ECOWAS: Market for Air conditioning Machines without Refrigeration Unit 2025

Market Size for Air conditioning Machines without Refrigeration Unit in ECOWAS

The ECOWAS market for air conditioning machines without refrigeration unit soared to $X in 2022, jumping by 19% against the previous year. Overall, consumption continues to indicate a prominent expansion. Over the period under review, the market reached the peak level in 2022 and is expected to retain growth in the immediate term.

Production of Air conditioning Machines without Refrigeration Unit in ECOWAS

In value terms, production of air conditioning machines without refrigeration unit expanded slightly to $X in 2022 estimated in export price. In general, production saw a buoyant expansion. The pace of growth was the most pronounced in 2017 when the production volume increased by 38% against the previous year. Over the period under review, production of hit record highs at $X in 2020; however, from 2021 to 2022, production remained at a lower figure.

Exports of Air conditioning Machines without Refrigeration Unit

Exports in ECOWAS

In 2022, the amount of air conditioning machines without refrigeration unit exported in ECOWAS contracted markedly to X units, declining by -93.2% against the previous year's figure. Over the period under review, exports recorded a abrupt setback. The pace of growth was the most pronounced in 2021 with an increase of 1,731%. As a result, the exports attained the peak of X units, and then shrank significantly in the following year.

In value terms, exports of air conditioning machines without refrigeration unit reduced notably to $X in 2022. Overall, exports recorded a deep setback. The pace of growth appeared the most rapid in 2021 when exports increased by 1,531%. As a result, the exports attained the peak of $X, and then shrank significantly in the following year.

Exports by Country

Senegal was the largest exporter of air conditioning machines without refrigeration unit in ECOWAS, with the volume of exports finishing at X units, which was near 48% of total exports in 2022. It was distantly followed by Nigeria (X units), Ghana (X units) and Togo (X units), together making up a 50% share of total exports. Cote d'Ivoire (X units) followed a long way behind the leaders.

From 2012 to 2022, the biggest increases were recorded for Nigeria (with a CAGR of +14.9%), while shipments for the other leaders experienced a decline in the exports figures.

In value terms, Senegal ($X) remains the largest air conditioning machins without refrigeration unit supplier in ECOWAS, comprising 67% of total exports. The second position in the ranking was held by Nigeria ($X), with a 15% share of total exports. It was followed by Ghana, with an 11% share.

In Senegal, exports of air conditioning machines without refrigeration unit contracted by an average annual rate of -18.2% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Nigeria (+8.0% per year) and Ghana (-12.7% per year).

Export Prices by Country

The export price in ECOWAS stood at $X per unit in 2022, with a decrease of -14.5% against the previous year. In general, the export price, however, saw a measured increase. The growth pace was the most rapid in 2017 when the export price increased by 120%. As a result, the export price reached the peak level of $X per unit. From 2018 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Senegal ($X per unit), while Cote d'Ivoire ($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 (+8.5%), while the other leaders experienced mixed trends in the export price figures.

Imports of Air conditioning Machines without Refrigeration Unit

Imports in ECOWAS

In 2022, the amount of air conditioning machines without refrigeration unit imported in ECOWAS soared to X units, jumping by 96% compared with the previous year. Overall, imports showed a prominent expansion. The most prominent rate of growth was recorded in 2019 with an increase of 259% against the previous year. The volume of import peaked in 2022 and is expected to retain growth in years to come.

In value terms, imports of air conditioning machines without refrigeration unit skyrocketed to $X in 2022. Over the period under review, imports showed prominent growth. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

Nigeria dominates unit structure, accounting for X units, which was approx. 69% of total imports in 2022. Benin (X units) took a 9.1% share (based on physical terms) of total imports, which put it in second place, followed by Niger (7.2%). Togo (X units), Cote d'Ivoire (X units), Ghana (X units) and Senegal (X units) held a minor share of total imports.

Imports into Nigeria increased at an average annual rate of +20.8% from 2012 to 2022. At the same time, Niger (+61.6%), Benin (+35.0%), Senegal (+30.3%), Togo (+28.9%) and Cote d'Ivoire (+19.3%) displayed positive paces of growth. Moreover, Niger emerged as the fastest-growing importer imported in ECOWAS, with a CAGR of +61.6% from 2012-2022. Ghana experienced a relatively flat trend pattern. Nigeria (+8.2 p.p.), Niger (+6.9 p.p.), Benin (+6.5 p.p.) and Togo (+1.8 p.p.) significantly strengthened its position in terms of the total imports, while Ghana saw its share reduced by -12.4% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Nigeria ($X) constitutes the largest market for imported air conditioning machines without refrigeration unit in ECOWAS, comprising 73% of total imports. The second position in the ranking was taken by Benin ($X), with a 5.9% share of total imports. It was followed by Cote d'Ivoire, with a 5.4% share.

From 2012 to 2022, the average annual rate of growth in terms of value in Nigeria stood at +19.3%. In the other countries, the average annual rates were as follows: Benin (+21.5% per year) and Cote d'Ivoire (+17.3% per year).

Import Prices by Country

In 2022, the import price in ECOWAS amounted to $X per unit, rising by 4.8% against the previous year. Overall, the import price, however, showed a noticeable contraction. The most prominent rate of growth was recorded in 2020 when the import price increased by 68% against the previous year. Over the period under review, import prices reached the peak figure at $X per unit in 2015; however, from 2016 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 Cote d'Ivoire ($X per unit), while Niger ($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 (+5.0%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform