ECOWAS: Centrifugal Clothes-Dryer Market 2024

Centrifugal Clothes-Dryer Market Size in ECOWAS

In 2021, the ECOWAS centrifugal clothes-dryer market increased by 9.8% to $X, rising for the fifth consecutive year after three years of decline. Overall, consumption enjoyed a significant expansion. The level of consumption peaked in 2021 and is likely to see steady growth in the near future.

Centrifugal Clothes-Dryer Production in ECOWAS

In value terms, centrifugal clothes-dryer production shrank to $X in 2021 estimated in export price. Overall, production continues to indicate a abrupt decline. The most prominent rate of growth was recorded in 2020 with an increase of 12%. The level of production peaked at $X in 2012; however, from 2013 to 2021, production remained at a lower figure.

Centrifugal Clothes-Dryer Exports

Exports in ECOWAS

In 2021, shipments abroad of centrifugal clothes-dryers decreased by -8.1% to X units for the first time since 2018, thus ending a two-year rising trend. Over the period under review, exports, however, continue to indicate a mild increase. The most prominent rate of growth was recorded in 2015 when exports increased by 525% against the previous year. The volume of export peaked at X units in 2020, and then reduced in the following year.

In value terms, centrifugal clothes-dryer exports declined to $X in 2021. In general, exports, however, continue to indicate a strong expansion. The pace of growth appeared the most rapid in 2015 when exports increased by 353% against the previous year. The level of export peaked at $X in 2017; however, from 2018 to 2021, the exports failed to regain momentum.

Exports by Country

In 2021, Sierra Leone (X units) was the key exporter of centrifugal clothes-dryers, generating 68% of total exports. It was distantly followed by Ghana (X units), Mali (X units) and Nigeria (X units), together comprising a 29% share of total exports. Cote d'Ivoire (X units) followed a long way behind the leaders.

From 2012 to 2021, average annual rates of growth with regard to centrifugal clothes-dryer exports from Sierra Leone stood at +31.2%. At the same time, Mali (+33.3%), Nigeria (+18.9%) and Ghana (+3.2%) displayed positive paces of growth. Moreover, Mali emerged as the fastest-growing exporter exported in ECOWAS, with a CAGR of +33.3% from 2012-2021. Cote d'Ivoire experienced a relatively flat trend pattern. Sierra Leone (+61 p.p.), Mali (+12 p.p.), Nigeria (+5.9 p.p.), Cote d'Ivoire (+2.9 p.p.) and Ghana (+2.1 p.p.) significantly strengthened its position in terms of the total exports, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Sierra Leone ($X) remains the largest centrifugal clothes-dryer supplier in ECOWAS, comprising 67% of total exports. The second position in the ranking was held by Cote d'Ivoire ($X), with a 10% share of total exports. It was followed by Ghana, with a 9.9% share.

From 2012 to 2021, the average annual rate of growth in terms of value in Sierra Leone totaled +26.3%. In the other countries, the average annual rates were as follows: Cote d'Ivoire (+58.2% per year) and Ghana (+1.0% per year).

Export Prices by Country

In 2021, the export price in ECOWAS amounted to $X per unit, falling by -7% against the previous year. Over the period under review, the export price, however, recorded buoyant growth. The pace of growth was the most pronounced in 2017 when the export price increased by 194%. As a result, the export price attained the peak level of $X per unit. From 2018 to 2021, the export prices remained 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 ($X per unit), while Mali ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Cote d'Ivoire (+58.2%), while the other leaders experienced mixed trends in the export price figures.

Centrifugal Clothes-Dryer Imports

Imports in ECOWAS

For the fifth consecutive year, ECOWAS recorded growth in supplies from abroad of centrifugal clothes-dryers, which increased by 5.5% to X units in 2021. Over the period under review, imports posted a significant increase. The most prominent rate of growth was recorded in 2020 when imports increased by 843%. The volume of import peaked in 2021 and is likely to continue growth in the near future.

In value terms, centrifugal clothes-dryer imports soared to $X in 2021. Overall, imports recorded significant growth. The most prominent rate of growth was recorded in 2020 with an increase of 1,008%. The level of import peaked in 2021 and is likely to see steady growth in years to come.

Imports by Country

The purchases of the one major importers of centrifugal clothes-dryers, namely Nigeria, represented more than two-thirds of total import.

Nigeria was also the fastest-growing in terms of the centrifugal clothes-dryers imports, with a CAGR of +79.8% from 2012 to 2021. From 2012 to 2021, the share of Nigeria increased by +27 percentage points, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Nigeria ($X) constitutes the largest market for imported centrifugal clothes-dryers in ECOWAS.

From 2012 to 2021, the average annual growth rate of value in Nigeria totaled +76.8%.

Import Prices by Country

In 2021, the import price in ECOWAS amounted to $X per unit, rising by 29% against the previous year. Overall, the import price, however, showed a pronounced setback. The pace of growth appeared the most rapid in 2014 an increase of 160%. The level of import peaked at $X per unit in 2016; however, from 2017 to 2021, import prices remained at a lower figure.

As there is only one major supplying country, the average price level is determined by prices for Nigeria.

From 2012 to 2021, the rate of growth in terms of prices for Nigeria amounted to -1.7% per year.

Source: IndexBox Platform