ECOWAS: Circuit Breaker Market 2025

Circuit Breaker Market Size in ECOWAS

The ECOWAS circuit breaker market totaled $X in 2022, almost unchanged from the previous year. The market value increased at an average annual rate of +3.1% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The level of consumption peaked at $X in 2020; however, from 2021 to 2022, consumption failed to regain momentum.

Circuit Breaker Production in ECOWAS

In value terms, circuit breaker production shrank slightly to $X in 2022 estimated in export price. In general, production recorded a mild shrinkage. The most prominent rate of growth was recorded in 2016 when the production volume increased by 46%. Over the period under review, production hit record highs at $X in 2013; however, from 2014 to 2022, production failed to regain momentum.

Circuit Breaker Exports

Exports in ECOWAS

In 2022, overseas shipments of automatic circuit breakers increased by 21% to X units, rising for the second consecutive year after two years of decline. Over the period under review, exports, however, continue to indicate a mild reduction. The most prominent rate of growth was recorded in 2018 when exports increased by 94%. The volume of export peaked at X units in 2014; however, from 2015 to 2022, the exports stood at a somewhat lower figure.

In value terms, circuit breaker exports soared to $X in 2022. In general, exports, however, continue to indicate a drastic downturn. The growth pace was the most rapid in 2018 with an increase of 37% against the previous year. The level of export peaked at $X in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Nigeria was the main exporter of automatic circuit breakers in ECOWAS, with the volume of exports amounting to X units, which was approx. 45% of total exports in 2022. Sierra Leone (X units) ranks second in terms of the total exports with a 20% share, followed by Togo (13%) and Senegal (9.7%). The following exporters - Burkina Faso (X units), Niger (X units) and Cote d'Ivoire (X units) - together made up 8.2% of total exports.

Exports from Nigeria decreased at an average annual rate of -1.7% from 2012 to 2022. At the same time, Sierra Leone (+4.9%) and Togo (+2.8%) displayed positive paces of growth. Moreover, Sierra Leone emerged as the fastest-growing exporter exported in ECOWAS, with a CAGR of +4.9% from 2012-2022. Niger experienced a relatively flat trend pattern. By contrast, Burkina Faso (-2.6%), Senegal (-3.6%) and Cote d'Ivoire (-14.3%) illustrated a downward trend over the same period. Sierra Leone (+9.8 p.p.) and Togo (+5 p.p.) significantly strengthened its position in terms of the total exports, while Senegal and Cote d'Ivoire saw its share reduced by -1.9% and -4.6% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest circuit breaker supplying countries in ECOWAS were Cote d'Ivoire ($X), Senegal ($X) and Sierra Leone ($X), together comprising 67% of total exports.

Senegal, with a CAGR of +5.3%, recorded the highest rates of growth with regard to the value of exports, in terms of the main exporting countries over the period under review, while shipments for the other leaders experienced mixed trends in the exports figures.

Export Prices by Country

In 2022, the export price in ECOWAS amounted to $X per unit, with a decrease of -4.9% against the previous year. In general, the export price showed a abrupt decrease. The most prominent rate of growth was recorded in 2015 when the export price increased by 91%. The level of export peaked at $X per unit 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 Cote d'Ivoire ($X per unit), while Togo ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Cote d'Ivoire (+11.5%), while the other leaders experienced mixed trends in the export price figures.

Circuit Breaker Imports

Imports in ECOWAS

In 2022, purchases abroad of automatic circuit breakers decreased by -4.7% to X units, falling for the second consecutive year after two years of growth. Over the period under review, imports, however, continue to indicate a strong expansion. The growth pace was the most rapid in 2017 with an increase of 104%. The volume of import peaked at X units in 2020; however, from 2021 to 2022, imports remained at a lower figure.

In value terms, circuit breaker imports rose markedly to $X in 2022. Overall, imports, however, continue to indicate a buoyant increase. The most prominent rate of growth was recorded in 2017 when imports increased by 162% against the previous year. As a result, imports reached the peak of $X. From 2018 to 2022, the growth of imports remained at a lower figure.

Imports by Country

Nigeria was the main importer of automatic circuit breakers in ECOWAS, with the volume of imports resulting at X units, which was approx. 40% of total imports in 2022. Cote d'Ivoire (X units) held a 15% share (based on physical terms) of total imports, which put it in second place, followed by Senegal (10%), Ghana (10%), Togo (9.3%) and Guinea (5%). Mali (X units) held a relatively small share of total imports.

From 2012 to 2022, average annual rates of growth with regard to circuit breaker imports into Nigeria stood at +4.3%. At the same time, Togo (+36.4%), Cote d'Ivoire (+12.6%), Senegal (+12.4%), Guinea (+12.2%), Mali (+7.2%) and Ghana (+2.9%) displayed positive paces of growth. Moreover, Togo emerged as the fastest-growing importer imported in ECOWAS, with a CAGR of +36.4% from 2012-2022. From 2012 to 2022, the share of Togo, Cote d'Ivoire, Senegal and Guinea increased by +8.5, +6.3, +4.2 and +2 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Nigeria ($X) constitutes the largest market for imported automatic circuit breakers in ECOWAS, comprising 42% of total imports. The second position in the ranking was held by Cote d'Ivoire ($X), with a 20% share of total imports. It was followed by Ghana, with a 13% share.

In Nigeria, circuit breaker imports expanded at an average annual rate of +10.8% over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: Cote d'Ivoire (+10.8% per year) and Ghana (-2.3% per year).

Import Prices by Country

In 2022, the import price in ECOWAS amounted to $X per unit, surging by 14% against the previous year. In general, the import price saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 when the import price increased by 73%. Over the period under review, import prices attained the maximum at $X per unit in 2017; however, from 2018 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 ($X per unit), while Togo ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Nigeria (+6.2%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform