ECOWAS: Laundry Machine Market 2024

Laundry Machine Market Size in ECOWAS

The ECOWAS laundry machine market fell rapidly to $X in 2021, with a decrease of -35.9% against the previous year. Overall, consumption, however, showed a perceptible increase. Over the period under review, the market reached the maximum level at $X in 2017; however, from 2018 to 2021, consumption stood at a somewhat lower figure.

Laundry Machine Production in ECOWAS

In value terms, laundry machine production fell modestly to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +2.4% over the period from 2012 to 2021; the trend pattern remained consistent, with only minor fluctuations being observed throughout the analyzed period. The most prominent rate of growth was recorded in 2020 with an increase of 11% against the previous year. Over the period under review, production hit record highs at $X in 2018; however, from 2019 to 2021, production remained at a lower figure.

Laundry Machine Exports

Exports in ECOWAS

In 2021, approx. X units of washing, bleaching or dyeing machines were exported in ECOWAS; picking up by 254% on 2020. In general, exports, however, saw a abrupt descent. Over the period under review, the exports hit record highs at X units in 2015; however, from 2016 to 2021, the exports stood at a somewhat lower figure.

In value terms, laundry machine exports skyrocketed to $X in 2021. Over the period under review, exports, however, recorded a deep reduction. Over the period under review, the exports reached the peak figure at $X in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

Exports by Country

In 2021, Senegal (X units) was the key exporter of washing, bleaching or dyeing machines, constituting 35% of total exports. Sierra Leone (X units) ranks second in terms of the total exports with a 20% share, followed by Ghana (15%), Cote d'Ivoire (12%), Nigeria (9.4%) and Mali (4.7%).

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the key exporting countries, was attained by Mali (with a CAGR of +100.0%), while the other leaders experienced more modest paces of growth.

In value terms, Senegal ($X) emerged as the largest laundry machine supplier in ECOWAS, comprising 45% of total exports. The second position in the ranking was held by Sierra Leone ($X), with a 22% share of total exports. It was followed by Cote d'Ivoire, with a 10% share.

In Senegal, laundry machine exports increased at an average annual rate of +56.2% over the period from 2012-2021. The remaining exporting countries recorded the following average annual rates of exports growth: Sierra Leone (+148.3% per year) and Cote d'Ivoire (+4.5% per year).

Export Prices by Country

The export price in ECOWAS stood at $X per unit in 2021, therefore, remained relatively stable against the previous year. Export price indicated tangible growth from 2012 to 2021: its price increased at an average annual rate of +3.0% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, laundry machine export price decreased by -2.4% against 2018 indices. The pace of growth appeared the most rapid in 2018 an increase of 63% against the previous year. As a result, the export price reached the peak level of $X per unit. From 2019 to 2021, the export prices failed to regain momentum.

There were significant differences in the average prices amongst the major exporting countries. In 2021, the country with the highest price was Senegal ($X per unit), while Mali ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Sierra Leone (+61.8%), while the other leaders experienced more modest paces of growth.

Laundry Machine Imports

Imports in ECOWAS

In 2021, approx. X units of washing, bleaching or dyeing machines were imported in ECOWAS; with a decrease of -49% on 2020. In general, imports, however, recorded a prominent increase. The most prominent rate of growth was recorded in 2020 when imports increased by 347% against the previous year. As a result, imports attained the peak of X units, and then dropped rapidly in the following year.

In value terms, laundry machine imports reduced remarkably to $X in 2021. Over the period under review, imports recorded a slight downturn. The most prominent rate of growth was recorded in 2014 when imports increased by 254% against the previous year. As a result, imports reached the peak of $X. From 2015 to 2021, the growth of imports remained at a lower figure.

Imports by Country

Senegal represented the key importer of washing, bleaching or dyeing machines in ECOWAS, with the volume of imports accounting for X units, which was approx. 70% of total imports in 2021. Ghana (X units) took an 11% share (based on physical terms) of total imports, which put it in second place, followed by Nigeria (8%) and Cote d'Ivoire (7.6%).

Senegal was also the fastest-growing in terms of the washing, bleaching or dyeing machines imports, with a CAGR of +51.1% from 2012 to 2021. Ghana experienced a relatively flat trend pattern. Cote d'Ivoire (-6.9%) and Nigeria (-7.5%) illustrated a downward trend over the same period. From 2012 to 2021, the share of Senegal increased by +66 percentage points.

In value terms, Senegal ($X), Cote d'Ivoire ($X) and Nigeria ($X) constituted the countries with the highest levels of imports in 2021, with a combined 65% share of total imports.

Senegal, with a CAGR of +28.2%, saw 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 mixed trends in the imports figures.

Import Prices by Country

In 2021, the import price in ECOWAS amounted to $X per unit, picking up by 46% against the previous year. Overall, the import price, however, showed a deep setback. Over the period under review, import prices attained the maximum at $X per unit in 2014; however, from 2015 to 2021, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2021, the country with the highest price was Cote d'Ivoire ($X per unit), while Senegal ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Cote d'Ivoire (+4.6%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform