Western Africa: Jacks And Hoists Market 2024

Jacks And Hoists Market Size in Western Africa

In 2022, the West African jacks and hoists market decreased by X% to $X, falling for the third year in a row after two years of growth. Over the period under review, consumption showed a relatively flat trend pattern. Over the period under review, the market attained the maximum level at $X in 2015; however, from 2016 to 2022, consumption failed to regain momentum.

Jacks And Hoists Production in Western Africa

In value terms, jacks and hoists production declined slightly to $X in 2022 estimated in export price. In general, production, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 when the production volume increased by X% against the previous year. As a result, production attained the peak level of $X. From 2015 to 2022, production growth failed to regain momentum.

Jacks And Hoists Exports

Exports in Western Africa

In 2022, shipments abroad of jacks and hoists for raising vehicles decreased by X% to X units for the first time since 2019, thus ending a two-year rising trend. Over the period under review, exports saw a pronounced slump. The growth pace was the most rapid in 2017 with an increase of X%. As a result, the exports attained the peak of X units. From 2018 to 2022, the growth of the exports remained at a lower figure.

In value terms, jacks and hoists exports contracted rapidly to $X in 2022. In general, exports showed a abrupt curtailment. The pace of growth appeared the most rapid in 2017 with an increase of X%. The level of export peaked at $X in 2014; however, from 2015 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

In 2022, Ghana (X units) represented the key exporter of jacks and hoists for raising vehicles, constituting X% of total exports. Togo (X units) held a X% share (based on physical terms) of total exports, which put it in second place, followed by Cote d'Ivoire (X%) and Benin (X%). Nigeria (X units) and Mauritania (X units) followed a long way behind the leaders.

Exports from Ghana increased at an average annual rate of X% from 2012 to 2022. At the same time, Togo (X%) and Benin (X%) displayed positive paces of growth. Moreover, Togo emerged as the fastest-growing exporter exported in Western Africa, with a CAGR of X% from 2012-2022. By contrast, Mauritania (X%), Nigeria (X%) and Cote d'Ivoire (X%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Ghana, Togo and Benin increased by X, X and X percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest jacks and hoists supplying countries in Western Africa were Ghana ($X), Cote d'Ivoire ($X) and Togo ($X), with a combined X% share of total exports. Nigeria, Benin and Mauritania lagged somewhat behind, together comprising a further X%.

Benin, with a CAGR of X%, 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, picking up by X% against the previous year. In general, the export price, however, saw a abrupt shrinkage. The most prominent rate of growth was recorded in 2018 when the export price increased by X%. The level of export peaked at $X per unit in 2014; however, from 2015 to 2022, the export prices failed to regain momentum.

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 Mauritania ($X per unit), while Togo ($X per unit) was amongst the lowest.

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

Jacks And Hoists Imports

Imports in Western Africa

In 2022, purchases abroad of jacks and hoists for raising vehicles decreased by X% to X units, falling for the third year in a row after two years of growth. In general, imports saw a deep downturn. The growth pace was the most rapid in 2013 when imports increased by X%. As a result, imports attained the peak of X units. From 2014 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, jacks and hoists imports contracted notably to $X in 2022. Overall, imports recorded a abrupt shrinkage. The pace of growth was the most pronounced in 2013 with an increase of X% against the previous year. As a result, imports attained the peak of $X. From 2014 to 2022, the growth of imports failed to regain momentum.

Imports by Country

Nigeria was the largest importer of jacks and hoists for raising vehicles in Western Africa, with the volume of imports amounting to X units, which was approx. X% of total imports in 2022. Cote d'Ivoire (X units) held a X% share (based on physical terms) of total imports, which put it in second place, followed by Senegal (X%) and Ghana (X%). The following importers - Burkina Faso (X units) and Niger (X units) - together made up X% of total imports.

From 2012 to 2022, average annual rates of growth with regard to jacks and hoists imports into Nigeria stood at X%. At the same time, Niger (X%), Burkina Faso (X%), Senegal (X%) and Cote d'Ivoire (X%) displayed positive paces of growth. Moreover, Niger emerged as the fastest-growing importer imported in Western Africa, with a CAGR of X% from 2012-2022. By contrast, Ghana (X%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Cote d'Ivoire, Senegal, Burkina Faso and Niger increased by X, X, X and X percentage points, respectively.

In value terms, Nigeria ($X), Cote d'Ivoire ($X) and Ghana ($X) appeared to be the countries with the highest levels of imports in 2022, together accounting for X% of total imports. Burkina Faso, Senegal and Niger lagged somewhat behind, together comprising a further X%.

Among the main importing countries, Niger, with a CAGR of X%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced mixed trends in the imports figures.

Import Prices by Country

In 2022, the import price in Western Africa amounted to $X per unit, surging by X% against the previous year. In general, the import price, however, continues to indicate a slight decline. The pace of growth appeared the most rapid in 2016 when the import price increased by X%. The level of import peaked at $X per unit in 2012; however, from 2013 to 2022, 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 Burkina Faso ($X per unit), while Nigeria ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Ghana (X%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :