ECOWAS: Liquid Dispensing Pump Market 2024

Liquid Dispensing Pump Market Size in ECOWAS

In 2021, the ECOWAS liquid dispensing pump market increased by 20% to $X, rising for the fourth year in a row after three years of decline. In general, consumption saw buoyant growth. The level of consumption peaked in 2021 and is likely to see gradual growth in the near future.

Liquid Dispensing Pump Production in ECOWAS

In value terms, liquid dispensing pump production contracted sharply to $X in 2021 estimated in export price. Over the period under review, production, however, enjoyed buoyant growth. The pace of growth was the most pronounced in 2013 when the production volume increased by 365%. The level of production peaked at $X in 2020, and then reduced notably in the following year.

Liquid Dispensing Pump Exports

Exports in ECOWAS

In 2021, liquid dispensing pump exports in ECOWAS reduced to X units, declining by -2.5% compared with 2020 figures. Over the period under review, exports, however, saw a relatively flat trend pattern. The growth pace was the most rapid in 2015 when exports increased by 150% against the previous year. The volume of export peaked at X units in 2017; however, from 2018 to 2021, the exports remained at a lower figure.

In value terms, liquid dispensing pump exports soared to $X in 2021. In general, exports, however, showed prominent growth. The most prominent rate of growth was recorded in 2020 with an increase of 119%. The level of export peaked at $X in 2013; however, from 2014 to 2021, the exports failed to regain momentum.

Exports by Country

Togo (X units) and Nigeria (X units) represented roughly 77% of total exports in 2021. It was distantly followed by Cote d'Ivoire (X units), generating a 16% share of total exports. Senegal (X units) held a relatively small share of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main exporting countries, was attained by Togo (with a CAGR of +73.1%), while the other leaders experienced more modest paces of growth.

In value terms, Cote d'Ivoire ($X), Nigeria ($X) and Togo ($X) constituted the countries with the highest levels of exports in 2021, with a combined 83% share of total exports.

Togo, with a CAGR of +43.4%, saw 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, jumping by 51% against the previous year. Overall, the export price showed notable growth. The pace of growth appeared the most rapid in 2020 an increase of 105%. Over the period under review, the export prices reached the peak figure at $X per unit in 2014; however, from 2015 to 2021, the export prices remained at a lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Cote d'Ivoire (+13.8%), while the other leaders experienced mixed trends in the export price figures.

Liquid Dispensing Pump Imports

Imports in ECOWAS

In 2021, approx. X units of pumps for dispensing liquids were imported in ECOWAS; with an increase of 34% on the year before. Overall, imports showed resilient growth. The pace of growth appeared the most rapid in 2014 when imports increased by 63% against the previous year. The volume of import peaked in 2021 and is expected to retain growth in years to come.

In value terms, liquid dispensing pump imports soared to $X in 2021. In general, imports enjoyed a strong expansion. The most prominent rate of growth was recorded in 2014 when imports increased by 125% against the previous year. The level of import peaked in 2021 and is likely to see steady growth in the immediate term.

Imports by Country

Nigeria dominates imports structure, accounting for X units, which was approx. 67% of total imports in 2021. Burkina Faso (X units) held the second position in the ranking, followed by Senegal (X units) and Ghana (X units). All these countries together took near 22% share of total imports. Mali (X units), Gambia (X units) and Cote d'Ivoire (X units) held a minor share of total imports.

Nigeria was also the fastest-growing in terms of the pumps for dispensing liquids imports, with a CAGR of +31.8% from 2012 to 2021. At the same time, Burkina Faso (+24.5%), Gambia (+14.5%), Senegal (+7.5%), Mali (+3.0%) and Ghana (+1.2%) displayed positive paces of growth. Cote d'Ivoire experienced a relatively flat trend pattern. From 2012 to 2021, the share of Nigeria and Burkina Faso increased by +47 and +4 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Nigeria ($X) constitutes the largest market for imported pumps for dispensing liquids in ECOWAS, comprising 67% of total imports. The second position in the ranking was held by Ghana ($X), with a 6.5% share of total imports. It was followed by Senegal, with a 5.1% share.

From 2012 to 2021, the average annual growth rate of value in Nigeria amounted to +30.5%. The remaining importing countries recorded the following average annual rates of imports growth: Ghana (+2.9% per year) and Senegal (+11.4% per year).

Import Prices by Country

In 2021, the import price in ECOWAS amounted to $X per unit, increasing by 22% against the previous year. Over the period under review, the import price, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 an increase of 38%. As a result, import price attained the peak level of $X per unit. From 2015 to 2021, the 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 ($X per unit), while Gambia ($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 (+14.7%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform