Report Update Nov 1, 2024

ECOWAS - Steam Turbines and Other Vapor Turbines - Market Analysis, Forecast, Size, Trends and Insights

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ECOWAS: Steam Turbine Market 2024

Steam Turbine Market Size in ECOWAS

In 2021, the ECOWAS steam turbine market decreased by -30.5% to $X for the first time since 2013, thus ending a seven-year rising trend. Over the period under review, consumption, however, saw a significant increase. The level of consumption peaked at $X in 2020, and then declined significantly in the following year.

Steam Turbine Production in ECOWAS

In value terms, steam turbine production fell slightly to $X in 2021 estimated in export price. Overall, production, however, posted a significant increase. The pace of growth appeared the most rapid in 2014 when the production volume increased by 608% against the previous year. Over the period under review, production hit record highs at $X in 2020, and then dropped modestly in the following year.

Steam Turbine Exports

Exports in ECOWAS

Steam turbine exports declined dramatically to X units in 2021, with a decrease of -64.7% against 2020 figures. In general, exports faced a abrupt decline. The pace of growth was the most pronounced in 2016 when exports increased by 927%. As a result, the exports attained the peak of X units. From 2017 to 2021, the growth of the exports failed to regain momentum.

In value terms, steam turbine exports reduced dramatically to $X in 2021. Overall, exports faced a abrupt downturn. The pace of growth was the most pronounced in 2016 with an increase of 69% against the previous year. As a result, the exports attained the peak of $X. From 2017 to 2021, the growth of the exports remained at a somewhat lower figure.

Exports by Country

In 2021, Nigeria (X units) represented the major exporter of steam turbines and other vapor turbines in ECOWAS, achieving 100% of total export.

Nigeria was also the fastest-growing in terms of the steam turbines and other vapor turbines exports, with a CAGR of +8.0% from 2012 to 2021. Nigeria (+89 p.p.) significantly strengthened its position in terms of the total exports, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Nigeria ($X) also remains the largest steam turbine supplier in ECOWAS.

In Nigeria, steam turbine exports shrank by an average annual rate of -9.7% over the period from 2012-2021.

Export Prices by Country

In 2021, the export price in ECOWAS amounted to $X per unit, surging by 130% against the previous year. Overall, the export price continues to indicate strong growth. The most prominent rate of growth was recorded in 2019 when the export price increased by 201%. As a result, the export price reached the peak level of $X per unit. From 2020 to 2021, the export prices remained at a lower figure.

As there is only one major export destination, the average price level is determined by prices for Nigeria.

From 2012 to 2021, the rate of growth in terms of prices for Nigeria amounted to -16.4% per year.

Steam Turbine Imports

Imports in ECOWAS

Steam turbine imports fell to X units in 2021, waning by -3.5% on 2020. Overall, imports, however, saw strong growth. The pace of growth appeared the most rapid in 2016 with an increase of 202%. As a result, imports attained the peak of X units. From 2017 to 2021, the growth of imports failed to regain momentum.

In value terms, steam turbine imports soared to $X in 2021. In general, imports, however, enjoyed resilient growth. The most prominent rate of growth was recorded in 2015 with an increase of 100%. Over the period under review, imports reached the peak figure at $X in 2016; afterwards, it flattened through to 2021.

Imports by Country

Nigeria dominates imports structure, recording X units, which was approx. 94% of total imports in 2021. It was distantly followed by Togo (X units), making up a 4.7% share of total imports.

From 2012 to 2021, average annual rates of growth with regard to steam turbine imports into Nigeria stood at +17.9%. At the same time, Togo (+82.7%) displayed positive paces of growth. Moreover, Togo emerged as the fastest-growing importer imported in ECOWAS, with a CAGR of +82.7% from 2012-2021. From 2012 to 2021, the share of Nigeria and Togo increased by +54 and +4.7 percentage points, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Nigeria ($X) constitutes the largest market for imported steam turbines and other vapor turbines in ECOWAS, comprising 46% of total imports. The second position in the ranking was taken by Togo ($X), with an 18% share of total imports.

In Nigeria, steam turbine imports increased at an average annual rate of +14.8% over the period from 2012-2021.

Import Prices by Country

In 2021, the import price in ECOWAS amounted to $X per unit, surging by 63% against the previous year. Over the period under review, the import price saw a tangible expansion. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major importing countries. In 2021, the country with the highest price was Togo ($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 Togo (+22.3%).

