ECOWAS: Non-Electric Pulley Tackle Market 2024

Non-Electric Pulley Tackle Market Size in ECOWAS

In 2022, the ECOWAS non-electric pulley tackle market decreased by X% to $X, falling for the third consecutive year after two years of growth. Overall, consumption, however, showed a resilient increase. Over the period under review, the market reached the maximum level at $X in 2019; however, from 2020 to 2022, consumption stood at a somewhat lower figure.

Non-Electric Pulley Tackle Production in ECOWAS

In value terms, non-electric pulley tackle production rose significantly to $X in 2022 estimated in export price. Over the period under review, production recorded a temperate expansion. The pace of growth appeared the most rapid in 2015 when the production volume increased by X%. As a result, production reached the peak level of $X. From 2016 to 2022, production growth remained at a somewhat lower figure.

Non-Electric Pulley Tackle Exports

Exports in ECOWAS

In 2022, approx. X units of pulley tackle and hoists, non-powered by electric motor were exported in ECOWAS; increasing by X% compared with 2021. Overall, exports recorded moderate growth. The most prominent rate of growth was recorded in 2020 when exports increased by X%. Over the period under review, the exports hit record highs in 2022 and are likely to see gradual growth in the immediate term.

In value terms, non-electric pulley tackle exports skyrocketed to $X in 2022. Over the period under review, exports, however, showed a abrupt slump. The pace of growth was the most pronounced in 2014 when exports increased by X% against the previous year. As a result, the exports attained the peak of $X. From 2015 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

Ghana dominates exports structure, finishing at X units, which was approx. X% of total exports in 2022. Benin (X units) held a X% share (based on physical terms) of total exports, which put it in second place, followed by Senegal (X%).

From 2012 to 2022, average annual rates of growth with regard to non-electric pulley tackle exports from 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 exporter exported in ECOWAS, with a CAGR of X% from 2012-2022. Benin (X p.p.) and Senegal (X p.p.) significantly strengthened its position in terms of the total exports, while Ghana saw its share reduced by X% from 2012 to 2022, respectively.

In value terms, Senegal ($X), Ghana ($X) and Benin ($X) appeared to be the countries with the highest levels of exports in 2022, together comprising X% of total exports.

Senegal, with a CAGR of X%, recorded the highest growth rate of the value of exports, in terms of the main exporting countries over the period under review, while shipments for the other leaders experienced mixed trends in the exports figures.

Export Prices by Country

In 2022, the export price in ECOWAS amounted to $X per unit, dropping by X% against the previous year. Overall, the export price showed a deep reduction. The pace of growth appeared the most rapid in 2014 when the export price increased by X%. As a result, the export price attained the peak level of $X per unit. 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 Senegal ($X per unit), while Ghana ($X per unit) was amongst the lowest.

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

Non-Electric Pulley Tackle Imports

Imports in ECOWAS

In 2022, overseas purchases of pulley tackle and hoists, non-powered by electric motor decreased by X% to X units, falling for the third year in a row after six years of growth. Overall, imports, however, recorded strong growth. The growth pace was the most rapid in 2015 when imports increased by X% against the previous year. The volume of import peaked at X units in 2019; however, from 2020 to 2022, imports stood at a somewhat lower figure.

In value terms, non-electric pulley tackle imports contracted significantly to $X in 2022. Over the period under review, imports, however, continue to indicate a pronounced increase. The growth pace was the most rapid in 2018 when imports increased by X%. The level of import peaked at $X in 2019; however, from 2020 to 2022, imports failed to regain momentum.

Imports by Country

The purchases of the four major importers of pulley tackle and hoists, non-powered by electric motor, namely Nigeria, Senegal, Cote d'Ivoire and Guinea, represented more than two-thirds of total import. It was distantly followed by Ghana (X units), mixing up a X% share of total imports. Burkina Faso (X units) followed a long way behind the leaders.

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, the largest non-electric pulley tackle importing markets in ECOWAS were Cote d'Ivoire ($X), Nigeria ($X) and Senegal ($X), with a combined X% share of total imports.

Senegal, with a CAGR of X%, recorded the highest growth rate of the value of imports, in terms of 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, growing by X% against the previous year. Overall, the import price, however, recorded a perceptible decline. The most prominent rate of growth was recorded in 2018 an increase of X% against the previous year. The level of import peaked at $X per unit in 2013; however, from 2014 to 2022, import prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Cote d'Ivoire ($X per unit), while Guinea ($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 a decline in the import price figures.

Source: IndexBox Platform