ECOWAS: Market for Machine-Tools For Working Stone, Ceramics, And Concrete 2024

Market Size for Machine-Tools For Working Stone, Ceramics, And Concrete in ECOWAS

The ECOWAS market for machine-tools for working stone, ceramics, and concrete dropped slightly to $X in 2022, declining by X% against the previous year. Over the period under review, consumption faced a deep setback. As a result, consumption reached the peak level of $X. From 2015 to 2022, the growth of the market remained at a lower figure.

Production of Machine-Tools For Working Stone, Ceramics, And Concrete in ECOWAS

In value terms, machine tools for working stone production declined modestly to $X in 2022 estimated in export price. Overall, production saw a abrupt decrease. The pace of growth was the most pronounced in 2014 when the production volume increased by X% against the previous year. As a result, production attained the peak level of $X. From 2015 to 2022, production growth failed to regain momentum.

Exports of Machine-Tools For Working Stone, Ceramics, And Concrete

Exports in ECOWAS

In 2022, the amount of machine-tools for working stone, ceramics, and concrete exported in ECOWAS surged to X units, picking up by X% compared with the previous year. Over the period under review, exports saw a strong increase. The pace of growth appeared the most rapid in 2016 with an increase of X% against the previous year. As a result, the exports reached the peak of X units. From 2017 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, machine tools for working stone exports fell markedly to $X in 2022. In general, exports recorded a strong increase. The pace of growth was the most pronounced in 2013 with an increase of X%. As a result, the exports reached the peak of $X. From 2014 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

Senegal dominates exports structure, recording X units, which was near X% of total exports in 2022. It was distantly followed by Cote d'Ivoire (X units), comprising a X% share of total exports. Ghana (X units) followed a long way behind the leaders.

From 2012 to 2022, average annual rates of growth with regard to machine tools for working stone exports from Senegal stood at X%. At the same time, Cote d'Ivoire (X%) displayed positive paces of growth. Moreover, Cote d'Ivoire emerged as the fastest-growing exporter exported in ECOWAS, with a CAGR of X% from 2012-2022. Ghana experienced a relatively flat trend pattern. While the share of Senegal (X p.p.) and Cote d'Ivoire (X p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Ghana (X p.p.) displayed negative dynamics.

In value terms, Senegal ($X) emerged as the largest machine tools for working stone supplier in ECOWAS, comprising X% of total exports. The second position in the ranking was taken by Cote d'Ivoire ($X), with a X% share of total exports.

In Senegal, machine tools for working stone exports shrank by an average annual rate of X% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Cote d'Ivoire (X% per year) and Ghana (X% per year).

Export Prices by Country

In 2022, the export price in ECOWAS amounted to $X per unit, shrinking by X% against the previous year. Overall, the export price saw a mild downturn. The growth pace was the most rapid in 2017 when the export price increased by X% against the previous year. The level of export peaked at $X per unit in 2013; however, from 2014 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 ($X per unit), while Senegal ($X per unit) was amongst the lowest.

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

Imports of Machine-Tools For Working Stone, Ceramics, And Concrete

Imports in ECOWAS

In 2022, overseas purchases of machine-tools for working stone, ceramics, and concrete decreased by X% to X units, falling for the third consecutive year after two years of growth. Overall, imports, however, saw a significant expansion. The most prominent rate of growth was recorded in 2014 when imports increased by X%. As a result, imports attained the peak of X units. From 2015 to 2022, the growth of imports remained at a lower figure.

In value terms, machine tools for working stone imports amounted to $X in 2022. Over the period under review, imports, however, posted a buoyant expansion. The most prominent rate of growth was recorded in 2014 when imports increased by X% against the previous year. 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 key importer of machine-tools for working stone, ceramics, and concrete in ECOWAS, committing X% of total import.

Nigeria was also the fastest-growing in terms of the machine-tools for working stone, ceramics, and concrete imports, with a CAGR of X% from 2012 to 2022. While the share of Nigeria (X p.p.) increased significantly, the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Nigeria ($X) constitutes the largest market for imported machine-tools for working stone, ceramics, and concrete in ECOWAS.

From 2012 to 2022, the average annual growth rate of value in Nigeria amounted to X%.

Import Prices by Country

In 2022, the import price in ECOWAS amounted to $X per unit, jumping by X% against the previous year. Over the period under review, the import price, however, showed a drastic downturn. The pace of growth appeared the most rapid in 2016 an increase of X%. Over the period under review, import prices hit record highs at $X per unit in 2012; however, from 2013 to 2022, import prices remained at a lower figure.

As there is only one major supplying country, the average price level is determined by prices for Nigeria.

From 2012 to 2022, the rate of growth in terms of prices for Nigeria amounted to X% per year.

Source: IndexBox Platform

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