ECOWAS: Market for Gym and Fitness Equipment 2024

Market Size for Gym and Fitness Equipment in ECOWAS

The ECOWAS gym and fitness equipment market reached $X in 2022, almost unchanged from the previous year. The total consumption indicated a slight expansion from 2012 to 2022: its value 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, consumption increased by X% against 2019 indices. As a result, consumption attained the peak level of $X. From 2015 to 2022, the growth of the market failed to regain momentum.

Production of Gym and Fitness Equipment in ECOWAS

In value terms, gym and fitness equipment production rose modestly to $X in 2022 estimated in export price. Over the period under review, production, however, posted a slight increase. The most prominent rate of growth was recorded in 2014 when the production volume increased by X% against the previous year. As a result, production attained the peak level of $X. From 2015 to 2022, production growth remained at a lower figure.

Exports of Gym and Fitness Equipment

Exports in ECOWAS

In 2022, shipments abroad of gym and fitness equipment increased by X% to X tons, rising for the second consecutive year after three years of decline. Overall, exports, however, continue to indicate a perceptible curtailment. The most prominent rate of growth was recorded in 2021 with an increase of X%. The volume of export peaked at X tons in 2013; however, from 2014 to 2022, the exports stood at a somewhat lower figure.

In value terms, gym and fitness equipment exports dropped sharply to $X in 2022. In general, exports, however, saw a abrupt contraction. The growth pace was the most rapid in 2017 when exports increased by X%. Over the period under review, the exports reached the peak figure at $X in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

Exports by Country

Senegal represented the largest exporter of gym and fitness equipment in ECOWAS, with the volume of exports finishing at X tons, which was approx. X% of total exports in 2022. Ghana (X tons) ranks second in terms of the total exports with an X% share, followed by Sierra Leone (X%) and Cote d'Ivoire (X%).

Exports from Senegal increased at an average annual rate of X% from 2012 to 2022. At the same time, Sierra Leone (X%) displayed positive paces of growth. Moreover, Sierra Leone emerged as the fastest-growing exporter exported in ECOWAS, with a CAGR of X% from 2012-2022. By contrast, Cote d'Ivoire (X%) and Ghana (X%) illustrated a downward trend over the same period. Senegal (X p.p.) and Sierra Leone (X p.p.) significantly strengthened its position in terms of the total exports, while Ghana saw its share reduced by X% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Sierra Leone ($X), Senegal ($X) and Cote d'Ivoire ($X) appeared to be the countries with the highest levels of exports in 2022, with a combined X% share of total exports.

Sierra Leone, with a CAGR of X%, saw 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 mixed trends in the exports figures.

Export Prices by Country

The export price in ECOWAS stood at $X per ton in 2022, waning by X% against the previous year. Over the period under review, the export price showed a noticeable downturn. 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 ton in 2020; however, from 2021 to 2022, the export prices failed to regain momentum.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Sierra Leone (X%), while the other leaders experienced a decline in the export price figures.

Imports of Gym and Fitness Equipment

Imports in ECOWAS

In 2022, after five years of growth, there was significant decline in overseas purchases of gym and fitness equipment, when their volume decreased by X% to X tons. Total imports indicated a modest increase from 2012 to 2022: its volume 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, imports increased by X% against 2016 indices. The growth pace was the most rapid in 2013 when imports increased by X%. As a result, imports attained the peak of X tons. From 2014 to 2022, the growth of imports failed to regain momentum.

In value terms, gym and fitness equipment imports shrank to $X in 2022. In general, imports, however, showed a pronounced expansion. The most prominent rate of growth was recorded in 2020 with an increase of X%. Over the period under review, imports attained the peak figure at $X in 2021, and then declined in the following year.

Imports by Country

Ghana (X tons) and Nigeria (X tons) represented roughly X% of total imports in 2022. Senegal (X tons) took a X% share (based on physical terms) of total imports, which put it in second place, followed by Cote d'Ivoire (X%). Guinea (X tons), Gambia (X tons) and Cabo Verde (X tons) held a little 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, Ghana ($X), Nigeria ($X) and Senegal ($X) appeared to be the countries with the highest levels of imports in 2022, with a combined X% share of total imports.

In terms of the main importing countries, Senegal, with a CAGR of X%, recorded the highest rates of growth with regard to the value of imports, 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 ton, approximately reflecting 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 2014 when the import price increased by X% against the previous year. Over the period under review, import prices attained the maximum at $X per ton in 2015; however, from 2016 to 2022, import prices stood at a somewhat lower figure.

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 Ghana ($X per ton), while Gambia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Ghana (X%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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