ECOWAS: Pile-Driver Market 2024

Pile-Driver Market Size in ECOWAS

In 2021, the ECOWAS pile-driver market decreased by -13.9% to $X for the first time since 2018, thus ending a two-year rising trend. Over the period under review, consumption, however, recorded a relatively flat trend pattern. The level of consumption peaked at $X in 2014; however, from 2015 to 2021, consumption remained at a lower figure.

Pile-Driver Production in ECOWAS

In value terms, pile-driver production skyrocketed to $X in 2021 estimated in export price. The total production indicated a resilient 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, production increased by +91.4% against 2019 indices. As a result, production attained the peak level and is likely to continue growth in the immediate term.

Pile-Driver Exports

Exports in ECOWAS

In 2021, approx. X units of pile-drivers and pile-extractors were exported in ECOWAS; which is down by -6.3% on the year before. Overall, exports, however, saw a significant increase. The pace of growth was the most pronounced in 2013 with an increase of 413%. Over the period under review, the exports reached the peak figure at X units in 2019; however, from 2020 to 2021, the exports remained at a lower figure.

In value terms, pile-driver exports reduced sharply to $X in 2021. In general, exports, however, saw a prominent increase. The most prominent rate of growth was recorded in 2013 with an increase of 395% against the previous year. The level of export peaked at $X in 2019; however, from 2020 to 2021, the exports remained at a lower figure.

Exports by Country

Senegal represented the major exporter of pile-drivers and pile-extractors in ECOWAS, with the volume of exports reaching X units, which was near 56% of total exports in 2021. Cote d'Ivoire (X units) ranks second in terms of the total exports with a 25% share, followed by Mali (7.7%). The following exporters - Togo (X units), Nigeria (X units), Benin (X units) and Ghana (X units) - together made up 11% of total exports.

From 2012 to 2021, average annual rates of growth with regard to pile-driver exports from Senegal stood at +39.0%. At the same time, Mali (+100.0%), Cote d'Ivoire (+20.1%) and Benin (+12.2%) displayed positive paces of growth. Moreover, Mali emerged as the fastest-growing exporter exported in ECOWAS, with a CAGR of +100.0% from 2012-2021. Ghana experienced a relatively flat trend pattern. By contrast, Nigeria (-5.5%) and Togo (-25.7%) illustrated a downward trend over the same period. Senegal (+36 p.p.), Mali (+7.7 p.p.), Togo (+3.8 p.p.) and Benin (+1.9 p.p.) significantly strengthened its position in terms of the total exports, while Cote d'Ivoire, Ghana and Nigeria saw its share reduced by -8.3%, -11.4% and -30.4% from 2012 to 2021, respectively.

In value terms, Senegal ($X), Cote d'Ivoire ($X) and Nigeria ($X) constituted the countries with the highest levels of exports in 2021, with a combined 72% share of total exports. These countries were followed by Benin, Mali, Togo and Ghana, which together accounted for a further 27%.

Mali, with a CAGR of +149.2%, recorded the highest rates of growth with regard to the value of exports, in terms of the main exporting countries over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the export price in ECOWAS amounted to $X per unit, reducing by -57.9% against the previous year. Over the period under review, the export price faced a deep reduction. The growth pace was the most rapid in 2017 when the export price increased by 97%. The level of export peaked at $X per unit in 2014; however, from 2015 to 2021, the export prices stood at a somewhat lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Mali (+24.6%), while the other leaders experienced more modest paces of growth.

Pile-Driver Imports

Imports in ECOWAS

After two years of growth, purchases abroad of pile-drivers and pile-extractors decreased by -47.5% to X units in 2021. Overall, imports recorded a abrupt shrinkage. The most prominent rate of growth was recorded in 2020 when imports increased by 86%. The volume of import peaked at X units in 2013; however, from 2014 to 2021, imports failed to regain momentum.

In value terms, pile-driver imports reduced dramatically to $X in 2021. In general, imports, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 when imports increased by 67% against the previous year. As a result, imports attained the peak of $X. From 2015 to 2021, the growth of imports remained at a somewhat lower figure.

Imports by Country

Nigeria (X units) and Cote d'Ivoire (X units) represented the key importers of pile-drivers and pile-extractors in 2021, amounting to approx. 34% and 30% of total imports, respectively. Benin (X units) held the next position in the ranking, distantly followed by Senegal (X units). All these countries together held near 26% share of total imports. Cabo Verde (X units), Guinea (X units) and Ghana (X units) followed a long way behind the leaders.

From 2012 to 2021, the biggest increases were recorded for Benin (with a CAGR of +64.5%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Nigeria ($X) constitutes the largest market for imported pile-drivers and pile-extractors in ECOWAS, comprising 50% of total imports. The second position in the ranking was taken by Senegal ($X), with a 15% share of total imports. It was followed by Cote d'Ivoire, with an 11% share.

In Nigeria, pile-driver imports remained relatively stable over the period from 2012-2021. In the other countries, the average annual rates were as follows: Senegal (+50.8% per year) and Cote d'Ivoire (+39.5% per year).

Import Prices by Country

In 2021, the import price in ECOWAS amounted to $X per unit, picking up by 12% against the previous year. In general, the import price recorded a resilient increase. The pace of growth was the most pronounced in 2014 when the import price increased by 74%. The level of import peaked at $X per unit in 2019; however, from 2020 to 2021, import prices failed to regain momentum.

Prices varied noticeably country of destination: the country with the highest price was Senegal ($X per unit), while Cabo Verde ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Senegal (+20.4%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform