ECOWAS: Ignition Magneto Market 2024

Ignition Magneto Market Size in ECOWAS

In 2022, the ECOWAS ignition magneto market increased by X% to $X, rising for the second year in a row after three years of decline. Over the period under review, consumption continues to indicate a mild decline. As a result, consumption reached the peak level of $X. From 2018 to 2022, the growth of the market remained at a lower figure.

Ignition Magneto Production in ECOWAS

In value terms, ignition magneto production dropped to $X in 2022 estimated in export price. Overall, production recorded a noticeable contraction. The most prominent rate of growth was recorded in 2017 when the production volume increased by X% against the previous year. As a result, production reached the peak level of $X. From 2018 to 2022, production growth remained at a somewhat lower figure.

Ignition Magneto Exports

Exports in ECOWAS

In 2022, overseas shipments of ignition magnetos, magneto-dynamos and magnetic flywheels increased by X% to X units, rising for the second year in a row after two years of decline. Over the period under review, exports, however, saw a abrupt decline. The pace of growth was the most pronounced in 2018 when exports increased by X% against the previous year. Over the period under review, the exports attained the peak figure at X units in 2013; however, from 2014 to 2022, the exports stood at a somewhat lower figure.

In value terms, ignition magneto exports shrank to $X in 2022. In general, exports, however, recorded a noticeable decline. The pace of growth was the most pronounced in 2021 when exports increased by X%. Over the period under review, the exports hit record highs at $X in 2018; however, from 2019 to 2022, the exports remained at a lower figure.

Exports by Country

Cote d'Ivoire prevails in exports structure, accounting for X units, which was near X% of total exports in 2022. Burkina Faso (X units) followed a long way behind the leaders.

Cote d'Ivoire was also the fastest-growing in terms of the ignition magnetos, magneto-dynamos and magnetic flywheels exports, with a CAGR of X% from 2012 to 2022. Burkina Faso (X%) illustrated a downward trend over the same period. Cote d'Ivoire (X p.p.) and Burkina Faso (X p.p.) significantly strengthened its position in terms of the total exports, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest ignition magneto supplying countries in ECOWAS were Cote d'Ivoire ($X) and Burkina Faso ($X).

Among the main exporting countries, Cote d'Ivoire, with a CAGR of X%, saw the highest rates of growth with regard to the value of exports, over the period under review.

Export Prices by Country

The export price in ECOWAS stood at $X per unit in 2022, reducing by X% against the previous year. Over the period under review, the export price, however, saw strong growth. The most prominent rate of growth was recorded in 2021 an increase of X% against the previous year. As a result, the export price attained the peak level of $X per unit, and then dropped sharply 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 Burkina Faso ($X per unit), while Cote d'Ivoire totaled $X per unit.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Cote d'Ivoire (X%).

Ignition Magneto Imports

Imports in ECOWAS

In 2022, the amount of ignition magnetos, magneto-dynamos and magnetic flywheels imported in ECOWAS skyrocketed to X units, jumping by X% compared with 2021 figures. In general, imports recorded buoyant growth. The growth pace was the most rapid in 2013 with an increase of X%. As a result, imports attained the peak of X units. From 2014 to 2022, the growth of imports remained at a lower figure.

In value terms, ignition magneto imports dropped to $X in 2022. Over the period under review, imports showed prominent growth. The most prominent rate of growth was recorded in 2020 with an increase of X% against the previous year. The level of import peaked at $X in 2021, and then contracted in the following year.

Imports by Country

In 2022, Senegal (X units), distantly followed by Ghana (X units), Sierra Leone (X units), Nigeria (X units), Cote d'Ivoire (X units) and Guinea (X units) represented the major importers of ignition magnetos, magneto-dynamos and magnetic flywheels, together generating X% of total imports.

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

In value terms, Ghana ($X) constitutes the largest market for imported ignition magnetos, magneto-dynamos and magnetic flywheels in ECOWAS, comprising X% of total imports. The second position in the ranking was taken by Sierra Leone ($X), with a X% share of total imports. It was followed by Guinea, with a X% share.

From 2012 to 2022, the average annual growth rate of value in Ghana stood at X%. The remaining importing countries recorded the following average annual rates of imports growth: Sierra Leone (X% per year) and Guinea (X% per year).

Import Prices by Country

The import price in ECOWAS stood at $X per unit in 2022, which is down by X% against the previous year. Over the period under review, the import price, however, enjoyed a measured expansion. The growth pace was the most rapid in 2019 when the import price increased by X%. The level of import peaked at $X per unit in 2021, and then fell sharply in the following year.

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 ($X per unit), while Senegal ($X per unit) 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 more modest paces of growth.

Source: IndexBox Platform

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