Report Update Nov 1, 2024

ECOWAS - Lifting Equipment - Market Analysis, Forecast, Size, Trends and Insights

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ECOWAS: Lifting Equipment Market 2024

Lifting Equipment Market Size in ECOWAS

The ECOWAS lifting equipment market amounted to $X in 2021, remaining relatively unchanged against the previous year. Overall, consumption, however, continues to indicate a mild descent. As a result, consumption reached the peak level of $X. From 2016 to 2021, the growth of the market remained at a somewhat lower figure.

Lifting Equipment Production in ECOWAS

In value terms, lifting equipment production rose to $X in 2021 estimated in export price. In general, production, however, continues to indicate a mild descent. The pace of growth appeared the most rapid in 2018 when the production volume increased by 27%. The level of production peaked at $X in 2012; however, from 2013 to 2021, production failed to regain momentum.

Lifting Equipment Exports

Exports in ECOWAS

In 2021, approx. X units of lifting equipment were exported in ECOWAS; picking up by 597% on the previous year. In general, exports recorded a resilient expansion. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, lifting equipment exports surged to $X in 2021. Overall, exports showed mild growth. The level of export peaked at $X in 2017; however, from 2018 to 2021, the exports remained at a lower figure.

Exports by Country

Senegal dominates exports structure, recording X units, which was near 96% of total exports in 2021. Nigeria (X units) took a relatively small share of total exports.

Senegal was also the fastest-growing in terms of the lifting equipment exports, with a CAGR of +28.7% from 2012 to 2021. At the same time, Nigeria (+2.0%) displayed positive paces of growth. While the share of Senegal (+55 p.p.) increased significantly in terms of the total exports from 2012-2021, the share of Nigeria (-7.2 p.p.) displayed negative dynamics.

In value terms, Senegal ($X) emerged as the largest lifting equipment supplier in ECOWAS, comprising 95% of total exports. The second position in the ranking was held by Nigeria ($X), with a 4.2% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value in Senegal amounted to +37.7%.

Export Prices by Country

The export price in ECOWAS stood at $X per unit in 2021, falling by -4.7% against the previous year. In general, the export price showed a deep slump. The pace of growth was the most pronounced in 2016 an increase of 208% against the previous year. The level of export peaked at $X per unit in 2017; however, from 2018 to 2021, the export prices failed to regain momentum.

Average prices varied somewhat amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was Nigeria ($X per unit), while Senegal stood at $X per unit.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Nigeria (+21.3%).

Lifting Equipment Imports

Imports in ECOWAS

In 2021, the amount of lifting equipment imported in ECOWAS soared to X units, increasing by 25% compared with the previous year. Over the period under review, imports, however, continue to indicate a noticeable descent. The pace of growth was the most pronounced in 2015 when imports increased by 1,196% against the previous year. As a result, imports attained the peak of X units. From 2016 to 2021, the growth of imports remained at a somewhat lower figure.

In value terms, lifting equipment imports skyrocketed to $X in 2021. In general, imports showed a temperate increase. The pace of growth appeared the most rapid in 2017 with an increase of 249% against the previous year. As a result, imports attained the peak of $X. From 2018 to 2021, the growth of imports remained at a somewhat lower figure.

Imports by Country

Cote d'Ivoire (X units) and Senegal (X units) represented the main importers of lifting equipment in 2021, reaching approx. 30% and 24% of total imports, respectively. Cabo Verde (X units) ranks next in terms of the total imports with a 9.7% share, followed by Ghana (9.1%) and Nigeria (8.5%). Mali (X units) and Guinea (X units) followed a long way behind the leaders.

From 2012 to 2021, the biggest increases were recorded for Nigeria (with a CAGR of +30.5%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Nigeria ($X) constitutes the largest market for imported lifting equipment in ECOWAS, comprising 41% of total imports. The second position in the ranking was held by Cote d'Ivoire ($X), with an 18% share of total imports. It was followed by Senegal, with an 11% share.

From 2012 to 2021, the average annual growth rate of value in Nigeria totaled +25.5%. The remaining importing countries recorded the following average annual rates of imports growth: Cote d'Ivoire (+11.4% per year) and Senegal (+2.4% per year).

Import Prices by Country

In 2021, the import price in ECOWAS amounted to $X per unit, picking up by 11% against the previous year. In general, the import price enjoyed a prominent expansion. The most prominent rate of growth was recorded in 2016 when the import price increased by 1,287%. The level of import peaked in 2021 and is expected to retain growth in years to come.

