ECOWAS: Electronic Material Tester Market 2024

Electronic Material Tester Market Size in ECOWAS

After four years of decline, the ECOWAS electronic material tester market increased by 42% to $X in 2021. In general, consumption continues to indicate a relatively flat trend pattern. The level of consumption peaked at $X in 2014; however, from 2015 to 2021, consumption failed to regain momentum.

Electronic Material Tester Production in ECOWAS

In value terms, electronic material tester production rose to $X in 2021 estimated in export price. In general, production showed a pronounced slump. The growth pace was the most rapid in 2014 when the production volume increased by 24% against the previous year. As a result, production attained the peak level of $X. From 2015 to 2021, production growth remained at a somewhat lower figure.

Electronic Material Tester Exports

Exports in ECOWAS

In 2021, approx. X units of electronic machines and appliances for testing materials were exported in ECOWAS; increasing by 73% against the year before. Overall, exports showed a significant expansion. The growth pace was the most rapid in 2018 when exports increased by 112%. The volume of export peaked in 2021 and is likely to see gradual growth in the immediate term.

In value terms, electronic material tester exports surged to $X in 2021. Over the period under review, exports saw resilient growth. The pace of growth appeared the most rapid in 2018 when exports increased by 84% against the previous year. Over the period under review, the exports hit record highs in 2021 and are expected to retain growth in the immediate term.

Exports by Country

Burkina Faso dominates exports structure, reaching X units, which was near 86% of total exports in 2021. It was distantly followed by Senegal (X units), creating an 8.1% share of total exports.

Burkina Faso was also the fastest-growing in terms of the electronic machines and appliances for testing materials exports, with a CAGR of +89.1% from 2012 to 2021. At the same time, Senegal (+25.2%) displayed positive paces of growth. From 2012 to 2021, the share of Burkina Faso and Senegal increased by +85 and +2.5 percentage points, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Burkina Faso ($X) remains the largest electronic material tester supplier in ECOWAS, comprising 55% of total exports. The second position in the ranking was taken by Senegal ($X), with a 12% share of total exports.

In Burkina Faso, electronic material tester exports expanded at an average annual rate of +64.6% over the period from 2012-2021.

Export Prices by Country

The export price in ECOWAS stood at $X per unit in 2021, reducing by -17.3% against the previous year. Overall, the export price saw a abrupt slump. The pace of growth appeared the most rapid in 2014 when the export price increased by 73% against the previous year. Over the period under review, the export prices hit record highs at $X per unit in 2016; however, from 2017 to 2021, the export prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Senegal ($X per unit), while Burkina Faso stood at $X per unit.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Senegal (-12.9%).

Electronic Material Tester Imports

Imports in ECOWAS

In 2021, approx. X units of electronic machines and appliances for testing materials were imported in ECOWAS; surging by 73% on the year before. Overall, imports continue to indicate buoyant growth. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, electronic material tester imports surged to $X in 2021. Total imports indicated a prominent expansion from 2012 to 2021: its value increased at an average annual rate of +6.6% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +89.5% against 2018 indices. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

The purchases of the four major importers of electronic machines and appliances for testing materials, namely Ghana, Cote d'Ivoire, Senegal and Nigeria, represented more than two-thirds of total import. It was distantly followed by Guinea (X units), generating an 8.8% share of total imports. Benin (X units), Liberia (X units) and Burkina Faso (X units) took a relatively small share of total imports.

From 2012 to 2021, the biggest increases were recorded for Cote d'Ivoire (with a CAGR of +26.7%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest electronic material tester importing markets in ECOWAS were Ghana ($X), Senegal ($X) and Cote d'Ivoire ($X), together accounting for 59% of total imports.

Cote d'Ivoire, with a CAGR of +16.5%, 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

In 2021, the import price in ECOWAS amounted to $X per unit, declining by -12.1% against the previous year. Overall, the import price showed a noticeable reduction. The growth pace was the most rapid in 2020 when the import price increased by 19% against the previous year. The level of import peaked at $X per unit in 2017; however, from 2018 to 2021, import prices remained at a lower figure.

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 Liberia ($X per unit), while Benin ($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 (+0.8%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform