ECOWAS: Combine Harvester Market 2024

Combine Harvester Market Size in ECOWAS

In 2023, the ECOWAS combine harvester market decreased by X% to $X for the first time since 2020, thus ending a two-year rising trend. The market value increased at an average annual rate of X% from 2012 to 2023; the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, consumption attained the peak level of $X. From 2018 to 2023, the growth of the market remained at a somewhat lower figure.

Combine Harvester Production in ECOWAS

In value terms, combine harvester production rose to $X in 2023 estimated in export price. In general, production, however, saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 when the production volume increased by X%. Over the period under review, production hit record highs at $X in 2012; however, from 2013 to 2023, production remained at a lower figure.

Combine Harvester Exports

Exports in ECOWAS

In 2023, after two years of decline, there was decline in overseas shipments of combine harvester-threshers, when their volume decreased by X% to X units. Overall, exports saw a abrupt setback. The growth pace was the most rapid in 2020 with an increase of X% against the previous year. As a result, the exports attained the peak of X units. From 2021 to 2023, the growth of the exports failed to regain momentum.

In value terms, combine harvester exports declined modestly to $X in 2023. In general, exports saw a relatively flat trend pattern. The growth pace was the most rapid in 2017 with an increase of X% against the previous year. The level of export peaked at $X in 2020; however, from 2021 to 2023, the exports remained at a lower figure.

Exports by Country

In 2023, Senegal (X units) represented the major exporter of combine harvester-threshers in ECOWAS, committing X% of total export.

Senegal was also the fastest-growing in terms of the combine harvester-threshers exports, with a CAGR of X% from 2012 to 2023. The shares of the largest exporters remained relatively stable throughout the analyzed period.

In value terms, Senegal ($X) also remains the largest combine harvester supplier in ECOWAS.

In Senegal, combine harvester exports remained relatively stable over the period from 2012-2023.

Export Prices by Country

In 2023, the export price in ECOWAS amounted to $X per unit, therefore, remained relatively stable against the previous year. In general, the export price, however, saw strong growth. The pace of growth appeared the most rapid in 2017 an increase of X%. The level of export peaked at $X per unit in 2021; however, from 2022 to 2023, the export prices failed to regain momentum.

As there is only one major export destination, the average price level is determined by prices for Senegal.

From 2012 to 2023, the rate of growth in terms of prices for Senegal amounted to X% per year.

Combine Harvester Imports

Imports in ECOWAS

In 2023, after two years of growth, there was significant decline in overseas purchases of combine harvester-threshers, when their volume decreased by X% to X units. In general, imports, however, continue to indicate buoyant growth. The pace of growth was the most pronounced in 2017 when imports increased by X% against the previous year. The volume of import peaked at X units in 2022, and then shrank markedly in the following year.

In value terms, combine harvester imports fell to $X in 2023. Overall, imports, however, posted a buoyant increase. The growth pace was the most rapid in 2017 when imports increased by X%. As a result, imports reached the peak of $X. From 2018 to 2023, the growth of imports remained at a lower figure.

Imports by Country

In 2023, Ghana (X units) represented the key importer of combine harvester-threshers, making up X% of total imports. Nigeria (X units) ranks second in terms of the total imports with a X% share, followed by Senegal (X%) and Guinea (X%). Cote d'Ivoire (X units), Sierra Leone (X units) and Benin (X units) took a little share of total imports.

Ghana was also the fastest-growing in terms of the combine harvester-threshers imports, with a CAGR of X% from 2012 to 2023. At the same time, Nigeria (X%), Sierra Leone (X%), Guinea (X%), Benin (X%), Cote d'Ivoire (X%) and Senegal (X%) displayed positive paces of growth. From 2012 to 2023, the share of Ghana and Nigeria increased by X and X percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Ghana ($X), Nigeria ($X) and Senegal ($X) constituted the countries with the highest levels of imports in 2023, with a combined X% share of total imports. Cote d'Ivoire, Benin, Guinea and Sierra Leone lagged somewhat behind, together comprising a further X%.

Among the main importing countries, Benin, with a CAGR of X%, saw the highest growth rate of 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 2023, increasing by X% against the previous year. Import price indicated a buoyant increase from 2012 to 2023: its price increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, combine harvester import price increased by X% against 2021 indices. The most prominent rate of growth was recorded in 2013 an increase of X% against the previous year. The level of import peaked at $X per unit in 2017; however, from 2018 to 2023, import prices remained at a lower figure.

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

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Benin (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform