ECOWAS: Market for Industrial, Laboratory or Bakery Ovens 2024

Market Size for Industrial, Laboratory or Bakery Ovens in ECOWAS

The ECOWAS market for industrial, laboratory or bakery ovens reached $X in 2022, increasing by X% against the previous year. Overall, consumption recorded prominent growth. 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 Industrial, Laboratory or Bakery Ovens in ECOWAS

In value terms, industrial, laboratory or bakery oven production rose rapidly to $X in 2022 estimated in export price. Over the period under review, production enjoyed buoyant growth. The most prominent rate of growth was recorded in 2020 with an increase of X%. As a result, production attained the peak level of $X. From 2021 to 2022, production growth failed to regain momentum.

Exports of Industrial, Laboratory or Bakery Ovens

Exports by Country

Ghana was the largest exporter of industrial, laboratory or bakery ovens in ECOWAS, with the volume of exports reaching X units, which was near X% of total exports in 2021. It was distantly followed by Sierra Leone (X units), comprising a X% share of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the key exporting countries, was attained by Ghana (with a CAGR of X%).

In value terms, Ghana ($X) remains the largest industrial, laboratory or bakery oven supplier in ECOWAS, comprising X% of total exports. The second position in the ranking was held by Sierra Leone ($X), with a X% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value in Ghana amounted to X%.

Export Prices by Country

In 2021, the export price in ECOWAS amounted to $X per unit, which is down by X% against the previous year. In general, the export price recorded a abrupt decline. The pace of growth appeared the most rapid in 2014 when the export price increased by X% against the previous year. The level of export peaked at $X per unit in 2012; however, from 2013 to 2021, the export prices remained at a lower figure.

Average prices varied noticeably amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was Ghana ($X per unit), while Sierra Leone totaled $X per unit.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Sierra Leone (X%).

Imports of Industrial, Laboratory or Bakery Ovens

Imports in ECOWAS

In 2022, approx. X units of industrial, laboratory or bakery ovens were imported in ECOWAS; reducing by X% compared with 2021 figures. Over the period under review, imports, however, posted a tangible expansion. The most prominent rate of growth was recorded in 2018 when imports increased by X%. As a result, imports attained the peak of X units. From 2019 to 2022, the growth of imports failed to regain momentum.

In value terms, industrial, laboratory or bakery oven imports shrank markedly to $X in 2022. In general, imports, however, posted a remarkable increase. The pace of growth appeared the most rapid in 2018 with an increase of X%. As a result, imports attained the peak of $X. From 2019 to 2022, the growth of imports failed to regain momentum.

Imports by Country

Ghana was the largest importer of industrial, laboratory or bakery ovens in ECOWAS, with the volume of imports amounting to X units, which was approx. X% of total imports in 2022. Guinea (X units) took the second position in the ranking, followed by Cote d'Ivoire (X units), Nigeria (X units) and Mali (X units). All these countries together held approx. X% share of total imports. The following importers - Sierra Leone (X units) and Senegal (X units) - each finished at a X% share of total imports.

From 2012 to 2022, average annual rates of growth with regard to industrial, laboratory or bakery oven imports into Ghana stood at X%. At the same time, Guinea (X%), Nigeria (X%), Sierra Leone (X%), Senegal (X%) and Cote d'Ivoire (X%) displayed positive paces of growth. Moreover, Guinea emerged as the fastest-growing importer imported in ECOWAS, with a CAGR of X% from 2012-2022. By contrast, Mali (X%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Guinea, Ghana, Nigeria, Cote d'Ivoire and Sierra Leone increased by X, X, X, X and X percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Ghana ($X), Cote d'Ivoire ($X) and Guinea ($X) were the countries with the highest levels of imports in 2022, with a combined X% share of total imports. Nigeria, Mali, Senegal and Sierra Leone lagged somewhat behind, together comprising a further X%.

Nigeria, with a CAGR of X%, saw the highest growth rate of 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

In 2022, the import price in ECOWAS amounted to $X per unit, shrinking by X% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of X%. The most prominent rate of growth was recorded in 2016 when the import price increased by X% against the previous year. The level of import peaked at $X per unit in 2018; however, from 2019 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 Cote d'Ivoire ($X per unit), while Sierra Leone ($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 more modest paces of growth.

Source: IndexBox Platform

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