ECOWAS: Microphone Market 2025

Microphone Market Size in ECOWAS

The ECOWAS microphone market expanded slightly to $X in 2022, with an increase of 1.8% against the previous year. The total consumption indicated a prominent expansion from 2012 to 2022: its value increased at an average annual rate of +9.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +15.4% against 2020 indices. Over the period under review, the market hit record highs in 2022 and is expected to retain growth in the near future.

Microphone Production in ECOWAS

In value terms, microphone production dropped modestly to $X in 2022 estimated in export price. Overall, production, however, showed prominent growth. The pace of growth appeared the most rapid in 2013 with an increase of 47%. The level of production peaked at $X in 2019; however, from 2020 to 2022, production remained at a lower figure.

Microphone Exports

Exports in ECOWAS

In 2022, overseas shipments of microphones and their stands increased by 30% to X units for the first time since 2019, thus ending a two-year declining trend. Over the period under review, exports, however, recorded a abrupt setback. The most prominent rate of growth was recorded in 2014 when exports increased by 637%. Over the period under review, the exports attained the maximum at X units in 2015; however, from 2016 to 2022, the exports remained at a lower figure.

In value terms, microphone exports fell significantly to $X in 2022. In general, exports, however, saw a deep contraction. The growth pace was the most rapid in 2014 with an increase of 686% against the previous year. Over the period under review, the exports reached the maximum at $X in 2015; however, from 2016 to 2022, the exports remained at a lower figure.

Exports by Country

The shipments of the three major exporters of microphones and their stands, namely Cote d'Ivoire, Nigeria and Sierra Leone, represented more than two-thirds of total export. Ghana (X units) held the next position in the ranking, followed by Senegal (X units). All these countries together held near 23% share of total exports. Cabo Verde (X units) and Mali (X units) followed a long way behind the leaders.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the leading exporting countries, was attained by Senegal (with a CAGR of +29.2%), while the other leaders experienced more modest paces of growth.

In value terms, the largest microphone supplying countries in ECOWAS were Cote d'Ivoire ($X), Nigeria ($X) and Sierra Leone ($X), with a combined 79% share of total exports.

Among the main exporting countries, Cote d'Ivoire, with a CAGR of +25.1%, recorded 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

The export price in ECOWAS stood at $X per unit in 2022, waning by -45.8% against the previous year. Overall, the export price showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 an increase of 79% against the previous year. Over the period under review, the export prices reached the peak figure at $X per unit in 2021, and then reduced notably in the following year.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Mali ($X per unit), while Cabo Verde ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Cote d'Ivoire (+10.3%), while the other leaders experienced more modest paces of growth.

Microphone Imports

Imports in ECOWAS

In 2022, purchases abroad of microphones and their stands decreased by -23% to X units for the first time since 2016, thus ending a five-year rising trend. Overall, imports, however, continue to indicate noticeable growth. The pace of growth was the most pronounced in 2021 with an increase of 75%. As a result, imports attained the peak of X units, and then fell sharply in the following year.

In value terms, microphone imports reached $X in 2022. Over the period under review, imports, however, continue to indicate buoyant growth. The most prominent rate of growth was recorded in 2013 when imports increased by 96% against the previous year. As a result, imports reached the peak of $X; afterwards, it flattened through to 2022.

Imports by Country

Ghana was the largest importer of microphones and their stands in ECOWAS, with the volume of imports recording X units, which was near 49% of total imports in 2022. Cote d'Ivoire (X units) ranks second in terms of the total imports with an 18% share, followed by Senegal (12%) and Nigeria (8.1%). The following importers - Benin (X units), Guinea (X units) and Cabo Verde (X units) - together made up 7.8% of total imports.

From 2012 to 2022, average annual rates of growth with regard to microphone imports into Ghana stood at +1.5%. At the same time, Benin (+67.0%), Senegal (+17.7%), Guinea (+12.4%), Cabo Verde (+11.6%), Nigeria (+10.7%) and Cote d'Ivoire (+3.9%) displayed positive paces of growth. Moreover, Benin emerged as the fastest-growing importer imported in ECOWAS, with a CAGR of +67.0% from 2012-2022. From 2012 to 2022, the share of Senegal, Nigeria and Benin increased by +8.2, +3.7 and +3.2 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Ghana ($X), Nigeria ($X) and Cote d'Ivoire ($X) were the countries with the highest levels of imports in 2022, together comprising 77% of total imports. Senegal, Guinea, Cabo Verde and Benin lagged somewhat behind, together accounting for a further 13%.

Among the main importing countries, Benin, with a CAGR of +60.6%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the import price in ECOWAS amounted to $X per unit, rising by 36% against the previous year. In general, the import price saw a tangible increase. Over the period under review, import prices attained the peak figure at $X per unit in 2016; however, from 2017 to 2022, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Nigeria ($X per unit), while Benin ($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 (+8.6%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform