ECOWAS: Market for Turbo-Propellers Of A Power Exceeding 1,100 kW 2024

Market Size for Turbo-Propellers Of A Power Exceeding 1,100 kW in ECOWAS

In 2023, the ECOWAS turbo-propeller (over X kW) market was finally on the rise to reach $X for the first time since 2020, thus ending a two-year declining trend. Overall, consumption, however, continues to indicate a pronounced reduction. Over the period under review, the market attained the peak level at $X in 2014; however, from 2015 to 2023, consumption stood at a somewhat lower figure.

Production of Turbo-Propellers Of A Power Exceeding X kW in ECOWAS

In value terms, turbo-propeller (over X kW) production expanded notably to $X in 2023 estimated in export price. In general, production recorded a resilient increase. The pace of growth was the most pronounced in 2014 with an increase of X% against the previous year. As a result, production reached the peak level of $X. From 2015 to 2023, production growth failed to regain momentum.

Exports of Turbo-Propellers Of A Power Exceeding 1,100 kW

Exports in ECOWAS

In 2023, shipments abroad of turbo-propellers of a power exceeding X kW decreased by X% to X units, falling for the second consecutive year after four years of growth. Overall, exports enjoyed a remarkable increase. The pace of growth appeared the most rapid in 2013 with an increase of X% against the previous year. The volume of export peaked at X units in 2014; however, from 2015 to 2023, the exports failed to regain momentum.

In value terms, turbo-propeller (over X kW) exports reduced to $X in 2023. In general, exports saw a significant increase. The growth pace was the most rapid in 2020 when exports increased by X%. The level of export peaked at $X in 2022, and then fell in the following year.

Exports by Country

Mali was the main exporting country with an export of about X units, which amounted to X% of total exports. It was distantly followed by Burkina Faso (X units), Cote d'Ivoire (X units) and Nigeria (X units), together creating a X% share of total exports.

From 2012 to 2023, the most notable rate of growth in terms of shipments, amongst the main exporting countries, was attained by Mali (with a CAGR of X%), while the other leaders experienced mixed trends in the exports figures.

In value terms, Mali ($X) remains the largest turbo-propeller (over X kW) supplier in ECOWAS, comprising X% of total exports. The second position in the ranking was taken by Burkina Faso ($X), with a X% share of total exports. It was followed by Cote d'Ivoire, with a X% share.

In Mali, turbo-propeller (over X kW) exports expanded at an average annual rate of X% over the period from 2012-2023. In the other countries, the average annual rates were as follows: Burkina Faso (X% per year) and Cote d'Ivoire (X% per year).

Export Prices by Country

In 2023, the export price in ECOWAS amounted to $X per unit, declining by X% against the previous year. Overall, the export price, however, showed a buoyant expansion. The pace of growth was the most pronounced in 2020 an increase of X% against the previous year. Over the period under review, the export prices hit record highs at $X per unit in 2022, and then contracted in the following year.

There were significant differences in the average prices amongst the major exporting countries. In 2023, amid the top suppliers, the country with the highest price was Mali ($X per unit), while Nigeria ($X per unit) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Mali (X%), while the other leaders experienced more modest paces of growth.

Imports of Turbo-Propellers Of A Power Exceeding 1,100 kW

Imports in ECOWAS

After two years of decline, supplies from abroad of turbo-propellers of a power exceeding X kW increased by X% to X units in 2023. Total imports indicated a modest increase from 2012 to 2023: its volume increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, imports decreased by X% against 2020 indices. The pace of growth appeared the most rapid in 2019 when imports increased by X%. Over the period under review, imports attained the maximum at X units in 2020; however, from 2021 to 2023, imports stood at a somewhat lower figure.

In value terms, turbo-propeller (over X kW) imports surged to $X in 2023. In general, imports saw a buoyant increase. The most prominent rate of growth was recorded in 2019 with an increase of X% against the previous year. Over the period under review, imports reached the maximum in 2023 and are likely to continue growth in the immediate term.

Imports by Country

Nigeria was the major importing country with an import of about X units, which accounted for X% of total imports. Senegal (X units) held the second position in the ranking, followed by Cote d'Ivoire (X units), Mali (X units) and Cabo Verde (X units). All these countries together took approx. X% share of total imports. Burkina Faso (X units) held a little share of total imports.

From 2012 to 2023, average annual rates of growth with regard to turbo-propeller (over X kW) imports into Nigeria stood at X%. At the same time, Burkina Faso (X%) displayed positive paces of growth. Moreover, Burkina Faso emerged as the fastest-growing importer imported in ECOWAS, with a CAGR of X% from 2012-2023. Mali, Senegal and Cote d'Ivoire experienced a relatively flat trend pattern. By contrast, Cabo Verde (X%) illustrated a downward trend over the same period. Nigeria (X p.p.) and Burkina Faso (X p.p.) significantly strengthened its position in terms of the total imports, while Senegal, Cabo Verde and Cote d'Ivoire saw its share reduced by X%, X% and X% from 2012 to 2023, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Nigeria ($X) constitutes the largest market for imported turbo-propellers of a power exceeding X kW in ECOWAS, comprising X% of total imports. The second position in the ranking was taken by Cote d'Ivoire ($X), with an X% share of total imports. It was followed by Cabo Verde, with a X% share.

From 2012 to 2023, the average annual rate of growth in terms of value in Nigeria amounted to X%. In the other countries, the average annual rates were as follows: Cote d'Ivoire (X% per year) and Cabo Verde (X% per year).

Import Prices by Country

The import price in ECOWAS stood at $X per unit in 2023, rising by X% against the previous year. Over the period under review, the import price showed buoyant growth. The pace of growth appeared the most rapid in 2019 an increase of X%. The level of import peaked in 2023 and is likely to see steady growth in years to come.

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

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Cote d'Ivoire (X%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform