Western Africa: Market for Furnace Burners For Liquid Fuel 2024

Market Size for Furnace Burners For Liquid Fuel in Western Africa

In 2022, the West African liquid fuel furnace burner market decreased by X% to $X, falling for the second consecutive year after three years of growth. Overall, consumption, however, enjoyed slight growth. Over the period under review, the market hit record highs at $X in 2020; however, from 2021 to 2022, consumption failed to regain momentum.

Production of Furnace Burners For Liquid Fuel in Western Africa

In value terms, liquid fuel furnace burner production dropped slightly to $X in 2022 estimated in export price. The total production indicated slight 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, production decreased by X% against 2020 indices. The most prominent rate of growth was recorded in 2015 when the production volume increased by X%. The level of production peaked at $X in 2017; however, from 2018 to 2022, production failed to regain momentum.

Exports of Furnace Burners For Liquid Fuel

Exports in Western Africa

In 2022, overseas shipments of furnace burners for liquid fuel decreased by X% to X units for the first time since 2019, thus ending a two-year rising trend. In general, exports, however, saw a resilient expansion. The growth pace was the most rapid in 2021 when exports increased by X% against the previous year. As a result, the exports attained the peak of X units, and then declined sharply in the following year.

In value terms, liquid fuel furnace burner exports contracted sharply to $X in 2022. Over the period under review, exports, however, continue to indicate buoyant growth. The most prominent rate of growth was recorded in 2021 with an increase of X%. As a result, the exports reached the peak of $X, and then declined markedly in the following year.

Exports by Country

In 2022, Togo (X units) represented the major exporter of furnace burners for liquid fuel, committing X% of total exports. It was distantly followed by Nigeria (X units), comprising a X% share of total exports.

From 2012 to 2022, the biggest increases were recorded for Togo (with a CAGR of X%).

In value terms, Nigeria ($X) and Togo ($X) constituted the countries with the highest levels of exports in 2022.

In terms of the main exporting countries, Togo, with a CAGR of X%, recorded the highest growth rate of the value of exports, over the period under review.

Export Prices by Country

The export price in Western Africa stood at $X per unit in 2022, growing by X% against the previous year. In general, the export price enjoyed strong growth. The growth pace was the most rapid in 2014 an increase of X%. Over the period under review, the export prices hit record highs at $X per unit in 2017; however, from 2018 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 Nigeria ($X per unit), while Togo totaled $X per unit.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Nigeria (X%).

Imports of Furnace Burners For Liquid Fuel

Imports in Western Africa

In 2022, purchases abroad of furnace burners for liquid fuel decreased by X% to X units, falling for the second year in a row after three years of growth. Over the period under review, imports, however, continue to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2015 when imports increased by X%. The volume of import peaked at X units in 2020; however, from 2021 to 2022, imports failed to regain momentum.

In value terms, liquid fuel furnace burner imports dropped markedly to $X in 2022. Overall, imports, however, enjoyed resilient growth. The growth pace was the most rapid in 2015 with an increase of X% against the previous year. Over the period under review, imports attained the maximum at $X in 2020; however, from 2021 to 2022, imports stood at a somewhat lower figure.

Imports by Country

Nigeria was the largest importing country with an import of around X units, which accounted for X% of total imports. Ghana (X units) took a X% share (based on physical terms) of total imports, which put it in second place, followed by Senegal (X%), Mauritania (X%), Benin (X%) and Cote d'Ivoire (X%). Guinea (X units) held a relatively small share of total imports.

From 2012 to 2022, average annual rates of growth with regard to liquid fuel furnace burner imports into Nigeria stood at X%. At the same time, Mauritania (X%), Benin (X%) and Cote d'Ivoire (X%) displayed positive paces of growth. Moreover, Mauritania emerged as the fastest-growing importer imported in Western Africa, with a CAGR of X% from 2012-2022. Ghana experienced a relatively flat trend pattern. By contrast, Senegal (X%) and Guinea (X%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Mauritania, Benin, Cote d'Ivoire and Nigeria increased by X, X, X and X percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Nigeria ($X) constitutes the largest market for imported furnace burners for liquid fuel in Western Africa, comprising X% of total imports. The second position in the ranking was taken by Ghana ($X), with an X% share of total imports. It was followed by Senegal, with an X% share.

From 2012 to 2022, the average annual rate of growth in terms of value in Nigeria totaled X%. The remaining importing countries recorded the following average annual rates of imports growth: Ghana (X% per year) and Senegal (X% per year).

Import Prices by Country

The import price in Western Africa stood at $X per unit in 2022, surging by X% against the previous year. Over the period under review, the import price posted a perceptible increase. The growth pace was the most rapid in 2016 an increase of X%. The level of import peaked at $X per unit in 2017; however, from 2018 to 2022, import prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Nigeria ($X per unit), while Guinea ($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 more modest paces of growth.

Source: IndexBox Platform

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