ECOWAS: Electromagnetic Lifting Head Market 2024

Electromagnetic Lifting Head Market Size in ECOWAS

The ECOWAS electromagnetic lifting head market amounted to $X in 2022, remaining stable against the previous year. Overall, consumption saw a mild decrease. As a result, consumption reached the peak level of $X. From 2017 to 2022, the growth of the market remained at a lower figure.

Electromagnetic Lifting Head Production in ECOWAS

In value terms, electromagnetic lifting head production stood at $X in 2022 estimated in export price. Overall, production saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 when the production volume increased by X%. As a result, production reached the peak level of $X. From 2017 to 2022, production growth remained at a somewhat lower figure.

Electromagnetic Lifting Head Exports

Exports in ECOWAS

In 2022, the amount of electromagnets and electromagnetic lifting heads exported in ECOWAS reduced sharply to X kg, which is down by X% on 2021 figures. Over the period under review, exports, however, recorded a notable increase. The pace of growth appeared the most rapid in 2016 with an increase of X%. As a result, the exports reached the peak of X tons. From 2017 to 2022, the growth of the exports remained at a lower figure.

In value terms, electromagnetic lifting head exports declined markedly to $X in 2022. In general, exports, however, enjoyed buoyant growth. The growth pace was the most rapid in 2020 when exports increased by X% against the previous year. The level of export peaked at $X in 2021, and then shrank significantly in the following year.

Exports by Country

Benin (X kg) and Guinea (X kg) were the major exporters of electromagnets and electromagnetic lifting heads in 2022, amounting to near X% and X% of total exports, respectively. Ghana (X kg) held a X% share (based on physical terms) of total exports, which put it in second place, followed by Cote d'Ivoire (X%), Sierra Leone (X%) and Senegal (X%). Nigeria (X kg) followed a long way behind the leaders.

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

In value terms, Benin ($X) remains the largest electromagnetic lifting head supplier in ECOWAS, comprising X% of total exports. The second position in the ranking was held by Guinea ($X), with a X% share of total exports. It was followed by Cote d'Ivoire, with an X% share.

From 2012 to 2022, the average annual rate of growth in terms of value in Benin amounted to X%. In the other countries, the average annual rates were as follows: Guinea (X% per year) and Cote d'Ivoire (X% per year).

Export Prices by Country

The export price in ECOWAS stood at $X per ton in 2022, with a decrease of X% against the previous year. In general, the export price, however, recorded a noticeable increase. The pace of growth was the most pronounced in 2017 when the export price increased by X% against the previous year. The level of export peaked at $X per ton in 2021, and then fell remarkably in the following year.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Benin ($X per ton), while Senegal ($X per ton) was amongst the lowest.

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

Electromagnetic Lifting Head Imports

Imports in ECOWAS

In 2022, approx. X tons of electromagnets and electromagnetic lifting heads were imported in ECOWAS; stabilizing at the year before. In general, imports saw a deep contraction. The pace of growth appeared the most rapid in 2019 when imports increased by X% against the previous year. The volume of import peaked at X tons in 2012; however, from 2013 to 2022, imports failed to regain momentum.

In value terms, electromagnetic lifting head imports expanded rapidly to $X in 2022. Over the period under review, imports saw a perceptible downturn. The growth pace was the most rapid in 2019 with an increase of X% against the previous year. The level of import peaked at $X in 2012; however, from 2013 to 2022, imports failed to regain momentum.

Imports by Country

Nigeria was the main importer of electromagnets and electromagnetic lifting heads in ECOWAS, with the volume of imports reaching X tons, which was approx. X% of total imports in 2022. Ghana (X tons) took the second position in the ranking, followed by Cote d'Ivoire (X tons), Senegal (X tons) and Burkina Faso (X tons). All these countries together held approx. X% share of total imports. Mali (X tons) and Guinea (X tons) followed a long way behind the leaders.

Imports into Nigeria decreased at an average annual rate of X% from 2012 to 2022. At the same time, Burkina Faso (X%), Guinea (X%), Mali (X%), Cote d'Ivoire (X%) and Senegal (X%) displayed positive paces of growth. Moreover, Burkina Faso emerged as the fastest-growing importer imported in ECOWAS, with a CAGR of X% from 2012-2022. By contrast, Ghana (X%) illustrated a downward trend over the same period. Cote d'Ivoire (X p.p.), Ghana (X p.p.), Burkina Faso (X p.p.), Senegal (X p.p.), Mali (X p.p.) and Guinea (X p.p.) significantly strengthened its position in terms of the total imports, while Nigeria saw its share reduced by X% from 2012 to 2022, respectively.

In value terms, the largest electromagnetic lifting head importing markets in ECOWAS were Nigeria ($X), Ghana ($X) and Cote d'Ivoire ($X), with a combined X% share of total imports. Senegal, Burkina Faso, Mali and Guinea lagged somewhat behind, together comprising a further X%.

Burkina Faso, 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

The import price in ECOWAS stood at $X per ton in 2022, surging by X% against the previous year. Import price indicated a prominent increase 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, electromagnetic lifting head import price decreased by X% against 2018 indices. The most prominent rate of growth was recorded in 2013 when the import price increased by X%. The level of import peaked at $X per ton in 2018; however, from 2019 to 2022, import prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Senegal ($X per ton), while Nigeria ($X per ton) 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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