Western Africa: Inflatable Vessel Market 2024

Inflatable Vessel Market Size in Western Africa

The West African inflatable vessel market surged to $X in 2022, rising by X% against the previous year. The total consumption indicated tangible 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, consumption increased by X% against 2017 indices. Over the period under review, the market reached the peak level in 2022 and is expected to retain growth in the near future.

Inflatable Vessel Production in Western Africa

In value terms, inflatable vessel production expanded slightly to $X in 2022 estimated in export price. In general, production saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 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 failed to regain momentum.

Inflatable Vessel Exports

Exports in Western Africa

For the third year in a row, Western Africa recorded decline in shipments abroad of inflatable vessels for pleasure or sports, which decreased by X% to X units in 2022. In general, exports continue to indicate a precipitous decline. The most prominent rate of growth was recorded in 2015 with an increase of X% against the previous year. Over the period under review, the exports attained the maximum at X units in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

In value terms, inflatable vessel exports contracted to $X in 2022. Over the period under review, exports faced a sharp reduction. The growth pace was the most rapid in 2015 when exports increased by X%. Over the period under review, the exports reached the maximum at $X in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

Exports by Country

Senegal dominates exports structure, accounting for X units, which was approx. X% of total exports in 2022. It was distantly followed by Cote d'Ivoire (X units) and Nigeria (X units), together constituting a X% share of total exports.

Senegal was also the fastest-growing in terms of the inflatable vessels for pleasure or sports exports, with a CAGR of X% from 2012 to 2022. Cote d'Ivoire (X%) and Nigeria (X%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Senegal increased by X percentage points. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Senegal ($X) remains the largest inflatable vessel supplier in Western Africa, comprising X% of total exports. The second position in the ranking was held by Cote d'Ivoire ($X), with a X% share of total exports.

From 2012 to 2022, the average annual growth rate of value in Senegal totaled X%. In the other countries, the average annual rates were as follows: Cote d'Ivoire (X% per year) and Nigeria (X% per year).

Export Prices by Country

In 2022, the export price in Western Africa amounted to $X per unit, rising by X% against the previous year. Over the period under review, the export price, however, showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2020 an increase of X%. The level of export peaked at $X per unit in 2014; however, from 2015 to 2022, the export prices failed to regain momentum.

Average prices varied somewhat amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Nigeria ($X per unit), while Cote d'Ivoire ($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 mixed trends in the export price figures.

Inflatable Vessel Imports

Imports in Western Africa

For the third year in a row, Western Africa recorded growth in supplies from abroad of inflatable vessels for pleasure or sports, which increased by X% to X units in 2022. In general, imports recorded a significant expansion. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, inflatable vessel imports surged to $X in 2022. Over the period under review, imports posted significant growth. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

Nigeria represented the major importer of inflatable vessels for pleasure or sports in Western Africa, with the volume of imports accounting for X units, which was approx. X% of total imports in 2022. Ghana (X units) held the second position in the ranking, followed by Guinea (X units). All these countries together held near X% share of total imports. Liberia (X units) took a relatively small share of total imports.

Imports into Nigeria increased at an average annual rate of X% from 2012 to 2022. At the same time, Liberia (X%), Ghana (X%) and Guinea (X%) displayed positive paces of growth. Moreover, Liberia emerged as the fastest-growing importer imported in Western Africa, with a CAGR of X% from 2012-2022. From 2012 to 2022, the share of Nigeria, Ghana and Liberia increased by X, X and X percentage points, respectively.

In value terms, Nigeria ($X) constitutes the largest market for imported inflatable vessels for pleasure or sports in Western Africa, comprising X% of total imports. The second position in the ranking was held by Ghana ($X), with a X% share of total imports. It was followed by Liberia, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value in Nigeria totaled X%. In the other countries, the average annual rates were as follows: Ghana (X% per year) and Liberia (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. Overall, the import price posted a buoyant increase. The pace of growth was the most pronounced in 2019 an increase of X%. The level of import peaked in 2022 and is likely to see steady growth in the immediate term.

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 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 Nigeria (X%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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