ECOWAS: Ignition Coil Market 2024

Ignition Coil Market Size in ECOWAS

In 2022, the ECOWAS ignition coil market decreased by X% to $X for the first time since 2019, thus ending a two-year rising trend. Over the period under review, consumption continues to indicate a mild decrease. The level of consumption peaked at $X in 2013; however, from 2014 to 2022, consumption remained at a lower figure.

Ignition Coil Production in ECOWAS

In value terms, ignition coil production stood at $X in 2022 estimated in export price. Overall, production continues to indicate a noticeable decrease. The most prominent rate of growth was recorded in 2017 when the production volume increased by X%. Over the period under review, production hit record highs at $X in 2013; however, from 2014 to 2022, production remained at a lower figure.

Ignition Coil Exports

Exports in ECOWAS

Ignition coil exports reached X units in 2022, leveling off at the year before. In general, exports, however, showed a slight decline. The growth pace was the most rapid in 2016 when exports increased by X% against the previous year. The volume of export peaked at X units in 2017; however, from 2018 to 2022, the exports remained at a lower figure.

In value terms, ignition coil exports shrank slightly to $X in 2022. Over the period under review, exports, however, recorded a noticeable reduction. The most prominent rate of growth was recorded in 2016 with an increase of X%. Over the period under review, the exports attained the maximum at $X in 2017; however, from 2018 to 2022, the exports remained at a lower figure.

Exports by Country

Sierra Leone represented the main exporter of distributors and ignition coils in ECOWAS, with the volume of exports recording X units, which was near X% of total exports in 2022. It was distantly followed by Nigeria (X units), committing a X% share of total exports. Cote d'Ivoire (X units) and Senegal (X units) held a relatively small share of total exports.

Sierra Leone was also the fastest-growing in terms of the distributors and ignition coils exports, with a CAGR of X% from 2012 to 2022. Cote d'Ivoire (X%), Nigeria (X%) and Senegal (X%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Sierra Leone increased by X percentage points. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Sierra Leone ($X) remains the largest ignition coil supplier in ECOWAS, comprising X% of total exports. The second position in the ranking was held by Nigeria ($X), with a X% share of total exports. It was followed by Cote d'Ivoire, with a X% share.

In Sierra Leone, ignition coil exports expanded at an average annual rate of X% over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: Nigeria (X% per year) and Cote d'Ivoire (X% per year).

Export Prices by Country

The export price in ECOWAS stood at $X per unit in 2022, shrinking by X% against the previous year. Overall, the export price showed a noticeable decline. The pace of growth appeared the most rapid in 2019 an increase of X%. The level of export peaked at $X per unit in 2013; however, from 2014 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Sierra Leone ($X per unit), while Cote d'Ivoire ($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 a decline in the export price figures.

Ignition Coil Imports

Imports in ECOWAS

After two years of growth, supplies from abroad of distributors and ignition coils decreased by X% to X units in 2022. Overall, imports, however, posted temperate growth. The most prominent rate of growth was recorded in 2021 when imports increased by X%. As a result, imports attained the peak of X units, and then shrank in the following year.

In value terms, ignition coil imports reduced to $X in 2022. In general, imports saw a mild decrease. The most prominent rate of growth was recorded in 2021 with an increase of X%. Over the period under review, imports reached the peak figure at $X in 2013; however, from 2014 to 2022, imports remained at a lower figure.

Imports by Country

The countries with the highest levels of ignition coil imports in 2022 were Ghana (X units), Nigeria (X units) and Guinea (X units), together amounting to X% of total import. Mali (X units) took the next position in the ranking, followed by Cote d'Ivoire (X units). All these countries together took near X% share of total imports. The following importers - Burkina Faso (X units) and Gambia (X units) - each accounted for a X% share of total imports.

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

In value terms, Nigeria ($X), Ghana ($X) and Cote d'Ivoire ($X) appeared to be the countries with the highest levels of imports in 2022, together comprising X% of total imports. Guinea, Mali, Burkina Faso and Gambia lagged somewhat behind, together comprising a further X%.

Gambia, with a CAGR of X%, saw the highest rates of growth with regard to the value of imports, among 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

The import price in ECOWAS stood at $X per unit in 2022, surging by X% against the previous year. Over the period under review, the import price, however, showed a abrupt descent. The most prominent rate of growth was recorded in 2013 an increase of X%. As a result, import price attained the peak level of $X per unit. From 2014 to 2022, the import prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Cote d'Ivoire ($X per unit), while Guinea ($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 a decline in the import price figures.

Source: IndexBox Platform