ECOWAS: Inductor Market 2025

Inductor Market Size in ECOWAS

The ECOWAS inductor market totaled $X in 2022, growing by 1.7% against the previous year. Overall, consumption, however, posted strong growth. Over the period under review, the market hit record highs at $X in 2020; however, from 2021 to 2022, consumption failed to regain momentum.

Inductor Production in ECOWAS

In value terms, inductor production rose to $X in 2022 estimated in export price. Over the period under review, production posted a prominent increase. The pace of growth appeared the most rapid in 2015 with an increase of 199%. Over the period under review, production reached the peak level at $X in 2020; however, from 2021 to 2022, production failed to regain momentum.

Inductor Exports

Exports in ECOWAS

In 2022, approx. X units of inductors were exported in ECOWAS; with a decrease of -5.6% against the previous year. In general, exports faced a precipitous shrinkage. The pace of growth appeared the most rapid in 2014 with an increase of 55%. The volume of export peaked at X units in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

In value terms, inductor exports fell markedly to $X in 2022. Over the period under review, exports showed a deep reduction. The pace of growth was the most pronounced in 2016 when exports increased by 103%. The level of export peaked at $X in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Burkina Faso (X units) and Niger (X units) represented roughly 48% of total exports in 2022. It was distantly followed by Mali (X units), Ghana (X units), Senegal (X units), Cabo Verde (X units) and Togo (X units), together making up a 43% share of total exports.

From 2012 to 2022, the biggest increases were recorded for Niger (with a CAGR of +32.6%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Mali ($X), Togo ($X) and Cabo Verde ($X) were the countries with the highest levels of exports in 2022, together comprising 47% of total exports.

Among the main exporting countries, Cabo Verde, with a CAGR of +20.9%, 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

The export price in ECOWAS stood at $X per unit in 2022, waning by -19.4% against the previous year. Over the period under review, the export price, however, showed a prominent increase. The most prominent rate of growth was recorded in 2013 an increase of 124% against the previous year. The level of export peaked at $X per unit in 2021, and then contracted rapidly in the following year.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Togo ($X per unit), while Burkina Faso (less than $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 (+31.3%), while the other leaders experienced more modest paces of growth.

Inductor Imports

Imports in ECOWAS

In 2022, overseas purchases of inductors decreased by -55.2% to X units, falling for the second year in a row after seven years of growth. Overall, imports saw a deep setback. The most prominent rate of growth was recorded in 2018 when imports increased by 239% against the previous year. Over the period under review, imports reached the maximum at X units in 2020; however, from 2021 to 2022, imports remained at a lower figure.

In value terms, inductor imports declined notably to $X in 2022. In general, imports continue to indicate a abrupt slump. The most prominent rate of growth was recorded in 2015 with an increase of 104%. The level of import peaked at $X in 2019; however, from 2020 to 2022, imports stood at a somewhat lower figure.

Imports by Country

Nigeria represented the largest importer of inductors in ECOWAS, with the volume of imports finishing at X units, which was approx. 65% of total imports in 2022. Ghana (X units) held the second position in the ranking, distantly followed by Guinea (X units) and Senegal (X units). All these countries together took near 26% share of total imports. Cote d'Ivoire (X units) and Niger (X units) held a relatively small share of total imports.

From 2012 to 2022, average annual rates of growth with regard to inductor imports into Nigeria stood at -8.5%. At the same time, Guinea (+40.6%), Senegal (+14.0%), Ghana (+6.1%) and Niger (+3.7%) displayed positive paces of growth. Moreover, Guinea emerged as the fastest-growing importer imported in ECOWAS, with a CAGR of +40.6% from 2012-2022. By contrast, Cote d'Ivoire (-4.0%) illustrated a downward trend over the same period. While the share of Ghana (+11 p.p.), Guinea (+5.7 p.p.) and Senegal (+3.9 p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Nigeria (-22.7 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Nigeria ($X), Ghana ($X) and Guinea ($X) appeared to be the countries with the highest levels of imports in 2022, together accounting for 66% of total imports.

Guinea, with a CAGR of +24.8%, recorded the highest growth rate of the value of imports, in terms of 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 2022, the import price in ECOWAS amounted to $X per unit, picking up by 66% against the previous year. Over the period under review, the import price, however, saw a pronounced reduction. The pace of growth was the most pronounced in 2013 when the import price increased by 103%. The level of import peaked at $X per unit in 2015; however, from 2016 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 Nigeria (less than $X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Niger (+5.8%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform