ECOWAS: Electric Heating Equipment Market 2025

Electric Heating Equipment Market Size in ECOWAS

The ECOWAS electric heating equipment market rose sharply to $X in 2022, growing by 5.3% against the previous year. Overall, consumption, however, saw a mild slump. Over the period under review, the market hit record highs at $X in 2012; however, from 2013 to 2022, consumption remained at a lower figure.

Electric Heating Equipment Production in ECOWAS

In value terms, electric heating equipment production expanded slightly to $X in 2022 estimated in export price. Over the period under review, production, however, recorded a noticeable shrinkage. The most prominent rate of growth was recorded in 2020 with an increase of 20% against the previous year. The level of production peaked at $X in 2012; however, from 2013 to 2022, production stood at a somewhat lower figure.

Electric Heating Equipment Exports

Exports in ECOWAS

In 2022, shipments abroad of electric space heating apparatus and soil heating apparatus decreased by -28.1% to X units for the first time since 2019, thus ending a two-year rising trend. Overall, exports, however, saw perceptible growth. The growth pace was the most rapid in 2020 with an increase of 96% against the previous year. The volume of export peaked at X units in 2017; however, from 2018 to 2022, the exports failed to regain momentum.

In value terms, electric heating equipment exports reduced remarkably to $X in 2022. Over the period under review, exports, however, recorded a relatively flat trend pattern. The growth pace was the most rapid in 2017 when exports increased by 103%. The level of export peaked at $X in 2015; however, from 2016 to 2022, the exports remained at a lower figure.

Exports by Country

In 2022, Cote d'Ivoire (X units) and Cabo Verde (X units) were the key exporters of electric space heating apparatus and soil heating apparatus in ECOWAS, together making up 71% of total exports. Nigeria (X units) took a 16% share (based on physical terms) of total exports, which put it in second place, followed by Sierra Leone (8.7%). Togo (X units) held a minor share of total exports.

From 2012 to 2022, the biggest increases were recorded for Nigeria (with a CAGR of +23.9%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Cote d'Ivoire ($X) remains the largest electric heating equipment supplier in ECOWAS, comprising 75% of total exports. The second position in the ranking was held by Nigeria ($X), with a 16% share of total exports. It was followed by Cabo Verde, with a 5.5% share.

From 2012 to 2022, the average annual growth rate of value in Cote d'Ivoire stood at -1.1%. In the other countries, the average annual rates were as follows: Nigeria (+20.5% per year) and Cabo Verde (+31.7% per year).

Export Prices by Country

In 2022, the export price in ECOWAS amounted to $X per unit, reducing by -6.1% against the previous year. Overall, the export price showed a perceptible decline. The pace of growth was the most pronounced in 2015 when the export price increased by 208%. As a result, the export price reached the peak level of $X per unit. From 2016 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 ($X per unit), while Cabo Verde ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Cote d'Ivoire (-1.6%), while the other leaders experienced a decline in the export price figures.

Electric Heating Equipment Imports

Imports in ECOWAS

Electric heating equipment imports skyrocketed to X units in 2022, growing by 67% against the previous year's figure. Over the period under review, imports, however, continue to indicate a abrupt decrease. The pace of growth was the most pronounced in 2014 with an increase of 93% against the previous year. As a result, imports reached the peak of X units. From 2015 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, electric heating equipment imports soared to $X in 2022. In general, imports, however, continue to indicate a slight reduction. The pace of growth appeared the most rapid in 2020 with an increase of 170% against the previous year. As a result, imports reached the peak of $X. From 2021 to 2022, the growth of imports remained at a lower figure.

Imports by Country

Nigeria (X units) and Ghana (X units) represented roughly 68% of total imports in 2022. Cote d'Ivoire (X units) ranks next in terms of the total imports with a 10% share, followed by Senegal (9.9%). The following importers - Mali (X units) and Gambia (X units) - each finished at a 5.7% share of total imports.

From 2012 to 2022, the biggest increases were recorded for Senegal (with a CAGR of +23.9%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Nigeria ($X) constitutes the largest market for imported electric space heating apparatus and soil heating apparatus in ECOWAS, comprising 52% of total imports. The second position in the ranking was held by Ghana ($X), with a 23% share of total imports. It was followed by Senegal, with a 9.2% share.

In Nigeria, electric heating equipment imports remained relatively stable over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: Ghana (-0.4% per year) and Senegal (+12.1% per year).

Import Prices by Country

The import price in ECOWAS stood at $X per unit in 2022, waning by -14.9% against the previous year. Overall, the import price, however, showed prominent growth. The most prominent rate of growth was recorded in 2016 an increase of 228% against the previous year. As a result, import price attained the peak level of $X per unit. From 2017 to 2022, the 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 Nigeria ($X per unit), while Gambia ($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 (+17.0%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform