ECOWAS: Metal Gas Appliances Market 2024

Metal Gas Appliances Market Size in ECOWAS

The ECOWAS metal gas appliances market rose remarkably to $X in 2022, increasing by 6.9% against the previous year. Over the period under review, consumption, however, continues to indicate a noticeable setback. The level of consumption peaked at $X in 2012; however, from 2013 to 2022, consumption remained at a lower figure.

Metal Gas Appliances Production in ECOWAS

In value terms, metal gas appliances production rose markedly to $X in 2022 estimated in export price. Overall, production, however, continues to indicate a abrupt decrease. The pace of growth appeared the most rapid in 2020 with an increase of 55% against the previous year. Over the period under review, production hit record highs at $X in 2012; however, from 2013 to 2022, production stood at a somewhat lower figure.

Metal Gas Appliances Exports

Exports in ECOWAS

In 2022, shipments abroad of iron or steel gas domestic appliances increased by 11% to X units, rising for the fifth consecutive year after three years of decline. Overall, exports enjoyed modest growth. The most prominent rate of growth was recorded in 2021 when exports increased by 95% against the previous year. The volume of export peaked in 2022 and is expected to retain growth in the immediate term.

In value terms, metal gas appliances exports reached $X in 2022. Over the period under review, exports posted modest growth. The most prominent rate of growth was recorded in 2015 with an increase of 1,255% against the previous year. As a result, the exports reached the peak of $X. From 2016 to 2022, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Senegal prevails in exports structure, reaching X units, which was approx. 83% of total exports in 2022. Ghana (X units) took the second position in the ranking, followed by Guinea (X units). All these countries together held near 9.5% share of total exports. The following exporters - Cote d'Ivoire (X units) and Nigeria (X units) - each accounted for a 7.1% share of total exports.

From 2012 to 2022, average annual rates of growth with regard to metal gas appliances exports from Senegal stood at +6.7%. At the same time, Cote d'Ivoire (+7.2%) and Nigeria (+4.1%) displayed positive paces of growth. Moreover, Cote d'Ivoire emerged as the fastest-growing exporter exported in ECOWAS, with a CAGR of +7.2% from 2012-2022. Guinea experienced a relatively flat trend pattern. By contrast, Ghana (-18.8%) illustrated a downward trend over the same period. Senegal (+33 p.p.), Guinea (+4.8 p.p.) and Cote d'Ivoire (+1.5 p.p.) significantly strengthened its position in terms of the total exports, while Ghana saw its share reduced by -39.4% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Senegal ($X) remains the largest metal gas appliances supplier in ECOWAS, comprising 65% of total exports. The second position in the ranking was taken by Guinea ($X), with an 11% share of total exports. It was followed by Cote d'Ivoire, with a 6.1% share.

In Senegal, metal gas appliances exports expanded at an average annual rate of +9.3% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Guinea (-49.9% per year) and Cote d'Ivoire (+27.5% per year).

Export Prices by Country

The export price in ECOWAS stood at $X per unit in 2022, waning by -2.6% against the previous year. Overall, the export price, however, saw a relatively flat trend pattern. The growth pace was the most rapid in 2015 when the export price increased by 3,937%. As a result, the export price attained the peak level of $X per unit. From 2016 to 2022, the export prices remained at a lower figure.

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 Guinea ($X per unit), while Ghana ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Cote d'Ivoire (+19.0%), while the other leaders experienced mixed trends in the export price figures.

Metal Gas Appliances Imports

Imports in ECOWAS

In 2022, overseas purchases of iron or steel gas domestic appliances decreased by -36.9% to X units, falling for the second consecutive year after three years of growth. Overall, imports, however, continue to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2013 with an increase of 146% against the previous year. The volume of import peaked at X units in 2015; however, from 2016 to 2022, imports stood at a somewhat lower figure.

In value terms, metal gas appliances imports fell significantly to $X in 2022. Over the period under review, imports, however, recorded a relatively flat trend pattern. The growth pace was the most rapid in 2013 with an increase of 168%. Over the period under review, imports hit record highs at $X in 2014; however, from 2015 to 2022, imports remained at a lower figure.

Imports by Country

Nigeria prevails in imports structure, amounting to X units, which was near 72% of total imports in 2022. It was distantly followed by Burkina Faso (X units), constituting a 7.4% share of total imports. Ghana (X units), Cote d'Ivoire (X units), Liberia (X units), Cabo Verde (X units) and Mali (X units) held a minor share of total imports.

From 2012 to 2022, average annual rates of growth with regard to metal gas appliances imports into Nigeria stood at +3.9%. At the same time, Liberia (+48.0%), Mali (+22.4%) and Burkina Faso (+10.1%) displayed positive paces of growth. Moreover, Liberia emerged as the fastest-growing importer imported in ECOWAS, with a CAGR of +48.0% from 2012-2022. By contrast, Cabo Verde (-1.7%), Ghana (-6.1%) and Cote d'Ivoire (-17.9%) illustrated a downward trend over the same period. Nigeria (+22 p.p.), Burkina Faso (+4.5 p.p.), Liberia (+2.9 p.p.) and Mali (+1.9 p.p.) significantly strengthened its position in terms of the total imports, while Ghana and Cote d'Ivoire saw its share reduced by -4% and -26.2% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Nigeria ($X) constitutes the largest market for imported iron or steel gas domestic appliances in ECOWAS, comprising 71% of total imports. The second position in the ranking was taken by Burkina Faso ($X), with a 6.6% share of total imports. It was followed by Liberia, with a 5.6% share.

In Nigeria, metal gas appliances imports increased at an average annual rate of +3.2% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Burkina Faso (+9.0% per year) and Liberia (+37.5% per year).

Import Prices by Country

In 2022, the import price in ECOWAS amounted to $X per unit, growing by 13% against the previous year. In general, the import price recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 an increase of 152% against the previous year. The level of import peaked at $X per unit in 2018; however, from 2019 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 Liberia ($X per unit), while Ghana ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Mali (+2.4%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform