ECOWAS: Swivel Seat Market 2024

Swivel Seat Market Size in ECOWAS

The ECOWAS swivel seat market rose markedly to $X in 2022, increasing by 6.2% against the previous year. In general, consumption showed prominent growth. The level of consumption peaked at $X in 2015; however, from 2016 to 2022, consumption stood at a somewhat lower figure.

Swivel Seat Production in ECOWAS

In value terms, swivel seat production expanded sharply to $X in 2022 estimated in export price. Over the period under review, production continues to indicate a strong expansion. The most prominent rate of growth was recorded in 2013 when the production volume increased by 146%. The level of production peaked at $X in 2015; however, from 2016 to 2022, production stood at a somewhat lower figure.

Swivel Seat Exports

Exports in ECOWAS

In 2022, overseas shipments of swivel seats with variable height adjustments decreased by -71.7% to X units for the first time since 2019, thus ending a two-year rising trend. Over the period under review, exports showed a deep setback. The growth pace was the most rapid in 2015 when exports increased by 333%. Over the period under review, the exports reached the peak figure at X units in 2017; however, from 2018 to 2022, the exports remained at a lower figure.

In value terms, swivel seat exports declined significantly to $X in 2022. In general, exports saw a abrupt shrinkage. The pace of growth appeared the most rapid in 2015 with an increase of 584% against the previous year. Over the period under review, the exports attained the maximum at $X in 2016; however, from 2017 to 2022, the exports failed to regain momentum.

Exports by Country

In 2022, Nigeria (X units), distantly followed by Senegal (X units), Ghana (X units) and Cote d'Ivoire (X units) were the major exporters of swivel seats with variable height adjustments, together committing 100% of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the leading exporting countries, was attained by Ghana (with a CAGR of +6.4%), while the other leaders experienced a decline in the exports figures.

In value terms, Senegal ($X) remains the largest swivel seat supplier in ECOWAS, comprising 45% of total exports. The second position in the ranking was taken by Nigeria ($X), with a 20% share of total exports. It was followed by Ghana, with a 16% share.

From 2012 to 2022, the average annual rate of growth in terms of value in Senegal amounted to -2.8%. The remaining exporting countries recorded the following average annual rates of exports growth: Nigeria (-15.7% per year) and Ghana (+15.3% per year).

Export Prices by Country

The export price in ECOWAS stood at $X per unit in 2022, jumping by 68% against the previous year. In general, the export price, however, continues to indicate a perceptible slump. The pace of growth was the most pronounced in 2016 an increase of 85%. Over the period under review, the export prices attained the peak figure at $X per unit in 2013; however, from 2014 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Senegal ($X per unit), while Nigeria ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Ghana (+8.3%), while the other leaders experienced more modest paces of growth.

Swivel Seat Imports

Imports in ECOWAS

Swivel seat imports shrank remarkably to X units in 2022, waning by -17.3% against the year before. In general, imports, however, enjoyed a noticeable expansion. The pace of growth was the most pronounced in 2014 with an increase of 92%. As a result, imports reached the peak of X units. From 2015 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, swivel seat imports fell to $X in 2022. Over the period under review, imports, however, enjoyed a strong expansion. The pace of growth appeared the most rapid in 2014 with an increase of 49%. The level of import peaked at $X in 2021, and then fell in the following year.

Imports by Country

In 2022, Ghana (X units), distantly followed by Cote d'Ivoire (X units), Senegal (X units) and Liberia (X units) were the main importers of swivel seats with variable height adjustments, together generating 80% of total imports. Guinea (X units), Nigeria (X units), Benin (X units) and Cabo Verde (X units) took a relatively small share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by Nigeria (with a CAGR of +17.9%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest swivel seat importing markets in ECOWAS were Ghana ($X), Cote d'Ivoire ($X) and Senegal ($X), with a combined 72% share of total imports. Guinea, Benin, Nigeria, Liberia and Cabo Verde lagged somewhat behind, together comprising a further 18%.

Nigeria, with a CAGR of +56.6%, saw the highest growth rate of the value of imports, among 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, growing by 3.1% against the previous year. Import price indicated a moderate increase from 2012 to 2022: its price increased at an average annual rate of +3.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, swivel seat import price increased by +27.3% against 2019 indices. The most prominent rate of growth was recorded in 2015 when the import price increased by 35%. Over the period under review, import prices reached the maximum at $X per unit in 2017; however, from 2018 to 2022, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Cabo Verde ($X per unit), while Liberia ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Nigeria (+32.9%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform