Western Africa: Electrical Signalling Apparatus Market 2023

Electrical Signalling Apparatus Market Size in Western Africa

In 2022, the West African electrical signalling apparatus market decreased by -12.1% to $X, falling for the third year in a row after two years of growth. The total consumption indicated a modest expansion from 2012 to 2022: its value increased at an average annual rate of +1.1% 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 -30.2% against 2019 indices. As a result, consumption reached the peak level of $X. From 2020 to 2022, the growth of the market remained at a lower figure.

Electrical Signalling Apparatus Production in Western Africa

In value terms, electrical signalling apparatus production stood at $X in 2022 estimated in export price. The total production indicated a strong expansion from 2012 to 2022: its value increased at an average annual rate of +5.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production increased by +2.6% against 2019 indices. The most prominent rate of growth was recorded in 2015 with an increase of 56%. The level of production peaked at $X in 2017; however, from 2018 to 2022, production failed to regain momentum.

Electrical Signalling Apparatus Exports

Exports in Western Africa

In 2022, overseas shipments of electrical apparatus for sound or visual signalling were finally on the rise to reach X units after four years of decline. In general, exports, however, continue to indicate a slight setback. The most prominent rate of growth was recorded in 2013 with an increase of 178% against the previous year. The volume of export peaked at X units in 2014; however, from 2015 to 2022, the exports failed to regain momentum.

In value terms, electrical signalling apparatus exports declined to $X in 2022. Overall, exports, however, showed a mild downturn. The pace of growth was the most pronounced in 2014 with an increase of 87%. As a result, the exports attained the peak of $X. From 2015 to 2022, the growth of the exports remained at a somewhat lower figure.

Exports by Country

In 2022, Liberia (X units), distantly followed by Mali (X units), Nigeria (X units), Guinea (X units) and Senegal (X units) represented the largest exporters of electrical apparatus for sound or visual signalling, together creating 89% of total exports. The following exporters - Cote d'Ivoire (X units) and Togo (X units) - each finished at a 5.6% share of total exports.

From 2012 to 2022, the biggest increases were recorded for Mali (with a CAGR of +61.5%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Nigeria ($X), Guinea ($X) and Liberia ($X) appeared to be the countries with the highest levels of exports in 2022, together accounting for 56% of total exports. Cote d'Ivoire, Senegal, Mali and Togo lagged somewhat behind, together comprising a further 33%.

Among the main exporting countries, Mali, with a CAGR of +53.0%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The export price in Western Africa stood at $X per unit in 2022, declining by -12.7% against the previous year. Overall, the export price showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2015 an increase of 99%. As a result, the export price reached the peak level of $X per unit. From 2016 to 2022, the export prices remained 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 ($X per unit), while Mali ($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 (+59.0%), while the other leaders experienced more modest paces of growth.

Electrical Signalling Apparatus Imports

Imports in Western Africa

In 2022, approx. X units of electrical apparatus for sound or visual signalling were imported in Western Africa; with a decrease of -7.9% on the previous year's figure. In general, imports saw a slight decline. The most prominent rate of growth was recorded in 2014 with an increase of 101%. As a result, imports reached the peak of X units. From 2015 to 2022, the growth of imports failed to regain momentum.

In value terms, electrical signalling apparatus imports declined rapidly to $X in 2022. Overall, imports recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 with an increase of 131%. As a result, imports attained the peak of $X. From 2020 to 2022, the growth of imports remained at a lower figure.

Imports by Country

In 2022, Cabo Verde (X units), Cote d'Ivoire (X units), Ghana (X units) and Senegal (X units) represented the largest importer of electrical apparatus for sound or visual signalling in Western Africa, making up 66% of total import. It was distantly followed by Niger (X units), Togo (X units), Nigeria (X units) and Mali (X units), together achieving a 22% share of total imports.

From 2012 to 2022, the biggest increases were recorded for Togo (with a CAGR of +42.8%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Cote d'Ivoire ($X), Ghana ($X) and Senegal ($X) constituted the countries with the highest levels of imports in 2022, together accounting for 57% of total imports. Mali, Nigeria, Togo, Cabo Verde and Niger lagged somewhat behind, together comprising a further 24%.

Togo, with a CAGR of +37.0%, saw 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

The import price in Western Africa stood at $X per unit in 2022, declining by -24.5% against the previous year. In general, the import price, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 when the import price increased by 142% against the previous year. As a result, import price attained the peak level of $X per unit. From 2020 to 2022, the 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 Mali ($X per unit), while Cabo Verde ($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 (+10.5%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform

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