ECOWAS: Electric Heating Resistor Market 2025

Electric Heating Resistor Market Size in ECOWAS

In 2021, the ECOWAS electric heating resistor market decreased by -13% to $X for the first time since 2018, thus ending a two-year rising trend. The total consumption indicated buoyant growth from 2012 to 2021: its value increased at an average annual rate of +6.8% 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 +48.5% against 2018 indices. As a result, consumption attained the peak level of $X, and then reduced in the following year.

Electric Heating Resistor Production in ECOWAS

In value terms, electric heating resistor production fell to $X in 2021 estimated in export price. The total production indicated a prominent increase from 2012 to 2021: its value increased at an average annual rate of +7.1% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production increased by +50.2% against 2018 indices. The pace of growth appeared the most rapid in 2020 when the production volume increased by 38%. As a result, production attained the peak level of $X, and then fell in the following year.

Electric Heating Resistor Exports

Exports in ECOWAS

In 2021, after four years of decline, there was significant growth in overseas shipments of electric heating resistors, when their volume increased by 638% to X units. Overall, exports enjoyed a resilient increase. Over the period under review, the exports hit record highs at X units in 2014; however, from 2015 to 2021, the exports failed to regain momentum.

In value terms, electric heating resistor exports surged to $X in 2021. In general, exports enjoyed a significant increase. The growth pace was the most rapid in 2014 with an increase of 820%. As a result, the exports attained the peak of $X. From 2015 to 2021, the growth of the exports remained at a lower figure.

Exports by Country

Sierra Leone dominates exports structure, resulting at X units, which was approx. 82% of total exports in 2021. It was distantly followed by Cote d'Ivoire (X units), comprising a 5.4% share of total exports. The following exporters - Mali (X units), Togo (X units), Niger (X units) and Nigeria (X units) - together made up 12% of total exports.

Exports from Sierra Leone increased at an average annual rate of +15.9% from 2012 to 2021. At the same time, Cote d'Ivoire (+49.6%), Mali (+17.9%), Nigeria (+15.9%), Togo (+12.8%) and Niger (+8.6%) displayed positive paces of growth. Moreover, Cote d'Ivoire emerged as the fastest-growing exporter exported in ECOWAS, with a CAGR of +49.6% from 2012-2021. From 2012 to 2021, the share of Cote d'Ivoire and Togo increased by +4.9 and +2.9 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Sierra Leone ($X) emerged as the largest electric heating resistor supplier in ECOWAS, comprising 79% of total exports. The second position in the ranking was held by Mali ($X), with an 8.4% share of total exports. It was followed by Niger, with a 3.5% share.

From 2012 to 2021, the average annual rate of growth in terms of value in Sierra Leone stood at +26.4%. In the other countries, the average annual rates were as follows: Mali (+32.5% per year) and Niger (+12.3% per year).

Export Prices by Country

In 2021, the export price in ECOWAS amounted to $X per unit, falling by -35% against the previous year. Overall, the export price, however, saw a strong increase. The most prominent rate of growth was recorded in 2018 when the export price increased by 164% against the previous year. The level of export peaked at $X per unit in 2020, and then declined significantly in the following year.

There were significant differences in the average prices amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was Mali ($X per unit), while Togo ($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 (+12.3%), while the other leaders experienced more modest paces of growth.

Electric Heating Resistor Imports

Imports in ECOWAS

In 2021, the amount of electric heating resistors imported in ECOWAS stood at X units, therefore, remained relatively stable against the year before. Overall, imports saw a buoyant increase. The most prominent rate of growth was recorded in 2020 when imports increased by 63%. Over the period under review, imports hit record highs in 2021 and are likely to continue growth in the immediate term.

In value terms, electric heating resistor imports rose to $X in 2021. In general, imports saw strong growth. The growth pace was the most rapid in 2020 with an increase of 58%. The level of import peaked in 2021 and is expected to retain growth in years to come.

Imports by Country

Ghana was the major importer of electric heating resistors in ECOWAS, with the volume of imports accounting for X units, which was near 50% of total imports in 2021. It was distantly followed by Nigeria (X units), Senegal (X units) and Cote d'Ivoire (X units), together committing a 42% share of total imports. Mali (X units) and Niger (X units) took a little share of total imports.

From 2012 to 2021, average annual rates of growth with regard to electric heating resistor imports into Ghana stood at +20.6%. At the same time, Senegal (+23.1%), Mali (+19.8%), Cote d'Ivoire (+12.9%) and Niger (+4.9%) displayed positive paces of growth. Moreover, Senegal emerged as the fastest-growing importer imported in ECOWAS, with a CAGR of +23.1% from 2012-2021. By contrast, Nigeria (-4.3%) illustrated a downward trend over the same period. Ghana (+31 p.p.), Senegal (+11 p.p.), Cote d'Ivoire (+2 p.p.) and Mali (+1.7 p.p.) significantly strengthened its position in terms of the total imports, while Nigeria saw its share reduced by -38.3% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest electric heating resistor importing markets in ECOWAS were Nigeria ($X), Ghana ($X) and Senegal ($X), with a combined 69% share of total imports. These countries were followed by Cote d'Ivoire, Niger and Mali, which together accounted for a further 20%.

Among the main importing countries, Mali, with a CAGR of +31.1%, 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 2021, the import price in ECOWAS amounted to $X per unit, surging by 4.3% against the previous year. Import price indicated a slight expansion from 2012 to 2021: its price increased at an average annual rate of +1.9% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2014 when the import price increased by 70% against the previous year. Over the period under review, import prices hit record highs at $X per unit in 2018; however, from 2019 to 2021, import prices stood at a somewhat lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Nigeria (+16.7%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform