Western Africa: Crane Market 2024

Crane Market Size in Western Africa

The West African crane market rose to $X in 2022, increasing by X% against the previous year. The total consumption indicated a strong expansion from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by X% against 2012 indices. The level of consumption peaked in 2022 and is expected to retain growth in the near future.

Crane Production in Western Africa

In value terms, crane production rose slightly to $X in 2022 estimated in export price. The total production indicated a resilient expansion from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by X% against 2020 indices. The pace of growth appeared the most rapid in 2017 when the production volume increased by X%. The level of production peaked at $X in 2020; however, from 2021 to 2022, production stood at a somewhat lower figure.

Crane Exports

Exports in Western Africa

In 2022, shipments abroad of derricks, cranes, mobile lifting frames, straddle carriers and work trucks fitted with a crane decreased by X% to X units, falling for the second consecutive year after four years of growth. In general, exports, however, recorded measured growth. The pace of growth was the most pronounced in 2014 when exports increased by X%. The volume of export peaked at X units in 2020; however, from 2021 to 2022, the exports failed to regain momentum.

In value terms, crane exports fell sharply to $X in 2022. Over the period under review, exports, however, saw perceptible growth. The growth pace was the most rapid in 2020 with an increase of X% against the previous year. As a result, the exports attained the peak of $X. From 2021 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

Togo represented the major exporter of derricks, cranes, mobile lifting frames, straddle carriers and work trucks fitted with a crane in Western Africa, with the volume of exports reaching X units, which was near X% of total exports in 2022. Cote d'Ivoire (X units) took the second position in the ranking, followed by Ghana (X units), Benin (X units), Senegal (X units) and Niger (X units). All these countries together held near X% share of total exports. Mali (X units) followed a long way behind the leaders.

Togo was also the fastest-growing in terms of the derricks, cranes, mobile lifting frames, straddle carriers and work trucks fitted with a crane exports, with a CAGR of X% from 2012 to 2022. At the same time, Cote d'Ivoire (X%), Benin (X%), Ghana (X%) and Niger (X%) displayed positive paces of growth. By contrast, Senegal (X%) and Mali (X%) illustrated a downward trend over the same period. Togo (X p.p.), Cote d'Ivoire (X p.p.), Ghana (X p.p.), Benin (X p.p.) and Niger (X p.p.) significantly strengthened its position in terms of the total exports, while Mali and Senegal saw its share reduced by X% and X% from 2012 to 2022, respectively.

In value terms, Cote d'Ivoire ($X) emerged as the largest crane supplier in Western Africa, comprising X% of total exports. The second position in the ranking was taken by Ghana ($X), with a X% share of total exports. It was followed by Benin, with a X% share.

In Cote d'Ivoire, crane exports increased 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 Benin (X% per year).

Export Prices by Country

The export price in Western Africa stood at $X per unit in 2022, waning by X% against the previous year. In general, the export price showed a noticeable downturn. The pace of growth appeared the most rapid in 2020 an increase of X% against the previous year. The level of export peaked at $X per unit in 2014; however, from 2015 to 2022, the export prices stood at a somewhat lower figure.

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

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

Crane Imports

Imports in Western Africa

For the fifth consecutive year, Western Africa recorded growth in supplies from abroad of derricks, cranes, mobile lifting frames, straddle carriers and work trucks fitted with a crane, which increased by X% to X units in 2022. Total imports indicated a remarkable increase from 2012 to 2022: its volume increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by X% against 2013 indices. The pace of growth was the most pronounced in 2013 when imports increased by X%. The volume of import peaked in 2022 and is expected to retain growth in the immediate term.

In value terms, crane imports totaled $X in 2022. Total imports indicated strong growth from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by X% against 2017 indices. The pace of growth was the most pronounced in 2013 with an increase of X% against the previous year. The level of import peaked in 2022 and is likely to see gradual growth in years to come.

Imports by Country

In 2022, Nigeria (X units) was the main importer of derricks, cranes, mobile lifting frames, straddle carriers and work trucks fitted with a crane, achieving X% of total imports. Cote d'Ivoire (X units) held a X% share (based on physical terms) of total imports, which put it in second place, followed by Senegal (X%), Ghana (X%) and Benin (X%). The following importers - Togo (X units) and Guinea (X units) - each recorded an X% share of total imports.

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

In value terms, the largest crane importing markets in Western Africa were Nigeria ($X), Cote d'Ivoire ($X) and Ghana ($X), with a combined X% share of total imports. Senegal, Benin, Guinea and Togo lagged somewhat behind, together comprising a further X%.

Among the main importing countries, Togo, with a CAGR of X%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in Western Africa stood at $X per unit in 2022, with a decrease of X% against the previous year. Overall, the import price showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 when the import price increased by X%. Over the period under review, import prices attained the maximum at $X per unit in 2014; however, from 2015 to 2022, import prices stood at a somewhat lower figure.

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 Ghana ($X per unit), while Togo ($X per unit) was amongst the lowest.

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

Source: IndexBox Platform

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