ECOWAS: Gas Supply Meter Market 2025

Gas Supply Meter Market Size in ECOWAS

The ECOWAS gas supply meter market fell to $X in 2021, leveling off at the previous year. Overall, consumption saw a prominent increase. Over the period under review, the market attained the peak level at $X in 2019; however, from 2020 to 2021, consumption remained at a lower figure.

Gas Supply Meter Production in ECOWAS

In value terms, gas supply meter production contracted to $X in 2021 estimated in export price. Over the period under review, production, however, continues to indicate a remarkable increase. The growth pace was the most rapid in 2013 with an increase of 124% against the previous year. Over the period under review, production hit record highs at $X in 2020, and then declined in the following year.

Gas Supply Meter Exports

Exports in ECOWAS

In 2021, overseas shipments of gas supply or production meters decreased by -58.8% to X units, falling for the second year in a row after two years of growth. In general, exports showed a perceptible setback. The pace of growth was the most pronounced in 2018 with an increase of 125% against the previous year. The volume of export peaked at X units in 2019; however, from 2020 to 2021, the exports failed to regain momentum.

In value terms, gas supply meter exports dropped dramatically to $X in 2021. Overall, exports, however, showed strong growth. The pace of growth was the most pronounced in 2013 when exports increased by 320% against the previous year. The level of export peaked at $X in 2020, and then contracted notably in the following year.

Exports by Country

Ghana was the major exporting country with an export of about X units, which resulted at 76% of total exports. It was distantly followed by Cote d'Ivoire (X units) and Nigeria (X units), together creating a 22% share of total exports. Liberia (X units) held a little share of total exports.

Ghana was also the fastest-growing in terms of the gas supply or production meters exports, with a CAGR of +12.2% from 2012 to 2021. Cote d'Ivoire (-5.5%), Nigeria (-24.0%) and Liberia (-46.5%) illustrated a downward trend over the same period. From 2012 to 2021, the share of Ghana, Nigeria and Liberia increased by +55, +7.3 and +2.4 percentage points, respectively.

In value terms, Ghana ($X) remains the largest gas supply meter supplier in ECOWAS, comprising 81% of total exports. The second position in the ranking was held by Nigeria ($X), with a 12% share of total exports. It was followed by Cote d'Ivoire, with a 5.8% share.

In Ghana, gas supply meter exports increased at an average annual rate of +16.5% over the period from 2012-2021. In the other countries, the average annual rates were as follows: Nigeria (+51.9% per year) and Cote d'Ivoire (+4.5% per year).

Export Prices by Country

The export price in ECOWAS stood at $X per unit in 2021, increasing by 8.1% against the previous year. In general, the export price saw a buoyant increase. The most prominent rate of growth was recorded in 2020 when the export price increased by 120% against the previous year. The level of export peaked in 2021 and is likely to continue growth in the near future.

There were significant differences in the average prices amongst the major exporting countries. In 2021, the country with the highest price was Nigeria ($X per unit), while Liberia ($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 (+12.4%), while the other leaders experienced more modest paces of growth.

Gas Supply Meter Imports

Imports in ECOWAS

In 2021, the amount of gas supply or production meters imported in ECOWAS surged to X units, rising by 189% against the year before. Over the period under review, imports posted significant growth. The pace of growth was the most pronounced in 2018 with an increase of 643%. The volume of import peaked in 2021 and is likely to continue growth in years to come.

In value terms, gas supply meter imports dropped significantly to $X in 2021. Overall, imports posted a buoyant expansion. The growth pace was the most rapid in 2018 when imports increased by 474%. The level of import peaked at $X in 2020, and then dropped significantly in the following year.

Imports by Country

Nigeria prevails in imports structure, accounting for X units, which was near 95% of total imports in 2021. Niger (X units) followed a long way behind the leaders.

From 2012 to 2021, average annual rates of growth with regard to gas supply meter imports into Nigeria stood at +54.2%. At the same time, Niger (+117.8%) displayed positive paces of growth. Moreover, Niger emerged as the fastest-growing importer imported in ECOWAS, with a CAGR of +117.8% from 2012-2021. While the share of Nigeria (+15 p.p.) and Niger (+3.7 p.p.) increased significantly, the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Nigeria ($X) constitutes the largest market for imported gas supply or production meters in ECOWAS, comprising 89% of total imports. The second position in the ranking was taken by Niger ($X), with a 1.7% share of total imports.

From 2012 to 2021, the average annual growth rate of value in Nigeria totaled +18.4%.

Import Prices by Country

The import price in ECOWAS stood at $X per unit in 2021, reducing by -77.5% against the previous year. Overall, the import price recorded a precipitous slump. The pace of growth was the most pronounced in 2020 an increase of 219% against the previous year. The level of import peaked at $X per unit in 2012; however, from 2013 to 2021, import prices stood at a somewhat lower figure.

Prices varied noticeably country of destination: the country with the highest price was Nigeria ($X per unit), while Niger amounted to $X per unit.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Niger (-5.8%).

Source: IndexBox Platform