ECOWAS: Market for Cooling Towers, Vacuum-Vapour Plants, And Other Machinery for Material Treatment by Heating or Cooling Process 2024

Market Size for Cooling Towers, Vacuum-Vapour Plants, And Other Machinery for Material Treatment by Heating or Cooling Process in ECOWAS

The ECOWAS market for cooling towers, vacuum-vapour plants, and other machinery for material treatment by heating or cooling process dropped to $X in 2022, declining by X% against the previous year. In general, consumption, however, recorded tangible growth. Over the period under review, the market hit record highs at $X in 2019; however, from 2020 to 2022, consumption stood at a somewhat lower figure.

Production of Cooling Towers, Vacuum-Vapour Plants, And Other Machinery for Material Treatment by Heating or Cooling Process in ECOWAS

In value terms, production of cooling towers, vacuum-vapour plants, and other machinery for material treatment by heating or cooling process stood at $X in 2022 estimated in export price. The total production indicated a remarkable increase from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by X% against 2020 indices. The pace of growth was the most pronounced in 2015 when the production volume increased by X%. The level of production peaked at $X in 2016; however, from 2017 to 2022, production failed to regain momentum.

Exports of Cooling Towers, Vacuum-Vapour Plants, And Other Machinery for Material Treatment by Heating or Cooling Process

Exports in ECOWAS

In 2022, the amount of cooling towers, vacuum-vapour plants, and other machinery for material treatment by heating or cooling process exported in ECOWAS dropped rapidly to X units, reducing by X% on the previous year. Over the period under review, exports continue to indicate a dramatic downturn. The most prominent rate of growth was recorded in 2013 when exports increased by X% against the previous year. As a result, the exports reached the peak of X units. From 2014 to 2022, the growth of the exports of remained at a somewhat lower figure.

In value terms, exports of cooling towers, vacuum-vapour plants, and other machinery for material treatment by heating or cooling process skyrocketed to $X in 2022. In general, exports saw a significant curtailment. Over the period under review, the exports of attained the peak figure at $X in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Ghana (X units) and Cote d'Ivoire (X units) were the key exporters of cooling towers, vacuum-vapour plants, and other machinery for material treatment by heating or cooling process in 2022, accounting for near X% and X% of total exports, respectively. Sierra Leone (X units) ranks next in terms of the total exports with a X% share, followed by Senegal (X%) and Burkina Faso (X%). The following exporters - Guinea (X units) and Liberia (X units) - each amounted to a X% share of total exports.

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

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

Liberia, with a CAGR of X%, recorded the highest rates of growth with regard to the value of exports, among the main exporting countries over the period under review, while shipments for the other leaders experienced mixed trends in the exports figures.

Export Prices by Country

In 2022, the export price in ECOWAS amounted to $X per unit, picking up by X% against the previous year. In general, the export price, however, recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2014 an increase of X%. The level of export peaked at $X per unit in 2012; afterwards, it flattened through to 2022.

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 ($X per unit), while Guinea ($X per unit) was amongst the lowest.

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

Imports of Cooling Towers, Vacuum-Vapour Plants, And Other Machinery for Material Treatment by Heating or Cooling Process

Imports in ECOWAS

In 2022, purchases abroad of cooling towers, vacuum-vapour plants, and other machinery for material treatment by heating or cooling process decreased by X% to X units, falling for the second year in a row after two years of growth. In general, imports, however, continue to indicate a prominent increase. The pace of growth appeared the most rapid in 2016 with an increase of X%. Over the period under review, imports of hit record highs at X units in 2020; however, from 2021 to 2022, imports remained at a lower figure.

In value terms, imports of cooling towers, vacuum-vapour plants, and other machinery for material treatment by heating or cooling process reduced markedly to $X in 2022. Over the period under review, imports, however, continue to indicate a buoyant expansion. The pace of growth appeared the most rapid in 2016 with an increase of X% against the previous year. The level of import peaked at $X in 2019; however, from 2020 to 2022, imports remained at a lower figure.

Imports by Country

Nigeria dominates process structure, finishing at X units, which was near X% of total imports in 2022. It was distantly followed by Ghana (X units) and Cote d'Ivoire (X units), together making up a X% share of total imports. The following importers - Niger (X units) and Guinea (X units) - each amounted to a X% share of total imports.

Nigeria was also the fastest-growing in terms of the cooling towers, vacuum-vapour plants, and other machinery for material treatment by heating or cooling process imports, with a CAGR of X% from 2012 to 2022. At the same time, Niger (X%), Guinea (X%) and Ghana (X%) displayed positive paces of growth. By contrast, Cote d'Ivoire (X%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Nigeria increased by X percentage points. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Nigeria ($X) constitutes the largest market for imported cooling towers, vacuum-vapour plants, and other machinery for material treatment by heating or cooling process in ECOWAS, comprising X% of total imports. The second position in the ranking was held by Cote d'Ivoire ($X), with a X% share of total imports. It was followed by Ghana, with a X% share.

In Nigeria, imports of cooling towers, vacuum-vapour plants, and other machinery for material treatment by heating or cooling process 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: Cote d'Ivoire (X% per year) and Ghana (X% per year).

Import Prices by Country

In 2022, the import price in ECOWAS amounted to $X per unit, increasing by X% against the previous year. Overall, the import price, however, recorded a perceptible decrease. The growth pace was the most rapid in 2016 an increase of X%. As a result, import price reached the peak level of $X per unit. From 2017 to 2022, the import prices remained at a lower figure.

Average prices varied somewhat amongst the major importing countries. In 2022, major importing countries recorded the following prices: in Cote d'Ivoire ($X per unit) and Ghana ($X per unit), while Guinea ($X per unit) and Niger ($X per unit) were 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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