ECOWAS: Shaft Coupling Market 2024

Shaft Coupling Market Size in ECOWAS

The ECOWAS shaft coupling market stood at $X in 2022, growing by X% against the previous year. In general, consumption saw a relatively flat trend pattern. Over the period under review, the market hit record highs at $X in 2013; however, from 2014 to 2022, consumption remained at a lower figure.

Shaft Coupling Production in ECOWAS

In value terms, shaft coupling production shrank modestly to $X in 2022 estimated in export price. Overall, production continues to indicate a pronounced slump. The most prominent rate of growth was recorded in 2017 with an increase of X%. Over the period under review, production hit record highs at $X in 2013; however, from 2014 to 2022, production stood at a somewhat lower figure.

Shaft Coupling Exports

Exports in ECOWAS

After two years of growth, overseas shipments of clutches and shaft couplings decreased by X% to X tons in 2022. Overall, exports showed a mild curtailment. The pace of growth was the most pronounced in 2017 when exports increased by X% against the previous year. Over the period under review, the exports hit record highs at X tons in 2021, and then dropped significantly in the following year.

In value terms, shaft coupling exports declined significantly to $X in 2022. Over the period under review, exports saw a pronounced curtailment. The most prominent rate of growth was recorded in 2021 with an increase of X%. As a result, the exports attained the peak of $X, and then reduced rapidly in the following year.

Exports by Country

In 2022, Guinea (X tons), distantly followed by Burkina Faso (X tons), Ghana (X tons), Mali (X tons) and Cote d'Ivoire (X tons) were the key exporters of clutches and shaft couplings, together mixing up X% of total exports. Niger (X kg) followed a long way behind the leaders.

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

In value terms, the largest shaft coupling supplying countries in ECOWAS were Guinea ($X), Burkina Faso ($X) and Cote d'Ivoire ($X), together comprising X% of total exports.

In terms of the main exporting countries, Burkina Faso, with a CAGR of X%, recorded the highest rates of growth with regard to the value of exports, 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 ton, declining by X% against the previous year. Overall, the export price showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 an increase of X% against the previous year. The level of export peaked at $X per ton in 2018; however, from 2019 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 Cote d'Ivoire ($X per ton), while Niger ($X per ton) 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 a decline in the export price figures.

Shaft Coupling Imports

Imports in ECOWAS

In 2022, overseas purchases of clutches and shaft couplings decreased by X% to X tons for the first time since 2016, thus ending a five-year rising trend. Overall, imports, however, recorded a significant increase. The pace of growth appeared the most rapid in 2020 with an increase of X% against the previous year. The volume of import peaked at X tons in 2021, and then reduced in the following year.

In value terms, shaft coupling imports soared to $X in 2022. In general, imports, however, enjoyed a strong increase. The pace of growth appeared the most rapid in 2013 when imports increased by X%. The level of import peaked in 2022 and is likely to see steady growth in the near future.

Imports by Country

Nigeria prevails in imports structure, resulting at X tons, which was approx. X% of total imports in 2022. Ghana (X tons) and Cote d'Ivoire (X tons) held a little share of total imports.

Nigeria was also the fastest-growing in terms of the clutches and shaft couplings imports, with a CAGR of X% from 2012 to 2022. At the same time, Cote d'Ivoire (X%) and Ghana (X%) displayed positive paces of growth. While the share of Nigeria (X p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Cote d'Ivoire (X p.p.) and Ghana (X p.p.) displayed negative dynamics.

In value terms, Nigeria ($X) constitutes the largest market for imported clutches and shaft couplings in ECOWAS, comprising X% of total imports. The second position in the ranking was held by Ghana ($X), with a X% share of total imports.

In Nigeria, shaft coupling 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

The import price in ECOWAS stood at $X per ton in 2022, jumping by X% against the previous year. Over the period under review, the import price, however, continues to indicate a abrupt decline. The growth pace was the most rapid in 2015 an increase of X% against the previous year. As a result, import price attained the peak level of $X per ton. From 2016 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 Cote d'Ivoire ($X per ton), while Nigeria ($X per ton) 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 a decline in the import price figures.

Source: IndexBox Platform

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