ECOWAS: Market for Mechanical Appliances For Projecting, Dispersing Or Spraying 2024

Market Size for Mechanical Appliances For Projecting, Dispersing Or Spraying in ECOWAS

In 2022, the ECOWAS market for mechanical appliances for projecting, dispersing or spraying decreased by -42.2% to $X for the first time since 2018, thus ending a three-year rising trend. Overall, consumption, however, enjoyed prominent growth. The level of consumption peaked at $X in 2021, and then fell dramatically in the following year.

Production of Mechanical Appliances For Projecting, Dispersing Or Spraying in ECOWAS

In value terms, production of mechanical appliances for projecting, dispersing or spraying rose rapidly to $X in 2022 estimated in export price. Over the period under review, production continues to indicate resilient growth. The pace of growth was the most pronounced in 2019 when the production volume increased by 36%. The level of production peaked at $X in 2020; however, from 2021 to 2022, production stood at a somewhat lower figure.

Exports of Mechanical Appliances For Projecting, Dispersing Or Spraying

Exports in ECOWAS

In 2022, after four years of decline, there was growth in overseas shipments of mechanical appliances for projecting, dispersing or spraying, when their volume increased by 3.8% to X units. Overall, exports, however, faced a abrupt curtailment. The growth pace was the most rapid in 2017 when exports increased by 83% against the previous year. The volume of export peaked at X units in 2013; however, from 2014 to 2022, the exports remained at a lower figure.

In value terms, exports of mechanical appliances for projecting, dispersing or spraying soared to $X in 2022. In general, exports, however, showed a deep setback. The pace of growth appeared the most rapid in 2017 with an increase of 238% against the previous year. The level of export peaked at $X in 2014; however, from 2015 to 2022, the exports failed to regain momentum.

Exports by Country

The biggest shipments were from Ghana (X units), Cote d'Ivoire (X units) and Nigeria (X units), together amounting to 64% of total export. It was distantly followed by Niger (X units), Sierra Leone (X units), Senegal (X units), Togo (X units) and Mali (X units), together achieving a 33% share of total exports.

From 2012 to 2022, the biggest increases were recorded for Sierra Leone (with a CAGR of +34.1%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest mechanical appliances for projecting, dispersing or spraying supplying countries in ECOWAS were Cote d'Ivoire ($X), Nigeria ($X) and Sierra Leone ($X), with a combined 56% share of total exports. Ghana, Niger, Mali, Senegal and Togo lagged somewhat behind, together accounting for a further 42%.

Senegal, with a CAGR of +31.7%, recorded the highest growth rate of the value of exports, among 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

The export price in ECOWAS stood at $X per unit in 2022, picking up by 12% against the previous year. Export price indicated strong growth from 2012 to 2022: its price increased at an average annual rate of +8.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, export price for mechanical appliances for projecting, dispersing or spraying decreased by -24.7% against 2017 indices. The pace of growth was the most pronounced in 2017 an increase of 85%. As a result, the export price attained the peak level of $X per unit. From 2018 to 2022, the export prices remained at a somewhat lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Sierra Leone ($X per unit), while Ghana ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Senegal (+5.9%), while the other leaders experienced more modest paces of growth.

Imports of Mechanical Appliances For Projecting, Dispersing Or Spraying

Imports in ECOWAS

In 2022, supplies from abroad of mechanical appliances for projecting, dispersing or spraying decreased by -62.2% to X units for the first time since 2015, thus ending a six-year rising trend. Over the period under review, imports, however, continue to indicate a buoyant increase. The most prominent rate of growth was recorded in 2020 with an increase of 118%. Over the period under review, imports of attained the peak figure at X units in 2021, and then dropped dramatically in the following year.

In value terms, imports of mechanical appliances for projecting, dispersing or spraying declined dramatically to $X in 2022. Overall, imports, however, showed strong growth. The most prominent rate of growth was recorded in 2020 when imports increased by 130%. The level of import peaked at $X in 2021, and then shrank dramatically in the following year.

Imports by Country

Nigeria represented the major importing country with an import of around X units, which finished at 52% of total imports. Ghana (X units) held the second position in the ranking, followed by Senegal (X units) and Cote d'Ivoire (X units). All these countries together held near 37% share of total imports. Guinea (X units) held a little share of total imports.

Imports into Nigeria increased at an average annual rate of +21.6% from 2012 to 2022. At the same time, Senegal (+27.9%), Cote d'Ivoire (+14.2%) and Guinea (+7.3%) displayed positive paces of growth. Moreover, Senegal emerged as the fastest-growing importer imported in ECOWAS, with a CAGR of +27.9% from 2012-2022. By contrast, Ghana (-2.7%) illustrated a downward trend over the same period. While the share of Nigeria (+32 p.p.), Senegal (+9.4 p.p.) and Cote d'Ivoire (+3.2 p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Ghana (-35.4 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Nigeria ($X) constitutes the largest market for imported mechanical appliances for projecting, dispersing or spraying in ECOWAS, comprising 63% of total imports. The second position in the ranking was taken by Ghana ($X), with an 11% share of total imports. It was followed by Cote d'Ivoire, with an 8% share.

In Nigeria, imports of mechanical appliances for projecting, dispersing or spraying increased at an average annual rate of +23.1% over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: Ghana (+3.6% per year) and Cote d'Ivoire (+12.6% per year).

Import Prices by Country

The import price in ECOWAS stood at $X per unit in 2022, reducing by -15.1% against the previous year. Import price indicated a perceptible increase from 2012 to 2022: its price increased at an average annual rate of +2.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2014 when the import price increased by 56%. Over the period under review, import prices attained the maximum at $X per unit in 2021, and then fell dramatically in the following year.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Nigeria ($X per unit), while Guinea ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Ghana (+6.5%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform