ECOWAS: Market for In-Hand Motor Grinders, Sanders And Planers 2024

Market Size for In-Hand Motor Grinders, Sanders And Planers in ECOWAS

The ECOWAS market for in-hand motor grinders, sanders and planers rose rapidly to $X in 2021, picking up by 10% against the previous year. Overall, consumption posted a prominent expansion. Over the period under review, the market hit record highs in 2021 and is expected to retain growth in the immediate term.

Production of In-Hand Motor Grinders, Sanders And Planers in ECOWAS

In value terms, production of in-hand motor grinders, sanders and planers totaled $X in 2021 estimated in export price. Overall, production continues to indicate a pronounced decline. The pace of growth was the most pronounced in 2015 when the production volume increased by 4.8% against the previous year. As a result, production reached the peak level of $X. From 2016 to 2021, production of growth remained at a somewhat lower figure.

Exports of In-Hand Motor Grinders, Sanders And Planers

Exports in ECOWAS

In 2021, after two years of growth, there was significant decline in shipments abroad of in-hand motor grinders, sanders and planers, when their volume decreased by -21.2% to X units. Overall, exports showed a perceptible decrease. The pace of growth was the most pronounced in 2019 when exports increased by 45% against the previous year. The volume of export peaked at X units in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

In value terms, exports of in-hand motor grinders, sanders and planers fell to $X in 2021. In general, exports, however, posted a modest increase. The pace of growth was the most pronounced in 2019 with an increase of 40%. Over the period under review, the exports of hit record highs at $X in 2020, and then contracted slightly in the following year.

Exports by Country

Cabo Verde was the largest exporting country with an export of around X units, which resulted at 48% of total exports. Ghana (X units) held a 21% share (based on physical terms) of total exports, which put it in second place, followed by Benin (11%) and Liberia (10%). Sierra Leone (X units) and Togo (X units) took a relatively small share of total exports.

Cabo Verde was also the fastest-growing in terms of the in-hand motor grinders, sanders and planers exports, with a CAGR of +41.3% from 2012 to 2021. At the same time, Ghana (+12.4%) and Liberia (+1.1%) displayed positive paces of growth. Benin experienced a relatively flat trend pattern. By contrast, Togo (-15.4%) and Sierra Leone (-27.5%) illustrated a downward trend over the same period. Cabo Verde (+46 p.p.), Ghana (+16 p.p.), Benin (+3.7 p.p.) and Liberia (+3.6 p.p.) significantly strengthened its position in terms of the total exports, while Togo and Sierra Leone saw its share reduced by -4.4% and -29.3% from 2012 to 2021, respectively.

In value terms, Cabo Verde ($X) remains the largest electromechanical tools for working in the hand, with self-contained electric motor supplier in ECOWAS, comprising 67% of total exports. The second position in the ranking was taken by Ghana ($X), with a 17% share of total exports. It was followed by Benin, with a 7.4% share.

In Cabo Verde, exports of in-hand motor grinders, sanders and planers increased at an average annual rate of +55.6% over the period from 2012-2021. The remaining exporting countries recorded the following average annual rates of exports growth: Ghana (+6.4% per year) and Benin (+3.2% per year).

Export Prices by Country

In 2021, the export price in ECOWAS amounted to $X per unit, with an increase of 22% against the previous year. Export price indicated a strong expansion from 2012 to 2021: its price increased at an average annual rate of +6.0% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, export price for in-hand motor grinders, sanders and planers increased by +70.1% against 2017 indices. The pace of growth was the most pronounced in 2018 when the export price increased by 36%. Over the period under review, the export prices reached the maximum in 2021 and is likely to see gradual growth in the immediate term.

There were significant differences in the average prices amongst the major exporting countries. In 2021, the country with the highest price was Cabo Verde ($X per unit), while Liberia ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Cabo Verde (+10.2%), while the other leaders experienced more modest paces of growth.

Imports of In-Hand Motor Grinders, Sanders And Planers

Imports in ECOWAS

In 2021, purchases abroad of in-hand motor grinders, sanders and planers increased by 18% to X units, rising for the seventh year in a row after two years of decline. In general, imports posted a prominent expansion. The pace of growth appeared the most rapid in 2017 when imports increased by 61% against the previous year. Over the period under review, imports of attained the peak figure in 2021 and are expected to retain growth in the near future.

In value terms, imports of in-hand motor grinders, sanders and planers rose significantly to $X in 2021. Overall, imports saw a prominent increase. The most prominent rate of growth was recorded in 2017 when imports increased by 67%. Over the period under review, imports of attained the peak figure in 2021 and are expected to retain growth in the immediate term.

Imports by Country

In 2021, Ghana (X units) was the largest importer of in-hand motor grinders, sanders and planers, comprising 39% of total imports. Guinea (X units) held the second position in the ranking, followed by Nigeria (X units), Cote d'Ivoire (X units) and Mali (X units). All these countries together held near 51% share of total imports. The following importers - Liberia (X units) and Senegal (X units) - together made up 4.6% of total imports.

Imports into Ghana increased at an average annual rate of +29.8% from 2012 to 2021. At the same time, Mali (+44.3%), Guinea (+33.2%), Cote d'Ivoire (+27.7%), Liberia (+22.3%) and Senegal (+7.5%) displayed positive paces of growth. Moreover, Mali emerged as the fastest-growing importer imported in ECOWAS, with a CAGR of +44.3% from 2012-2021. By contrast, Nigeria (-4.8%) illustrated a downward trend over the same period. While the share of Ghana (+29 p.p.), Guinea (+14 p.p.), Cote d'Ivoire (+7.1 p.p.), Mali (+5.1 p.p.) and Liberia (+1.6 p.p.) increased significantly in terms of the total imports from 2012-2021, the share of Nigeria (-56.8 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest electromechanical tools for working in the hand, with self-contained electric motor importing markets in ECOWAS were Nigeria ($X), Ghana ($X) and Cote d'Ivoire ($X), with a combined 70% share of total imports. These countries were followed by Guinea, Mali, Senegal and Liberia, which together accounted for a further 24%.

Among the main importing countries, Mali, with a CAGR of +36.5%, 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 2021, the import price in ECOWAS amounted to $X per unit, with a decrease of -7.7% against the previous year. Over the period under review, the import price saw a abrupt slump. The most prominent rate of growth was recorded in 2017 when the import price increased by 4%. The level of import peaked at $X per unit in 2013; however, from 2014 to 2021, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2021, the country with the highest price was Senegal ($X per unit), while Ghana ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Guinea (+2.0%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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