ECOWAS: Market for Primary Cells and Batteries 2024

Market Size for Primary Cells and Batteries in ECOWAS

In 2022, the ECOWAS primary cell and battery market decreased by -0.4% to $X, falling for the second consecutive year after four years of growth. The market value increased at an average annual rate of +2.2% from 2012 to 2022; however, the trend pattern remained consistent, with somewhat noticeable fluctuations throughout the analyzed period. Over the period under review, the market attained the maximum level at $X in 2020; however, from 2021 to 2022, consumption stood at a somewhat lower figure.

Production of Primary Cells and Batteries in ECOWAS

In value terms, primary cell and battery production totaled $X in 2022 estimated in export price. The total output value increased at an average annual rate of +3.0% over the period from 2012 to 2022; however, the trend pattern remained consistent, with only minor fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2014 with an increase of 14%. Over the period under review, production attained the maximum level at $X in 2017; however, from 2018 to 2022, production stood at a somewhat lower figure.

Exports of Primary Cells and Batteries

Exports in ECOWAS

In 2022, approx. X units of primary cells and batteries were exported in ECOWAS; remaining stable against 2021 figures. Overall, exports recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2016 with an increase of 72% against the previous year. As a result, the exports attained the peak of X units. From 2017 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, primary cell and battery exports shrank to $X in 2022. Over the period under review, exports, however, showed a pronounced contraction. The pace of growth appeared the most rapid in 2016 when exports increased by 123%. As a result, the exports attained the peak of $X. From 2017 to 2022, the growth of the exports remained at a somewhat lower figure.

Exports by Country

In value terms, Mali ($X) remains the largest primary cell and battery supplier in ECOWAS, comprising 52% of total exports. The second position in the ranking was held by Togo ($X), with a 20% share of total exports. It was followed by Gambia, with an 8.8% share.

In Mali, primary cell and battery exports increased at an average annual rate of +8.5% over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: Togo (+19.4% per year) and Gambia (-12.2% per year).

Export Prices by Country

The export price in ECOWAS stood at $X per unit in 2022, shrinking by -5.9% against the previous year. In general, the export price showed a abrupt decline. The most prominent rate of growth was recorded in 2013 an increase of 74%. The level of export peaked 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 Gambia ($X per unit), while Mali ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Niger (+0.1%), while the other leaders experienced a decline in the export price figures.

Imports of Primary Cells and Batteries

Imports in ECOWAS

In 2022, primary cell and battery imports in ECOWAS soared to X units, with an increase of 18% against the year before. In general, imports, however, saw a slight descent. The most prominent rate of growth was recorded in 2019 with an increase of 88% against the previous year. Over the period under review, imports attained the maximum at X units in 2015; however, from 2016 to 2022, imports stood at a somewhat lower figure.

In value terms, primary cell and battery imports stood at $X in 2022. Overall, imports, however, showed a perceptible decline. The growth pace was the most rapid in 2019 with an increase of 40% against the previous year. Over the period under review, imports attained the maximum at $X in 2015; however, from 2016 to 2022, imports failed to regain momentum.

Imports by Country

Ghana represented the largest importing country with an import of around X units, which recorded 47% of total imports. Guinea (X units) ranks second in terms of the total imports with a 22% share, followed by Sierra Leone (12%) and Liberia (11%). Cote d'Ivoire (X units) and Nigeria (X units) followed a long way behind the leaders.

Imports into Ghana decreased at an average annual rate of -1.7% from 2012 to 2022. At the same time, Sierra Leone (+10.5%) and Cote d'Ivoire (+1.0%) displayed positive paces of growth. Moreover, Sierra Leone emerged as the fastest-growing importer imported in ECOWAS, with a CAGR of +10.5% from 2012-2022. Liberia experienced a relatively flat trend pattern. By contrast, Guinea (-5.0%) and Nigeria (-10.7%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Sierra Leone and Liberia increased by +8.1 and +1.9 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Ghana ($X), Guinea ($X) and Nigeria ($X) were the countries with the highest levels of imports in 2022, together comprising 62% of total imports. Cote d'Ivoire, Sierra Leone and Liberia lagged somewhat behind, together comprising a further 23%.

Among the main importing countries, Sierra Leone, with a CAGR of +0.7%, 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 a decline in the imports figures.

Import Prices by Country

The import price in ECOWAS stood at $X per unit in 2022, declining by -11.5% against the previous year. In general, the import price showed a slight decrease. The pace of growth appeared the most rapid in 2016 when the import price increased by 61% against the previous year. As a result, import price attained the peak level of $X per unit. From 2017 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 Nigeria ($X per unit), while Sierra Leone ($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 (+8.2%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform