Western Africa: Silencer Market 2024

Silencer Market Size in Western Africa

The West African silencer market shrank modestly to $X in 2022, which is down by X% against the previous year. In general, consumption, however, enjoyed a buoyant expansion. Over the period under review, the market attained the peak level at $X in 2019; however, from 2020 to 2022, consumption remained at a lower figure.

Silencer Production in Western Africa

In value terms, silencer production declined slightly to $X in 2022 estimated in export price. In general, production, however, saw a strong expansion. The growth pace was the most rapid in 2016 with an increase of X%. Over the period under review, production hit record highs at $X in 2019; however, from 2020 to 2022, production failed to regain momentum.

Silencer Exports

Exports in Western Africa

In 2022, exports of silencers and exhaust pipes in Western Africa dropped dramatically to X tons, shrinking by X% compared with 2021 figures. Over the period under review, exports, however, recorded significant growth. The pace of growth was the most pronounced in 2021 with an increase of X%. As a result, the exports reached the peak of X tons, and then dropped dramatically in the following year.

In value terms, silencer exports reduced to $X in 2022. Overall, exports, however, posted a significant expansion. The pace of growth appeared the most rapid in 2021 when exports increased by X% against the previous year. As a result, the exports reached the peak of $X, and then declined in the following year.

Exports by Country

The biggest shipments were from Nigeria (X tons), together amounting to X% of total export.

Nigeria was also the fastest-growing in terms of the silencers and exhaust pipes exports, with a CAGR of X% from 2012 to 2022. The shares of the largest exporters remained relatively stable throughout the analyzed period.

In value terms, Nigeria ($X) also remains the largest silencer supplier in Western Africa.

From 2012 to 2022, the average annual growth rate of value in Nigeria totaled X%.

Export Prices by Country

In 2022, the export price in Western Africa amounted to $X per ton, picking up by X% against the previous year. Overall, the export price continues to indicate a significant increase. The growth pace was the most rapid in 2021 when the export price increased by X% against the previous year. Over the period under review, the export prices reached the peak figure in 2022 and is expected to retain growth in the near future.

As there is only one major export destination, the average price level is determined by prices for Nigeria.

From 2012 to 2022, the rate of growth in terms of prices for Nigeria amounted to X% per year.

Silencer Imports

Imports in Western Africa

In 2022, silencer imports in Western Africa fell modestly to X tons, which is down by X% on 2021. In general, imports saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2018 with an increase of X%. The volume of import peaked at X tons in 2020; however, from 2021 to 2022, imports failed to regain momentum.

In value terms, silencer imports stood at $X in 2022. The total import value increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2018 when imports increased by X% against the previous year. The level of import peaked at $X in 2020; however, from 2021 to 2022, imports stood at a somewhat lower figure.

Imports by Country

Nigeria was the main importing country with an import of about X tons, which resulted at X% of total imports. Cote d'Ivoire (X tons) ranks second in terms of the total imports with a X% share, followed by Ghana (X%) and Burkina Faso (X%). Guinea (X tons), Senegal (X tons) and Gambia (X tons) held a relatively small share of total imports.

Imports into Nigeria decreased at an average annual rate of X% from 2012 to 2022. At the same time, Gambia (X%), Cote d'Ivoire (X%), Burkina Faso (X%) and Senegal (X%) displayed positive paces of growth. Moreover, Gambia emerged as the fastest-growing importer imported in Western Africa, with a CAGR of X% from 2012-2022. Guinea experienced a relatively flat trend pattern. By contrast, Ghana (X%) illustrated a downward trend over the same period. Cote d'Ivoire (X p.p.), Burkina Faso (X p.p.), Senegal (X p.p.) and Gambia (X p.p.) significantly strengthened its position in terms of the total imports, while Nigeria and Ghana saw its share reduced by X% and X% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

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

In Nigeria, silencer imports expanded at an average annual rate of X% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Cote d'Ivoire (X% per year) and Ghana (X% per year).

Import Prices by Country

The import price in Western Africa stood at $X per ton in 2022, with an increase of X% against the previous year. Import price indicated a noticeable expansion 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. Based on 2022 figures, silencer import price increased by X% against 2020 indices. The pace of growth was the most pronounced in 2015 when the import price increased by X% against the previous year. The level of import peaked at $X per ton in 2016; however, from 2017 to 2022, import prices remained at a 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 Burkina Faso ($X per ton), while Gambia ($X per ton) 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 more modest paces of growth.

Source: IndexBox Platform