ECOWAS: Market for Instruments for Measuring Electrical Quantities 2025

Market Size for Instruments for Measuring Electrical Quantities in ECOWAS

In 2021, the ECOWAS market for instruments for measuring electrical quantities increased by 347% to $X, rising for the fifth consecutive year after two years of decline. Over the period under review, consumption saw a significant increase. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Production of Instruments for Measuring Electrical Quantities in ECOWAS

In value terms, instruments for measuring electrical quantities production dropped to $X in 2021 estimated in export price. The total production indicated a pronounced expansion from 2012 to 2021: its value increased at an average annual rate of +3.8% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production increased by +2.7% against 2019 indices. The pace of growth appeared the most rapid in 2017 with an increase of 47% against the previous year. Over the period under review, production reached the maximum level at $X in 2018; however, from 2019 to 2021, production failed to regain momentum.

Exports of Instruments for Measuring Electrical Quantities

Exports in ECOWAS

In 2021, approx. X units of instruments for measuring electrical quantities were exported in ECOWAS; rising by 83% against the previous year. In general, exports, however, continue to indicate a relatively flat trend pattern. Over the period under review, the exports hit record highs at X units in 2014; however, from 2015 to 2021, the exports remained at a lower figure.

In value terms, instruments for measuring electrical quantities exports surged to $X in 2021. Overall, exports posted a modest increase. The level of export peaked at $X in 2014; however, from 2015 to 2021, the exports failed to regain momentum.

Exports by Country

Cote d'Ivoire (X units) and Nigeria (X units) represented roughly 61% of total exports in 2021. It was distantly followed by Cabo Verde (X units), Burkina Faso (X units) and Ghana (X units), together committing a 27% share of total exports. The following exporters - Sierra Leone (X units) and Niger (X units) - together made up 5.9% of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the key exporting countries, was attained by Cabo Verde (with a CAGR of +45.2%), while the other leaders experienced more modest paces of growth.

In value terms, Nigeria ($X) emerged as the largest instruments for measuring electrical quantities supplier in ECOWAS, comprising 52% of total exports. The second position in the ranking was held by Sierra Leone ($X), with a 12% share of total exports. It was followed by Cabo Verde, with a 6% share.

In Nigeria, instruments for measuring electrical quantities exports expanded at an average annual rate of +7.9% over the period from 2012-2021. In the other countries, the average annual rates were as follows: Sierra Leone (+10.9% per year) and Cabo Verde (+53.4% per year).

Export Prices by Country

The export price in ECOWAS stood at $X per unit in 2021, picking up by 1.9% against the previous year. Export price indicated a mild expansion from 2012 to 2021: its price increased at an average annual rate of +1.9% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, instruments for measuring electrical quantities export price increased by +44.7% against 2018 indices. The most prominent rate of growth was recorded in 2015 an increase of 34% against the previous year. The level of export peaked in 2021 and is expected to retain growth in the immediate term.

Prices varied noticeably country of origin: the country with the highest price was Sierra Leone ($X per unit), while Cote d'Ivoire ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Niger (+23.1%), while the other leaders experienced more modest paces of growth.

Imports of Instruments for Measuring Electrical Quantities

Imports in ECOWAS

In 2021, approx. X units of instruments for measuring electrical quantities were imported in ECOWAS; increasing by 463% compared with 2020. Over the period under review, imports showed a significant expansion. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, instruments for measuring electrical quantities imports surged to $X in 2021. Overall, imports recorded significant growth. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

The countries with the highest levels of instruments for measuring electrical quantities imports in 2021 were Nigeria (X units), together accounting for 96% of total import.

Nigeria was also the fastest-growing in terms of the instruments for measuring electrical quantities imports, with a CAGR of +67.8% from 2012 to 2021. From 2012 to 2021, the share of Nigeria increased by +39 percentage points, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Nigeria ($X) constitutes the largest market for imported instruments for measuring electrical quantities in ECOWAS.

In Nigeria, instruments for measuring electrical quantities imports expanded at an average annual rate of +28.2% over the period from 2012-2021.

Import Prices by Country

In 2021, the import price in ECOWAS amounted to $X per unit, with a decrease of -44.5% against the previous year. Over the period under review, the import price saw a precipitous decline. The growth pace was the most rapid in 2013 when the import price increased by 9.1% against the previous year. As a result, import price reached the peak level of $X per unit. From 2014 to 2021, the import prices failed to regain momentum.

As there is only one major supplying country, the average price level is determined by prices for Nigeria.

From 2012 to 2021, the rate of growth in terms of prices for Nigeria amounted to -23.6% per year.

Source: IndexBox Platform