ECOWAS: Market for Diesel Engines (Other Than For Motor Vehicles And Aircraft) 2025

Market Size for Diesel Engines (Other Than For Motor Vehicles And Aircraft) in ECOWAS

The ECOWAS market for diesel engines (other than for motor vehicles and aircraft) rose markedly to $X in 2022, increasing by 6.2% against the previous year. The total consumption indicated perceptible growth from 2012 to 2022: its value increased at an average annual rate of +3.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by -16.4% against 2020 indices. As a result, consumption attained the peak level of $X. From 2021 to 2022, the growth of the market remained at a somewhat lower figure.

Production of Diesel Engines (Other Than For Motor Vehicles And Aircraft) in ECOWAS

In value terms, production of diesel engines (other than for motor vehicles and aircraft) shrank to $X in 2022 estimated in export price. In general, production, however, continues to indicate a resilient expansion. The most prominent rate of growth was recorded in 2019 when the production volume increased by 55%. As a result, production reached the peak level of $X. From 2020 to 2022, production of growth remained at a lower figure.

Exports of Diesel Engines (Other Than For Motor Vehicles And Aircraft)

Exports in ECOWAS

In 2022, the amount of diesel engines (other than for motor vehicles and aircraft) exported in ECOWAS totaled X units, picking up by 7% on the previous year. Total exports indicated notable growth from 2012 to 2022: its volume increased at an average annual rate of +3.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports decreased by -20.3% against 2020 indices. The growth pace was the most rapid in 2014 with an increase of 80%. The volume of export peaked at X units in 2016; however, from 2017 to 2022, the exports failed to regain momentum.

In value terms, exports of diesel engines (other than for motor vehicles and aircraft) skyrocketed to $X in 2022. Over the period under review, exports posted a resilient increase. The pace of growth appeared the most rapid in 2014 with an increase of 110% against the previous year. The level of export peaked at $X in 2018; however, from 2019 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Burkina Faso represented the key exporter of diesel engines (other than for motor vehicles and aircraft) in ECOWAS, with the volume of exports finishing at X units, which was approx. 34% of total exports in 2022. It was distantly followed by Senegal (X units), Mali (X units), Nigeria (X units), Ghana (X units), Cote d'Ivoire (X units) and Guinea (X units), together comprising a 57% share of total exports.

From 2012 to 2022, the biggest increases were recorded for Guinea (with a CAGR of +13.1%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Burkina Faso ($X) remains the largest diesel engines (other than for motor vehicles and aircraft) supplier in ECOWAS, comprising 43% of total exports. The second position in the ranking was taken by Senegal ($X), with a 20% share of total exports. It was followed by Mali, with an 11% share.

In Burkina Faso, exports of diesel engines (other than for motor vehicles and aircraft) expanded at an average annual rate of +11.4% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Senegal (+11.0% per year) and Mali (+0.3% per year).

Export Prices by Country

In 2022, the export price in ECOWAS amounted to $X per unit, surging by 35% against the previous year. Export price indicated a pronounced expansion from 2012 to 2022: its price increased at an average annual rate of +2.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, export price for diesel engines (other than for motor vehicles and aircraft) decreased by -8.7% against 2018 indices. Over the period under review, the export prices reached the peak figure at $X per unit in 2018; however, from 2019 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 Burkina Faso ($X per unit), while Cote d'Ivoire ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Nigeria (+31.5%), while the other leaders experienced more modest paces of growth.

Imports of Diesel Engines (Other Than For Motor Vehicles And Aircraft)

Imports in ECOWAS

In 2022, imports of diesel engines (other than for motor vehicles and aircraft) in ECOWAS soared to X units, jumping by 30% compared with the previous year. In general, imports saw strong growth. The pace of growth was the most pronounced in 2020 with an increase of 191% against the previous year. As a result, imports attained the peak of X units. From 2021 to 2022, the growth of imports of failed to regain momentum.

In value terms, imports of diesel engines (other than for motor vehicles and aircraft) expanded rapidly to $X in 2022. Over the period under review, imports, however, saw a relatively flat trend pattern. The growth pace was the most rapid in 2020 when imports increased by 153%. As a result, imports attained the peak of $X. From 2021 to 2022, the growth of imports of failed to regain momentum.

Imports by Country

In 2022, Mali (X units), distantly followed by Ghana (X units), Senegal (X units), Guinea (X units), Cote d'Ivoire (X units), Burkina Faso (X units) and Nigeria (X units) represented the key importers of diesel engines (other than for motor vehicles and aircraft), together mixing up 92% 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 Mali (with a CAGR of +24.8%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest diesel engines (other than for motor vehicles and aircraft) importing markets in ECOWAS were Ghana ($X), Senegal ($X) and Guinea ($X), with a combined 60% share of total imports.

Guinea, with a CAGR of +17.3%, saw the highest growth rate of the value of imports, in terms of 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, reducing by -16.5% against the previous year. Overall, the import price continues to indicate a abrupt slump. The most prominent rate of growth was recorded in 2018 when the import price increased by 132% against the previous year. The level of import peaked at $X per unit in 2012; however, from 2013 to 2022, import prices remained at a lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Guinea (+6.2%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform