ECOWAS: Steam Blasting Machine Market 2024

Steam Blasting Machine Market Size in ECOWAS

The ECOWAS steam blasting machine market skyrocketed to $X in 2021, with an increase of 35% against the previous year. The market value increased at an average annual rate of +2.6% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, consumption reached the peak level of $X. From 2015 to 2021, the growth of the market remained at a lower figure.

Steam Blasting Machine Production in ECOWAS

In value terms, steam blasting machine production skyrocketed to $X in 2021 estimated in export price. In general, production continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2014 with an increase of 39%. The level of production peaked at $X in 2019; however, from 2020 to 2021, production stood at a somewhat lower figure.

Steam Blasting Machine Exports

Exports in ECOWAS

In 2021, exports of steam or sand blasting machines and similar jet-projecting machines in ECOWAS reduced markedly to X units, waning by -74.4% against the previous year. Over the period under review, exports, however, saw a tangible expansion. The most prominent rate of growth was recorded in 2020 when exports increased by 245%. As a result, the exports attained the peak of X units, and then reduced notably in the following year.

In value terms, steam blasting machine exports reduced rapidly to $X in 2021. In general, exports recorded a relatively flat trend pattern. The growth pace was the most rapid in 2020 when exports increased by 147%. Over the period under review, the exports attained the maximum at $X in 2013; however, from 2014 to 2021, the exports failed to regain momentum.

Exports by Country

Cabo Verde (X units) and Ghana (X units) represented the key exporters of steam or sand blasting machines and similar jet-projecting machines in 2021, recording approx. 42% and 36% of total exports, respectively. Cote d'Ivoire (X units) held the next position in the ranking, followed by Togo (X units) and Nigeria (X units). All these countries together took approx. 21% 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 Cabo Verde (with a CAGR of +50.9%), while the other leaders experienced more modest paces of growth.

In value terms, Ghana ($X), Cabo Verde ($X) and Cote d'Ivoire ($X) constituted the countries with the highest levels of exports in 2021, with a combined 16% share of total exports.

Ghana, with a CAGR of +31.9%, 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 mixed trends in the exports figures.

Export Prices by Country

In 2021, the export price in ECOWAS amounted to $X per unit, surging by 154% against the previous year. Over the period under review, the export price, however, recorded a perceptible reduction. The level of export peaked at $X per unit in 2013; however, from 2014 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, amid the top suppliers, the country with the highest price was Nigeria ($X per unit), while Cabo Verde ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Ghana (+11.5%), while the other leaders experienced a decline in the export price figures.

Steam Blasting Machine Imports

Imports in ECOWAS

In 2021, supplies from abroad of steam or sand blasting machines and similar jet-projecting machines increased by 175% to X units, rising for the fifth year in a row after two years of decline. Overall, imports saw prominent growth. The pace of growth appeared the most rapid in 2014 with an increase of 365% against the previous year. As a result, imports attained the peak of X units. From 2015 to 2021, the growth of imports remained at a somewhat lower figure.

In value terms, steam blasting machine imports surged to $X in 2021. Over the period under review, imports posted significant growth. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

Nigeria dominates imports structure, reaching X units, which was approx. 77% of total imports in 2021. Burkina Faso (X units) held a 7.5% share (based on physical terms) of total imports, which put it in second place, followed by Cote d'Ivoire (5.5%). The following importers - Ghana (X units) and Senegal (X units) - each finished at a 6.8% share of total imports.

From 2012 to 2021, average annual rates of growth with regard to steam blasting machine imports into Nigeria stood at +20.3%. At the same time, Senegal (+24.2%), Burkina Faso (+15.6%) and Cote d'Ivoire (+7.3%) displayed positive paces of growth. Moreover, Senegal emerged as the fastest-growing importer imported in ECOWAS, with a CAGR of +24.2% from 2012-2021. Ghana experienced a relatively flat trend pattern. While the share of Nigeria (+18 p.p.) increased significantly in terms of the total imports from 2012-2021, the share of Cote d'Ivoire (-6.2 p.p.) and Ghana (-9.4 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Nigeria ($X) constitutes the largest market for imported steam or sand blasting machines and similar jet-projecting machines in ECOWAS, comprising 81% of total imports. The second position in the ranking was held by Ghana ($X), with a 5.8% share of total imports. It was followed by Cote d'Ivoire, with a 5.5% share.

From 2012 to 2021, the average annual rate of growth in terms of value in Nigeria totaled +34.4%. In the other countries, the average annual rates were as follows: Ghana (+7.0% per year) and Cote d'Ivoire (+9.2% per year).

Import Prices by Country

The import price in ECOWAS stood at $X per unit in 2021, rising by 20% against the previous year. Overall, the import price continues to indicate a prominent expansion. The most prominent rate of growth was recorded in 2015 an increase of 220% against the previous year. Over the period under review, import prices hit record highs at $X per unit in 2017; however, from 2018 to 2021, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2021, amid the top importers, the country with the highest price was Ghana ($X per unit), while Burkina Faso ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Nigeria (+11.8%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform