ECOWAS: Market for Non-Electronic Instruments For Measuring Or Checking Variables Of Liquids Or Gases 2024

Market Size for Non-Electronic Instruments For Measuring Or Checking Variables Of Liquids Or Gases in ECOWAS

In 2021, the ECOWAS market for non-electronic instruments for measuring or checking variables of liquids or gases decreased by -61.1% to $X for the first time since 2017, thus ending a three-year rising trend. Over the period under review, consumption, however, saw a resilient increase. Over the period under review, the market reached the maximum level at $X in 2020, and then reduced sharply in the following year.

Production of Non-Electronic Instruments For Measuring Or Checking Variables Of Liquids Or Gases in ECOWAS

In value terms, non-electronic liquid or gas measurer production surged to $X in 2021 estimated in export price. Over the period under review, production saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 when the production volume increased by 80% against the previous year. As a result, production reached the peak level of $X. From 2015 to 2021, production growth remained at a lower figure.

Exports of Non-Electronic Instruments For Measuring Or Checking Variables Of Liquids Or Gases

Exports in ECOWAS

Non-electronic liquid or gas measurer exports fell sharply to X units in 2021, with a decrease of -35.6% against 2020 figures. In general, exports faced a drastic downturn. The most prominent rate of growth was recorded in 2018 with an increase of 263%. The volume of export peaked at X units in 2014; however, from 2015 to 2021, the exports stood at a somewhat lower figure.

In value terms, non-electronic liquid or gas measurer exports shrank significantly to $X in 2021. Overall, exports saw a abrupt slump. The pace of growth was the most pronounced in 2020 when exports increased by 239%. Over the period under review, the exports attained the maximum at $X in 2014; however, from 2015 to 2021, the exports failed to regain momentum.

Exports by Country

Cote d'Ivoire was the largest exporting country with an export of around X units, which resulted at 41% of total exports. It was distantly followed by Mali (X units), Nigeria (X units), Senegal (X units) and Togo (X units), together making up a 50% share of total exports. Ghana (X units) and Sierra Leone (X units) took a little share of total exports.

From 2012 to 2021, average annual rates of growth with regard to non-electronic liquid or gas measurer exports from Cote d'Ivoire stood at +31.3%. At the same time, Sierra Leone (+57.3%), Mali (+7.3%), Senegal (+7.2%) and Togo (+4.8%) displayed positive paces of growth. Moreover, Sierra Leone emerged as the fastest-growing exporter exported in ECOWAS, with a CAGR of +57.3% from 2012-2021. By contrast, Ghana (-23.9%) and Nigeria (-25.1%) illustrated a downward trend over the same period. Cote d'Ivoire (+40 p.p.), Mali (+13 p.p.), Senegal (+7.9 p.p.) and Togo (+7.4 p.p.) significantly strengthened its position in terms of the total exports, while Ghana and Nigeria saw its share reduced by -12.5% and -55.5% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Cote d'Ivoire ($X) emerged as the largest non-electronic liquid or gas measurer supplier in ECOWAS, comprising 38% of total exports. The second position in the ranking was held by Nigeria ($X), with a 16% share of total exports. It was followed by Ghana, with a 14% share.

In Cote d'Ivoire, non-electronic liquid or gas measurer exports expanded at an average annual rate of +5.5% over the period from 2012-2021. In the other countries, the average annual rates were as follows: Nigeria (-18.9% per year) and Ghana (+3.3% per year).

Export Prices by Country

In 2021, the export price in ECOWAS amounted to $X per unit, reducing by -28.9% against the previous year. Over the period under review, the export price, however, continues to indicate a tangible increase. The most prominent rate of growth was recorded in 2020 when the export price increased by 58%. The level of export peaked at $X per unit in 2017; however, from 2018 to 2021, the export prices remained at a lower figure.

Prices varied noticeably country of origin: the country with the highest price was Ghana ($X per unit), while Sierra Leone ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Ghana (+35.8%), while the other leaders experienced more modest paces of growth.

Imports of Non-Electronic Instruments For Measuring Or Checking Variables Of Liquids Or Gases

Imports in ECOWAS

After three years of growth, supplies from abroad of non-electronic instruments for measuring or checking variables of liquids or gases decreased by -74.3% to X units in 2021. Overall, imports, however, recorded a prominent expansion. The pace of growth appeared the most rapid in 2018 when imports increased by 446% against the previous year. The volume of import peaked at X units in 2020, and then contracted sharply in the following year.

In value terms, non-electronic liquid or gas measurer imports contracted rapidly to $X in 2021. Over the period under review, imports, however, continue to indicate strong growth. The pace of growth was the most pronounced in 2016 with an increase of 793% against the previous year. As a result, imports attained the peak of $X. From 2017 to 2021, the growth of imports remained at a somewhat lower figure.

Imports by Country

Nigeria prevails in imports structure, recording X units, which was approx. 83% of total imports in 2021. It was distantly followed by Senegal (X units), generating a 6.4% share of total imports. The following importers - Cote d'Ivoire (X units) and Ghana (X units) - each resulted at an 8.1% share of total imports.

Imports into Nigeria increased at an average annual rate of +15.4% from 2012 to 2021. At the same time, Senegal (+20.6%), Cote d'Ivoire (+6.4%) and Ghana (+4.4%) displayed positive paces of growth. Moreover, Senegal emerged as the fastest-growing importer imported in ECOWAS, with a CAGR of +20.6% from 2012-2021. While the share of Nigeria (+11 p.p.) and Senegal (+2.7 p.p.) increased significantly in terms of the total imports from 2012-2021, the share of Cote d'Ivoire (-3.4 p.p.) and Ghana (-4.4 p.p.) displayed negative dynamics.

In value terms, Nigeria ($X) constitutes the largest market for imported non-electronic instruments for measuring or checking variables of liquids or gases in ECOWAS, comprising 52% of total imports. The second position in the ranking was held by Ghana ($X), with a 13% share of total imports. It was followed by Senegal, with an 11% share.

From 2012 to 2021, the average annual growth rate of value in Nigeria totaled +14.8%. In the other countries, the average annual rates were as follows: Ghana (+7.7% per year) and Senegal (+11.2% per year).

Import Prices by Country

The import price in ECOWAS stood at $X per unit in 2021, picking up by 196% against the previous year. Overall, the import price, however, continues to indicate a noticeable slump. The level of import peaked at $X per unit in 2016; however, from 2017 to 2021, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2021, the country with the highest price was Ghana ($X per unit), while Nigeria ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Ghana (+3.2%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform