ECOWAS: Wheeled Dozer Market 2024

Wheeled Dozer Market Size in ECOWAS

The ECOWAS wheeled dozer market was estimated at $X in 2022, standing approx. at the previous year. Overall, consumption enjoyed slight growth. The level of consumption peaked at $X in 2020; however, from 2021 to 2022, consumption remained at a lower figure.

Wheeled Dozer Production in ECOWAS

In value terms, wheeled dozer production reached $X in 2022 estimated in export price. The total output value increased at an average annual rate of +1.9% over the period from 2012 to 2022; the trend pattern remained consistent, with only minor fluctuations throughout the analyzed period. The most prominent rate of growth was recorded in 2017 with an increase of 3.1% against the previous year. Over the period under review, production hit record highs at $X in 2020; afterwards, it flattened through to 2022.

Wheeled Dozer Exports

Exports in ECOWAS

After two years of decline, overseas shipments of wheeled dozers increased by 29% to X units in 2022. In general, exports, however, saw a deep contraction. The pace of growth appeared the most rapid in 2016 with an increase of 111,346%. As a result, the exports attained the peak of X units. From 2017 to 2022, the growth of the exports remained at a lower figure.

In value terms, wheeled dozer exports surged to $X in 2022. Overall, exports, however, showed a deep slump. The pace of growth appeared the most rapid in 2017 with an increase of 89% against the previous year. Over the period under review, the exports attained the peak figure at $X in 2013; however, from 2014 to 2022, the exports failed to regain momentum.

Exports by Country

Niger (X units), Burkina Faso (X units), Mali (X units), Benin (X units), Cote d'Ivoire (X units) and Gambia (X units) represented roughly 84% of total exports in 2022. It was distantly followed by Senegal (X units), making up a 5.3% share of total exports. Ghana (X units) followed a long way behind the leaders.

From 2012 to 2022, the biggest increases were recorded for Burkina Faso (with a CAGR of +16.7%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Niger ($X), Burkina Faso ($X) and Mali ($X) were the countries with the highest levels of exports in 2022, together comprising 66% of total exports.

Burkina Faso, with a CAGR of +17.3%, recorded the highest growth rate of the value of exports, among 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 2022, the export price in ECOWAS amounted to $X per unit, rising by 15% against the previous year. Over the period under review, the export price, however, continues to indicate a mild downturn. The pace of growth was the most pronounced in 2017 when the export price increased by 68,650%. The level of export peaked at $X per unit in 2013; however, from 2014 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Ghana ($X per unit), while Cote d'Ivoire ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Benin (+5.6%), while the other leaders experienced more modest paces of growth.

Wheeled Dozer Imports

Imports in ECOWAS

Wheeled dozer imports soared to X units in 2022, jumping by 16% against the previous year. Overall, imports, however, saw a noticeable reduction. The most prominent rate of growth was recorded in 2019 when imports increased by 87%. The volume of import peaked at X units in 2013; however, from 2014 to 2022, imports stood at a somewhat lower figure.

In value terms, wheeled dozer imports skyrocketed to $X in 2022. In general, imports, however, recorded a perceptible downturn. The most prominent rate of growth was recorded in 2019 when imports increased by 106%. Over the period under review, imports attained the maximum at $X in 2014; however, from 2015 to 2022, imports failed to regain momentum.

Imports by Country

Nigeria represented the main importing country with an import of around X units, which finished at 38% of total imports. It was distantly followed by Ghana (X units), Burkina Faso (X units), Cote d'Ivoire (X units), Senegal (X units) and Guinea (X units), together achieving a 46% share of total imports. Mali (X units) followed a long way behind the leaders.

Imports into Nigeria decreased at an average annual rate of -5.1% from 2012 to 2022. At the same time, Burkina Faso (+15.3%), Cote d'Ivoire (+2.5%) and Senegal (+1.0%) displayed positive paces of growth. Moreover, Burkina Faso emerged as the fastest-growing importer imported in ECOWAS, with a CAGR of +15.3% from 2012-2022. By contrast, Guinea (-2.0%), Ghana (-3.1%) and Mali (-4.5%) illustrated a downward trend over the same period. Burkina Faso (+11 p.p.), Cote d'Ivoire (+3 p.p.) and Senegal (+1.6 p.p.) significantly strengthened its position in terms of the total imports, while Nigeria saw its share reduced by -11.9% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Nigeria ($X) constitutes the largest market for imported wheeled dozers in ECOWAS, comprising 51% of total imports. The second position in the ranking was taken by Ghana ($X), with a 12% share of total imports. It was followed by Burkina Faso, with a 9.1% share.

From 2012 to 2022, the average annual rate of growth in terms of value in Nigeria amounted to -5.9%. The remaining importing countries recorded the following average annual rates of imports growth: Ghana (-4.6% per year) and Burkina Faso (+13.6% per year).

Import Prices by Country

In 2022, the import price in ECOWAS amounted to $X per unit, with an increase of 3.9% against the previous year. Over the period under review, the import price, however, showed a mild decline. The pace of growth appeared the most rapid in 2021 an increase of 20% against the previous year. The level of import peaked at $X per unit in 2014; however, from 2015 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 Nigeria ($X per unit), while Mali ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Guinea (+5.3%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform