ECOWAS: Wood Milling Machine Market 2024

Wood Milling Machine Market Size in ECOWAS

The ECOWAS wood milling machine market shrank to $X in 2022, which is down by X% against the previous year. Over the period under review, consumption saw a abrupt shrinkage. Over the period under review, the market reached the peak level at $X in 2012; however, from 2013 to 2022, consumption remained at a lower figure.

Wood Milling Machine Production in ECOWAS

In value terms, wood milling machine production shrank modestly to $X in 2022 estimated in export price. Over the period under review, production continues to indicate a deep contraction. The growth pace was the most rapid in 2018 when the production volume increased by X% against the previous year. The level of production peaked at $X in 2012; however, from 2013 to 2022, production failed to regain momentum.

Wood Milling Machine Exports

Exports in ECOWAS

In 2022, approx. X units of planing, milling or moulding machines were exported in ECOWAS; which is down by X% on 2021. In general, exports recorded a noticeable shrinkage. The most prominent rate of growth was recorded in 2018 with an increase of X% against the previous year. As a result, the exports reached the peak of X units. From 2019 to 2022, the growth of the exports failed to regain momentum.

In value terms, wood milling machine exports fell to $X in 2022. Over the period under review, exports, however, saw a buoyant expansion. The most prominent rate of growth was recorded in 2015 when exports increased by X% against the previous year. Over the period under review, the exports hit record highs at $X in 2021, and then dropped in the following year.

Exports by Country

Ghana (X units) and Nigeria (X units) were the main exporters of planing, milling or moulding machines in 2022, finishing at near X% and X% of total exports, respectively. Sierra Leone (X units) ranks next in terms of the total exports with an X% share, followed by Togo (X%). The following exporters - Guinea (X units) and Cote d'Ivoire (X units) - each reached a X% share of total exports.

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

In value terms, Ghana ($X), Sierra Leone ($X) and Nigeria ($X) appeared to be the countries with the highest levels of exports in 2022, with a combined X% share of total exports.

Among the main exporting countries, Ghana, with a CAGR of X%, recorded the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the export price in ECOWAS amounted to $X per unit, surging by X% against the previous year. In general, the export price posted resilient growth. The most prominent rate of growth was recorded in 2019 when the export price increased by X%. The level of export peaked in 2022 and is likely to continue growth in years to come.

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 Sierra Leone ($X per unit), while Cote d'Ivoire ($X per unit) was amongst the lowest.

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

Wood Milling Machine Imports

Imports in ECOWAS

In 2022, approx. X units of planing, milling or moulding machines were imported in ECOWAS; which is down by X% compared with 2021. Overall, imports, however, recorded a modest expansion. The pace of growth was the most pronounced in 2018 with an increase of X%. Over the period under review, imports attained the peak figure at X units in 2019; however, from 2020 to 2022, imports failed to regain momentum.

In value terms, wood milling machine imports reduced dramatically to $X in 2022. Over the period under review, imports continue to indicate a slight setback. The pace of growth was the most pronounced in 2019 with an increase of X% against the previous year. As a result, imports reached the peak of $X. From 2020 to 2022, the growth of imports remained at a somewhat lower figure.

Imports by Country

Ghana (X units) and Cote d'Ivoire (X units) were the major importers of planing, milling or moulding machines in 2022, accounting for near X% and X% of total imports, respectively. It was distantly followed by Nigeria (X units), achieving a X% share of total imports. Togo (X units), Senegal (X units), Benin (X units), Sierra Leone (X units), Cabo Verde (X units), Guinea (X units) and Burkina Faso (X units) held a minor share of total imports.

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

In value terms, Nigeria ($X), Ghana ($X) and Cote d'Ivoire ($X) were the countries with the highest levels of imports in 2022, together comprising X% of total imports. Cabo Verde, Sierra Leone, Guinea, Benin, Senegal, Togo and Burkina Faso lagged somewhat behind, together accounting for a further X%.

Benin, 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, dropping by X% against the previous year. Over the period under review, the import price recorded a noticeable decline. The most prominent rate of growth was recorded in 2014 an increase of X% against the previous year. As a result, import price attained the peak level of $X per unit. From 2015 to 2022, the import prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Cabo Verde ($X per unit), while Togo ($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.

Source: IndexBox Platform

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