ECOWAS: Objective Lens Market 2025

Objective Lens Market Size in ECOWAS

In 2021, the ECOWAS objective lens market decreased by -20.9% to $X for the first time since 2018, thus ending a two-year rising trend. The total consumption indicated a prominent expansion from 2012 to 2021: its value increased at an average annual rate of +5.3% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +38.4% against 2018 indices. As a result, consumption reached the peak level of $X, and then shrank notably in the following year.

Objective Lens Production in ECOWAS

In value terms, objective lens production declined dramatically to $X in 2021 estimated in export price. The total production indicated a prominent increase from 2012 to 2021: its value increased at an average annual rate of +6.6% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production increased by +49.9% against 2018 indices. The growth pace was the most rapid in 2020 with an increase of 78% against the previous year. As a result, production attained the peak level of $X, and then contracted significantly in the following year.

Objective Lens Exports

Exports in ECOWAS

In 2021, overseas shipments of objective lenses for cameras, projectors or photographic enlargers or reducers were finally on the rise to reach X units after two years of decline. In general, exports, however, saw a deep reduction. The most prominent rate of growth was recorded in 2018 with an increase of 961% against the previous year. Over the period under review, the exports reached the peak figure at X units in 2016; however, from 2017 to 2021, the exports stood at a somewhat lower figure.

In value terms, objective lens exports surged to $X in 2021. Over the period under review, exports, however, saw a abrupt shrinkage. The pace of growth appeared the most rapid in 2018 with an increase of 604%. The level of export peaked at $X in 2016; however, from 2017 to 2021, the exports failed to regain momentum.

Exports by Country

Niger prevails in exports structure, finishing at X units, which was near 77% of total exports in 2021. It was distantly followed by Cote d'Ivoire (X units), Nigeria (X units) and Cabo Verde (X units), together making up a 23% share of total exports.

Niger was also the fastest-growing in terms of the objective lenses for cameras, projectors or photographic enlargers or reducers exports, with a CAGR of +116.9% from 2012 to 2021. Cote d'Ivoire (-9.0%), Cabo Verde (-18.5%) and Nigeria (-32.8%) illustrated a downward trend over the same period. From 2012 to 2021, the share of Niger and Cote d'Ivoire increased by +77 and +3.9 percentage points, respectively.

In value terms, Niger ($X) emerged as the largest objective lens supplier in ECOWAS, comprising 92% of total exports. The second position in the ranking was held by Nigeria ($X), with a 4.6% share of total exports. It was followed by Cote d'Ivoire, with a 2.1% share.

In Niger, objective lens exports expanded at an average annual rate of +162.5% over the period from 2012-2021. The remaining exporting countries recorded the following average annual rates of exports growth: Nigeria (-29.3% per year) and Cote d'Ivoire (-22.0% per year).

Export Prices by Country

In 2021, the export price in ECOWAS amounted to $X per unit, jumping by 48% against the previous year. In general, the export price recorded a strong increase. The most prominent rate of growth was recorded in 2014 an increase of 80% against the previous year. The level of export peaked in 2021 and is expected to retain growth in the near future.

There were significant differences in the average prices amongst the major exporting countries. In 2021, the country with the highest price was Niger ($X per unit), while Cabo Verde ($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 (+5.3%), while the other leaders experienced a decline in the export price figures.

Objective Lens Imports

Imports in ECOWAS

In 2021, after four years of growth, there was significant decline in supplies from abroad of objective lenses for cameras, projectors or photographic enlargers or reducers, when their volume decreased by -6.2% to X units. In general, imports, however, saw strong growth. The growth pace was the most rapid in 2014 with an increase of 128%. As a result, imports reached the peak of X units. From 2015 to 2021, the growth of imports remained at a somewhat lower figure.

In value terms, objective lens imports surged to $X in 2021. Overall, imports, however, continue to indicate significant growth. The pace of growth was the most pronounced in 2013 when imports increased by 214%. Over the period under review, imports reached the peak figure in 2021 and are expected to retain growth in the near future.

Imports by Country

Ghana represented the major importer of objective lenses for cameras, projectors or photographic enlargers or reducers in ECOWAS, with the volume of imports resulting at X units, which was approx. 41% of total imports in 2021. It was distantly followed by Cote d'Ivoire (X units), Nigeria (X units) and Guinea (X units), together constituting a 49% share of total imports. Sierra Leone (X units) took a relatively small share of total imports.

From 2012 to 2021, the biggest increases were recorded for Guinea (with a CAGR of +41.7%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Ghana ($X) constitutes the largest market for imported objective lenses for cameras, projectors or photographic enlargers or reducers in ECOWAS, comprising 60% of total imports. The second position in the ranking was held by Nigeria ($X), with a 17% share of total imports. It was followed by Cote d'Ivoire, with a 6.9% share.

In Ghana, objective lens imports increased at an average annual rate of +30.7% over the period from 2012-2021. The remaining importing countries recorded the following average annual rates of imports growth: Nigeria (+14.4% per year) and Cote d'Ivoire (+32.8% per year).

Import Prices by Country

In 2021, the import price in ECOWAS amounted to $X per unit, increasing by 73% against the previous year. Overall, the import price enjoyed a resilient expansion. The most prominent rate of growth was recorded in 2015 an increase of 105% against the previous year. The level of import peaked in 2021 and is expected to retain growth in the near future.

Prices varied noticeably country of destination: the country with the highest price was Ghana ($X per unit), while Cote d'Ivoire ($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 (+19.0%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform