ECOWAS: Self-Propelled Rock Cutter Market 2024

Self-Propelled Rock Cutter Market Size in ECOWAS

The ECOWAS self-propelled rock cutter market soared to $X in 2021, picking up by 70% against the previous year. Over the period under review, consumption recorded a prominent expansion. Over the period under review, the market hit record highs in 2021 and is expected to retain growth in years to come.

Self-Propelled Rock Cutter Production in ECOWAS

In value terms, self-propelled rock cutter production declined dramatically to $X in 2021 estimated in export price. Overall, production showed a deep downturn. The most prominent rate of growth was recorded in 2017 with an increase of 27,593%. As a result, production attained the peak level of $X. From 2018 to 2021, production growth failed to regain momentum.

Self-Propelled Rock Cutter Exports

Exports in ECOWAS

In 2021, the amount of self-propelled coal or rock cutters and tunnelling machinery exported in ECOWAS dropped rapidly to X units, with a decrease of -30.6% against the previous year. Overall, exports, however, continue to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2017 with an increase of 36,947%. As a result, the exports reached the peak of X units. From 2018 to 2021, the growth of the exports remained at a lower figure.

In value terms, self-propelled rock cutter exports skyrocketed to $X in 2021. Over the period under review, exports, however, posted a resilient increase. The most prominent rate of growth was recorded in 2016 when exports increased by 1,810% against the previous year. Over the period under review, the exports reached the maximum at $X in 2018; however, from 2019 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Nigeria represented the major exporting country with an export of about X units, which accounted for 66% of total exports. It was distantly followed by Senegal (X units), comprising a 34% share of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the key exporting countries, was attained by Nigeria (with a CAGR of +72.3%).

In value terms, Senegal ($X) emerged as the largest self-propelled rock cutter supplier in ECOWAS, comprising 43% of total exports. The second position in the ranking was taken by Nigeria ($X), with an 11% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value in Senegal was relatively modest.

Export Prices by Country

In 2021, the export price in ECOWAS amounted to $X per unit, increasing by 92% against the previous year. Overall, the export price saw strong growth. The pace of growth appeared the most rapid in 2018 when the export price increased by 255,980% against the previous year. The level of export peaked in 2021 and is likely to continue growth in the near future.

Prices varied noticeably country of origin: the country with the highest price was Senegal ($X per unit), while Nigeria totaled $X per unit.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Nigeria (+10.7%).

Self-Propelled Rock Cutter Imports

Imports in ECOWAS

In 2021, overseas purchases of self-propelled coal or rock cutters and tunnelling machinery were finally on the rise to reach X units after two years of decline. Over the period under review, imports, however, continue to indicate a abrupt decline. The most prominent rate of growth was recorded in 2018 when imports increased by 218%. Over the period under review, imports hit record highs at X units in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

In value terms, self-propelled rock cutter imports surged to $X in 2021. In general, imports recorded a resilient increase. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

Ghana represented the main importer of self-propelled coal or rock cutters and tunnelling machinery in ECOWAS, with the volume of imports recording X units, which was near 46% of total imports in 2021. It was distantly followed by Guinea (X units), Cote d'Ivoire (X units) and Nigeria (X units), together committing a 48% share of total imports. The following importers - Sierra Leone (X units) and Senegal (X units) - each resulted at a 3.6% share of total imports.

From 2012 to 2021, the biggest increases were recorded for Guinea (with a CAGR of +53.9%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Ghana ($X) constitutes the largest market for imported self-propelled coal or rock cutters and tunnelling machinery in ECOWAS, comprising 66% of total imports. The second position in the ranking was taken by Guinea ($X), with a 15% share of total imports. It was followed by Cote d'Ivoire, with a 12% share.

In Ghana, self-propelled rock cutter imports increased at an average annual rate of +24.0% over the period from 2012-2021. In the other countries, the average annual rates were as follows: Guinea (+57.5% per year) and Cote d'Ivoire (+28.0% per year).

Import Prices by Country

In 2021, the import price in ECOWAS amounted to $X per unit, with an increase of 25% against the previous year. Overall, the import price enjoyed significant growth. The pace of growth was the most pronounced in 2017 when the import price increased by 149% against the previous year. Over the period under review, import prices hit record highs in 2021 and is likely to see steady growth in the near future.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Guinea (+2.2%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform