ECOWAS: Market for Pneumatic Linear Acting Actuators 2024

Market Size for Pneumatic Linear Acting Actuators in ECOWAS

In 2022, the ECOWAS pneumatic linear acting actuator market decreased by -8.8% to $X, falling for the third consecutive year after three years of growth. The total consumption indicated measured growth from 2012 to 2022: its value increased at an average annual rate of +4.1% 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 -11.1% against 2019 indices. Over the period under review, the market reached the peak level at $X in 2019; however, from 2020 to 2022, consumption stood at a somewhat lower figure.

Production of Pneumatic Linear Acting Actuators in ECOWAS

In value terms, pneumatic linear acting actuator production dropped to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +3.2% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2017 with an increase of 24%. Over the period under review, production attained the peak level at $X in 2018; however, from 2019 to 2022, production remained at a lower figure.

Exports of Pneumatic Linear Acting Actuators

Exports in ECOWAS

In 2022, approx. X units of pneumatic linear acting actuators were exported in ECOWAS; increasing by 7% against the previous year. Over the period under review, exports recorded prominent growth. The growth pace was the most rapid in 2019 when exports increased by 355%. Over the period under review, the exports reached the peak figure at X units in 2020; however, from 2021 to 2022, the exports failed to regain momentum.

In value terms, pneumatic linear acting actuator exports skyrocketed to $X in 2022. In general, exports recorded a remarkable increase. The pace of growth appeared the most rapid in 2019 with an increase of 241% against the previous year. The level of export peaked at $X in 2020; however, from 2021 to 2022, the exports remained at a lower figure.

Exports by Country

Ghana represented the main exporting country with an export of about X units, which finished at 76% of total exports. Nigeria (X units) ranks second in terms of the total exports with an 11% share, followed by Senegal (4.7%) and Cabo Verde (4.5%). Benin (X units) took a minor share of total exports.

From 2012 to 2022, average annual rates of growth with regard to pneumatic linear acting actuator exports from Ghana stood at +10.0%. At the same time, Senegal (+40.0%), Cabo Verde (+22.6%), Nigeria (+6.9%) and Benin (+3.0%) displayed positive paces of growth. Moreover, Senegal emerged as the fastest-growing exporter exported in ECOWAS, with a CAGR of +40.0% from 2012-2022. While the share of Ghana (+7.7 p.p.), Senegal (+4.3 p.p.) and Cabo Verde (+3.2 p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Benin (-2 p.p.) and Nigeria (-2.3 p.p.) displayed negative dynamics.

In value terms, Ghana ($X) remains the largest pneumatic linear acting actuator supplier in ECOWAS, comprising 76% of total exports. The second position in the ranking was held by Nigeria ($X), with a 13% share of total exports. It was followed by Cabo Verde, with a 4.9% share.

In Ghana, pneumatic linear acting actuator exports expanded at an average annual rate of +10.6% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Nigeria (+4.8% per year) and Cabo Verde (+23.6% per year).

Export Prices by Country

The export price in ECOWAS stood at $X per unit in 2022, with an increase of 21% against the previous year. Overall, the export price, however, saw a relatively flat trend pattern. The growth pace was the most rapid in 2013 when the export price increased by 72%. Over the period under review, the export prices attained the maximum at $X per unit in 2014; however, from 2015 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Nigeria ($X per unit), while Benin ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Cabo Verde (+0.8%), while the other leaders experienced mixed trends in the export price figures.

Imports of Pneumatic Linear Acting Actuators

Imports in ECOWAS

In 2022, after five years of growth, there was significant decline in supplies from abroad of pneumatic linear acting actuators, when their volume decreased by -37.4% to X units. Overall, imports, however, continue to indicate significant growth. The growth pace was the most rapid in 2015 with an increase of 131% against the previous year. Over the period under review, imports reached the peak figure at X units in 2021, and then reduced notably in the following year.

In value terms, pneumatic linear acting actuator imports reduced rapidly to $X in 2022. In general, imports, however, recorded a strong expansion. The pace of growth appeared the most rapid in 2015 when imports increased by 133% against the previous year. The level of import peaked at $X in 2019; however, from 2020 to 2022, imports stood at a somewhat lower figure.

Imports by Country

Nigeria was the key importer of pneumatic linear acting actuators in ECOWAS, with the volume of imports reaching X units, which was near 68% of total imports in 2022. It was distantly followed by Ghana (X units), achieving a 20% share of total imports. Cote d'Ivoire (X units), Guinea (X units) and Mali (X units) followed a long way behind the leaders.

From 2012 to 2022, average annual rates of growth with regard to pneumatic linear acting actuator imports into Nigeria stood at +25.7%. At the same time, Guinea (+39.4%), Cote d'Ivoire (+21.0%), Ghana (+17.1%) and Mali (+15.0%) displayed positive paces of growth. Moreover, Guinea emerged as the fastest-growing importer imported in ECOWAS, with a CAGR of +39.4% from 2012-2022. While the share of Nigeria (+14 p.p.) and Guinea (+2.4 p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Ghana (-12.6 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Nigeria ($X) constitutes the largest market for imported pneumatic linear acting actuators in ECOWAS, comprising 63% of total imports. The second position in the ranking was taken by Ghana ($X), with a 15% share of total imports. It was followed by Cote d'Ivoire, with a 6.7% share.

From 2012 to 2022, the average annual growth rate of value in Nigeria amounted to +19.6%. The remaining importing countries recorded the following average annual rates of imports growth: Ghana (+4.9% per year) and Cote d'Ivoire (+8.6% per year).

Import Prices by Country

In 2022, the import price in ECOWAS amounted to $X per unit, rising by 13% against the previous year. Overall, the import price, however, continues to indicate a abrupt slump. Over the period under review, import prices attained the peak figure at $X per unit in 2016; however, from 2017 to 2022, import prices remained at a 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 Mali ($X per unit), while Ghana ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Mali (+0.8%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform