Western Africa: Motor Boat Market 2024

Motor Boat Market Size in Western Africa

The West African motor boat market reduced to $X in 2022, waning by X% against the previous year. Over the period under review, consumption showed a relatively flat trend pattern. The level of consumption peaked at $X in 2019; however, from 2020 to 2022, consumption stood at a somewhat lower figure.

Motor Boat Production in Western Africa

In value terms, motor boat production contracted modestly 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 2018 when the production volume increased by X% against the previous year. Over the period under review, production attained the peak level at $X in 2019; however, from 2020 to 2022, production remained at a lower figure.

Motor Boat Exports

Exports in Western Africa

Motor boat exports fell slightly to X units in 2022, stabilizing at 2021 figures. Over the period under review, exports showed a abrupt descent. The most prominent rate of growth was recorded in 2014 with an increase of X%. 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, motor boat exports reached $X in 2022. Overall, exports continue to indicate a mild decline. The pace of growth appeared the most rapid in 2018 when exports increased by X% against the previous year. Over the period under review, the exports reached the peak figure at $X in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Liberia prevails in exports structure, recording X units, which was near X% of total exports in 2022. Senegal (X units) followed a long way behind the leaders.

Exports from Liberia decreased at an average annual rate of X% from 2012 to 2022. At the same time, Senegal (X%) displayed positive paces of growth. Moreover, Senegal emerged as the fastest-growing exporter exported in Western Africa, with a CAGR of X% from 2012-2022. The shares of the largest exporters remained relatively stable throughout the analyzed period.

In value terms, Liberia ($X) remains the largest motor boat supplier in Western Africa, comprising X% of total exports. The second position in the ranking was held by Senegal ($X), with a X% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value in Liberia stood at X%.

Export Prices by Country

The export price in Western Africa stood at $X per unit in 2022, surging by X% against the previous year. Over the period under review, the export price showed resilient growth. The pace of growth appeared the most rapid in 2015 when the export price increased by X%. Over the period under review, the export prices hit record highs in 2022 and is likely to continue growth in the near future.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Liberia ($X per unit), while Senegal stood at $X per unit.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Senegal (X%).

Motor Boat Imports

Imports in Western Africa

In 2022, after two years of decline, there was significant growth in purchases abroad of motor boats and motor yachts, for pleasure or sports, when their volume increased by X% to X units. Over the period under review, imports, however, showed a pronounced setback. The volume of import peaked at X units in 2013; however, from 2014 to 2022, imports remained at a lower figure.

In value terms, motor boat imports soared to $X in 2022. Overall, imports, however, showed a abrupt decline. The most prominent rate of growth was recorded in 2018 with an increase of X%. Over the period under review, imports hit record highs at $X in 2015; however, from 2016 to 2022, imports failed to regain momentum.

Imports by Country

Ghana represented the main importing country with an import of about X units, which accounted for X% of total imports. It was distantly followed by Mali (X units), Nigeria (X units), Cabo Verde (X units), Gambia (X units), Guinea (X units), Togo (X units) and Senegal (X units), together constituting a X% share of total imports.

Ghana was also the fastest-growing in terms of the motor boats and motor yachts, for pleasure or sports imports, with a CAGR of X% from 2012 to 2022. At the same time, Togo (X%), Mali (X%), Cabo Verde (X%), Guinea (X%) and Senegal (X%) displayed positive paces of growth. By contrast, Nigeria (X%) and Gambia (X%) illustrated a downward trend over the same period. While the share of Ghana (X p.p.), Mali (X p.p.), Togo (X p.p.), Cabo Verde (X p.p.), Guinea (X p.p.) and Senegal (X p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Gambia (X p.p.) and Nigeria (X p.p.) displayed negative dynamics.

In value terms, Ghana ($X), Nigeria ($X) and Mali ($X) appeared to be the countries with the highest levels of imports in 2022, together comprising X% of total imports.

Among the main importing countries, Mali, 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 more modest paces of growth.

Import Prices by Country

The import price in Western Africa stood at $X per unit in 2022, picking up by X% against the previous year. Over the period under review, the import price, however, saw a abrupt downturn. The most prominent rate of growth was recorded in 2014 when the import price increased by X% against the previous year. The level of import peaked at $X per unit in 2015; however, from 2016 to 2022, import prices stood at a somewhat lower figure.

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

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

Source: IndexBox Platform

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