ECOWAS: Gravimetric Filling Machine Market 2024

Gravimetric Filling Machine Market Size in ECOWAS

The ECOWAS gravimetric filling machine market skyrocketed to $X in 2022, picking up by 25% against the previous year. In general, consumption enjoyed significant growth. As a result, consumption reached the peak level of $X. From 2021 to 2022, the growth of the market failed to regain momentum.

Gravimetric Filling Machine Production in ECOWAS

In value terms, gravimetric filling machine production surged to $X in 2022 estimated in export price. Overall, production continues to indicate significant growth. The pace of growth appeared the most rapid in 2020 with an increase of 412%. As a result, production reached the peak level of $X. From 2021 to 2022, production growth failed to regain momentum.

Gravimetric Filling Machine Exports

Exports in ECOWAS

Gravimetric filling machine exports shrank sharply to X units in 2022, waning by -32.6% against 2021 figures. In general, exports continue to indicate a abrupt descent. The most prominent rate of growth was recorded in 2017 with an increase of 21,741% against the previous year. As a result, the exports attained the peak of X units. From 2018 to 2022, the growth of the exports failed to regain momentum.

In value terms, gravimetric filling machine exports shrank to $X in 2022. Overall, exports, however, continue to indicate a resilient expansion. The most prominent rate of growth was recorded in 2013 with an increase of 59% against the previous year. Over the period under review, the exports hit record highs at $X in 2019; however, from 2020 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Gambia represented the largest exporter of automatic gravimetric filling machines in ECOWAS, with the volume of exports reaching X units, which was approx. 69% of total exports in 2022. Senegal (X units) took a 10% share (based on physical terms) of total exports, which put it in second place, followed by Benin (6.9%), Ghana (6.9%) and Togo (6.9%).

Gambia was also the fastest-growing in terms of the automatic gravimetric filling machines exports, with a CAGR of +17.5% from 2012 to 2022. Senegal (-6.7%), Togo (-12.9%), Ghana (-21.3%) and Benin (-24.0%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Gambia and Senegal increased by +63 and +1.9 percentage points, respectively.

In value terms, Gambia ($X) remains the largest gravimetric filling machine supplier in ECOWAS, comprising 65% of total exports. The second position in the ranking was taken by Togo ($X), with a 22% share of total exports. It was followed by Benin, with an 8.1% share.

From 2012 to 2022, the average annual growth rate of value in Gambia totaled +12.9%. The remaining exporting countries recorded the following average annual rates of exports growth: Togo (+2.0% per year) and Benin (+10.2% per year).

Export Prices by Country

In 2022, the export price in ECOWAS amounted to $X per unit, rising by 30% against the previous year. In general, the export price recorded a strong expansion. The most prominent rate of growth was recorded in 2018 an increase of 49,922%. Over the period under review, the export prices attained the maximum in 2022 and is expected to retain growth in years to come.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Togo ($X per unit), while Ghana ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Benin (+44.9%), while the other leaders experienced more modest paces of growth.

Gravimetric Filling Machine Imports

Imports in ECOWAS

In 2022, approx. X units of automatic gravimetric filling machines were imported in ECOWAS; increasing by 22% compared with the year before. Over the period under review, imports enjoyed a significant increase. The most prominent rate of growth was recorded in 2020 when imports increased by 115% against the previous year. As a result, imports attained the peak of X units. From 2021 to 2022, the growth of imports failed to regain momentum.

In value terms, gravimetric filling machine imports dropped markedly to $X in 2022. In general, imports showed a prominent increase. The pace of growth was the most pronounced in 2017 with an increase of 231%. Over the period under review, imports attained the peak figure at $X in 2020; however, from 2021 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, Nigeria (X units) and Senegal (X units) represented the largest importers of automatic gravimetric filling machines in ECOWAS, together amounting to approx. 68% of total imports. Cote d'Ivoire (X units) took the next position in the ranking, followed by Ghana (X units) and Gambia (X units). All these countries together took near 24% share of total imports. Benin (X units) took a minor share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by Nigeria (with a CAGR of +38.3%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Nigeria ($X) constitutes the largest market for imported automatic gravimetric filling machines in ECOWAS, comprising 60% of total imports. The second position in the ranking was held by Ghana ($X), with a 15% share of total imports. It was followed by Senegal, with a 9.1% share.

In Nigeria, gravimetric filling machine imports expanded at an average annual rate of +26.5% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Ghana (+11.9% per year) and Senegal (+14.9% per year).

Import Prices by Country

In 2022, the import price in ECOWAS amounted to $X per unit, dropping by -54.9% against the previous year. Overall, the import price showed a abrupt curtailment. The pace of growth was the most pronounced in 2015 an increase of 98% against the previous year. Over the period under review, import prices reached the peak figure at $X per unit in 2018; however, from 2019 to 2022, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Ghana ($X per unit), while Gambia ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Gambia (-1.0%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform