ECOWAS: Bed-Convertible Seat Market 2024

Bed-Convertible Seat Market Size in ECOWAS

The ECOWAS bed-convertible seat market expanded remarkably to $X in 2021, rising by 8.6% against the previous year. The total consumption indicated strong growth from 2012 to 2021: its value increased at an average annual rate of +5.9% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +16.8% against 2019 indices. The level of consumption peaked at $X in 2018; however, from 2019 to 2021, consumption failed to regain momentum.

Bed-Convertible Seat Production in ECOWAS

In value terms, bed-convertible seat production dropped modestly to $X in 2021 estimated in export price. The total production indicated a noticeable expansion from 2012 to 2021: its value increased at an average annual rate of +3.7% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production increased by +1.9% against 2019 indices. The most prominent rate of growth was recorded in 2017 when the production volume increased by 32% against the previous year. The level of production peaked at $X in 2018; however, from 2019 to 2021, production stood at a somewhat lower figure.

Bed-Convertible Seat Exports

Exports in ECOWAS

Bed-convertible seat exports shrank rapidly to X units in 2021, which is down by -43.1% on 2020 figures. In general, exports showed a abrupt contraction. The most prominent rate of growth was recorded in 2016 when exports increased by 481%. Over the period under review, the exports attained the maximum at X units in 2014; however, from 2015 to 2021, the exports stood at a somewhat lower figure.

In value terms, bed-convertible seat exports declined remarkably to $X in 2021. Over the period under review, exports faced a drastic downturn. The pace of growth was the most pronounced in 2016 with an increase of 350%. As a result, the exports attained the peak of $X. From 2017 to 2021, the growth of the exports remained at a lower figure.

Exports by Country

The shipments of the four major exporters of seats convertible into beds, namely Togo, Nigeria, Ghana and Senegal, represented more than two-thirds of total export. It was distantly followed by Benin (X units) and Guinea-Bissau (X units), together constituting a 16% share of total exports. Cote d'Ivoire (X units) followed a long way behind the leaders.

From 2012 to 2021, the biggest increases were recorded for Benin (with a CAGR of +58.7%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest bed-convertible seat supplying countries in ECOWAS were Benin ($X), Togo ($X) and Nigeria ($X), with a combined 60% share of total exports.

In terms of the main exporting countries, Benin, with a CAGR of +124.2%, saw 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, picking up by 22% against the previous year. Overall, the export price continues to indicate a slight expansion. The pace of growth was the most pronounced in 2015 an increase of 550%. As a result, the export price attained the peak level of $X per unit. From 2016 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 Benin ($X per unit), while Togo ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Benin (+41.2%), while the other leaders experienced more modest paces of growth.

Bed-Convertible Seat Imports

Imports in ECOWAS

Bed-convertible seat imports surged to X units in 2021, increasing by 153% against the year before. In general, imports recorded a resilient expansion. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, bed-convertible seat imports surged to $X in 2021. Over the period under review, imports saw a significant increase. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

Ghana represented the largest importer of seats convertible into beds in ECOWAS, with the volume of imports finishing at X units, which was near 45% of total imports in 2021. Cote d'Ivoire (X units) held the second position in the ranking, distantly followed by Cabo Verde (X units), Mali (X units) and Senegal (X units). All these countries together took near 46% share of total imports. Guinea (X units) took a relatively small share of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by Cote d'Ivoire (with a CAGR of +37.9%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Ghana ($X), Cote d'Ivoire ($X) and Cabo Verde ($X) appeared to be the countries with the highest levels of imports in 2021, together comprising 76% of total imports. Mali, Senegal and Guinea lagged somewhat behind, together comprising a further 17%.

Mali, with a CAGR of +41.9%, saw the highest growth rate of the value of imports, in terms of the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the import price in ECOWAS amounted to $X per unit, picking up by 3.3% against the previous year. Over the last nine years, it increased at an average annual rate of +3.7%. The growth pace was the most rapid in 2015 an increase of 41% against the previous year. As a result, import price attained the peak level of $X per unit. From 2016 to 2021, the import prices remained at a lower figure.

Average prices varied somewhat amongst the major importing countries. In 2021, major importing countries recorded the following prices: in Guinea ($X per unit) and Mali ($X per unit), while Ghana ($X per unit) and Senegal ($X per unit) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Guinea (+8.5%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform