ECOWAS: Threshing Machinery Market 2024

Threshing Machinery Market Size in ECOWAS

The ECOWAS threshing machinery market rose modestly to $X in 2022, growing by 2.8% against the previous year. In general, consumption, however, saw a relatively flat trend pattern. Over the period under review, the market reached the maximum level at $X in 2017; however, from 2018 to 2022, consumption failed to regain momentum.

Threshing Machinery Production in ECOWAS

In value terms, threshing machinery production reached $X in 2022 estimated in export price. In general, production, however, showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2020 with an increase of 15% against the previous year. Over the period under review, production attained the peak level at $X in 2017; however, from 2018 to 2022, production failed to regain momentum.

Threshing Machinery Exports

Exports in ECOWAS

In 2022, overseas shipments of threshing machinery except combine harvester-threshers decreased by -50% to X units for the first time since 2018, thus ending a three-year rising trend. Over the period under review, exports continue to indicate a deep reduction. The most prominent rate of growth was recorded in 2013 when exports increased by 87% against the previous year. The volume of export peaked at X units in 2014; however, from 2015 to 2022, the exports remained at a lower figure.

In value terms, threshing machinery exports dropped remarkably to $X in 2022. In general, exports showed a pronounced setback. The growth pace was the most rapid in 2013 when exports increased by 60% against the previous year. Over the period under review, the exports reached the peak figure at $X in 2014; however, from 2015 to 2022, the exports failed to regain momentum.

Exports by Country

Senegal represented the largest exporting country with an export of around X units, which finished at 89% of total exports. It was distantly followed by Mali (X units), mixing up an 11% share of total exports.

Senegal was also the fastest-growing in terms of the threshing machinery except combine harvester-threshers exports, with a CAGR of +7.2% from 2012 to 2022. Mali (-17.7%) illustrated a downward trend over the same period. While the share of Senegal (+62 p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Mali (-35.6 p.p.) displayed negative dynamics.

In value terms, Senegal ($X) remains the largest threshing machinery supplier in ECOWAS, comprising 95% of total exports. The second position in the ranking was taken by Mali ($X), with a 4.3% share of total exports.

In Senegal, threshing machinery exports expanded at an average annual rate of +7.6% over the period from 2012-2022.

Export Prices by Country

In 2022, the export price in ECOWAS amounted to $X per unit, growing by 39% against the previous year. Over the period under review, the export price continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2016 an increase of 89%. Over the period under review, the export prices attained the peak figure at $X per unit in 2018; however, from 2019 to 2022, the export prices stood at a somewhat 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 Mali stood at $X per unit.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Senegal (+0.8%).

Threshing Machinery Imports

Imports in ECOWAS

In 2022, imports of threshing machinery except combine harvester-threshers in ECOWAS dropped notably to X units, declining by -24.6% on 2021 figures. Over the period under review, imports, however, enjoyed strong growth. The pace of growth was the most pronounced in 2016 when imports increased by 63%. The volume of import peaked at X units in 2018; however, from 2019 to 2022, imports failed to regain momentum.

In value terms, threshing machinery imports fell sharply to $X in 2022. Overall, imports, however, saw prominent growth. The pace of growth appeared the most rapid in 2013 with an increase of 108% against the previous year. The level of import peaked at $X in 2018; however, from 2019 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, Ghana (X units), distantly followed by Senegal (X units), Cote d'Ivoire (X units), Nigeria (X units) and Guinea (X units) represented the key importers of threshing machinery except combine harvester-threshers, together comprising 85% of total imports. The following importers - Burkina Faso (X units) and Benin (X units) - each resulted at a 5.9% share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by Benin (with a CAGR of +44.8%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Ghana ($X) constitutes the largest market for imported threshing machinery except combine harvester-threshers in ECOWAS, comprising 48% of total imports. The second position in the ranking was taken by Senegal ($X), with a 15% share of total imports. It was followed by Nigeria, with a 12% share.

In Ghana, threshing machinery imports expanded at an average annual rate of +10.6% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Senegal (+22.5% per year) and Nigeria (+13.7% per year).

Import Prices by Country

In 2022, the import price in ECOWAS amounted to $X per unit, picking up by 2.3% against the previous year. Over the period under review, the import price, however, saw a mild shrinkage. The pace of growth was the most pronounced in 2013 when the import price increased by 43%. Over the period under review, import prices reached the peak figure at $X per unit in 2014; however, from 2015 to 2022, import prices stood at a somewhat 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 Nigeria ($X per unit), while Burkina Faso ($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 (+14.3%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform