ECOWAS: Pedestrian-Controlled Tractor Market 2024

Pedestrian-Controlled Tractor Market Size in ECOWAS

The ECOWAS pedestrian-controlled tractor market contracted to $X in 2022, approximately equating the previous year. Overall, consumption posted a buoyant expansion. The level of consumption peaked at $X in 2021, and then dropped slightly in the following year.

Pedestrian-Controlled Tractor Production in ECOWAS

In value terms, pedestrian-controlled tractor production contracted to $X in 2022 estimated in export price. Over the period under review, production posted a resilient expansion. The pace of growth appeared the most rapid in 2019 with an increase of 28%. As a result, production attained the peak level of $X. From 2020 to 2022, production growth remained at a lower figure.

Pedestrian-Controlled Tractor Exports

Exports in ECOWAS

In 2022, the amount of pedestrian-controlled tractors exported in ECOWAS shrank rapidly to X units, reducing by -23.7% on the year before. Overall, exports, however, continue to indicate a buoyant expansion. The most prominent rate of growth was recorded in 2021 when exports increased by 390% against the previous year. The volume of export peaked at X units in 2018; however, from 2019 to 2022, the exports failed to regain momentum.

In value terms, pedestrian-controlled tractor exports soared to $X in 2022. In general, exports saw a noticeable decline. The most prominent rate of growth was recorded in 2017 with an increase of 128%. Over the period under review, the exports reached the peak figure at $X in 2018; however, from 2019 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Niger represented the major exporter of pedestrian-controlled tractors in ECOWAS, with the volume of exports amounting to X units, which was near 69% of total exports in 2022. It was distantly followed by Senegal (X units) and Burkina Faso (X units), together generating a 22% share of total exports. Nigeria (X units) and Ghana (X units) followed a long way behind the leaders.

From 2012 to 2022, average annual rates of growth with regard to pedestrian-controlled tractor exports from Niger stood at +17.5%. At the same time, Senegal (+30.2%), Burkina Faso (+28.2%) and Ghana (+14.9%) displayed positive paces of growth. Moreover, Senegal emerged as the fastest-growing exporter exported in ECOWAS, with a CAGR of +30.2% from 2012-2022. By contrast, Nigeria (-11.0%) illustrated a downward trend over the same period. While the share of Niger (+23 p.p.), Senegal (+9.2 p.p.) and Burkina Faso (+7.5 p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Nigeria (-41.4 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Niger ($X) emerged as the largest pedestrian-controlled tractor supplier in ECOWAS, comprising 65% of total exports. The second position in the ranking was held by Burkina Faso ($X), with a 15% share of total exports. It was followed by Senegal, with an 11% share.

From 2012 to 2022, the average annual rate of growth in terms of value in Niger stood at +2.6%. In the other countries, the average annual rates were as follows: Burkina Faso (+40.3% per year) and Senegal (+20.1% per year).

Export Prices by Country

In 2022, the export price in ECOWAS amounted to $X per unit, surging by 79% against the previous year. In general, the export price, however, faced a abrupt decline. Over the period under review, the export prices reached the maximum at $X per unit in 2012; however, from 2013 to 2022, the export prices remained at a 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 Burkina Faso ($X per unit), while Ghana ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Burkina Faso (+3.5%), while the other leaders experienced mixed trends in the export price figures.

Pedestrian-Controlled Tractor Imports

Imports in ECOWAS

Pedestrian-controlled tractor imports soared to X units in 2022, rising by 24% against 2021 figures. Overall, imports saw a slight expansion. The most prominent rate of growth was recorded in 2019 with an increase of 162% against the previous year. Over the period under review, imports reached the maximum in 2022 and are expected to retain growth in years to come.

In value terms, pedestrian-controlled tractor imports reduced to $X in 2022. In general, imports enjoyed buoyant growth. The growth pace was the most rapid in 2019 with an increase of 209%. Over the period under review, imports hit record highs at $X in 2021, and then shrank in the following year.

Imports by Country

Nigeria was the key importing country with an import of about X units, which finished at 51% of total imports. It was distantly followed by Togo (X units), Ghana (X units), Benin (X units) and Senegal (X units), together constituting a 34% share of total imports. Cote d'Ivoire (X units) and Mali (X units) held a relatively small share of total imports.

Imports into Nigeria increased at an average annual rate of +28.3% from 2012 to 2022. At the same time, Benin (+47.8%), Cote d'Ivoire (+24.5%), Mali (+20.1%) and Senegal (+9.7%) displayed positive paces of growth. Moreover, Benin emerged as the fastest-growing importer imported in ECOWAS, with a CAGR of +47.8% from 2012-2022. By contrast, Ghana (-4.9%) and Togo (-16.5%) illustrated a downward trend over the same period. Nigeria (+46 p.p.), Benin (+8.3 p.p.), Cote d'Ivoire (+3.7 p.p.), Senegal (+3.1 p.p.) and Mali (+2.8 p.p.) significantly strengthened its position in terms of the total imports, while Ghana and Togo saw its share reduced by -7.6% and -63.2% from 2012 to 2022, respectively.

In value terms, Nigeria ($X) constitutes the largest market for imported pedestrian-controlled tractors in ECOWAS, comprising 49% of total imports. The second position in the ranking was taken by Ghana ($X), with a 10% share of total imports. It was followed by Cote d'Ivoire, with a 9% share.

In Nigeria, pedestrian-controlled tractor imports expanded at an average annual rate of +25.1% over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: Ghana (-2.7% per year) and Cote d'Ivoire (+16.9% per year).

Import Prices by Country

The import price in ECOWAS stood at $X per unit in 2022, which is down by -24.3% against the previous year. Import price indicated a prominent increase from 2012 to 2022: its price increased at an average annual rate of +8.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2013 an increase of 229% against the previous year. As a result, import price reached the peak level of $X per unit. From 2014 to 2022, the import prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Cote d'Ivoire ($X per unit), while Togo ($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 (+2.3%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform