ECOWAS: Pneumatic Elevator Market 2024

Pneumatic Elevator Market Size in ECOWAS

The ECOWAS pneumatic elevator market surged to $X in 2022, growing by 24% against the previous year. Over the period under review, consumption posted a buoyant expansion. The level of consumption peaked in 2022 and is expected to retain growth in the near future.

Pneumatic Elevator Production in ECOWAS

In value terms, pneumatic elevator production fell slightly to $X in 2022 estimated in export price. In general, production, however, enjoyed a remarkable increase. The pace of growth appeared the most rapid in 2015 with an increase of 38%. Over the period under review, production hit record highs at $X in 2019; however, from 2020 to 2022, production failed to regain momentum.

Pneumatic Elevator Exports

Exports in ECOWAS

After three years of growth, overseas shipments of pneumatic elevators and conveyors decreased by -99.8% to X units in 2022. Over the period under review, exports recorded a mild contraction. The pace of growth was the most pronounced in 2021 when exports increased by 61,962%. As a result, the exports attained the peak of X units, and then contracted dramatically in the following year.

In value terms, pneumatic elevator exports dropped remarkably to $X in 2022. In general, exports showed a abrupt curtailment. The most prominent rate of growth was recorded in 2020 with an increase of 307%. The level of export peaked at $X in 2015; however, from 2016 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

In 2022, Togo (X units), distantly followed by Senegal (X units), Nigeria (X units) and Cote d'Ivoire (X units) were the largest exporters of pneumatic elevators and conveyors, together achieving 99.9% of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the leading exporting countries, was attained by Togo (with a CAGR of +17.0%), while the other leaders experienced more modest paces of growth.

In value terms, Togo ($X) remains the largest pneumatic elevator supplier in ECOWAS, comprising 79% of total exports. The second position in the ranking was held by Senegal ($X), with an 8.2% share of total exports. It was followed by Nigeria, with a 4.6% share.

From 2012 to 2022, the average annual growth rate of value in Togo amounted to -3.0%. The remaining exporting countries recorded the following average annual rates of exports growth: Senegal (+7.4% per year) and Nigeria (+30.9% per year).

Export Prices by Country

In 2022, the export price in ECOWAS amounted to $X per unit, with an increase of 34,270% against the previous year. Overall, the export price, however, showed a abrupt descent. The level of export peaked at $X per unit in 2014; however, from 2015 to 2022, the export prices failed to regain momentum.

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 Togo ($X per unit), while Nigeria ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Nigeria (+30.9%), while the other leaders experienced more modest paces of growth.

Pneumatic Elevator Imports

Imports in ECOWAS

In 2022, approx. X units of pneumatic elevators and conveyors were imported in ECOWAS; picking up by 2.3% against the previous year's figure. Over the period under review, imports saw noticeable growth. The pace of growth appeared the most rapid in 2014 when imports increased by 94% against the previous year. As a result, imports reached the peak of X units. From 2015 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, pneumatic elevator imports shrank sharply to $X in 2022. In general, imports continue to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2019 when imports increased by 116% against the previous year. As a result, imports reached the peak of $X. From 2020 to 2022, the growth of imports failed to regain momentum.

Imports by Country

Nigeria (X units) and Senegal (X units) represented roughly 59% of total imports in 2022. It was distantly followed by Ghana (X units), Niger (X units) and Cote d'Ivoire (X units), together making up a 25% share of total imports. Sierra Leone (X units) and Mali (X units) followed a long way behind the leaders.

From 2012 to 2022, the biggest increases were recorded for Niger (with a CAGR of +34.6%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest pneumatic elevator importing markets in ECOWAS were Nigeria ($X), Senegal ($X) and Cote d'Ivoire ($X), with a combined 69% share of total imports. Ghana, Niger, Mali and Sierra Leone lagged somewhat behind, together comprising a further 18%.

Among the main importing countries, Niger, with a CAGR of +35.8%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in ECOWAS stood at $X per unit in 2022, waning by -22.7% against the previous year. Overall, the import price saw a pronounced downturn. The pace of growth appeared the most rapid in 2017 an increase of 19%. The level of import peaked at $X per unit in 2019; however, from 2020 to 2022, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Cote d'Ivoire ($X per unit), while Niger ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Cote d'Ivoire (+4.3%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform