ECOWAS: Off-Highway Dumper Market 2024

Off-Highway Dumper Market Size in ECOWAS

The ECOWAS off-highway dumper market surged to $X in 2021, growing by 21% against the previous year. Overall, consumption showed a tangible expansion. The level of consumption peaked in 2021 and is likely to continue growth in the immediate term.

Off-Highway Dumper Production in ECOWAS

In value terms, off-highway dumper production fell to $X in 2021 estimated in export price. Over the period under review, production continues to indicate a noticeable contraction. The most prominent rate of growth was recorded in 2018 when the production volume increased by 50% against the previous year. As a result, production reached the peak level of $X. From 2019 to 2021, production growth remained at a somewhat lower figure.

Off-Highway Dumper Exports

Exports in ECOWAS

In 2021, the amount of dumpers for off-highway use exported in ECOWAS skyrocketed to X units, surging by 71% compared with 2020 figures. In general, exports continue to indicate buoyant growth. The pace of growth was the most pronounced in 2019 with an increase of 95%. The volume of export peaked in 2021 and is expected to retain growth in years to come.

In value terms, off-highway dumper exports soared to $X in 2021. Over the period under review, exports saw significant growth. The growth pace was the most rapid in 2019 with an increase of 133%. The level of export peaked in 2021 and is likely to see steady growth in the near future.

Exports by Country

Burkina Faso represented the major exporter of dumpers for off-highway use in ECOWAS, with the volume of exports resulting at X units, which was approx. 43% of total exports in 2021. Senegal (X units) took the second position in the ranking, followed by Cote d'Ivoire (X units) and Mali (X units). All these countries together took approx. 51% share of total exports. The following exporters - Ghana (X units) and Guinea (X units) - together made up 5.4% of total exports.

Exports from Burkina Faso increased at an average annual rate of +36.1% from 2012 to 2021. At the same time, Mali (+52.5%), Cote d'Ivoire (+41.7%), Guinea (+16.8%), Ghana (+16.7%) and Senegal (+6.3%) displayed positive paces of growth. Moreover, Mali emerged as the fastest-growing exporter exported in ECOWAS, with a CAGR of +52.5% from 2012-2021. Burkina Faso (+33 p.p.), Cote d'Ivoire (+16 p.p.) and Mali (+9.8 p.p.) significantly strengthened its position in terms of the total exports, while Senegal saw its share reduced by -23.2% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Burkina Faso ($X) emerged as the largest off-highway dumper supplier in ECOWAS, comprising 48% of total exports. The second position in the ranking was taken by Senegal ($X), with a 20% share of total exports. It was followed by Cote d'Ivoire, with a 16% share.

From 2012 to 2021, the average annual rate of growth in terms of value in Burkina Faso stood at +41.7%. The remaining exporting countries recorded the following average annual rates of exports growth: Senegal (+11.6% per year) and Cote d'Ivoire (+47.6% per year).

Export Prices by Country

In 2021, the export price in ECOWAS amounted to $X per unit, rising by 23% against the previous year. Export price indicated temperate growth from 2012 to 2021: its price increased at an average annual rate of +4.7% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, off-highway dumper export price increased by +131.1% against 2015 indices. The growth pace was the most rapid in 2016 when the export price increased by 40% against the previous year. The level of export peaked in 2021 and is likely to see steady growth in years to come.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Mali (+10.5%), while the other leaders experienced more modest paces of growth.

Off-Highway Dumper Imports

Imports in ECOWAS

For the third consecutive year, ECOWAS recorded growth in overseas purchases of dumpers for off-highway use, which increased by 46% to X units in 2021. Over the period under review, imports, however, showed a relatively flat trend pattern. Over the period under review, imports attained the maximum at X units in 2012; however, from 2013 to 2021, imports remained at a lower figure.

In value terms, off-highway dumper imports surged to $X in 2021. In general, imports showed a noticeable increase. The pace of growth was the most pronounced in 2017 with an increase of 41% against the previous year. Over the period under review, imports hit record highs in 2021 and are expected to retain growth in the near future.

Imports by Country

Nigeria (X units) and Ghana (X units) represented the largest importers of dumpers for off-highway use in 2021, finishing at approx. 31% and 26% of total imports, respectively. Mali (X units) took a 13% share (based on physical terms) of total imports, which put it in second place, followed by Senegal (8.1%), Guinea (5.6%) and Cote d'Ivoire (5.2%). Burkina Faso (X units) followed a long way behind the leaders.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by Mali (with a CAGR of +55.6%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Ghana ($X), Mali ($X) and Nigeria ($X) were the countries with the highest levels of imports in 2021, together comprising 67% of total imports.

Mali, with a CAGR of +62.9%, 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 2021, declining by -13.6% against the previous year. Import price indicated a buoyant increase from 2012 to 2021: its price increased at an average annual rate of +5.2% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, off-highway dumper import price decreased by -24.6% against 2018 indices. The pace of growth was the most pronounced in 2013 an increase of 28%. Over the period under review, import prices reached the peak figure at $X per unit in 2018; however, from 2019 to 2021, 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 Mali ($X per unit), while Nigeria ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Senegal (+7.0%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform