ECOWAS: Positive Displacement Pump Market 2024

Positive Displacement Pump Market Size in ECOWAS

The ECOWAS positive displacement pump market amounted to $X in 2021, growing by 3.2% against the previous year. Over the period under review, consumption, however, recorded a significant expansion. Over the period under review, the market reached the maximum level at $X in 2019; afterwards, it flattened through to 2021.

Positive Displacement Pump Production in ECOWAS

In value terms, positive displacement pump production expanded slightly to $X in 2021 estimated in export price. Overall, production recorded significant growth. The most prominent rate of growth was recorded in 2016 with an increase of 191%. Over the period under review, production attained the maximum level at $X in 2019; afterwards, it flattened through to 2021.

Positive Displacement Pump Exports

Exports in ECOWAS

Positive displacement pump exports surged to X units in 2021, rising by 101% on 2020. In general, exports enjoyed significant growth. The pace of growth appeared the most rapid in 2013 when exports increased by 357% against the previous year. Over the period under review, the exports attained the maximum at X units in 2017; however, from 2018 to 2021, the exports remained at a lower figure.

In value terms, positive displacement pump exports surged to $X in 2021. Over the period under review, exports enjoyed buoyant growth. The most prominent rate of growth was recorded in 2015 when exports increased by 517% against the previous year. Over the period under review, the exports hit record highs at $X in 2016; however, from 2017 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

In 2021, Ghana (X units) was the main exporter of positive displacement pumps and hand pumps, creating 34% of total exports. It was distantly followed by Sierra Leone (X units), Togo (X units), Burkina Faso (X units), Senegal (X units), Nigeria (X units) and Cote d'Ivoire (X units), together constituting a 64% share of total exports.

Exports from Ghana increased at an average annual rate of +28.3% from 2012 to 2021. At the same time, Togo (+108.4%), Sierra Leone (+74.1%), Burkina Faso (+26.7%), Nigeria (+16.6%), Senegal (+6.2%) and Cote d'Ivoire (+5.6%) displayed positive paces of growth. Moreover, Togo emerged as the fastest-growing exporter exported in ECOWAS, with a CAGR of +108.4% from 2012-2021. Sierra Leone (+16 p.p.), Togo (+15 p.p.), Ghana (+10 p.p.) and Burkina Faso (+3.1 p.p.) significantly strengthened its position in terms of the total exports, while Nigeria, Cote d'Ivoire and Senegal saw its share reduced by -3.4%, -14.7% and -22.7% from 2012 to 2021, respectively.

In value terms, Ghana ($X), Senegal ($X) and Nigeria ($X) constituted the countries with the highest levels of exports in 2021, with a combined 53% share of total exports. Burkina Faso, Cote d'Ivoire, Togo and Sierra Leone lagged somewhat behind, together comprising a further 46%.

Among the main exporting countries, Togo, with a CAGR of +67.2%, recorded the highest rates of growth with regard to 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

In 2021, the export price in ECOWAS amounted to $X per unit, falling by -32.3% against the previous year. Over the period under review, the export price continues to indicate a abrupt curtailment. The most prominent rate of growth was recorded in 2015 when the export price increased by 120%. As a result, the export price attained the peak level of $X per unit. From 2016 to 2021, the export prices remained at a somewhat lower figure.

Prices varied noticeably country of origin: the country with the highest price was Nigeria ($X per unit), while Sierra Leone ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Nigeria (+25.7%), while the other leaders experienced more modest paces of growth.

Positive Displacement Pump Imports

Imports in ECOWAS

In 2021, the amount of positive displacement pumps and hand pumps imported in ECOWAS contracted to X units, with a decrease of -4.8% compared with 2020. Overall, imports, however, recorded a relatively flat trend pattern. The growth pace was the most rapid in 2017 with an increase of 59%. The volume of import peaked at X units in 2013; however, from 2014 to 2021, imports remained at a lower figure.

In value terms, positive displacement pump imports rose modestly to $X in 2021. Total imports indicated a slight expansion from 2012 to 2021: its value increased at an average annual rate of +1.9% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +113.5% against 2016 indices. The pace of growth appeared the most rapid in 2017 with an increase of 53% against the previous year. The level of import peaked in 2021 and is likely to see steady growth in years to come.

Imports by Country

Nigeria was the largest importing country with an import of around X units, which recorded 44% of total imports. Burkina Faso (X units) took the second position in the ranking, followed by Cote d'Ivoire (X units) and Ghana (X units). All these countries together held near 48% share of total imports. Mali (X units) took a little share of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by Cote d'Ivoire (with a CAGR of +31.7%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Cote d'Ivoire ($X) constitutes the largest market for imported positive displacement pumps and hand pumps in ECOWAS, comprising 38% of total imports. The second position in the ranking was held by Nigeria ($X), with a 16% share of total imports. It was followed by Ghana, with a 9.3% share.

From 2012 to 2021, the average annual growth rate of value in Cote d'Ivoire stood at +23.9%. The remaining importing countries recorded the following average annual rates of imports growth: Nigeria (-1.1% per year) and Ghana (+4.4% per year).

Import Prices by Country

The import price in ECOWAS stood at $X per unit in 2021, rising by 9% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +1.3%. The pace of growth appeared the most rapid in 2014 when the import price increased by 30% against the previous year. The level of import peaked at $X per unit in 2015; however, from 2016 to 2021, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2021, the country with the highest price was Mali ($X per unit), while Burkina Faso ($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 (+4.3%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform