ECOWAS: Agricultural Product Dryer Market 2024

Agricultural Product Dryer Market Size in ECOWAS

The ECOWAS agricultural product dryer market rose remarkably to $X in 2021, increasing by 13% against the previous year. The total consumption indicated tangible growth from 2012 to 2021: its value increased at an average annual rate of +2.1% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +4.8% against 2018 indices. Over the period under review, the market reached the peak level in 2021 and is expected to retain growth in the immediate term.

Agricultural Product Dryer Production in ECOWAS

In value terms, agricultural product dryer production rose to $X in 2021 estimated in export price. Overall, production saw a perceptible shrinkage. The most prominent rate of growth was recorded in 2017 when the production volume increased by 31% against the previous year. Over the period under review, production hit record highs at $X in 2012; however, from 2013 to 2021, production failed to regain momentum.

Agricultural Product Dryer Exports

Exports in ECOWAS

In 2021, shipments abroad of dryers for the treatment of agricultural products decreased by 0% to X units, falling for the second consecutive year after two years of decline. In general, exports recorded a deep reduction. The pace of growth appeared the most rapid in 2016 with an increase of 150% against the previous year. Over the period under review, the exports attained the maximum at X units in 2017; however, from 2018 to 2021, the exports failed to regain momentum.

In value terms, agricultural product dryer exports reduced remarkably to $X in 2021. Overall, exports faced a significant decrease. The pace of growth was the most pronounced in 2019 when exports increased by 2,058% against the previous year. The level of export peaked at $X in 2013; however, from 2014 to 2021, the exports failed to regain momentum.

Exports by Country

The biggest shipments were from Cote d'Ivoire (X units), together reaching 100% of total export.

Cote d'Ivoire was also the fastest-growing in terms of the dryers for the treatment of agricultural products exports, with a CAGR of -7.4% from 2012 to 2021. From 2012 to 2021, the share of Cote d'Ivoire increased by +33 percentage points, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Cote d'Ivoire ($X) also remains the largest agricultural product dryer supplier in ECOWAS.

From 2012 to 2021, the average annual rate of growth in terms of value in Cote d'Ivoire amounted to -23.7%.

Export Prices by Country

In 2021, the export price in ECOWAS amounted to $X per unit, waning by -86% against the previous year. Overall, the export price saw a dramatic setback. The most prominent rate of growth was recorded in 2018 when the export price increased by 152% against the previous year. As a result, the export price attained the peak level of $X per unit. From 2019 to 2021, the export prices remained at a lower figure.

As there is only one major export destination, the average price level is determined by prices for Cote d'Ivoire.

From 2012 to 2021, the rate of growth in terms of prices for Cote d'Ivoire amounted to -18.0% per year.

Agricultural Product Dryer Imports

Imports in ECOWAS

In 2021, agricultural product dryer imports in ECOWAS soared to X units, surging by 55% against 2020 figures. Overall, imports showed a mild increase. The pace of growth was the most pronounced in 2018 when imports increased by 113%. Over the period under review, imports reached the peak figure in 2021 and are likely to continue growth in the immediate term.

In value terms, agricultural product dryer imports soared to $X in 2021. In general, imports recorded a resilient increase. The growth pace was the most rapid in 2020 when imports increased by 228%. Over the period under review, imports attained the maximum in 2021 and are expected to retain growth in the immediate term.

Imports by Country

In 2021, Nigeria (X units) and Ghana (X units) represented the key importers of dryers for the treatment of agricultural products in ECOWAS, together resulting at approx. 67% of total imports. Sierra Leone (X units) held the next position in the ranking, followed by Cote d'Ivoire (X units) and Senegal (X units). All these countries together held approx. 17% share of total imports. The following importers - Benin (X units) and Gambia (X units) - each finished at an 8.6% share of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by Nigeria (with a CAGR of +18.7%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Nigeria ($X) constitutes the largest market for imported dryers for the treatment of agricultural products in ECOWAS, comprising 69% of total imports. The second position in the ranking was taken by Cote d'Ivoire ($X), with a 20% share of total imports. It was followed by Ghana, with a 5.1% share.

In Nigeria, agricultural product dryer imports increased at an average annual rate of +19.8% over the period from 2012-2021. In the other countries, the average annual rates were as follows: Cote d'Ivoire (+31.4% per year) and Ghana (-8.7% per year).

Import Prices by Country

In 2021, the import price in ECOWAS amounted to $X per unit, picking up by 3% against the previous year. In general, the import price enjoyed a buoyant expansion. The pace of growth appeared the most rapid in 2013 an increase of 401% against the previous year. As a result, import price reached the peak level of $X per unit. From 2014 to 2021, the import prices failed to regain momentum.

There were significant differences in the average prices amongst the major importing countries. In 2021, amid the top importers, the country with the highest price was Cote d'Ivoire ($X per unit), while Gambia ($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 (+16.3%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform