ECOWAS: Grinding Machine Market 2024

Grinding Machine Market Size in ECOWAS

The ECOWAS grinding machine market declined remarkably to $X in 2021, which is down by -21.1% against the previous year. Over the period under review, consumption, however, continues to indicate resilient growth. The level of consumption peaked at $X in 2020, and then reduced remarkably in the following year.

Grinding Machine Production in ECOWAS

In value terms, grinding machine production reduced to $X in 2021 estimated in export price. Overall, production, however, continues to indicate a prominent expansion. The pace of growth was the most pronounced in 2014 when the production volume increased by 55%. Over the period under review, production attained the maximum level at $X in 2020, and then reduced in the following year.

Grinding Machine Exports

Exports in ECOWAS

For the fifth consecutive year, ECOWAS recorded decline in overseas shipments of machines having individual functions, for mixing, kneading, crushing or grinding, which decreased by -42.9% to X units in 2021. Overall, exports faced a deep downturn. The pace of growth appeared the most rapid in 2016 when exports increased by 154% against the previous year. As a result, the exports reached the peak of X units. From 2017 to 2021, the growth of the exports remained at a somewhat lower figure.

In value terms, grinding machine exports reduced remarkably to $X in 2021. In general, exports saw a deep slump. The pace of growth was the most pronounced in 2016 with an increase of 134% against the previous year. Over the period under review, the exports hit record highs at $X in 2018; however, from 2019 to 2021, the exports remained at a lower figure.

Exports by Country

In 2021, Niger (X units) represented the main exporter of machines having individual functions, for mixing, kneading, crushing or grinding, mixing up 53% of total exports. Mali (X units) took the second position in the ranking, followed by Senegal (X units), Ghana (X units), Sierra Leone (X units) and Benin (X units). All these countries together held approx. 42% share of total exports. Togo (X units) followed a long way behind the leaders.

Exports from Niger increased at an average annual rate of +9.1% from 2012 to 2021. At the same time, Benin (+58.2%), Sierra Leone (+30.1%) and Senegal (+14.2%) displayed positive paces of growth. Moreover, Benin emerged as the fastest-growing exporter exported in ECOWAS, with a CAGR of +58.2% from 2012-2021. By contrast, Ghana (-3.5%), Mali (-15.0%) and Togo (-23.0%) illustrated a downward trend over the same period. From 2012 to 2021, the share of Niger, Senegal, Ghana, Sierra Leone, Benin and Mali increased by +48, +9.7, +6.1, +4.8, +4.7 and +2.9 percentage points, respectively.

In value terms, Niger ($X), Sierra Leone ($X) and Senegal ($X) appeared to be the countries with the highest levels of exports in 2021, with a combined 88% share of total exports.

Among the main exporting countries, Sierra Leone, with a CAGR of +50.9%, saw the highest rates of growth with regard to 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

In 2021, the export price in ECOWAS amounted to $X per unit, with a decrease of -2.7% against the previous year. In general, the export price, however, saw a measured increase. The growth pace was the most rapid in 2017 an increase of 126% against the previous year. The level of export peaked at $X per unit in 2020, and then fell slightly in the following year.

Prices varied noticeably country of origin: the country with the highest price was Sierra Leone ($X per unit), while Benin ($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 (+21.3%), while the other leaders experienced more modest paces of growth.

Grinding Machine Imports

Imports in ECOWAS

In 2021, supplies from abroad of machines having individual functions, for mixing, kneading, crushing or grinding decreased by -37.7% to X units, falling for the second consecutive year after three years of growth. Overall, imports, however, enjoyed a measured expansion. The pace of growth appeared the most rapid in 2013 when imports increased by 87% against the previous year. The volume of import peaked at X units in 2019; however, from 2020 to 2021, imports stood at a somewhat lower figure.

In value terms, grinding machine imports dropped sharply to $X in 2021. Over the period under review, imports, however, continue to indicate a resilient increase. The most prominent rate of growth was recorded in 2013 when imports increased by 96%. The level of import peaked at $X in 2019; however, from 2020 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, Nigeria (X units), distantly followed by Cote d'Ivoire (X units), Senegal (X units), Benin (X units), Ghana (X units) and Burkina Faso (X units) represented the largest importers of machines having individual functions, for mixing, kneading, crushing or grinding, together committing 90% of total imports. Mali (X units) and Cabo Verde (X units) held a minor share of total imports.

From 2012 to 2021, the biggest increases were recorded for Cabo Verde (with a CAGR of +41.5%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Nigeria ($X) constitutes the largest market for imported machines having individual functions, for mixing, kneading, crushing or grinding in ECOWAS, comprising 48% of total imports. The second position in the ranking was held by Cote d'Ivoire ($X), with a 13% share of total imports. It was followed by Burkina Faso, with a 9.2% share.

In Nigeria, grinding machine imports expanded at an average annual rate of +10.1% over the period from 2012-2021. The remaining importing countries recorded the following average annual rates of imports growth: Cote d'Ivoire (+7.7% per year) and Burkina Faso (+15.9% per year).

Import Prices by Country

In 2021, the import price in ECOWAS amounted to $X per unit, jumping by 19% against the previous year. Import price indicated a resilient increase from 2012 to 2021: its price increased at an average annual rate of +6.2% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, grinding machine import price increased by +39.0% against 2018 indices. The growth pace was the most rapid in 2019 when the import price increased by 28%. Over the period under review, import prices reached the maximum in 2021 and is likely to see steady growth in years to come.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Burkina Faso (+11.0%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform