ECOWAS: Market for Iron Or Steel Bridges And Bridge-Sections 2024

Market Size for Iron Or Steel Bridges And Bridge-Sections in ECOWAS

The ECOWAS iron or steel bridges market was finally on the rise to reach $X in 2023, after two years of decline. Over the period under review, consumption showed buoyant growth. As a result, consumption reached the peak level of $X. From 2015 to 2023, the growth of the market failed to regain momentum.

Production of Iron Or Steel Bridges And Bridge-Sections in ECOWAS

In value terms, iron or steel bridges production dropped to $X in 2023 estimated in export price. In general, production, however, enjoyed a buoyant increase. The growth pace was the most rapid in 2014 with an increase of X% against the previous year. Over the period under review, production hit record highs at $X in 2020; however, from 2021 to 2023, production failed to regain momentum.

Exports of Iron Or Steel Bridges And Bridge-Sections

Exports in ECOWAS

In 2023, shipments abroad of iron or steel bridges and bridge-sections was finally on the rise to reach X tons after three years of decline. In general, exports, however, recorded a abrupt contraction. Over the period under review, the exports hit record highs at X tons in 2015; however, from 2016 to 2023, the exports remained at a lower figure.

In value terms, iron or steel bridges exports soared to $X in 2023. Overall, exports, however, continue to indicate a abrupt decrease. The level of export peaked at $X in 2012; however, from 2013 to 2023, the exports failed to regain momentum.

Exports by Country

In 2023, Benin (X tons) was the main exporter of iron or steel bridges and bridge-sections, committing X% of total exports. It was distantly followed by Senegal (X tons), creating a X% share of total exports.

Exports from Benin increased at an average annual rate of X% from 2012 to 2023. At the same time, Senegal (X%) displayed positive paces of growth. Moreover, Senegal emerged as the fastest-growing exporter exported in ECOWAS, with a CAGR of X% from 2012-2023. Benin (X p.p.) and Senegal (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, Benin ($X) emerged as the largest iron or steel bridges supplier in ECOWAS, comprising X% of total exports. The second position in the ranking was held by Senegal ($X), with a X% share of total exports.

In Benin, iron or steel bridges exports increased at an average annual rate of X% over the period from 2012-2023.

Export Prices by Country

The export price in ECOWAS stood at $X per ton in 2023, surging by X% against the previous year. Overall, the export price showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2016 when the export price increased by X% against the previous year. The level of export peaked at $X per ton in 2018; however, from 2019 to 2023, the export prices stood at a somewhat lower figure.

Average prices varied noticeably amongst the major exporting countries. In 2023, amid the top suppliers, the country with the highest price was Benin ($X per ton), while Senegal stood at $X per ton.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Benin (X%).

Imports of Iron Or Steel Bridges And Bridge-Sections

Imports in ECOWAS

Iron or steel bridges imports skyrocketed to X tons in 2023, with an increase of X% compared with 2022. In general, imports saw temperate growth. The growth pace was the most rapid in 2014 when imports increased by X%. As a result, imports attained the peak of X tons. From 2015 to 2023, the growth of imports failed to regain momentum.

In value terms, iron or steel bridges imports expanded markedly to $X in 2023. Overall, imports posted a buoyant expansion. The growth pace was the most rapid in 2014 with an increase of X% against the previous year. As a result, imports reached the peak of $X. From 2015 to 2023, the growth of imports remained at a somewhat lower figure.

Imports by Country

The purchases of the five major importers of iron or steel bridges and bridge-sections, namely Nigeria, Guinea, Ghana, Senegal and Mali, represented more than two-thirds of total import. Cote d'Ivoire (X tons) followed a long way behind the leaders.

From 2012 to 2023, the biggest increases were recorded for Senegal (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Ghana ($X) constitutes the largest market for imported iron or steel bridges and bridge-sections in ECOWAS, comprising X% of total imports. The second position in the ranking was held by Guinea ($X), with a X% share of total imports. It was followed by Nigeria, with a X% share.

In Ghana, iron or steel bridges imports expanded at an average annual rate of X% over the period from 2012-2023. In the other countries, the average annual rates were as follows: Guinea (X% per year) and Nigeria (X% per year).

Import Prices by Country

The import price in ECOWAS stood at $X per ton in 2023, with a decrease of X% against the previous year. Import price indicated a notable expansion from 2012 to 2023: its price increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, iron or steel bridges import price increased by X% against 2019 indices. 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 2023, 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 Ghana ($X per ton), while Nigeria ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Cote d'Ivoire (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform