ECOWAS: Market for Cooling Towers, Vacuum-Vapour Plants, And Other Machinery for Material Treatment by Heating or Cooling Process 2024

Market Size for Cooling Towers, Vacuum-Vapour Plants, And Other Machinery for Material Treatment by Heating or Cooling Process in ECOWAS

The ECOWAS market for cooling towers, vacuum-vapour plants, and other machinery for material treatment by heating or cooling process skyrocketed to $X in 2022, increasing by X% against the previous year. Overall, consumption showed significant growth. The level of consumption peaked at $X in 2019; however, from 2020 to 2022, consumption failed to regain momentum.

Production of Cooling Towers, Vacuum-Vapour Plants, And Other Machinery for Material Treatment by Heating or Cooling Process in ECOWAS

In value terms, production of cooling towers, vacuum-vapour plants, and other machinery for material treatment by heating or cooling process stood at $X in 2022 estimated in export price. The total production indicated a notable increase from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by X% against 2020 indices. The growth pace was the most rapid in 2016 with an increase of X% against the previous year. As a result, production reached the peak level of $X. From 2017 to 2022, production of growth failed to regain momentum.

Exports of Cooling Towers, Vacuum-Vapour Plants, And Other Machinery for Material Treatment by Heating or Cooling Process

Exports in ECOWAS

In 2022, approx. X units of cooling towers, vacuum-vapour plants, and other machinery for material treatment by heating or cooling process were exported in ECOWAS; growing by X% on 2021. In general, exports, however, continue to indicate a abrupt decrease. The volume of export peaked at X units in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

In value terms, exports of cooling towers, vacuum-vapour plants, and other machinery for material treatment by heating or cooling process stood at $X in 2022. Overall, exports, however, saw a deep slump. The pace of growth was the most pronounced in 2017 with an increase of X% against the previous year. The level of export peaked at $X in 2015; however, from 2016 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

The biggest shipments were from Togo (X units), Benin (X units) and Ghana (X units), together finishing at X% of total export. Cote d'Ivoire (X units) took the next position in the ranking, followed by Nigeria (X units) and Senegal (X units). All these countries together held near X% share of total exports. Cabo Verde (X units) held a relatively small share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the leading exporting countries, was attained by Benin (with a CAGR of X%), while the other leaders experienced more modest paces of growth.

In value terms, the largest machinery for material treatment by heating or cooling process supplying countries in ECOWAS were Nigeria ($X), Ghana ($X) and Senegal ($X), with a combined X% share of total exports. Cote d'Ivoire, Benin, Togo and Cabo Verde lagged somewhat behind, together accounting for a further X%.

Cabo Verde, with a CAGR of X%, saw the highest rates of growth with regard to the value of exports, among 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

In 2022, the export price in ECOWAS amounted to $X per unit, falling by X% against the previous year. Over the period under review, the export price continues to indicate a perceptible decrease. The pace of growth appeared the most rapid in 2017 when the export price increased by X%. Over the period under review, the export prices hit record highs at $X per unit in 2015; however, from 2016 to 2022, the export prices failed to regain momentum.

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 Nigeria ($X per unit), while Togo ($X per unit) was amongst the lowest.

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

Imports of Cooling Towers, Vacuum-Vapour Plants, And Other Machinery for Material Treatment by Heating or Cooling Process

Imports in ECOWAS

In 2022, the amount of cooling towers, vacuum-vapour plants, and other machinery for material treatment by heating or cooling process imported in ECOWAS skyrocketed to X units, rising by X% against 2021 figures. In general, imports recorded a significant expansion. The pace of growth appeared the most rapid in 2016 when imports increased by X%. The volume of import peaked at X units in 2019; however, from 2020 to 2022, imports stood at a somewhat lower figure.

In value terms, imports of cooling towers, vacuum-vapour plants, and other machinery for material treatment by heating or cooling process soared to $X in 2022. Overall, imports recorded strong growth. The growth pace was the most rapid in 2016 when imports increased by X%. Over the period under review, imports of hit record highs at $X in 2019; however, from 2020 to 2022, imports stood at a somewhat lower figure.

Imports by Country

The countries with the highest levels of imports of cooling towers, vacuum-vapour plants, and other machinery for material treatment by heating or cooling process in 2022 were Nigeria (X units), together recording X% of total import.

Nigeria was also the fastest-growing in terms of the cooling towers, vacuum-vapour plants, and other machinery for material treatment by heating or cooling process imports, with a CAGR of X% from 2012 to 2022. While the share of Nigeria (X p.p.) increased significantly, the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Nigeria ($X) constitutes the largest market for imported cooling towers, vacuum-vapour plants, and other machinery for material treatment by heating or cooling process in ECOWAS.

From 2012 to 2022, the average annual rate of growth in terms of value in Nigeria amounted to X%.

Import Prices by Country

In 2022, the import price in ECOWAS amounted to $X per unit, waning by X% against the previous year. Overall, the import price recorded a abrupt slump. The pace of growth was the most pronounced in 2014 an increase of X% against the previous year. The level of import peaked at $X per unit in 2016; however, from 2017 to 2022, 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 2022, the rate of growth in terms of prices for Nigeria amounted to X% per year.

Source: IndexBox Platform