking machinery exports, with a CAGR of X% from 2012 to 2022. At the same time, Guinea (X%), Mali (X%) and Cote d'Ivoire (X%) displayed positive paces of growth. By contrast, Ghana (X%), Nigeria (X%) and Niger (X%) illustrated a downward trend over the same period. While the share of Burkina Faso (X p.p.), Cote d'Ivoire (X p.p.), Mali (X p.p.) and Guinea (X p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Ghana (X p.p.), Nigeria (X p.p.) and Niger (X p.p.) displayed negative dynamics.
In value terms, Burkina Faso ($X), Cote d'Ivoire ($X) and Ghana ($X) constituted the countries with the highest levels of exports in 2022, together comprising X% of total exports. Mali, Nigeria, Guinea and Niger lagged somewhat behind, together comprising a further X%.
Guinea, with a CAGR of X%, saw the highest growth rate of the value of exports, in terms of the main exporting countries over the period under review, while shipments for the other leaders experienced more modest paces of growth.
Export Prices by Country
In 2022, the export price in ECOWAS amounted to $X per unit, with a decrease of X% against the previous year. Over the period under review, the export price saw a perceptible reduction. The growth pace was the most rapid in 2015 an increase of X% against the previous year. Over the period under review, the export prices attained the maximum at $X per unit in 2019; however, from 2020 to 2022, the export prices remained at a lower figure.
Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Nigeria ($X per unit), while Niger ($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.
Boring Machinery Imports
Imports in ECOWAS
In 2022, after two years of decline, there was significant growth in overseas purchases of boring or sinking machinery, when their volume increased by X% to X units. In general, imports, however, recorded a slight contraction. The most prominent rate of growth was recorded in 2019 with an increase of X%. As a result, imports reached the peak of X units. From 2020 to 2022, the growth of imports remained at a lower figure.
In value terms, boring machinery imports fell rapidly to $X in 2022. Overall, imports, however, recorded a drastic downturn. The most prominent rate of growth was recorded in 2019 when imports increased by X%. As a result, imports attained the peak of $X. From 2020 to 2022, the growth of imports remained at a lower figure.
Imports by Country
Nigeria was the largest importer of boring or sinking machinery in ECOWAS, with the volume of imports amounting to X units, which was approx. X% of total imports in 2022. Senegal (X units) held the second position in the ranking, distantly followed by Burkina Faso (X units), Cote d'Ivoire (X units), Ghana (X units) and Benin (X units). All these countries together held approx. X% share of total imports. Mali (X units) followed a long way behind the leaders.
From 2012 to 2022, the biggest increases were recorded for Benin (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.
In value terms, Ghana ($X), Cote d'Ivoire ($X) and Nigeria ($X) constituted the countries with the highest levels of imports in 2022, with a combined X% share of total imports. Mali, Senegal, Burkina Faso and Benin lagged somewhat behind, together accounting for a further X%.
Benin, with a CAGR of X%, saw the highest growth rate of the value of imports, in terms of the main importing countries over the period under review, while purchases for the other leaders experienced a decline in the imports figures.
Import Prices by Country
In 2022, the import price in ECOWAS amounted to $X per unit, shrinking by X% against the previous year. In general, the import price saw a abrupt contraction. The most prominent rate of growth was recorded in 2021 an increase of X% against the previous year. The level of import peaked at $X per unit in 2013; however, from 2014 to 2022, import prices stood at a somewhat lower figure.
There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Ghana ($X per unit), while Benin ($X per unit) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Ghana (X%), while the other leaders experienced more modest paces of growth.
Source: IndexBox Platform
Frequently Asked Questions (FAQ) :
This report provides an in-depth analysis of the boring machinery market in ECOWAS. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.
Product coverage:
- Prodcom 28921255 - Boring or sinking machinery (including fixed platforms used for oil or natural gas exploration) (excluding self-propelled)
Country coverage:
- Benin
- Burkina Faso
- Cabo Verde
- Cote d'Ivoire
- Gambia
- Ghana
- Guinea
- Guinea-Bissau
- Liberia
- Mali
- Niger
- Nigeria
- Senegal
- Sierra Leone
- Togo
Data coverage:
- Market volume and value
- Per Capita consumption
- Forecast of the market dynamics in the medium term
- Production in ECOWAS, split by region and country
- Trade (exports and imports) in ECOWAS
- Export and import prices
- Market trends, drivers and restraints
- Key market players and their profiles
Reasons to buy this report:
- Take advantage of the latest data
- Find deeper insights into current market developments
- Discover vital success factors affecting the market
This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.
