Western Africa: Power Tool Market 2024

Power Tool Market Size in Western Africa

In 2022, the West African power tool market decreased by X% to $X, falling for the second year in a row after four years of growth. Overall, consumption, however, recorded a moderate expansion. As a result, consumption attained the peak level of $X. From 2021 to 2022, the growth of the market failed to regain momentum.

Power Tool Production in Western Africa

In value terms, power tool production amounted to $X in 2022 estimated in export price. The total production indicated a pronounced expansion 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 2013 when the production volume increased by X% against the previous year. Over the period under review, production attained the peak level at $X in 2014; however, from 2015 to 2022, production failed to regain momentum.

Power Tool Exports

Exports in Western Africa

Power tool exports shrank significantly to X units in 2022, which is down by X% against the year before. In general, exports faced a deep downturn. The growth pace was the most rapid in 2015 when exports increased by X%. As a result, the exports attained the peak of X units. From 2016 to 2022, the growth of the exports failed to regain momentum.

In value terms, power tool exports shrank dramatically to $X in 2022. Overall, exports continue to indicate a abrupt shrinkage. The most prominent rate of growth was recorded in 2014 with an increase of X% against the previous year. The level of export peaked at $X in 2015; however, from 2016 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

The biggest shipments were from Mali (X units), Nigeria (X units), Ghana (X units), Burkina Faso (X units) and Sierra Leone (X units), together finishing at X% of total export. Mauritania (X units) took a X% share (based on physical terms) of total exports, which put it in second place, followed by Guinea-Bissau (X%), Senegal (X%) and Cote d'Ivoire (X%).

From 2012 to 2022, the biggest increases were recorded for Guinea-Bissau (with a CAGR of X%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Ghana ($X), Nigeria ($X) and Mali ($X) were the countries with the highest levels of exports in 2022, with a combined X% share of total exports. Sierra Leone, Burkina Faso, Guinea-Bissau, Mauritania, Cote d'Ivoire and Senegal lagged somewhat behind, together comprising a further X%.

Guinea-Bissau, with a CAGR of X%, recorded the highest rates of growth with regard to the value of exports, among the main exporting countries over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The export price in Western Africa stood at $X per unit in 2022, which is down by X% against the previous year. Export price indicated a slight increase from 2012 to 2022: its price 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. The growth pace was the most rapid in 2017 an increase of X%. Over the period under review, the export prices attained the maximum at $X per unit in 2021, and then contracted in the following year.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Sierra Leone ($X per unit), while Burkina Faso ($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 more modest paces of growth.

Power Tool Imports

Imports in Western Africa

In 2022, purchases abroad of power tools decreased by X% to X units, falling for the second year in a row after four years of growth. In general, imports, however, recorded a resilient expansion. The pace of growth was the most pronounced in 2020 when imports increased by X% against the previous year. As a result, imports attained the peak of X units. From 2021 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, power tool imports shrank sharply to $X in 2022. Over the period under review, imports, however, continue to indicate measured growth. The most prominent rate of growth was recorded in 2020 with an increase of X% against the previous year. As a result, imports attained the peak of $X. From 2021 to 2022, the growth of imports remained at a somewhat lower figure.

Imports by Country

In 2022, Ghana (X units) and Nigeria (X units) represented the main importers of power tools in Western Africa, together making up X% of total imports. Guinea (X units) ranks next in terms of the total imports with a X% share, followed by Cote d'Ivoire (X%). The following importers - Mali (X units), Benin (X units) and Senegal (X units) - together made up X% of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by Benin (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Nigeria ($X) constitutes the largest market for imported power tools in Western Africa, comprising X% of total imports. The second position in the ranking was taken by Ghana ($X), with a X% share of total imports. It was followed by Cote d'Ivoire, with an X% share.

In Nigeria, power tool imports remained relatively stable over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: Ghana (X% per year) and Cote d'Ivoire (X% per year).

Import Prices by Country

In 2022, the import price in Western Africa amounted to $X per unit, waning by X% against the previous year. Overall, the import price showed a perceptible slump. The pace of growth appeared the most rapid in 2017 an increase of X%. Over the period under review, import prices reached the peak figure at $X per unit in 2013; however, from 2014 to 2022, import prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Cote d'Ivoire ($X per unit), while Guinea ($X per unit) was amongst the lowest.

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

Source: IndexBox Platform

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