ECOWAS: Market for Self-Propelled Fork-Lift Trucks with Non-Electric Motor 2025

Market Size for Self-Propelled Fork-Lift Trucks with Non-Electric Motor in ECOWAS

The ECOWAS self-propelled non-electric fork-lift truck market surged to $X in 2022, growing by 20% against the previous year. Over the period under review, consumption posted prominent growth. As a result, consumption attained the peak level of $X. From 2021 to 2022, the growth of the market remained at a somewhat lower figure.

Production of Self-Propelled Fork-Lift Trucks with Non-Electric Motor in ECOWAS

In value terms, self-propelled non-electric fork-lift truck production soared to $X in 2022 estimated in export price. In general, production enjoyed a prominent expansion. The growth pace was the most rapid in 2020 with an increase of 258% against the previous year. As a result, production reached the peak level of $X. From 2021 to 2022, production growth remained at a lower figure.

Exports of Self-Propelled Fork-Lift Trucks with Non-Electric Motor

Exports in ECOWAS

In 2022, after two years of growth, there was significant decline in overseas shipments of self-propelled fork-lift trucks with non-electric motor, when their volume decreased by -28.6% to X units. In general, exports recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 with an increase of 29% against the previous year. As a result, the exports reached the peak of X units. From 2018 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, self-propelled non-electric fork-lift truck exports declined notably to $X in 2022. Overall, exports, however, recorded perceptible growth. The pace of growth appeared the most rapid in 2017 when exports increased by 68% against the previous year. As a result, the exports attained the peak of $X. From 2018 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

Cote d'Ivoire (X units), Senegal (X units), Mali (X units), Ghana (X units) and Niger (X units) represented roughly 75% of total exports in 2022. Cabo Verde (X units) took a 5% share (based on physical terms) of total exports, which put it in second place, followed by Nigeria (5%), Togo (5%) and Burkina Faso (5%). Benin (X units) held a little share of total exports.

From 2012 to 2022, the biggest increases were recorded for Niger (with a CAGR of +14.9%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Cote d'Ivoire ($X) remains the largest self-propelled non-electric fork-lift truck supplier in ECOWAS, comprising 43% of total exports. The second position in the ranking was taken by Niger ($X), with an 11% share of total exports. It was followed by Senegal, with a 10% share.

From 2012 to 2022, the average annual growth rate of value in Cote d'Ivoire amounted to +11.5%. The remaining exporting countries recorded the following average annual rates of exports growth: Niger (+8.9% per year) and Senegal (+38.4% per year).

Export Prices by Country

The export price in ECOWAS stood at $X per unit in 2022, with an increase of 6.8% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +3.0%. The pace of growth appeared the most rapid in 2017 when the export price increased by 30% against the previous year. As a result, the export price reached the peak level of $X per unit. From 2018 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 Cote d'Ivoire ($X per unit), while Cabo Verde ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Senegal (+33.9%), while the other leaders experienced more modest paces of growth.

Imports of Self-Propelled Fork-Lift Trucks with Non-Electric Motor

Imports in ECOWAS

In 2022, supplies from abroad of self-propelled fork-lift trucks with non-electric motor decreased by -15.8% to X units for the first time since 2016, thus ending a five-year rising trend. Total imports indicated a perceptible expansion from 2012 to 2022: its volume increased at an average annual rate of +2.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +95.0% against 2016 indices. The pace of growth appeared the most rapid in 2021 with an increase of 33% against the previous year. As a result, imports reached the peak of X units, and then dropped remarkably in the following year.

In value terms, self-propelled non-electric fork-lift truck imports reduced to $X in 2022. In general, imports, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 when imports increased by 32%. Over the period under review, imports attained the peak figure at $X in 2021, and then contracted in the following year.

Imports by Country

The purchases of the three major importers of self-propelled fork-lift trucks with non-electric motor, namely Cote d'Ivoire, Ghana and Nigeria, represented more than two-thirds of total import. It was distantly followed by Guinea (X units), mixing up a 4.7% share of total imports. The following importers - Burkina Faso (X units), Senegal (X units), Benin (X units) and Mali (X units) - together made up 15% of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by Mali (with a CAGR of +16.7%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Nigeria ($X), Cote d'Ivoire ($X) and Ghana ($X) appeared to be the countries with the highest levels of imports in 2022, together accounting for 71% of total imports. Burkina Faso, Mali, Guinea, Senegal and Benin lagged somewhat behind, together accounting for a further 23%.

Mali, with a CAGR of +24.6%, recorded the highest rates of growth with regard to 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 2022, the import price in ECOWAS amounted to $X per unit, with an increase of 7.9% against the previous year. Over the period under review, the import price, however, continues to indicate a mild slump. The most prominent rate of growth was recorded in 2019 an increase of 14%. As a result, import price attained the peak level of $X per unit. From 2020 to 2022, the import prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Mali ($X per unit), while Ghana ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Mali (+6.7%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform