ECOWAS: Mounting Lifting Equipment Market 2024

Mounting Lifting Equipment Market Size in ECOWAS

The ECOWAS mounting lifting equipment market rose rapidly to $X in 2022, growing by X% against the previous year. In general, consumption showed a resilient expansion. Over the period under review, the market hit record highs at $X in 2020; however, from 2021 to 2022, consumption remained at a lower figure.

Mounting Lifting Equipment Production in ECOWAS

In value terms, mounting lifting equipment production rose notably to $X in 2022 estimated in export price. Over the period under review, production saw resilient growth. The pace of growth was the most pronounced in 2017 when the production volume increased by X%. Over the period under review, production attained the maximum level at $X in 2020; however, from 2021 to 2022, production failed to regain momentum.

Mounting Lifting Equipment Exports

Exports in ECOWAS

After two years of growth, shipments abroad of lifting equipment designed for mounting on road vehicles decreased by X% to X units in 2022. In general, exports, however, showed significant growth. The most prominent rate of growth was recorded in 2016 with an increase of X%. Over the period under review, the exports hit record highs at X units in 2021, and then declined remarkably in the following year.

In value terms, mounting lifting equipment exports fell notably to $X in 2022. Overall, exports, however, recorded a significant expansion. The pace of growth was the most pronounced in 2016 when exports increased by X% against the previous year. The level of export peaked at $X in 2021, and then shrank significantly in the following year.

Exports by Country

Cote d'Ivoire was the major exporting country with an export of around X units, which resulted at X% of total exports. It was distantly followed by Togo (X units), committing an X% share of total exports. The following exporters - Niger (X units) and Sierra Leone (X units) - each resulted at a X% share of total exports.

Cote d'Ivoire was also the fastest-growing in terms of the lifting equipment designed for mounting on road vehicles exports, with a CAGR of X% from 2012 to 2022. At the same time, Togo (X%) displayed positive paces of growth. Sierra Leone experienced a relatively flat trend pattern. By contrast, Niger (X%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Cote d'Ivoire, Niger and Sierra Leone increased by X, X and X percentage points, respectively.

In value terms, Cote d'Ivoire ($X) emerged as the largest mounting lifting equipment supplier in ECOWAS, comprising X% of total exports. The second position in the ranking was held by Togo ($X), with a X% share of total exports. It was followed by Sierra Leone, with a X% share.

From 2012 to 2022, the average annual growth rate of value in Cote d'Ivoire stood at X%. The remaining exporting countries recorded the following average annual rates of exports growth: Togo (X% per year) and Sierra Leone (X% per year).

Export Prices by Country

In 2022, the export price in ECOWAS amounted to $X per unit, falling by X% against the previous year. Overall, the export price, however, continues to indicate a significant increase. The most prominent rate of growth was recorded in 2016 an increase of X% against the previous year. The level of export peaked at $X per unit in 2021, and then declined in the following year.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Togo ($X per unit), while Niger ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Niger (X%), while the other leaders experienced more modest paces of growth.

Mounting Lifting Equipment Imports

Imports in ECOWAS

In 2022, the amount of lifting equipment designed for mounting on road vehicles imported in ECOWAS declined to X units, waning by X% on the previous year. Over the period under review, imports showed a noticeable decline. The growth pace was the most rapid in 2021 when imports increased by X% against the previous year. Over the period under review, imports hit record highs at X units in 2012; however, from 2013 to 2022, imports remained at a lower figure.

In value terms, mounting lifting equipment imports shrank significantly to $X in 2022. Overall, imports continue to indicate a abrupt decrease. The most prominent rate of growth was recorded in 2014 when imports increased by X% against the previous year. The level of import peaked at $X in 2012; however, from 2013 to 2022, imports remained at a lower figure.

Imports by Country

Ghana was the largest importer of lifting equipment designed for mounting on road vehicles in ECOWAS, with the volume of imports resulting at X units, which was near X% of total imports in 2022. It was distantly followed by Cabo Verde (X units), Nigeria (X units), Senegal (X units), Cote d'Ivoire (X units) and Guinea (X units), together making up a X% share of total imports. Benin (X units) followed a long way behind the leaders.

From 2012 to 2022, average annual rates of growth with regard to mounting lifting equipment imports into Ghana stood at X%. At the same time, Benin (X%) and Senegal (X%) displayed positive paces of growth. Moreover, Benin emerged as the fastest-growing importer imported in ECOWAS, with a CAGR of X% from 2012-2022. Cote d'Ivoire experienced a relatively flat trend pattern. By contrast, Guinea (X%), Cabo Verde (X%) and Nigeria (X%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Ghana, Senegal, Benin and Cote d'Ivoire increased by X, X, X and X percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Ghana ($X), Nigeria ($X) and Senegal ($X) constituted the countries with the highest levels of imports in 2022, with a combined X% share of total imports.

Senegal, with a CAGR of X%, saw the highest growth rate of the value of imports, among 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, declining by X% against the previous year. In general, the import price continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2018 when the import price increased by X%. Over the period under review, import prices hit record highs at $X per unit in 2021, and then contracted remarkably 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 Cote d'Ivoire ($X per unit), while Cabo Verde ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Senegal (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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