ECOWAS: Market for Ballasts For Discharge Lamps Or Tubes 2024

Market Size for Ballasts For Discharge Lamps Or Tubes in ECOWAS

In 2021, after three years of growth, there was significant decline in the ECOWAS ballast for discharge lamp market, when its value decreased by -36.5% to $X. Over the period under review, consumption continues to indicate a abrupt curtailment. Over the period under review, the market reached the peak level at $X in 2015; however, from 2016 to 2021, consumption stood at a somewhat lower figure.

Production of Ballasts For Discharge Lamps Or Tubes in ECOWAS

In value terms, ballast for discharge lamp production reduced to $X in 2021 estimated in export price. Overall, production showed a noticeable decline. The growth pace was the most rapid in 2020 with an increase of 23%. Over the period under review, production attained the peak level at $X in 2013; however, from 2014 to 2021, production failed to regain momentum.

Exports of Ballasts For Discharge Lamps Or Tubes

Exports in ECOWAS

After two years of decline, shipments abroad of ballasts for discharge lamps or tubes increased by 144% to X units in 2021. Over the period under review, exports, however, showed a abrupt decline. The pace of growth was the most pronounced in 2018 with an increase of 189% against the previous year. The volume of export peaked at X units in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

In value terms, ballast for discharge lamp exports soared to $X in 2021. Overall, exports recorded slight growth. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

In 2021, Niger (X units), distantly followed by Cote d'Ivoire (X units), Nigeria (X units) and Senegal (X units) were the key exporters of ballasts for discharge lamps or tubes, together achieving 96% of total exports. Mali (X units) followed a long way behind the leaders.

From 2012 to 2021, the biggest increases were in Nigeria (with a CAGR of +34.6%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Nigeria ($X), Niger ($X) and Cote d'Ivoire ($X) were the countries with the highest levels of exports in 2021, with a combined 93% share of total exports.

Nigeria, with a CAGR of +45.1%, 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 more modest paces of growth.

Export Prices by Country

The export price in ECOWAS stood at $X per unit in 2021, increasing by 103% against the previous year. Over the period under review, the export price continues to indicate a strong increase. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably country of origin: the country with the highest price was Nigeria ($X per unit), while Mali ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Nigeria (+7.8%), while the other leaders experienced more modest paces of growth.

Imports of Ballasts For Discharge Lamps Or Tubes

Imports in ECOWAS

In 2021, overseas purchases of ballasts for discharge lamps or tubes decreased by -73.2% to X units for the first time since 2017, thus ending a three-year rising trend. Over the period under review, imports showed a deep reduction. The pace of growth was the most pronounced in 2015 when imports increased by 84% against the previous year. As a result, imports reached the peak of X units. From 2016 to 2021, the growth of imports remained at a somewhat lower figure.

In value terms, ballast for discharge lamp imports shrank rapidly to $X in 2021. In general, imports recorded a dramatic downturn. The pace of growth was the most pronounced in 2019 when imports increased by 83% against the previous year. Over the period under review, imports reached the maximum at $X in 2015; however, from 2016 to 2021, imports stood at a somewhat lower figure.

Imports by Country

Nigeria represented the key importing country with an import of about X units, which recorded 76% of total imports. Ghana (X units) held the second position in the ranking, followed by Cote d'Ivoire (X units). All these countries together held near 15% share of total imports. Senegal (X units) followed a long way behind the leaders.

Imports into Nigeria decreased at an average annual rate of -20.1% from 2012 to 2021. At the same time, Senegal (+29.5%) and Ghana (+12.6%) displayed positive paces of growth. Moreover, Senegal emerged as the fastest-growing importer imported in ECOWAS, with a CAGR of +29.5% from 2012-2021. Cote d'Ivoire experienced a relatively flat trend pattern. From 2012 to 2021, the share of Ghana, Cote d'Ivoire and Senegal increased by +9.8, +4.2 and +3.4 percentage points, respectively.

In value terms, Nigeria ($X) constitutes the largest market for imported ballasts for discharge lamps or tubes in ECOWAS, comprising 81% of total imports. The second position in the ranking was held by Ghana ($X), with a 6% share of total imports. It was followed by Cote d'Ivoire, with a 4.3% share.

From 2012 to 2021, the average annual growth rate of value in Nigeria stood at -22.6%. The remaining importing countries recorded the following average annual rates of imports growth: Ghana (-0.8% per year) and Cote d'Ivoire (-0.7% per year).

Import Prices by Country

In 2021, the import price in ECOWAS amounted to $X per unit, waning by -42% against the previous year. Overall, the import price saw a pronounced reduction. The pace of growth appeared the most rapid in 2016 an increase of 38%. Over the period under review, import prices reached the maximum at $X per unit in 2019; however, from 2020 to 2021, import prices stood at a somewhat lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Cote d'Ivoire (-0.7%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform