ECOWAS: Bulldozer Market 2024

Bulldozer Market Size in ECOWAS

In 2022, the ECOWAS bulldozer market increased by 52% to $X for the first time since 2019, thus ending a two-year declining trend. In general, consumption showed a resilient expansion. As a result, consumption reached the peak level of $X. From 2017 to 2022, the growth of the market remained at a lower figure.

Bulldozer Production in ECOWAS

In value terms, bulldozer production fell notably to $X in 2022 estimated in export price. Over the period under review, production showed a drastic downturn. The most prominent rate of growth was recorded in 2016 when the production volume increased by 551,502%. As a result, production reached the peak level of $X. From 2017 to 2022, production growth remained at a lower figure.

Bulldozer Exports

Exports in ECOWAS

In 2022, bulldozer exports in ECOWAS shrank to X units, dropping by -2.3% compared with 2021 figures. In general, exports recorded a abrupt downturn. The pace of growth was the most pronounced in 2016 when exports increased by 51,573% against the previous year. As a result, the exports attained the peak of X units. From 2017 to 2022, the growth of the exports remained at a lower figure.

In value terms, bulldozer exports declined significantly to $X in 2022. Over the period under review, exports recorded a deep contraction. The most prominent rate of growth was recorded in 2019 when exports increased by 107%. 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

Burkina Faso (X units), Cote d'Ivoire (X units), Niger (X units), Mali (X units), Benin (X units), Ghana (X units), Senegal (X units), Gambia (X units), Nigeria (X units) and Togo (X units) represented roughly 97% of total exports in 2022.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the leading exporting countries, was attained by Gambia (with a CAGR of +3.4%), while the other leaders experienced mixed trends in the exports figures.

In value terms, the largest bulldozer supplying countries in ECOWAS were Burkina Faso ($X), Cote d'Ivoire ($X) and Niger ($X), together comprising 54% of total exports. Mali, Ghana, Benin, Togo, Senegal, Gambia and Nigeria lagged somewhat behind, together accounting for a further 44%.

Benin, with a CAGR of -2.1%, recorded the highest growth rate of the value of exports, in terms of the main exporting countries over the period under review, while shipments for the other leaders experienced a decline in the exports figures.

Export Prices by Country

The export price in ECOWAS stood at $X per unit in 2022, falling by -20.1% against the previous year. Over the period under review, the export price saw a perceptible descent. The pace of growth was the most pronounced in 2017 when the export price increased by 30,743% against the previous year. Over the period under review, the export prices attained the maximum at $X per unit in 2013; however, from 2014 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 Burkina Faso ($X per unit), while Gambia ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Ghana (+2.2%), while the other leaders experienced a decline in the export price figures.

Bulldozer Imports

Imports in ECOWAS

In 2022, overseas purchases of bulldozers and angle dozers were finally on the rise to reach X units after two years of decline. Total imports indicated a resilient increase from 2012 to 2022: its volume increased at an average annual rate of +5.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, bulldozer imports surged to $X in 2022. Total imports indicated noticeable growth from 2012 to 2022: its value increased at an average annual rate of +3.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2022, Nigeria (X units) was the largest importer of bulldozers and angle dozers, creating 37% of total imports. Burkina Faso (X units) held a 14% share (based on physical terms) of total imports, which put it in second place, followed by Ghana (12%), Cote d'Ivoire (11%), Guinea (6.5%) and Senegal (5.9%). Mali (X units) followed a long way behind the leaders.

From 2012 to 2022, average annual rates of growth with regard to bulldozer imports into Nigeria stood at +5.7%. At the same time, Burkina Faso (+14.6%), Cote d'Ivoire (+10.9%), Mali (+5.3%), Guinea (+3.6%), Senegal (+3.6%) and Ghana (+1.7%) displayed positive paces of growth. Moreover, Burkina Faso emerged as the fastest-growing importer imported in ECOWAS, with a CAGR of +14.6% from 2012-2022. Burkina Faso (+7.9 p.p.), Cote d'Ivoire (+4.7 p.p.) and Nigeria (+1.7 p.p.) significantly strengthened its position in terms of the total imports, while Ghana saw its share reduced by -4.8% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Nigeria ($X), Burkina Faso ($X) and Ghana ($X) constituted the countries with the highest levels of imports in 2022, with a combined 60% share of total imports.

Burkina Faso, with a CAGR of +13.5%, saw the highest rates of growth with regard to the value of imports, among the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in ECOWAS stood at $X per unit in 2022, waning by -10.8% against the previous year. Over the period under review, the import price recorded a mild descent. The growth pace was the most rapid in 2018 an increase of 46%. As a result, import price reached the peak level of $X per unit. From 2019 to 2022, the import prices remained at a somewhat 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 Burkina Faso ($X per unit), while Nigeria ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Mali (+5.0%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform