ECOWAS: Electronic Lamp Machine Market 2024

Electronic Lamp Machine Market Size in ECOWAS

The ECOWAS electronic lamp machine market skyrocketed to $X in 2021, increasing by 36% against the previous year. Overall, consumption posted prominent growth. As a result, consumption attained the peak level of $X. From 2018 to 2021, the growth of the market failed to regain momentum.

Electronic Lamp Machine Production in ECOWAS

In value terms, electronic lamp machine production totaled $X in 2021 estimated in export price. The total output value increased at an average annual rate of +1.9% over the period from 2012 to 2021; the trend pattern remained relatively stable, with only minor fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2019 with an increase of 7.8% against the previous year. As a result, production reached the peak level of $X. From 2020 to 2021, production growth remained at a somewhat lower figure.

Electronic Lamp Machine Exports

Exports in ECOWAS

In 2020, shipments abroad of machines for electric or electronic lamps, tubes, valves or flashbulbs decreased by -92.5% to X units, falling for the second year in a row after four years of growth. Overall, exports saw a precipitous decline. The growth pace was the most rapid in 2017 with an increase of 1,055% against the previous year. Over the period under review, the exports attained the maximum at X units in 2018; however, from 2019 to 2020, the exports failed to regain momentum.

In value terms, electronic lamp machine exports dropped remarkably to $X in 2020. Over the period under review, exports saw a precipitous decrease. The pace of growth appeared the most rapid in 2013 with an increase of 952%. As a result, the exports attained the peak of $X. From 2014 to 2020, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Nigeria was the key exporting country with an export of around X units, which amounted to 75% of total exports. It was distantly followed by Ghana (X units), mixing up a 25% share of total exports.

Exports from Nigeria decreased at an average annual rate of -32.5% from 2012 to 2020. At the same time, Ghana (+41.4%) displayed positive paces of growth. Moreover, Ghana emerged as the fastest-growing exporter exported in ECOWAS, with a CAGR of +41.4% from 2012-2020. From 2012 to 2020, the share of Ghana increased by +25 percentage points.

In Nigeria, electronic lamp machine exports decreased by an average annual rate of -26.6% over the period from 2012-2020.

Export Prices by Country

The export price in ECOWAS stood at $X per unit in 2020, increasing by 785% against the previous year. Overall, the export price enjoyed buoyant growth. The pace of growth appeared the most rapid in 2013 an increase of 3,803%. As a result, the export price reached the peak level of $X per unit. From 2014 to 2020, the export prices failed to regain momentum.

Average prices varied somewhat amongst the major exporting countries. In 2020, the country with the highest price was Ghana ($X per unit), while Nigeria stood at $X per unit.

From 2012 to 2020, the most notable rate of growth in terms of prices was attained by Ghana (+13.8%).

Electronic Lamp Machine Imports

Imports in ECOWAS

In 2021, the amount of machines for electric or electronic lamps, tubes, valves or flashbulbs imported in ECOWAS skyrocketed to X units, growing by 119% on the previous year. Over the period under review, imports continue to indicate a strong expansion. The most prominent rate of growth was recorded in 2017 with an increase of 299%. As a result, imports attained the peak of X units. From 2018 to 2021, the growth of imports failed to regain momentum.

In value terms, electronic lamp machine imports skyrocketed to $X in 2021. Overall, imports continue to indicate a buoyant expansion. The most prominent rate of growth was recorded in 2017 when imports increased by 235% against the previous year. As a result, imports reached the peak of $X. From 2018 to 2021, the growth of imports failed to regain momentum.

Imports by Country

Nigeria dominates imports structure, resulting at X units, which was near 85% of total imports in 2021. It was distantly followed by Burkina Faso (X units), comprising a 9.5% share of total imports. Ghana (X units) held a relatively small share of total imports.

From 2012 to 2021, average annual rates of growth with regard to electronic lamp machine imports into Nigeria stood at +20.9%. At the same time, Burkina Faso (+64.0%) and Ghana (+24.9%) displayed positive paces of growth. Moreover, Burkina Faso emerged as the fastest-growing importer imported in ECOWAS, with a CAGR of +64.0% from 2012-2021. Nigeria (+13 p.p.) and Burkina Faso (+9 p.p.) significantly strengthened its position in terms of the total imports, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Nigeria ($X) constitutes the largest market for imported machines for electric or electronic lamps, tubes, valves or flashbulbs in ECOWAS, comprising 89% of total imports. The second position in the ranking was taken by Ghana ($X), with a 2% share of total imports.

In Nigeria, electronic lamp machine imports increased at an average annual rate of +9.7% over the period from 2012-2021. The remaining importing countries recorded the following average annual rates of imports growth: Ghana (-3.7% per year) and Burkina Faso (+14.9% per year).

Import Prices by Country

The import price in ECOWAS stood at $X per unit in 2021, with a decrease of -10.1% against the previous year. Over the period under review, the import price continues to indicate a abrupt decrease. The most prominent rate of growth was recorded in 2015 when the import price increased by 85%. The level of import peaked at $X per unit in 2012; however, from 2013 to 2021, import prices failed to regain momentum.

Prices varied noticeably country of destination: the country with the highest price was Nigeria ($X per unit), while Burkina Faso ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Nigeria (-9.3%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform