Western Africa: Market for Hand-Operated Drilling, Threading or Tapping Tools 2024

Market Size for Hand-Operated Drilling, Threading or Tapping Tools in Western Africa

The West African market for hand-operated drilling, threading or tapping tools skyrocketed to $X in 2022, growing by X% against the previous year. Overall, consumption showed resilient growth. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Production of Hand-Operated Drilling, Threading or Tapping Tools in Western Africa

In value terms, production of hand-operated drilling, threading or tapping tools reached $X in 2022 estimated in export price. Over the period under review, production enjoyed a buoyant expansion. The growth pace was the most rapid in 2013 when the production volume increased by X% against the previous year. Over the period under review, production of reached the maximum level at $X in 2020; however, from 2021 to 2022, production stood at a somewhat lower figure.

Exports of Hand-Operated Drilling, Threading or Tapping Tools

Exports in Western Africa

In 2022, approx. X tons of hand-operated drilling, threading or tapping tools were exported in Western Africa; with a decrease of X% on 2021. Over the period under review, exports showed a deep slump. The growth pace was the most rapid in 2015 when exports increased by X% against the previous year. Over the period under review, the exports of hit record highs at X tons in 2016; however, from 2017 to 2022, the exports failed to regain momentum.

In value terms, exports of hand-operated drilling, threading or tapping tools surged to $X in 2022. Overall, exports showed a deep reduction. The pace of growth was the most pronounced in 2015 when exports increased by X% against the previous year. Over the period under review, the exports of hit record highs at $X in 2013; however, from 2014 to 2022, the exports failed to regain momentum.

Exports by Country

Liberia (X tons) and Cote d'Ivoire (X tons) represented roughly X% of total exports in 2022. Niger (X kg) ranks next in terms of the total exports with a X% share, followed by Ghana (X%) and Togo (X%). Senegal (X kg) took a relatively small share of total exports.

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

In value terms, Togo ($X) emerged as the largest hand-operated drilling, threading or tapping tool supplier in Western Africa, comprising X% of total exports. The second position in the ranking was taken by Ghana ($X), with a X% share of total exports. It was followed by Cote d'Ivoire, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value in Togo totaled X%. In the other countries, the average annual rates were as follows: Ghana (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, surging by X% against the previous year. In general, the export price saw a relatively flat trend pattern. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

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 Togo ($X per ton), while Niger ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Togo (X%), while the other leaders experienced more modest paces of growth.

Imports of Hand-Operated Drilling, Threading or Tapping Tools

Imports in Western Africa

In 2022, the amount of hand-operated drilling, threading or tapping tools imported in Western Africa surged to X tons, with an increase of X% against 2021 figures. Overall, imports posted a resilient increase. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, imports of hand-operated drilling, threading or tapping tools skyrocketed to $X in 2022. In general, imports continue to indicate a noticeable expansion. The level of import peaked at $X in 2014; however, from 2015 to 2022, imports stood at a somewhat lower figure.

Imports by Country

Niger was the main importer of hand-operated drilling, threading or tapping tools in Western Africa, with the volume of imports recording X tons, which was near X% of total imports in 2022. Benin (X tons) took a X% share (based on physical terms) of total imports, which put it in second place, followed by Nigeria (X%) and Mauritania (X%). Burkina Faso (X tons), Mali (X tons) and Ghana (X tons) followed a long way behind the leaders.

Niger was also the fastest-growing in terms of the hand-operated drilling, threading or tapping tools imports, with a CAGR of X% from 2012 to 2022. At the same time, Benin (X%), Burkina Faso (X%), Mali (X%), Mauritania (X%) and Nigeria (X%) displayed positive paces of growth. By contrast, Ghana (X%) illustrated a downward trend over the same period. While the share of Niger (X p.p.), Benin (X p.p.) and Burkina Faso (X p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Nigeria (X p.p.) and Ghana (X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Niger ($X) constitutes the largest market for imported hand-operated drilling, threading or tapping tools in Western Africa, comprising X% of total imports. The second position in the ranking was held by Nigeria ($X), with a X% share of total imports. It was followed by Mauritania, with a X% share.

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

Import Prices by Country

The import price in Western Africa stood at $X per ton in 2022, with a decrease of X% against the previous year. Overall, the import price showed a deep setback. The growth pace was the most rapid in 2021 when the import price increased by X% against the previous year. Over the period under review, import prices hit record highs at $X per ton in 2015; however, from 2016 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 Ghana ($X per ton), while Benin ($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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