ECOWAS: Market for Indicator Panels Incorporating Liquid Crystal Devices (LCD) Or Light Emitting Diodes (LCD) 2024

Market Size for Indicator Panels Incorporating Liquid Crystal Devices (LCD) Or Light Emitting Diodes (LCD) in ECOWAS

The ECOWAS market for indicator panels incorporating liquid crystal devices (LCD) or light emitting diodes (LCD) stood at $X in 2022, rising by X% against the previous year. The market value increased at an average annual rate of X% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, consumption attained the peak level of $X. From 2016 to 2022, the growth of the market failed to regain momentum.

Production of Indicator Panels Incorporating Liquid Crystal Devices (LCD) Or Light Emitting Diodes (LCD) in ECOWAS

In value terms, LCD or LED indicator panel production expanded to $X in 2022 estimated in export price. The total output value increased at an average annual rate of X% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2015 with an increase of X% against the previous year. As a result, production reached the peak level of $X. From 2016 to 2022, production growth remained at a somewhat lower figure.

Exports of Indicator Panels Incorporating Liquid Crystal Devices (LCD) Or Light Emitting Diodes (LCD)

Exports in ECOWAS

In 2022, overseas shipments of indicator panels incorporating liquid crystal devices (LCD) or light emitting diodes (LCD) were finally on the rise to reach X units after two years of decline. Overall, exports, however, continue to indicate a sharp slump. The volume of export peaked at X units in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

In value terms, LCD or LED indicator panel exports soared to $X in 2022. Over the period under review, exports, however, showed a abrupt curtailment. The pace of growth was the most pronounced in 2019 with an increase of X% against the previous year. The level of export peaked at $X in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

Exports by Country

Cote d'Ivoire was the major exporter of indicator panels incorporating liquid crystal devices (LCD) or light emitting diodes (LCD) in ECOWAS, with the volume of exports finishing at X units, which was approx. X% of total exports in 2022. Ghana (X units) held a X% share (based on physical terms) of total exports, which put it in second place, followed by Burkina Faso (X%) and Senegal (X%). Sierra Leone (X units) followed a long way behind the leaders.

Cote d'Ivoire was also the fastest-growing in terms of the indicator panels incorporating liquid crystal devices (LCD) or light emitting diodes (LCD) exports, with a CAGR of X% from 2012 to 2022. Sierra Leone (X%), Ghana (X%), Senegal (X%) and Burkina Faso (X%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Cote d'Ivoire, Ghana, Senegal and Sierra Leone increased by X, X, X and X percentage points, respectively.

In value terms, Burkina Faso ($X) remains the largest LCD or LED indicator panel supplier in ECOWAS, comprising X% of total exports. The second position in the ranking was held by Ghana ($X), with a X% share of total exports. It was followed by Senegal, with a X% share.

From 2012 to 2022, the average annual growth rate of value in Burkina Faso totaled X%. The remaining exporting countries recorded the following average annual rates of exports growth: Ghana (X% per year) and Senegal (X% per year).

Export Prices by Country

The export price in ECOWAS stood at $X per unit in 2022, shrinking by X% against the previous year. Over the period under review, the export price, however, enjoyed a significant increase. The growth pace was the most rapid in 2015 when the export price increased by X% against the previous year. Over the period under review, the export prices reached the peak figure at $X per unit in 2021, and then contracted rapidly 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 ($X per unit), while Cote d'Ivoire ($X per unit) was amongst the lowest.

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

Imports of Indicator Panels Incorporating Liquid Crystal Devices (LCD) Or Light Emitting Diodes (LCD)

Imports in ECOWAS

In 2022, purchases abroad of indicator panels incorporating liquid crystal devices (LCD) or light emitting diodes (LCD) decreased by X% to X units, falling for the second consecutive year after four years of growth. Over the period under review, imports, however, posted a strong increase. The growth pace was the most rapid in 2020 when imports increased by X% against the previous year. As a result, imports attained the peak of X units. From 2021 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, LCD or LED indicator panel imports shrank sharply to $X in 2022. In general, imports, however, continue to indicate strong growth. The most prominent rate of growth was recorded in 2014 with an increase of X%. As a result, imports reached the peak of $X. From 2015 to 2022, the growth of imports failed to regain momentum.

Imports by Country

In 2022, Nigeria (X units) represented the main importer of indicator panels incorporating liquid crystal devices (LCD) or light emitting diodes (LCD), committing X% of total imports. It was distantly followed by Cote d'Ivoire (X units), Togo (X units), Senegal (X units) and Burkina Faso (X units), together creating a X% share of total imports. Mali (X units) took a minor share of total imports.

Imports into Nigeria increased at an average annual rate of X% from 2012 to 2022. At the same time, Burkina Faso (X%), Mali (X%), Cote d'Ivoire (X%) and Togo (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, Senegal (X%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Nigeria, Burkina Faso, Cote d'Ivoire, Togo and Mali increased by X, X, X, X and X percentage points, respectively.

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

Togo, 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

In 2022, the import price in ECOWAS amounted to $X per unit, approximately equating the previous year. In general, the import price, however, continues to indicate a abrupt decline. The pace of growth appeared the most rapid in 2016 an increase of X%. As a result, import price attained the peak level of $X per unit. From 2017 to 2022, the import prices remained 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 Mali ($X per unit), while Burkina Faso ($X per unit) was amongst the lowest.

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

Source: IndexBox Platform

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