ECOWAS: Market for Diesel Engines (Other Than For Motor Vehicles And Aircraft) 2024

Market Size for Diesel Engines (Other Than For Motor Vehicles And Aircraft) in ECOWAS

The ECOWAS market for diesel engines (other than for motor vehicles and aircraft) contracted to $X in 2022, with a decrease of X% against the previous year. Over the period under review, consumption recorded a noticeable slump. As a result, consumption reached the peak level of $X. From 2021 to 2022, the growth of the market remained at a somewhat lower figure.

Production of Diesel Engines (Other Than For Motor Vehicles And Aircraft) in ECOWAS

In value terms, production of diesel engines (other than for motor vehicles and aircraft) fell modestly to $X in 2022 estimated in export price. In general, production, however, continues to indicate a strong expansion. The growth pace was the most rapid in 2016 with an increase of X%. Over the period under review, production of attained the maximum level at $X in 2019; however, from 2020 to 2022, production failed to regain momentum.

Exports of Diesel Engines (Other Than For Motor Vehicles And Aircraft)

Exports in ECOWAS

In 2022, the amount of diesel engines (other than for motor vehicles and aircraft) exported in ECOWAS skyrocketed to X units, jumping by X% compared with the previous year's figure. In general, exports saw measured growth. The pace of growth was the most pronounced in 2015 with an increase of X%. The volume of export peaked at X units in 2016; however, from 2017 to 2022, the exports stood at a somewhat lower figure.

In value terms, exports of diesel engines (other than for motor vehicles and aircraft) soared to $X in 2022. Over the period under review, exports posted temperate growth. The most prominent rate of growth was recorded in 2015 when exports increased by X%. Over the period under review, the exports of reached the peak figure at $X in 2018; however, from 2019 to 2022, the exports remained at a lower figure.

Exports by Country

In 2022, Burkina Faso (X units), distantly followed by Senegal (X units), Mali (X units), Ghana (X units), Cote d'Ivoire (X units) and Guinea (X units) represented the main exporters of diesel engines (other than for motor vehicles and aircraft), together generating X% 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, the largest diesel engines (other than for motor vehicles and aircraft) supplying countries in ECOWAS were Burkina Faso ($X), Senegal ($X) and Mali ($X), together accounting for X% of total exports. Ghana, Cote d'Ivoire and Guinea lagged somewhat behind, together comprising a further X%.

Guinea, with a CAGR of X%, recorded the highest rates of growth with regard to 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, almost unchanged from the previous year. Export price indicated slight growth from 2012 to 2022: its price 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, export price for diesel engines (other than for motor vehicles and aircraft) decreased by X% against 2019 indices. The most prominent rate of growth was recorded in 2018 an increase of X% against the previous year. Over the period under review, the export prices reached the peak figure at $X per unit in 2019; however, from 2020 to 2022, the export prices failed to regain momentum.

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

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

Imports of Diesel Engines (Other Than For Motor Vehicles And Aircraft)

Imports in ECOWAS

In 2022, approx. X units of diesel engines (other than for motor vehicles and aircraft) were imported in ECOWAS; standing approx. at 2021. In general, imports recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2020 when imports increased by X%. As a result, imports attained the peak of X units. From 2021 to 2022, the growth of imports of remained at a lower figure.

In value terms, imports of diesel engines (other than for motor vehicles and aircraft) contracted dramatically to $X in 2022. Overall, imports, however, continue to indicate a slight setback. The most prominent rate of growth was recorded in 2020 with an increase of X%. As a result, imports reached the peak of $X. From 2021 to 2022, the growth of imports of failed to regain momentum.

Imports by Country

In 2022, Mali (X units) represented the main importer of diesel engines (other than for motor vehicles and aircraft), making up 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%). The following importers - Nigeria (X units), Burkina Faso (X units), Liberia (X units), Senegal (X units), Cote d'Ivoire (X units) and Niger (X units) - together made up X% of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by Mali (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Ghana ($X), Mali ($X) and Guinea ($X) appeared to be the countries with the highest levels of imports in 2022, with a combined X% share of total imports.

Mali, with a CAGR of X%, recorded 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 more modest paces of growth.

Import Prices by Country

In 2022, the import price in ECOWAS amounted to $X per unit, which is down by X% against the previous year. In general, the import price recorded a mild shrinkage. The most prominent rate of growth was recorded in 2018 an increase of X%. Over the period under review, import prices attained the maximum at $X per unit in 2016; however, from 2017 to 2022, import prices failed to regain momentum.

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

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

Source: IndexBox Platform

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