There were significant differences in the average prices amongst the major importing countries. In 2021, amid the top importers, the country with the highest price was Nigeria ($X per unit), while Cabo Verde ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Mali (+18.5%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

This report provides an in-depth analysis of the lifting equipment market in ECOWAS. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

Prodcom 28221470 - Lifting equipment (excluding overhead travelling cranes, t ower, transporter, gantry, portal, bridge or pedestal jib cranes, mobile lifting frames or straddle carriers, selfpropelled machinery)

Country coverage:

Benin
Burkina Faso
Cabo Verde
Gambia
Ghana
Guinea
Guinea-Bissau
Liberia
Mali
Niger
Nigeria
Senegal
Sierra Leone
Togo
Cote d'Ivoire

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Production in ECOWAS, split by region and country
Trade (exports and imports) in ECOWAS
Export and import prices
Market trends, drivers and restraints
Key market players and their profiles

Reasons to buy this report:

Take advantage of the latest data
Find deeper insights into current market developments
Discover vital success factors affecting the market

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

How to diversify your business and benefit from new market opportunities
How to load your idle production capacity
How to boost your sales on overseas markets
How to increase your profit margins
How to make your supply chain more sustainable
How to reduce your production and supply chain costs
How to outsource production to other countries
How to prepare your business for global expansion

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business
1. REPORT DESCRIPTION
2. RESEARCH METHODOLOGY AND AI PLATFORM
3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
4. GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance
1. KEY FINDINGS
2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects
1. MARKET SIZE
2. CONSUMPTION BY COUNTRY
3. MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT

Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO
1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
2. BEST-SELLING PRODUCTS
3. MOST CONSUMED PRODUCT
4. MOST TRADED PRODUCT
5. MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO
1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
2. TOP PRODUCING COUNTRIES
3. TOP EXPORTING COUNTRIES
4. LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO
1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
2. TOP CONSUMING MARKETS
3. UNSATURATED MARKETS
4. TOP IMPORTING MARKETS
5. MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION VOLUME AND VALUE
2. PRODUCTION BY COUNTRY
8. IMPORTS
The Largest Importers on The Market and How They Succeed
1. IMPORTS FROM 2012–2023
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Exporters on The Market and How They Succeed
1. EXPORTS FROM 2012–2023
2. EXPORTS BY COUNTRY
3. EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO
11. COUNTRY PROFILES

The Largest Markets And Their Profiles
This Chapter is Available Only for the Professional Edition PRO
- Benin
- Burkina Faso
- Cabo Verde
- Gambia
- Ghana
- Guinea
- Guinea-Bissau
- Liberia
- Mali
- Niger
- Nigeria
- Senegal
- Sierra Leone
- Togo
- Cote d'Ivoire
LIST OF TABLES
1. Key Findings In 2023
2. Market Volume, In Physical Terms, 2012–2023
3. Market Value, 2012–2023
4. Per Capita Consumption, By Country, 2018–2023
5. Production, In Physical Terms, By Country, 2012–2023
6. Imports, In Physical Terms, By Country, 2012–2023
7. Imports, In Value Terms, By Country, 2012–2023
8. Import Prices, By Country Of Destination, 2012–2023
9. Exports, In Physical Terms, By Country, 2012–2023
10. Exports, In Value Terms, By Country, 2012–2023
11. Export Prices, By Country Of Origin, 2012–2023
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2023
2. Market Value, 2012–2023
3. Consumption, By Country, 2023
4. Market Volume Forecast to 2030
5. Market Value Forecast to 2030
6. Products: Market Size And Growth, By Type
7. Products: Average Per Capita Consumption, By Type
8. Products: Exports And Growth, By Type
9. Products: Export Prices And Growth, By Type
10. Production Volume And Growth
11. Exports And Growth
12. Export Prices And Growth
13. Market Size And Growth
14. Per Capita Consumption
15. Imports And Growth
16. Import Prices
17. Production, In Physical Terms, 2012–2023
18. Production, In Value Terms, 2012–2023
19. Production, By Country, 2023
20. Production, In Physical Terms, By Country, 2012–2023
21. Imports, In Physical Terms, 2012–2023
22. Imports, In Value Terms, 2012–2023
23. Imports, In Physical Terms, By Country, 2023
24. Imports, In Physical Terms, By Country, 2012–2023
25. Imports, In Value Terms, By Country, 2012–2023
26. Import Prices, By Country, 2012–2023
27. Exports, In Physical Terms, 2012–2023
28. Exports, In Value Terms, 2012–2023
29. Exports, In Physical Terms, By Country, 2023
30. Exports, In Physical Terms, By Country, 2012–2023
31. Exports, In Value Terms, By Country, 2012–2023
32. Export Prices, 2012–2023