ECOWAS: Electrical Transformer Market 2024

Electrical Transformer Market Size in ECOWAS

The ECOWAS electrical transformer market expanded notably to $X in 2022, rising by X% against the previous year. In general, consumption, however, continues to indicate a slight increase. As a result, consumption attained the peak level of $X. From 2021 to 2022, the growth of the market remained at a somewhat lower figure.

Electrical Transformer Production in ECOWAS

In value terms, electrical transformer production rose modestly to $X in 2022 estimated in export price. The total output value increased at an average annual rate of X% over the period from 2012 to 2022; however, the trend pattern remained relatively stable, with somewhat noticeable fluctuations being observed throughout the analyzed period. The pace of growth appeared the most rapid in 2017 when the production volume increased by X% against the previous year. The level of production peaked at $X in 2019; however, from 2020 to 2022, production failed to regain momentum.

Electrical Transformer Exports

Exports in ECOWAS

After four years of growth, shipments abroad of electrical transformers decreased by X% to X units in 2022. Overall, exports, however, showed a prominent increase. The pace of growth appeared the most rapid in 2020 when exports increased by X%. Over the period under review, the exports attained the peak figure at X units in 2021, and then dropped rapidly in the following year.

In value terms, electrical transformer exports surged to $X in 2022. In general, exports continue to indicate a abrupt setback. Over the period under review, the exports attained the maximum at $X in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

Exports by Country

The shipments of the three major exporters of electrical transformers, namely Cote d'Ivoire, Burkina Faso and Sierra Leone, represented more than two-thirds of total export. Benin (X units) took a X% share (based on physical terms) of total exports, which put it in second place, followed by Nigeria (X%). Gambia (X units) followed a long way behind the leaders.

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

In value terms, Sierra Leone ($X), Nigeria ($X) and Cote d'Ivoire ($X) appeared to be the countries with the highest levels of exports in 2022, together comprising X% of total exports. Burkina Faso, Benin and Gambia lagged somewhat behind, together comprising a further X%.

Among the main exporting countries, Gambia, with a CAGR of X%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the export price in ECOWAS amounted to $X per unit, with an increase of X% against the previous year. Over the period under review, the export price, however, faced a precipitous decrease. The level of export peaked at $X per unit in 2013; however, from 2014 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, 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 Sierra Leone (X%), while the other leaders experienced a decline in the export price figures.

Electrical Transformer Imports

Imports in ECOWAS

In 2022, after four years of growth, there was significant decline in purchases abroad of electrical transformers, when their volume decreased by X% to X units. In general, imports, however, saw a temperate expansion. The pace of growth appeared the most rapid in 2021 with an increase of X%. As a result, imports attained the peak of X units, and then shrank notably in the following year.

In value terms, electrical transformer imports surged to $X in 2022. Over the period under review, imports saw a slight downturn. Over the period under review, imports attained the peak figure at $X in 2012; however, from 2013 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, Nigeria (X units) was the major importer of electrical transformers, mixing up X% of total imports. Burkina Faso (X units) ranks second in terms of the total imports with a X% share, followed by Ghana (X%), Niger (X%) and Cote d'Ivoire (X%). Senegal (X units) and Benin (X units) followed a long way behind the leaders.

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

In value terms, Nigeria ($X) constitutes the largest market for imported electrical transformers in ECOWAS, comprising X% of total imports. The second position in the ranking was held by Cote d'Ivoire ($X), with a X% share of total imports. It was followed by Ghana, with a X% share.

From 2012 to 2022, the average annual growth rate of value in Nigeria amounted to X%. In the other countries, the average annual rates were as follows: Cote d'Ivoire (X% per year) and Ghana (X% per year).

Import Prices by Country

In 2022, the import price in ECOWAS amounted to $X per unit, picking up by X% against the previous year. Over the period under review, the import price, however, showed a deep setback. The level of import peaked at $X per unit in 2019; however, from 2020 to 2022, 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 Cote d'Ivoire ($X per unit), while Burkina Faso ($X per unit) was amongst the lowest.

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

Source: IndexBox Platform