ECOWAS: Market for Pneumatic Linear Acting Actuators 2023

Market Size for Pneumatic Linear Acting Actuators in ECOWAS

In 2022, the ECOWAS pneumatic linear acting actuator market decreased by -8.8% to $X, falling for the third consecutive year after three years of growth. The total consumption indicated a tangible expansion from 2012 to 2022: its value increased at an average annual rate of +4.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by -11.1% against 2019 indices. The level of consumption peaked at $X in 2019; however, from 2020 to 2022, consumption stood at a somewhat lower figure.

Production of Pneumatic Linear Acting Actuators in ECOWAS

In value terms, pneumatic linear acting actuator production dropped to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +3.2% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2017 when the production volume increased by 24%. The level of production peaked at $X in 2018; however, from 2019 to 2022, production remained at a lower figure.

Exports of Pneumatic Linear Acting Actuators

Exports in ECOWAS

Pneumatic linear acting actuator exports rose sharply to X units in 2022, with an increase of 7% against 2021 figures. Overall, exports enjoyed a prominent expansion. The most prominent rate of growth was recorded in 2019 with an increase of 355% against the previous year. The volume of export peaked at X units in 2020; however, from 2021 to 2022, the exports stood at a somewhat lower figure.

In value terms, pneumatic linear acting actuator exports surged to $X in 2022. In general, exports continue to indicate a buoyant expansion. The pace of growth was the most pronounced in 2019 with an increase of 241%. The level of export peaked at $X in 2020; however, from 2021 to 2022, the exports failed to regain momentum.

Exports by Country

Ghana represented the major exporting country with an export of about X units, which amounted to 76% of total exports. Nigeria (X units) held an 11% share (based on physical terms) of total exports, which put it in second place, followed by Senegal (4.7%) and Cabo Verde (4.5%). Benin (X units) took a little share of total exports.

Exports from Ghana increased at an average annual rate of +10.0% from 2012 to 2022. At the same time, Senegal (+40.0%), Cabo Verde (+22.6%), Nigeria (+6.9%) and Benin (+3.0%) displayed positive paces of growth. Moreover, Senegal emerged as the fastest-growing exporter exported in ECOWAS, with a CAGR of +40.0% from 2012-2022. While the share of Ghana (+7.7 p.p.), Senegal (+4.3 p.p.) and Cabo Verde (+3.2 p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Benin (-2 p.p.) and Nigeria (-2.3 p.p.) displayed negative dynamics.

In value terms, Ghana ($X) remains the largest pneumatic linear acting actuator supplier in ECOWAS, comprising 76% of total exports. The second position in the ranking was held by Nigeria ($X), with a 13% share of total exports. It was followed by Cabo Verde, with a 4.9% share.

In Ghana, pneumatic linear acting actuator exports expanded at an average annual rate of +10.6% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Nigeria (+4.8% per year) and Cabo Verde (+23.6% per year).

Export Prices by Country

The export price in ECOWAS stood at $X per unit in 2022, surging by 21% against the previous year. In general, the export price, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 an increase of 72% against the previous year. Over the period under review, the export prices reached the peak figure at $X per unit in 2014; however, from 2015 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 Nigeria ($X per unit), while Benin ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Cabo Verde (+0.8%), while the other leaders experienced mixed trends in the export price figures.

Imports of Pneumatic Linear Acting Actuators

Imports in ECOWAS

In 2022, overseas purchases of pneumatic linear acting actuators decreased by -37.4% to X units for the first time since 2016, thus ending a five-year rising trend. Overall, imports, however, recorded significant growth. The pace of growth was the most pronounced in 2015 when imports increased by 131%. Over the period under review, imports attained the maximum at X units in 2021, and then contracted markedly in the following year.

In value terms, pneumatic linear acting actuator imports shrank dramatically to $X in 2022. Over the period under review, imports, however, recorded a strong increase. The most prominent rate of growth was recorded in 2015 when imports increased by 133%. The level of import peaked at $X in 2019; however, from 2020 to 2022, imports stood at a somewhat lower figure.

Imports by Country

Nigeria represented the key importer of pneumatic linear acting actuators in ECOWAS, with the volume of imports accounting for X units, which was near 68% of total imports in 2022. It was distantly followed by Ghana (X units), making up a 20% share of total imports. Cote d'Ivoire (X units), Guinea (X units) and Mali (X units) held a little share of total imports.

Imports into Nigeria increased at an average annual rate of +25.7% from 2012 to 2022. At the same time, Guinea (+39.4%), Cote d'Ivoire (+21.0%), Ghana (+17.1%) and Mali (+15.0%) displayed positive paces of growth. Moreover, Guinea emerged as the fastest-growing importer imported in ECOWAS, with a CAGR of +39.4% from 2012-2022. From 2012 to 2022, the share of Nigeria and Guinea increased by +14 and +2.4 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Nigeria ($X) constitutes the largest market for imported pneumatic linear acting actuators in ECOWAS, comprising 63% of total imports. The second position in the ranking was held by Ghana ($X), with a 15% share of total imports. It was followed by Cote d'Ivoire, with a 6.7% share.

In Nigeria, pneumatic linear acting actuator imports expanded at an average annual rate of +19.6% over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: Ghana (+4.9% per year) and Cote d'Ivoire (+8.6% per year).

Import Prices by Country

The import price in ECOWAS stood at $X per unit in 2022, growing by 13% against the previous year. Overall, the import price, however, showed a abrupt curtailment. Over the period under review, import prices reached the peak figure at $X per unit in 2016; however, from 2017 to 2022, import prices stood at a somewhat lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Mali (+0.8%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Market Intelligence Platform

Frequently Asked Questions (FAQ) :