Western Africa: Transmission Shaft Market 2024

Transmission Shaft Market Size in Western Africa

The West African transmission shaft market skyrocketed to $X in 2022, rising by X% against the previous year. Overall, consumption showed a prominent expansion. The level of consumption peaked in 2022 and is expected to retain growth in years to come.

Transmission Shaft Production in Western Africa

In value terms, transmission shaft production declined slightly to $X in 2022 estimated in export price. In general, production recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2019 when the production volume increased by X%. As a result, production reached the peak level of $X. From 2020 to 2022, production growth failed to regain momentum.

Transmission Shaft Exports

Exports in Western Africa

In 2022, overseas shipments of transmission shafts and cranks, bearing housings and plain shaft bearings, gears and gearing and articulated link chain increased by X% to X tons, rising for the second year in a row after two years of decline. Overall, exports posted a prominent increase. The most prominent rate of growth was recorded in 2021 when exports increased by X%. Over the period under review, the exports hit record highs in 2022 and are likely to see gradual growth in the near future.

In value terms, transmission shaft exports fell slightly to $X in 2022. Over the period under review, exports, however, recorded a mild setback. The most prominent rate of growth was recorded in 2014 with an increase of X% against the previous year. As a result, the exports attained the peak of $X. From 2015 to 2022, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Togo prevails in exports structure, recording X tons, which was approx. X% of total exports in 2022. Burkina Faso (X tons) ranks second in terms of the total exports with a X% share, followed by Senegal (X%), Nigeria (X%) and Ghana (X%). The following exporters - Cote d'Ivoire (X tons) and Benin (X tons) - each accounted for a X% share of total exports.

Togo was also the fastest-growing in terms of the transmission shafts and cranks, bearing housings and plain shaft bearings, gears and gearing and articulated link chain exports, with a CAGR of X% from 2012 to 2022. At the same time, Benin (X%), Burkina Faso (X%), Senegal (X%), Cote d'Ivoire (X%) and Nigeria (X%) displayed positive paces of growth. By contrast, Ghana (X%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Togo and Benin increased by X and X percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Togo ($X), Burkina Faso ($X) and Ghana ($X) were the countries with the highest levels of exports in 2022, together comprising X% of total exports. Cote d'Ivoire, Benin, Senegal and Nigeria lagged somewhat behind, together comprising a further X%.

Among the main exporting countries, Benin, with a CAGR of X%, saw the highest growth rate of the value of exports, 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 ton in 2022, dropping by X% against the previous year. Over the period under review, the export price recorded a abrupt downturn. The pace of growth was the most pronounced in 2018 when the export price increased by X%. The level of export peaked at $X per ton in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Ghana ($X per ton), while Nigeria ($X per ton) 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 export price figures.

Transmission Shaft Imports

Imports in Western Africa

In 2022, supplies from abroad of transmission shafts and cranks, bearing housings and plain shaft bearings, gears and gearing and articulated link chain increased by X% to X tons, rising for the sixth year in a row after three years of decline. Over the period under review, imports recorded resilient growth. The most prominent rate of growth was recorded in 2020 when imports increased by X%. The volume of import peaked in 2022 and is expected to retain growth in years to come.

In value terms, transmission shaft imports surged to $X in 2022. Total imports indicated a buoyant 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, imports increased by X% against 2016 indices. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

Nigeria prevails in imports structure, resulting at X tons, which was near X% of total imports in 2022. Ghana (X tons) ranks second in terms of the total imports with a X% share, followed by Burkina Faso (X%). Cote d'Ivoire (X tons) and Guinea (X tons) held a minor share of total imports.

Imports into Nigeria increased at an average annual rate of X% from 2012 to 2022. At the same time, Guinea (X%), Burkina Faso (X%), Cote d'Ivoire (X%) and Ghana (X%) displayed positive paces of growth. Moreover, Guinea emerged as the fastest-growing importer imported in Western Africa, with a CAGR of X% from 2012-2022. Burkina Faso (X p.p.) significantly strengthened its position in terms of the total imports, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Nigeria ($X) constitutes the largest market for imported transmission shafts and cranks, bearing housings and plain shaft bearings, gears and gearing and articulated link chain in Western Africa, comprising X% of total imports. The second position in the ranking was held by Ghana ($X), with an X% share of total imports. It was followed by Cote d'Ivoire, with a X% share.

From 2012 to 2022, the average annual growth rate of value in Nigeria stood at X%. In the other countries, the average annual rates were as follows: 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 ton, increasing by X% against the previous year. Overall, the import price, however, showed a perceptible decline. The most prominent rate of growth was recorded in 2014 an increase of X% against the previous year. The level of import peaked at $X per ton in 2015; however, from 2016 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 ($X per ton), while Nigeria ($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 a decline in the import price figures.

Source: IndexBox Platform

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