ECOWAS: Public Works Machinery Market 2024

Public Works Machinery Market Size in ECOWAS

For the fifth consecutive year, the ECOWAS public works machinery market recorded growth in sales value, which increased by 29% to $X in 2021. Over the period under review, consumption continues to indicate a remarkable increase. As a result, consumption attained the peak level of $X. From 2016 to 2021, the growth of the market remained at a somewhat lower figure.

Public Works Machinery Production in ECOWAS

In value terms, public works machinery production shrank to $X in 2021 estimated in export price. Overall, production, however, continues to indicate a buoyant increase. The most prominent rate of growth was recorded in 2018 with an increase of 33%. Over the period under review, production attained the maximum level at $X in 2020, and then fell in the following year.

Public Works Machinery Exports

Exports in ECOWAS

In 2021, approx. X units of machinery for public works and building were exported in ECOWAS; waning by -29.2% against 2020. In general, exports continue to indicate a abrupt contraction. The most prominent rate of growth was recorded in 2020 with an increase of 67% against the previous year. The volume of export peaked at X units in 2015; however, from 2016 to 2021, the exports remained at a lower figure.

In value terms, public works machinery exports surged to $X in 2021. Over the period under review, exports, however, recorded a resilient increase. The most prominent rate of growth was recorded in 2020 when exports increased by 76% against the previous year. The level of export peaked in 2021 and is likely to continue growth in the near future.

Exports by Country

The shipments of the three major exporters of machinery for public works and building, namely Benin, Sierra Leone and Togo, represented more than two-thirds of total export. Senegal (X units) held the next position in the ranking, followed by Niger (X units) and Cote d'Ivoire (X units). All these countries together held approx. 23% share of total exports. Mali (X units) held a minor share of total exports.

From 2012 to 2021, the biggest increases were recorded for Sierra Leone (with a CAGR of +56.5%), while shipments for the other leaders experienced mixed trends in the exports figures.

In value terms, Niger ($X) emerged as the largest public works machinery supplier in ECOWAS, comprising 58% of total exports. The second position in the ranking was taken by Benin ($X), with an 11% share of total exports. It was followed by Togo, with a 6.4% share.

From 2012 to 2021, the average annual rate of growth in terms of value in Niger totaled +47.2%. In the other countries, the average annual rates were as follows: Benin (+4.2% per year) and Togo (+0.6% per year).

Export Prices by Country

The export price in ECOWAS stood at $X per unit in 2021, with an increase of 118% against the previous year. In general, the export price saw a significant increase. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Niger ($X per unit), while Sierra Leone ($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 (+55.5%), while the other leaders experienced more modest paces of growth.

Public Works Machinery Imports

Imports in ECOWAS

In 2021, imports of machinery for public works and building in ECOWAS surged to X units, rising by 49% on 2020. In general, imports showed a significant expansion. The most prominent rate of growth was recorded in 2015 with an increase of 2,967%. As a result, imports reached the peak of X units. From 2016 to 2021, the growth of imports remained at a lower figure.

In value terms, public works machinery imports skyrocketed to $X in 2021. Overall, imports recorded a resilient expansion. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

Ghana was the main importer of machinery for public works and building in ECOWAS, with the volume of imports accounting for X units, which was approx. 35% of total imports in 2021. Nigeria (X units) took a 20% share (based on physical terms) of total imports, which put it in second place, followed by Burkina Faso (16%), Gambia (13%) and Cote d'Ivoire (5.8%). The following importers - Togo (X units) and Benin (X units) - each recorded a 3.5% share of total imports.

From 2012 to 2021, the biggest increases were recorded for Burkina Faso (with a CAGR of +54.7%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest public works machinery importing markets in ECOWAS were Cote d'Ivoire ($X), Nigeria ($X) and Ghana ($X), together comprising 82% of total imports. Burkina Faso, Benin, Togo and Gambia lagged somewhat behind, together accounting for a further 4.3%.

Burkina Faso, with a CAGR of +51.2%, 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

The import price in ECOWAS stood at $X per unit in 2021, with an increase of 59% against the previous year. Over the period under review, the import price, however, showed a deep contraction. The pace of growth was the most pronounced in 2016 when the import price increased by 1,869% against the previous year. Over the period under review, import prices hit record highs at $X per unit in 2012; however, from 2013 to 2021, import prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Cote d'Ivoire ($X per unit), while Gambia ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Cote d'Ivoire (+4.6%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform