ECOWAS: Hvac Equipment Market 2024

Hvac Equipment Market Size in ECOWAS

The ECOWAS HVAC equipment market shrank to $X in 2022, remaining constant against the previous year. The market value increased at an average annual rate of X% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the market attained the peak level at $X in 2019; however, from 2020 to 2022, consumption failed to regain momentum.

Hvac Equipment Production in ECOWAS

In value terms, HVAC equipment production stood at $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 indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2013 when the production volume increased by X% against the previous year. Over the period under review, production reached the maximum level at $X in 2020; however, from 2021 to 2022, production stood at a somewhat lower figure.

Hvac Equipment Exports

Exports in ECOWAS

In 2022, the amount of HVAC equipment exported in ECOWAS surged to X units, growing by X% against 2021. Total exports indicated a buoyant expansion from 2012 to 2022: its volume increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by X% against 2017 indices. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, HVAC equipment exports dropped markedly to $X in 2022. Total exports indicated temperate growth from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by X% against 2019 indices. The pace of growth appeared the most rapid in 2020 with an increase of X%. Over the period under review, the exports hit record highs at $X in 2021, and then fell dramatically in the following year.

Exports by Country

In 2022, Senegal (X units) and Ghana (X units) represented the main exporters of HVAC equipment in ECOWAS, together making up X% of total exports. Sierra Leone (X units) held the next position in the ranking, followed by Togo (X units) and Cote d'Ivoire (X units). All these countries together took near X% share of total exports. Burkina Faso (X units) took a little share of total exports.

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

In value terms, Senegal ($X) remains the largest HVAC equipment supplier in ECOWAS, comprising X% of total exports. The second position in the ranking was taken by Ghana ($X), with a X% share of total exports. It was followed by Sierra Leone, with a X% share.

From 2012 to 2022, the average annual growth rate of value in Senegal totaled X%. In the other countries, the average annual rates were as follows: Ghana (X% per year) and Sierra Leone (X% per year).

Export Prices by Country

The export price in ECOWAS stood at $X per unit in 2022, falling by X% against the previous year. Over the period under review, the export price saw a pronounced descent. The pace of growth was the most pronounced in 2017 an increase of X%. Over the period under review, the export prices reached the peak figure at $X per unit in 2021, and then dropped markedly in the following year.

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 Burkina Faso ($X per unit), while Togo ($X per unit) was amongst the lowest.

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

Hvac Equipment Imports

Imports in ECOWAS

In 2022, supplies from abroad of HVAC equipment was finally on the rise to reach X units after two years of decline. In general, imports showed a buoyant increase. The pace of growth appeared the most rapid in 2019 with an increase of X% against the previous year. Over the period under review, imports reached the maximum in 2022 and are expected to retain growth in the immediate term.

In value terms, HVAC equipment imports expanded slightly to $X in 2022. Overall, imports recorded a prominent expansion. The most prominent rate of growth was recorded in 2019 with an increase of X% against the previous year. As a result, imports reached the peak of $X. From 2020 to 2022, the growth of imports failed to regain momentum.

Imports by Country

Nigeria was the major importer of HVAC equipment in ECOWAS, with the volume of imports recording X units, which was near X% of total imports in 2022. Burkina Faso (X units) took a X% share (based on physical terms) of total imports, which put it in second place, followed by Senegal (X%), Ghana (X%) and Niger (X%). Cote d'Ivoire (X units) and Togo (X units) held a relatively small share of total imports.

Imports into Nigeria increased at an average annual rate of X% from 2012 to 2022. At the same time, Senegal (X%), Burkina Faso (X%), Niger (X%), Ghana (X%) and Cote d'Ivoire (X%) displayed positive paces of growth. Moreover, Senegal emerged as the fastest-growing importer imported in ECOWAS, with a CAGR of X% from 2012-2022. Togo experienced a relatively flat trend pattern. While the share of Senegal (X p.p.) and Burkina Faso (X p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Cote d'Ivoire (X p.p.), Ghana (X p.p.), Nigeria (X p.p.) and Togo (X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

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

Import Prices by Country

The import price in ECOWAS stood at $X per unit in 2022, dropping by X% against the previous year. In general, the import price continues to indicate a noticeable decline. The most prominent rate of growth was recorded in 2014 an increase of X% against the previous year. As a result, import price reached the peak level of $X per unit. From 2015 to 2022, the import prices remained at a somewhat lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2022, 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 Togo (X%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform