ECOWAS: Loading Machinery Market 2024

Loading Machinery Market Size in ECOWAS

The ECOWAS loading machinery market expanded slightly to $X in 2022, surging by X% against the previous year. Over the period under review, consumption, however, saw a buoyant expansion. The level of consumption peaked at $X in 2020; however, from 2021 to 2022, consumption remained at a lower figure.

Loading Machinery Production in ECOWAS

In value terms, loading machinery production expanded slightly to $X in 2022 estimated in export price. Overall, production, however, saw a buoyant increase. The pace of growth was the most pronounced in 2016 with an increase of X% against the previous year. Over the period under review, production attained the peak level at $X in 2020; however, from 2021 to 2022, production remained at a lower figure.

Loading Machinery Exports

Exports in ECOWAS

In 2022, exports of lifting, handling, loading or unloading machinery in ECOWAS reduced markedly to X units, falling by X% compared with the year before. Over the period under review, exports, however, continue to indicate notable growth. The pace of growth appeared the most rapid in 2013 with an increase of X%. Over the period under review, the exports reached the peak figure at X units in 2016; however, from 2017 to 2022, the exports remained at a lower figure.

In value terms, loading machinery exports dropped significantly to $X in 2022. In general, exports, however, posted mild growth. The pace of growth was the most pronounced in 2019 with an increase of X% against the previous year. As a result, the exports reached the peak of $X. From 2020 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

Togo (X units) and Cote d'Ivoire (X units) represented roughly X% of total exports in 2022. Burkina Faso (X units) ranks next in terms of the total exports with a X% share, followed by Ghana (X%), Senegal (X%) and Sierra Leone (X%). Benin (X units) held a minor share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the leading exporting countries, was attained by Senegal (with a CAGR of X%), while the other leaders experienced more modest paces of growth.

In value terms, Cote d'Ivoire ($X) emerged as the largest loading machinery supplier in ECOWAS, comprising X% of total exports. The second position in the ranking was held by Ghana ($X), with a X% share of total exports. It was followed by Burkina Faso, with an X% share.

From 2012 to 2022, the average annual growth rate of value in Cote d'Ivoire totaled X%. In the other countries, the average annual rates were as follows: Ghana (X% per year) and Burkina Faso (X% per year).

Export Prices by Country

In 2022, the export price in ECOWAS amounted to $X per unit, with a decrease of X% against the previous year. Over the period under review, the export price continues to indicate a pronounced decrease. The most prominent rate of growth was recorded in 2019 an increase of X% against the previous year. As a result, the export price attained the peak level of $X per unit. From 2020 to 2022, the export prices failed to regain momentum.

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

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

Loading Machinery Imports

Imports in ECOWAS

In 2022, supplies from abroad of lifting, handling, loading or unloading machinery was finally on the rise to reach X units after two years of decline. Over the period under review, imports enjoyed notable growth. The most prominent rate of growth was recorded in 2019 when imports increased by X% against the previous year. As a result, imports attained the peak of X units. From 2020 to 2022, the growth of imports failed to regain momentum.

In value terms, loading machinery imports surged to $X in 2022. Overall, imports enjoyed measured growth. The pace of growth was the most pronounced in 2019 with an increase of X% against the previous year. As a result, imports attained the peak of $X. From 2020 to 2022, the growth of imports remained at a lower figure.

Imports by Country

Nigeria (X units) and Senegal (X units) represented roughly X% of total imports in 2022. It was distantly followed by Cote d'Ivoire (X units), Ghana (X units) and Niger (X units), together making up a X% share of total imports. Burkina Faso (X units), Guinea (X units) and Benin (X units) took a relatively small share of total imports.

From 2012 to 2022, 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, Nigeria ($X), Senegal ($X) and Cote d'Ivoire ($X) appeared to be the countries with the highest levels of imports in 2022, with a combined X% share of total imports.

Among the main importing countries, Senegal, with a CAGR of X%, saw the highest growth rate of 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 2022, the import price in ECOWAS amounted to $X per unit, picking up by X% against the previous year. Overall, the import price, however, showed a slight decline. The growth pace was the most rapid in 2019 an increase of X% against the previous year. As a result, import price attained the peak level of $X per unit. From 2020 to 2022, the import prices remained at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Guinea ($X per unit), while Burkina Faso ($X per unit) was amongst the lowest.

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

Source: IndexBox Platform

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