ECOWAS: Outboard Boat Motors Market 2024

Outboard Boat Motors Market Size in ECOWAS

The ECOWAS outboard boat motors market skyrocketed to $X in 2022, jumping by X% against the previous year. The total consumption indicated temperate growth from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by X% against 2020 indices. As a result, consumption reached the peak level of $X. From 2017 to 2022, the growth of the market failed to regain momentum.

Outboard Boat Motors Production in ECOWAS

In value terms, outboard boat motors production expanded remarkably to $X in 2022 estimated in export price. The total production indicated resilient growth from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by X% against 2020 indices. The pace of growth appeared the most rapid in 2020 with an increase of X%. As a result, production reached the peak level of $X. From 2021 to 2022, production growth remained at a somewhat lower figure.

Outboard Boat Motors Exports

Exports in ECOWAS

In 2022, overseas shipments of outboard motors for marine propulsion decreased by X% to X units, falling for the second consecutive year after three years of growth. Overall, exports continue to indicate a pronounced decrease. The growth pace was the most rapid in 2013 when exports increased by X%. As a result, the exports attained the peak of X units. From 2014 to 2022, the growth of the exports remained at a lower figure.

In value terms, outboard boat motors exports reached $X in 2022. Over the period under review, exports, however, continue to indicate a strong expansion. The growth pace was the most rapid in 2013 when exports increased by X%. The level of export peaked at $X in 2020; however, from 2021 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Senegal was the major exporting country with an export of about X units, which resulted at X% of total exports. Cote d'Ivoire (X units) took the second position in the ranking, distantly followed by Ghana (X units). All these countries together held approx. X% share of total exports. The following exporters - Nigeria (X units) and Togo (X units) - each amounted to a X% share of total exports.

Senegal was also the fastest-growing in terms of the outboard motors for marine propulsion exports, with a CAGR of X% from 2012 to 2022. Ghana (X%), Cote d'Ivoire (X%), Togo (X%) and Nigeria (X%) illustrated a downward trend over the same period. While the share of Senegal (X p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Togo (X p.p.), Cote d'Ivoire (X p.p.) and Nigeria (X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest outboard boat motors supplying countries in ECOWAS were Senegal ($X), Cote d'Ivoire ($X) and Ghana ($X), together comprising X% of total exports.

Among the main exporting countries, Ghana, with a CAGR of X%, recorded the highest growth rate of 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, growing by X% against the previous year. Overall, the export price showed a strong increase. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

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 Cote d'Ivoire ($X per unit), while Nigeria ($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 (X%), while the other leaders experienced more modest paces of growth.

Outboard Boat Motors Imports

Imports in ECOWAS

In 2022, approx. X units of outboard motors for marine propulsion were imported in ECOWAS; with an increase of X% against 2021. In general, imports, however, saw a slight downturn. The growth pace was the most rapid in 2016 when imports increased by X%. As a result, imports attained the peak of X units. From 2017 to 2022, the growth of imports failed to regain momentum.

In value terms, outboard boat motors imports skyrocketed to $X in 2022. Over the period under review, imports, however, recorded a mild setback. The growth pace was the most rapid in 2016 with an increase of X% against the previous year. As a result, imports reached the peak of $X. From 2017 to 2022, the growth of imports remained at a lower figure.

Imports by Country

Ghana represented the largest importing country with an import of about X units, which reached X% of total imports. It was distantly followed by Nigeria (X units), Senegal (X units) and Guinea (X units), together committing a X% share of total imports. Cote d'Ivoire (X units), Gambia (X units) and Sierra Leone (X units) held a little share of total imports.

Ghana experienced a relatively flat trend pattern with regard to volume of imports of outboard motors for marine propulsion. At the same time, Gambia (X%) and Nigeria (X%) displayed positive paces of growth. Moreover, Gambia emerged as the fastest-growing importer imported in ECOWAS, with a CAGR of X% from 2012-2022. Guinea and Sierra Leone experienced a relatively flat trend pattern. By contrast, Cote d'Ivoire (X%) and Senegal (X%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Nigeria, Ghana and Gambia increased by X, X and X percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Ghana ($X), Nigeria ($X) and Senegal ($X) appeared to be the countries with the highest levels of imports in 2022, together comprising X% of total imports. Gambia, Cote d'Ivoire, Sierra Leone and Guinea lagged somewhat behind, together comprising a further X%.

Gambia, with a CAGR of X%, saw the highest growth rate of the value of imports, among the main importing countries over the period under review, while purchases for the other leaders experienced mixed trends in the imports figures.

Import Prices by Country

The import price in ECOWAS stood at $X per unit in 2022, growing by X% against the previous year. Over the period under review, the import price, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 an increase of X%. As a result, import price reached the peak level of $X per unit. From 2021 to 2022, the import prices remained at a somewhat lower figure.

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

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

Source: IndexBox Platform