Western Africa: Cranks And Crankshafts Market 2024

Cranks And Crankshafts Market Size in Western Africa

The West African cranks and crankshafts market amounted to $X in 2022, surging by X% against the previous year. The market value increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, consumption reached the peak level of $X. From 2015 to 2022, the growth of the market remained at a lower figure.

Cranks And Crankshafts Production in Western Africa

In value terms, cranks and crankshafts production rose slightly to $X in 2022 estimated in export price. Over the period under review, production continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2014 with an increase of X% against the previous year. As a result, production reached the peak level of $X. From 2015 to 2022, production growth failed to regain momentum.

Cranks And Crankshafts Exports

Exports in Western Africa

In 2022, exports of cranks and crankshafts in Western Africa shrank to X tons, declining by X% on the previous year. Over the period under review, exports showed a pronounced slump. The growth pace was the most rapid in 2014 with an increase of X%. As a result, the exports reached the peak of X tons. From 2015 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, cranks and crankshafts exports reduced dramatically to $X in 2022. In general, exports faced a deep reduction. The pace of growth was the most pronounced in 2014 with an increase of X%. As a result, the exports reached the peak of $X. From 2015 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

Ghana was the key exporter of cranks and crankshafts in Western Africa, with the volume of exports recording X tons, which was approx. X% of total exports in 2022. Cote d'Ivoire (X tons) ranks second in terms of the total exports with a X% share, followed by Sierra Leone (X%). Liberia (X tons) held a little share of total exports.

From 2012 to 2022, the biggest increases were recorded for Cote d'Ivoire (with a CAGR of X%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Ghana ($X) remains the largest cranks and crankshafts supplier in Western Africa, comprising X% of total exports. The second position in the ranking was taken by Sierra Leone ($X), with a X% share of total exports. It was followed by Cote d'Ivoire, with a X% share.

In Ghana, cranks and crankshafts exports expanded at an average annual rate of X% over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: Sierra Leone (X% per year) and Cote d'Ivoire (X% per year).

Export Prices by Country

In 2022, the export price in Western Africa amounted to $X per ton, dropping by X% against the previous year. In general, the export price showed a deep reduction. The growth pace was the most rapid in 2018 when the export price increased by X% against the previous year. Over the period under review, the export prices hit record highs at $X per ton in 2012; however, from 2013 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Sierra Leone ($X per ton), while Cote d'Ivoire ($X per ton) 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 mixed trends in the export price figures.

Cranks And Crankshafts Imports

Imports in Western Africa

Cranks and crankshafts imports surged to X tons in 2022, rising by X% on the year before. Overall, imports posted prominent growth. The growth pace was the most rapid in 2020 when imports increased by X%. Over the period under review, imports hit record highs in 2022 and are likely to see gradual growth in the near future.

In value terms, cranks and crankshafts imports soared to $X in 2022. Over the period under review, imports saw strong growth. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

Nigeria dominates imports structure, reaching X tons, which was approx. X% of total imports in 2022. Ghana (X tons) and Cote d'Ivoire (X tons) followed a long way behind the leaders.

Imports into Nigeria increased at an average annual rate of X% from 2012 to 2022. At the same time, Cote d'Ivoire (X%) and Ghana (X%) displayed positive paces of growth. Moreover, Cote d'Ivoire emerged as the fastest-growing importer imported in Western Africa, with a CAGR of X% from 2012-2022. From 2012 to 2022, the share of Cote d'Ivoire increased by X percentage points, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Nigeria ($X) constitutes the largest market for imported cranks and crankshafts in Western Africa, comprising X% of total imports. The second position in the ranking was held by Ghana ($X), with a X% share of total imports.

In Nigeria, cranks and crankshafts imports expanded at an average annual rate of X% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Ghana (X% per year) and Cote d'Ivoire (X% per year).

Import Prices by Country

The import price in Western Africa stood at $X per ton in 2022, rising by X% against the previous year. In general, the import price, however, recorded a perceptible downturn. The pace of growth appeared the most rapid in 2014 an increase of X% against the previous year. The level of import peaked at $X per ton in 2015; however, from 2016 to 2022, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Cote d'Ivoire ($X per ton), while Nigeria ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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