ECOWAS: Jacks And Hoists Market 2024

Jacks And Hoists Market Size in ECOWAS

For the sixth year in a row, the ECOWAS jacks and hoists market recorded decline in sales value, which decreased by -3.6% to $X in 2022. Overall, consumption saw a pronounced setback. Over the period under review, the market reached the maximum level at $X in 2012; however, from 2013 to 2022, consumption failed to regain momentum.

Jacks And Hoists Production in ECOWAS

In value terms, jacks and hoists production fell slightly to $X in 2022 estimated in export price. Overall, production recorded a perceptible reduction. The most prominent rate of growth was recorded in 2016 when the production volume increased by 85%. The level of production peaked at $X in 2012; however, from 2013 to 2022, production remained at a lower figure.

Jacks And Hoists Exports

Exports in ECOWAS

In 2022, jacks and hoists exports in ECOWAS fell significantly to X units, declining by -38% on 2021 figures. In general, exports, however, enjoyed a mild increase. The pace of growth was the most pronounced in 2021 when exports increased by 343%. The volume of export peaked at X units in 2015; however, from 2016 to 2022, the exports stood at a somewhat lower figure.

In value terms, jacks and hoists exports contracted to $X in 2022. Over the period under review, exports showed a noticeable downturn. The growth pace was the most rapid in 2013 when exports increased by 305%. As a result, the exports attained the peak of $X. From 2014 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

Togo (X units) and Senegal (X units) dominates exports structure, together generating 91% of total exports. It was distantly followed by Ghana (X units), mixing up a 4.5% share of total exports. Nigeria (X units) took a minor share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main exporting countries, was attained by Togo (with a CAGR of +18.5%), while the other leaders experienced more modest paces of growth.

In value terms, Ghana ($X), Senegal ($X) and Togo ($X) were the countries with the highest levels of exports in 2022, with a combined 63% share of total exports.

In terms of the main exporting countries, Ghana, with a CAGR of +37.7%, recorded 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, increasing by 42% against the previous year. Over the period under review, the export price, however, saw a perceptible slump. The pace of growth was the most pronounced in 2013 when the export price increased by 305% against the previous year. As a result, the export price reached the peak level of $X per unit. From 2014 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Ghana ($X per unit), while Togo ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Ghana (+31.2%), while the other leaders experienced more modest paces of growth.

Jacks And Hoists Imports

Imports in ECOWAS

In 2022, supplies from abroad of jacks and hoists for raising vehicles decreased by -67.6% to X units, falling for the second consecutive year after three years of growth. In general, imports, however, posted modest growth. The most prominent rate of growth was recorded in 2013 when imports increased by 953%. The volume of import peaked at X units in 2020; however, from 2021 to 2022, imports failed to regain momentum.

In value terms, jacks and hoists imports contracted notably to $X in 2022. Overall, imports saw a deep contraction. The pace of growth appeared the most rapid in 2013 with an increase of 261% against the previous year. As a result, imports attained the peak of $X. From 2014 to 2022, the growth of imports failed to regain momentum.

Imports by Country

Burkina Faso was the main importing country with an import of around X units, which resulted at 36% of total imports. Nigeria (X units) took a 19% share (based on physical terms) of total imports, which put it in second place, followed by Senegal (12%), Ghana (12%) and Cote d'Ivoire (5.2%). The following importers - Guinea (X units) and Mali (X units) - each recorded a 6.2% share of total imports.

From 2012 to 2022, the biggest increases were recorded for Mali (with a CAGR of +18.4%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Nigeria ($X), Cote d'Ivoire ($X) and Ghana ($X) appeared to be the countries with the highest levels of imports in 2022, together accounting for 51% of total imports. Senegal, Burkina Faso, Mali and Guinea lagged somewhat behind, together comprising a further 41%.

In terms of the main importing countries, Mali, with a CAGR of +14.5%, recorded the highest growth rate of the value of imports, 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, jumping by 65% against the previous year. Over the period under review, the import price, however, showed a deep slump. The pace of growth was the most pronounced in 2021 when the import price increased by 81%. Over the period under review, import prices hit record highs at $X per unit in 2012; however, from 2013 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 Mali ($X per unit), while Burkina Faso ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Burkina Faso (-1.1%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform