ECOWAS: Electrical Signalling Apparatus Market 2023

Electrical Signalling Apparatus Market Size in ECOWAS

In 2022, the ECOWAS electrical signalling apparatus market decreased by -14.7% to $X, falling for the third year in a row after two years of growth. The total consumption indicated mild growth from 2012 to 2022: its value increased at an average annual rate of +1.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by -33.5% against 2019 indices. As a result, consumption reached the peak level of $X. From 2020 to 2022, the growth of the market remained at a lower figure.

Electrical Signalling Apparatus Production in ECOWAS

In value terms, electrical signalling apparatus production stood at $X in 2022 estimated in export price. The total production indicated a resilient increase from 2012 to 2022: its value increased at an average annual rate of +5.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production increased by +2.6% against 2019 indices. The growth pace was the most rapid in 2015 when the production volume increased by 56% against the previous year. Over the period under review, production hit record highs at $X in 2017; however, from 2018 to 2022, production remained at a lower figure.

Electrical Signalling Apparatus Exports

Exports in ECOWAS

In 2022, shipments abroad of electrical apparatus for sound or visual signalling was finally on the rise to reach X units after four years of decline. In general, exports, however, continue to indicate a slight descent. The pace of growth was the most pronounced in 2013 when exports increased by 172% against the previous year. The volume of export peaked at X units in 2014; however, from 2015 to 2022, the exports stood at a somewhat lower figure.

In value terms, electrical signalling apparatus exports declined to $X in 2022. Over the period under review, exports, however, continue to indicate a mild downturn. The growth pace was the most rapid in 2014 with an increase of 99%. As a result, the exports attained the peak of $X. From 2015 to 2022, the growth of the exports remained at a somewhat lower figure.

Exports by Country

In 2022, Liberia (X units), distantly followed by Mali (X units), Nigeria (X units), Guinea (X units) and Senegal (X units) represented the largest exporters of electrical apparatus for sound or visual signalling, together committing 90% of total exports. The following exporters - Cote d'Ivoire (X units) and Togo (X units) - each amounted to a 5.6% share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the key exporting countries, was attained by Mali (with a CAGR of +61.5%), while the other leaders experienced more modest paces of growth.

In value terms, Nigeria ($X), Guinea ($X) and Liberia ($X) appeared to be the countries with the highest levels of exports in 2022, together comprising 56% of total exports. Cote d'Ivoire, Senegal, Mali and Togo lagged somewhat behind, together comprising a further 33%.

In terms of the main exporting countries, Mali, with a CAGR of +53.0%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The export price in ECOWAS stood at $X per unit in 2022, falling by -24.1% against the previous year. Overall, the export price showed a relatively flat trend pattern. The growth pace was the most rapid in 2015 when the export price increased by 99%. Over the period under review, the export prices reached the maximum at $X per unit in 2021, and then declined remarkably in the following year.

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 Cote d'Ivoire ($X per unit), while Mali ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Cote d'Ivoire (+59.0%), while the other leaders experienced more modest paces of growth.

Electrical Signalling Apparatus Imports

Imports in ECOWAS

In 2022, approx. X units of electrical apparatus for sound or visual signalling were imported in ECOWAS; dropping by -10.1% compared with 2021. Overall, imports saw a slight reduction. The most prominent rate of growth was recorded in 2014 when imports increased by 103% against the previous year. As a result, imports reached the peak of X units. From 2015 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, electrical signalling apparatus imports dropped significantly to $X in 2022. In general, imports showed a relatively flat trend pattern. The growth pace was the most rapid in 2019 when imports increased by 137%. As a result, imports reached the peak of $X. From 2020 to 2022, the growth of imports failed to regain momentum.

Imports by Country

The purchases of the four major importers of electrical apparatus for sound or visual signalling, namely Cabo Verde, Cote d'Ivoire, Ghana and Senegal, represented more than two-thirds of total import. Niger (X units) took a 6% share (based on physical terms) of total imports, which put it in second place, followed by Togo (5.8%), Nigeria (5.6%) and Mali (5.4%).

From 2012 to 2022, the biggest increases were recorded for Togo (with a CAGR of +42.8%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest electrical signalling apparatus importing markets in ECOWAS were Cote d'Ivoire ($X), Ghana ($X) and Senegal ($X), together comprising 60% of total imports. Mali, Nigeria, Togo, Cabo Verde and Niger lagged somewhat behind, together accounting for a further 25%.

Togo, with a CAGR of +37.0%, 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

The import price in ECOWAS stood at $X per unit in 2022, which is down by -24.4% against the previous year. Overall, the import price, however, saw modest growth. The pace of growth was the most pronounced in 2019 an increase of 146%. As a result, import price attained the peak level of $X per unit. From 2020 to 2022, the 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 Mali ($X per unit), while Cabo Verde ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Senegal (+10.5%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform

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