In this report, you can find information that helps you to make informed decisions on the following issues:
- How to diversify your business and benefit from new market opportunities
- How to load your idle production capacity
- How to boost your sales on overseas markets
- How to increase your profit margins
- How to make your supply chain more sustainable
- How to reduce your production and supply chain costs
- How to outsource production to other countries
- How to prepare your business for global expansion
While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.
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1. INTRODUCTION
Making Data-Driven Decisions to Grow Your Business
- REPORT DESCRIPTION
- RESEARCH METHODOLOGY AND AI PLATFORM
- DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
- GLOSSARY AND SPECIFIC TERMS
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2. EXECUTIVE SUMMARY
A Quick Overview of Market Performance
- KEY FINDINGS
- MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
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3. MARKET OVERVIEW
Understanding the Current State of The Market and Its Prospects
- MARKET SIZE
- CONSUMPTION BY COUNTRY
- MARKET FORECAST TO 2030
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4. MOST PROMISING PRODUCT
Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO- TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
- BEST-SELLING PRODUCTS
- MOST CONSUMED PRODUCT
- MOST TRADED PRODUCT
- MOST PROFITABLE PRODUCT FOR EXPORT
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5. MOST PROMISING SUPPLYING COUNTRIES
Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO- TOP COUNTRIES TO SOURCE YOUR PRODUCT
- TOP PRODUCING COUNTRIES
- TOP EXPORTING COUNTRIES
- LOW-COST EXPORTING COUNTRIES
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6. MOST PROMISING OVERSEAS MARKETS
Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO- TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
- TOP CONSUMING MARKETS
- UNSATURATED MARKETS
- TOP IMPORTING MARKETS
- MOST PROFITABLE MARKETS
7. PRODUCTION
The Latest Trends and Insights into The Industry
- PRODUCTION VOLUME AND VALUE
- PRODUCTION BY COUNTRY
8. IMPORTS
The Largest Importers on The Market and How They Succeed
- IMPORTS FROM 2012–2023
- IMPORTS BY COUNTRY
- IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Exporters on The Market and How They Succeed
- EXPORTS FROM 2012–2023
- EXPORTS BY COUNTRY
- EXPORT PRICES BY COUNTRY
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10. PROFILES OF MAJOR PRODUCERS
The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO -
11. COUNTRY PROFILES
The Largest Markets And Their Profiles
This Chapter is Available Only for the Professional Edition PRO- Benin
- Burkina Faso
- Cabo Verde
- Gambia
- Ghana
- Guinea
- Guinea-Bissau
- Liberia
- Mali
- Niger
- Nigeria
- Senegal
- Sierra Leone
- Togo
- Cote d'Ivoire
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LIST OF TABLES
- Key Findings In 2023
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Per Capita Consumption, By Country, 2018–2023
- Production, In Physical Terms, By Country, 2012–2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Destination, 2012–2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Origin, 2012–2023
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LIST OF FIGURES
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Consumption, By Country, 2023
- Market Volume Forecast to 2030
- Market Value Forecast to 2030
- Products: Market Size And Growth, By Type
- Products: Average Per Capita Consumption, By Type
- Products: Exports And Growth, By Type
- Products: Export Prices And Growth, By Type
- Production Volume And Growth
- Exports And Growth
- Export Prices And Growth
- Market Size And Growth
- Per Capita Consumption
- Imports And Growth
- Import Prices
- Production, In Physical Terms, 2012–2023
- Production, In Value Terms, 2012–2023
- Production, By Country, 2023
- Production, In Physical Terms, By Country, 2012–2023
- Imports, In Physical Terms, 2012–2023
- Imports, In Value Terms, 2012–2023
- Imports, In Physical Terms, By Country, 2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country, 2012–2023
- Exports, In Physical Terms, 2012–2023
- Exports, In Value Terms, 2012–2023
- Exports, In Physical Terms, By Country, 2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, 2012–2023
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