ECOWAS: Market for Lead-Acid Accumulators (Excluding Starter Batteries) 2025

Market Size for Lead-Acid Accumulators (Excluding Starter Batteries) in ECOWAS

The ECOWAS market for lead-acid accumulators (excluding starter batteries) shrank to $X in 2022, with a decrease of -10.1% against the previous year. In general, consumption, however, saw a buoyant expansion. As a result, consumption reached the peak level of $X. From 2020 to 2022, the growth of the market remained at a somewhat lower figure.

Production of Lead-Acid Accumulators (Excluding Starter Batteries) in ECOWAS

In value terms, lead-acid accumulators (excluding starter batteries) production reduced to $X in 2022 estimated in export price. Over the period under review, production, however, saw a remarkable increase. The growth pace was the most rapid in 2019 when the production volume increased by 93%. As a result, production reached the peak level of $X. From 2020 to 2022, production growth failed to regain momentum.

Exports of Lead-Acid Accumulators (Excluding Starter Batteries)

Exports in ECOWAS

In 2022, shipments abroad of lead-acid accumulators (excluding starter batteries) was finally on the rise to reach X units for the first time since 2019, thus ending a two-year declining trend. In general, exports, however, saw a noticeable decline. The growth pace was the most rapid in 2018 with an increase of 130% against the previous year. The volume of export peaked at X units in 2019; however, from 2020 to 2022, the exports failed to regain momentum.

In value terms, lead-acid accumulators (excluding starter batteries) exports soared to $X in 2022. Overall, exports, however, showed a perceptible setback. The most prominent rate of growth was recorded in 2018 with an increase of 127%. Over the period under review, the exports reached the maximum at $X in 2019; however, from 2020 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

In 2022, Senegal (X units) and Nigeria (X units) were the key exporters of lead-acid accumulators (excluding starter batteries) in ECOWAS, together committing 53% of total exports. Liberia (X units) took the next position in the ranking, followed by Togo (X units), Ghana (X units), Niger (X units), Cote d'Ivoire (X units) and Mali (X units). All these countries together took near 42% share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the key exporting countries, was attained by Liberia (with a CAGR of +45.0%), while the other leaders experienced more modest paces of growth.

In value terms, the largest lead-acid accumulators (excluding starter batteries) supplying countries in ECOWAS were Nigeria ($X), Senegal ($X) and Niger ($X), together comprising 58% of total exports. Ghana, Liberia, Mali, Togo and Cote d'Ivoire lagged somewhat behind, together accounting for a further 33%.

Liberia, with a CAGR of +39.3%, recorded the highest growth rate of the value of exports, in terms of the main exporting countries over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the export price in ECOWAS amounted to $X per unit, declining by -2.5% against the previous year. In general, the export price continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when the export price increased by 30% against the previous year. Over the period under review, the export prices attained the peak figure at $X per unit in 2015; however, from 2016 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Mali ($X per unit), while Cote d'Ivoire ($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 (+9.6%), while the other leaders experienced more modest paces of growth.

Imports of Lead-Acid Accumulators (Excluding Starter Batteries)

Imports in ECOWAS

In 2022, overseas purchases of lead-acid accumulators (excluding starter batteries) decreased by -10.8% to X units for the first time since 2017, thus ending a four-year rising trend. Overall, imports, however, saw a resilient expansion. The most prominent rate of growth was recorded in 2019 with an increase of 179%. Over the period under review, imports hit record highs at X units in 2021, and then declined in the following year.

In value terms, lead-acid accumulators (excluding starter batteries) imports shrank to $X in 2022. Over the period under review, imports, however, enjoyed a noticeable increase. The pace of growth was the most pronounced in 2019 when imports increased by 117%. As a result, imports reached the peak of $X. From 2020 to 2022, the growth of imports remained at a lower figure.

Imports by Country

Ghana (X units) and Senegal (X units) represented roughly 69% of total imports in 2022. Nigeria (X units) held the next position in the ranking, followed by Mali (X units) and Guinea (X units). All these countries together took near 19% share of total imports. The following importers - Cote d'Ivoire (X units) and Togo (X units) - together made up 5.7% of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by Togo (with a CAGR of +65.8%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest lead-acid accumulators (excluding starter batteries) importing markets in ECOWAS were Nigeria ($X), Ghana ($X) and Senegal ($X), with a combined 61% share of total imports. Guinea, Cote d'Ivoire, Mali and Togo lagged somewhat behind, together accounting for a further 27%.

Togo, with a CAGR of +61.6%, saw the highest rates of growth with regard to 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, growing by 4% against the previous year. Overall, the import price, however, saw a drastic downturn. The growth pace was the most rapid in 2016 when the import price increased by 72% against the previous year. 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.

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 Nigeria ($X per unit), while Ghana ($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 (+2.1%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform