ECOWAS: Accumulator Market 2024

Accumulator Market Size in ECOWAS

The ECOWAS accumulator market expanded modestly to $X in 2022, with an increase of X% against the previous year. Overall, consumption saw a strong expansion. Over the period under review, the market reached the peak level in 2022 and is expected to retain growth in years to come.

Accumulator Production in ECOWAS

In value terms, accumulator production contracted to $X in 2022 estimated in export price. The total production indicated a buoyant expansion 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 2019 indices. The most prominent rate of growth was recorded in 2016 with an increase of X%. The level of production peaked at $X in 2019; however, from 2020 to 2022, production failed to regain momentum.

Accumulator Exports

Exports in ECOWAS

For the third year in a row, ECOWAS recorded growth in shipments abroad of electric accumulators, which increased by X% to X units in 2022. Overall, exports saw a significant increase. The most prominent rate of growth was recorded in 2021 with an increase of X% against the previous year. Over the period under review, the exports reached the peak figure in 2022 and are likely to see steady growth in years to come.

In value terms, accumulator exports surged to $X in 2022. Over the period under review, exports posted a buoyant expansion. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

Nigeria (X units) and Togo (X units) dominates exports structure, together mixing up X% of total exports. Burkina Faso (X units), Ghana (X units) and Cote d'Ivoire (X units) held a minor 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 Togo (with a CAGR of X%), while the other leaders experienced more modest paces of growth.

In value terms, the largest accumulator supplying countries in ECOWAS were Nigeria ($X), Togo ($X) and Ghana ($X), together comprising X% of total exports.

Togo, 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

The export price in ECOWAS stood at $X per unit in 2022, waning by X% against the previous year. Over the period under review, the export price recorded a abrupt shrinkage. The pace of growth was the most pronounced in 2013 when the export price increased by X% against the previous year. As a result, the export price attained the peak level of $X per unit. From 2014 to 2022, the export prices remained at a somewhat lower figure.

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 Cote d'Ivoire ($X per unit), while Nigeria ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Ghana (X%), while the other leaders experienced a decline in the export price figures.

Accumulator Imports

Imports in ECOWAS

Accumulator imports soared to X units in 2022, picking up by X% against 2021. Over the period under review, imports posted a buoyant increase. The most prominent rate of growth was recorded in 2019 when imports increased by X%. Over the period under review, imports reached the maximum at X units in 2020; however, from 2021 to 2022, imports stood at a somewhat lower figure.

In value terms, accumulator imports stood at $X in 2022. In general, imports recorded a resilient increase. The most prominent rate of growth was recorded in 2019 when imports increased by X%. Over the period under review, imports attained the maximum in 2022 and are likely to see steady growth in the immediate term.

Imports by Country

In 2022, Ghana (X units), distantly followed by Burkina Faso (X units), Nigeria (X units), Cote d'Ivoire (X units), Senegal (X units) and Guinea (X units) represented the largest importers of electric accumulators, together comprising X% of total imports. Sierra Leone (X units) took a little share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by Sierra Leone (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Nigeria ($X), Ghana ($X) and Guinea ($X) were the countries with the highest levels of imports in 2022, with a combined X% share of total imports.

In terms of the main importing countries, Guinea, with a CAGR of X%, recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the import price in ECOWAS amounted to $X per unit, with a decrease of X% against the previous year. Overall, the import price, however, showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2018 an increase of X% against the previous year. The level of import peaked at $X per unit in 2015; however, from 2016 to 2022, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Nigeria ($X per unit), while Burkina Faso ($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 (X%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform