Western Africa: Market for Iron Or Steel Solid Fuel Domestic Appliances 2024

Market Size for Iron Or Steel Solid Fuel Domestic Appliances in Western Africa

The West African metal solid fuel appliances market fell to $X in 2022, which is down by -7.5% against the previous year. Overall, consumption saw a relatively flat trend pattern. Over the period under review, the market attained the maximum level at $X in 2019; however, from 2020 to 2022, consumption failed to regain momentum.

Production of Iron Or Steel Solid Fuel Domestic Appliances in Western Africa

In value terms, metal solid fuel appliances production reduced to $X in 2022 estimated in export price. Overall, production recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 when the production volume increased by 66%. The level of production peaked at $X in 2019; however, from 2020 to 2022, production failed to regain momentum.

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Exports of Iron Or Steel Solid Fuel Domestic Appliances

Exports in Western Africa

In 2022, shipments abroad of iron or steel solid fuel domestic appliances decreased by -17.6% to X units, falling for the second year in a row after two years of growth. Overall, exports recorded a perceptible curtailment. The pace of growth was the most pronounced in 2014 when exports increased by 310% against the previous year. As a result, the exports reached the peak of X units. From 2015 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, metal solid fuel appliances exports skyrocketed to $X in 2022. In general, exports, however, enjoyed a remarkable increase. The most prominent rate of growth was recorded in 2013 with an increase of 976% against the previous year. Over the period under review, the exports reached the maximum at $X in 2014; however, from 2015 to 2022, the exports remained at a lower figure.

Exports by Country

In 2022, Ghana (X units) and Togo (X units) represented the largest exporters of iron or steel solid fuel domestic appliances in Western Africa, together resulting at near 57% of total exports. Cote d'Ivoire (X units) held a 14% share (based on physical terms) of total exports, which put it in second place, followed by Nigeria (14%) and Senegal (14%).

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the key exporting countries, was attained by Ghana (with a CAGR of +7.2%), while the other leaders experienced mixed trends in the exports figures.

In value terms, Togo ($X), Nigeria ($X) and Cote d'Ivoire ($X) were the countries with the highest levels of exports in 2022, together comprising 96% of total exports.

Nigeria, with a CAGR of +59.2%, recorded the highest rates of growth with regard to the value of exports, in terms of the main exporting countries over the period under review, while shipments for the other leaders experienced mixed trends in the exports figures.

Export Prices by Country

In 2022, the export price in Western Africa amounted to $X per unit, growing by 121% against the previous year. Overall, the export price enjoyed a prominent expansion. The most prominent rate of growth was recorded in 2013 an increase of 822%. As a result, the export price attained the peak level of $X per unit. From 2014 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 ($X per unit), while Senegal ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Nigeria (+59.2%), while the other leaders experienced more modest paces of growth.

Imports of Iron Or Steel Solid Fuel Domestic Appliances

Imports in Western Africa

Metal solid fuel appliances imports surged to X units in 2022, increasing by 74% against the previous year's figure. Over the period under review, imports continue to indicate buoyant growth. The pace of growth was the most pronounced in 2014 with an increase of 219%. As a result, imports reached the peak of X units. From 2015 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, metal solid fuel appliances imports skyrocketed to $X in 2022. Overall, imports saw a resilient expansion. The most prominent rate of growth was recorded in 2014 with an increase of 99%. Over the period under review, imports reached the peak figure in 2022 and are likely to see steady growth in years to come.

Imports by Country

Nigeria (X units) and Senegal (X units) were the key importers of iron or steel solid fuel domestic appliances in 2022, reaching near 29% and 27% of total imports, respectively. Cabo Verde (X units) took the next position in the ranking, followed by Ghana (X units). All these countries together took approx. 18% share of total imports. The following importers - Cote d'Ivoire (X units), Burkina Faso (X units), Mali (X units), Mauritania (X units), Guinea (X units), Gambia (X units), Guinea-Bissau (X units), Niger (X units) and Togo (X units) - together made up 24% of total imports.

From 2012 to 2022, the biggest increases were recorded for Gambia (with a CAGR of +30.9%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Nigeria ($X) constitutes the largest market for imported iron or steel solid fuel domestic appliances in Western Africa, comprising 55% of total imports. The second position in the ranking was taken by Cabo Verde ($X), with a 9.6% share of total imports. It was followed by Senegal, with a 6.6% share.

From 2012 to 2022, the average annual rate of growth in terms of value in Nigeria amounted to +16.3%. In the other countries, the average annual rates were as follows: Cabo Verde (+26.2% per year) and Senegal (+3.2% per year).

Import Prices by Country

The import price in Western Africa stood at $X per unit in 2022, with an increase of 11% against the previous year. Import price indicated a measured increase from 2012 to 2022: its price increased at an average annual rate of +4.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, metal solid fuel appliances import price increased by +19.7% against 2019 indices. The most prominent rate of growth was recorded in 2016 an increase of 74% against the previous year. As a result, import price attained the peak level of $X per unit. From 2017 to 2022, the import prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Mali ($X per unit), while Togo ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Gambia (+20.4%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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