Source: IndexBox Platform

This report provides an in-depth analysis of the steam turbine market in ECOWAS. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

Prodcom 28112130 -
Prodcom 28112150 -

Country coverage:

Benin
Burkina Faso
Cabo Verde
Gambia
Ghana
Guinea
Guinea-Bissau
Liberia
Mali
Niger
Nigeria
Senegal
Sierra Leone
Togo
Cote d'Ivoire

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Production in ECOWAS, split by region and country
Trade (exports and imports) in ECOWAS
Export and import prices
Market trends, drivers and restraints
Key market players and their profiles

Reasons to buy this report:

Take advantage of the latest data
Find deeper insights into current market developments
Discover vital success factors affecting the market

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

How to diversify your business and benefit from new market opportunities
How to load your idle production capacity
How to boost your sales on overseas markets
How to increase your profit margins
How to make your supply chain more sustainable
How to reduce your production and supply chain costs
How to outsource production to other countries
How to prepare your business for global expansion

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business
1. REPORT DESCRIPTION
2. RESEARCH METHODOLOGY AND AI PLATFORM
3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
4. GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance
1. KEY FINDINGS
2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects
1. MARKET SIZE
2. CONSUMPTION BY COUNTRY
3. MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT

Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO
1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
2. BEST-SELLING PRODUCTS
3. MOST CONSUMED PRODUCT
4. MOST TRADED PRODUCT
5. MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO
1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
2. TOP PRODUCING COUNTRIES
3. TOP EXPORTING COUNTRIES
4. LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO
1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
2. TOP CONSUMING MARKETS
3. UNSATURATED MARKETS
4. TOP IMPORTING MARKETS
5. MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION VOLUME AND VALUE
2. PRODUCTION BY COUNTRY
8. IMPORTS
The Largest Importers on The Market and How They Succeed
1. IMPORTS FROM 2012–2023
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Exporters on The Market and How They Succeed
1. EXPORTS FROM 2012–2023
2. EXPORTS BY COUNTRY
3. EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO
11. COUNTRY PROFILES

The Largest Markets And Their Profiles
This Chapter is Available Only for the Professional Edition PRO
- Benin
- Burkina Faso
- Cabo Verde
- Gambia
- Ghana
- Guinea
- Guinea-Bissau
- Liberia
- Mali
- Niger
- Nigeria
- Senegal
- Sierra Leone
- Togo
- Cote d'Ivoire
LIST OF TABLES
1. Key Findings In 2023
2. Market Volume, In Physical Terms, 2012–2023
3. Market Value, 2012–2023
4. Per Capita Consumption, By Country, 2018–2023
5. Production, In Physical Terms, By Country, 2012–2023
6. Imports, In Physical Terms, By Country, 2012–2023
7. Imports, In Value Terms, By Country, 2012–2023
8. Import Prices, By Country Of Destination, 2012–2023
9. Exports, In Physical Terms, By Country, 2012–2023
10. Exports, In Value Terms, By Country, 2012–2023
11. Export Prices, By Country Of Origin, 2012–2023
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2023
2. Market Value, 2012–2023
3. Consumption, By Country, 2023
4. Market Volume Forecast to 2030
5. Market Value Forecast to 2030
6. Products: Market Size And Growth, By Type
7. Products: Average Per Capita Consumption, By Type
8. Products: Exports And Growth, By Type
9. Products: Export Prices And Growth, By Type
10. Production Volume And Growth
11. Exports And Growth
12. Export Prices And Growth
13. Market Size And Growth
14. Per Capita Consumption
15. Imports And Growth
16. Import Prices
17. Production, In Physical Terms, 2012–2023
18. Production, In Value Terms, 2012–2023
19. Production, By Country, 2023
20. Production, In Physical Terms, By Country, 2012–2023
21. Imports, In Physical Terms, 2012–2023
22. Imports, In Value Terms, 2012–2023
23. Imports, In Physical Terms, By Country, 2023
24. Imports, In Physical Terms, By Country, 2012–2023
25. Imports, In Value Terms, By Country, 2012–2023
26. Import Prices, By Country, 2012–2023
27. Exports, In Physical Terms, 2012–2023
28. Exports, In Value Terms, 2012–2023
29. Exports, In Physical Terms, By Country, 2023
30. Exports, In Physical Terms, By Country, 2012–2023
31. Exports, In Value Terms, By Country, 2012–2023
32. Export Prices, 2012–2023