Western Africa: Hay-Making Machinery Market 2024

Hay-Making Machinery Market Size in Western Africa

The West African hay-making machinery market totaled $X in 2022, remaining relatively unchanged 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. Over the period under review, the market reached the peak level at $X in 2020; however, from 2021 to 2022, consumption stood at a somewhat lower figure.

Hay-Making Machinery Production in Western Africa

In value terms, hay-making machinery production totaled $X in 2022 estimated in export price. The total production indicated a temperate increase 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 2014 when the production volume increased by X% against the previous year. Over the period under review, production hit record highs at $X in 2020; however, from 2021 to 2022, production stood at a somewhat lower figure.

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Hay-Making Machinery Exports

Exports in Western Africa

In 2021, exports of hay-making machinery in Western Africa soared to X units, jumping by X% against the previous year. Over the period under review, exports saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 when exports increased by X% against the previous year. The volume of export peaked at X units in 2016; however, from 2017 to 2021, the exports stood at a somewhat lower figure.

In value terms, hay-making machinery exports soared to $X in 2021. Overall, exports continue to indicate a prominent increase. The most prominent rate of growth was recorded in 2019 with an increase of X% against the previous year. As a result, the exports reached the peak of $X. From 2020 to 2021, the growth of the exports failed to regain momentum.

Exports by Country

Nigeria (X units) represented roughly X% of total exports in 2021.

Nigeria experienced a relatively flat trend pattern with regard to volume of exports of hay-making machinery. The shares of the largest exporters remained relatively stable throughout the analyzed period.

In value terms, Nigeria ($X) also remains the largest hay-making machinery supplier in Western Africa.

In Nigeria, hay-making machinery exports expanded at an average annual rate of X% over the period from 2013-2021.

Export Prices by Country

In 2021, the export price in Western Africa amounted to $X per unit, with an increase of X% against the previous year. Overall, the export price saw a significant expansion. The pace of growth was the most pronounced in 2016 an increase of X% against the previous year. The level of export peaked at $X per unit in 2018; afterwards, it flattened through to 2021.

As there is only one major export destination, the average price level is determined by prices for Nigeria.

From 2013 to 2021, the rate of growth in terms of prices for Nigeria amounted to X% per year.

Hay-Making Machinery Imports

Imports in Western Africa

Hay-making machinery imports soared to X units in 2022, jumping by X% on 2021. Overall, imports posted a prominent increase. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, hay-making machinery imports shrank significantly to $X in 2022. Over the period under review, imports showed a pronounced expansion. The pace of growth appeared the most rapid in 2018 with an increase of X% against the previous year. Over the period under review, imports reached the maximum at $X in 2014; however, from 2015 to 2022, imports failed to regain momentum.

Imports by Country

Burkina Faso dominates imports structure, accounting for X units, which was near X% of total imports in 2022. Ghana (X units), Cote d'Ivoire (X units), Gambia (X units), Mali (X units), Senegal (X units), Sierra Leone (X units) and Togo (X units) took a little share of total imports.

Burkina Faso was also the fastest-growing in terms of the hay-making machinery imports, with a CAGR of X% from 2012 to 2022. At the same time, Togo (X%), Gambia (X%) and Sierra Leone (X%) displayed positive paces of growth. Mali experienced a relatively flat trend pattern. By contrast, Ghana (X%), Cote d'Ivoire (X%) and Senegal (X%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Burkina Faso and Togo increased by X and X percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest hay-making machinery importing markets in Western Africa were Burkina Faso ($X), Ghana ($X) and Cote d'Ivoire ($X), with a combined X% share of total imports.

Burkina Faso, with a CAGR of X%, saw the highest rates of growth with regard to the value of imports, among 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

In 2022, the import price in Western Africa amounted to $X per unit, which is down by X% against the previous year. In general, the import price saw a abrupt setback. The pace of growth appeared the most rapid in 2014 when the import price increased by X% against the previous year. As a result, import price attained the peak level of $X per unit. From 2015 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 Ghana ($X per unit), while Senegal ($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 more modest paces of growth.

Source: IndexBox Platform

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