Ghana: Air Conditioning Machine Market 2024

Air Conditioning Machine Market Size in Ghana

In 2021, the Ghanian air conditioning machine market increased by 12% to $X, rising for the third consecutive year after two years of decline. In general, the total consumption indicated prominent growth from 2012 to 2021: its value increased at an average annual rate of +6.3% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +109.3% against 2018 indices. Air conditioning machine consumption peaked in 2021 and is expected to retain growth in the near future.

Air Conditioning Machine Exports

Exports from Ghana

Air conditioning machine exports from Ghana surged to X units in 2021, increasing by 88% compared with 2020. In general, exports continue to indicate buoyant growth. The pace of growth appeared the most rapid in 2013 with an increase of 286% against the previous year. The exports peaked at X units in 2018; however, from 2019 to 2021, the exports failed to regain momentum.

In value terms, air conditioning machine exports skyrocketed to $X in 2021. Over the period under review, exports recorded a prominent increase. The most prominent rate of growth was recorded in 2013 with an increase of 217% against the previous year. As a result, the exports reached the peak of $X. From 2014 to 2021, the growth of the exports remained at a lower figure.

Exports by Country

Togo (X units) was the main destination for air conditioning machine exports from Ghana, accounting for a 71% share of total exports. Moreover, air conditioning machine exports to Togo exceeded the volume sent to the second major destination, Burkina Faso (X units), sevenfold. The third position in this ranking was held by Benin (X units), with a 5.5% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Togo stood at +25.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Burkina Faso (-0.5% per year) and Benin (+30.5% per year).

In value terms, Togo ($X) remains the key foreign market for air conditioning machine exports from Ghana, comprising 69% of total exports. The second position in the ranking was taken by Burkina Faso ($X), with a 12% share of total exports. It was followed by Benin, with a 5.6% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Togo totaled +26.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Burkina Faso (+1.4% per year) and Benin (+28.9% per year).

Export Prices by Country

In 2021, the average air conditioning machine export price amounted to $X per unit, increasing by 3% against the previous year. Overall, the export price, however, saw a perceptible decrease. The pace of growth was the most pronounced in 2017 an increase of 94% against the previous year. Over the period under review, the average export prices attained the peak figure at $X per unit in 2012; however, from 2013 to 2021, the export prices stood at a somewhat lower figure.

Prices varied noticeably country of destination: the country with the highest price was Angola ($X per unit), while the average price for exports to Mozambique ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Angola (+19.8%), while the prices for the other major destinations experienced more modest paces of growth.

Air Conditioning Machine Imports

Imports into Ghana

In 2021, overseas purchases of air conditioning machines increased by 11% to X units, rising for the third year in a row after two years of decline. Over the period under review, imports saw a remarkable increase. The growth pace was the most rapid in 2019 with an increase of 121%. Imports peaked in 2021 and are expected to retain growth in years to come.

In value terms, air conditioning machine imports rose sharply to $X in 2021. In general, total imports indicated pronounced growth from 2012 to 2021: its value increased at an average annual rate of +4.4% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +72.8% against 2018 indices. The pace of growth was the most pronounced in 2013 with an increase of 27% against the previous year. Over the period under review, imports hit record highs in 2021 and are expected to retain growth in the immediate term.

Imports by Country

In 2021, China (X units) constituted the largest air conditioning machine supplier to Ghana, accounting for a 90% share of total imports. It was followed by India (X units), with a 2.7% share of total imports. The United Arab Emirates (X units) ranked third in terms of total imports with a 2.2% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from China stood at +14.3%. The remaining supplying countries recorded the following average annual rates of imports growth: India (+10.6% per year) and the United Arab Emirates (+5.2% per year).

In value terms, China ($X) constituted the largest supplier of air conditioning machine to Ghana, comprising 83% of total imports. The second position in the ranking was taken by India ($X), with a 2.9% share of total imports. It was followed by the United Arab Emirates, with a 2.7% share.

From 2012 to 2021, the average annual rate of growth in terms of value from China totaled +8.7%. The remaining supplying countries recorded the following average annual rates of imports growth: India (+13.2% per year) and the United Arab Emirates (+1.5% per year).

Import Prices by Country

In 2021, the average air conditioning machine import price amounted to $X per unit, approximately equating the previous year. Overall, the import price, however, continues to indicate a perceptible decrease. The most prominent rate of growth was recorded in 2017 an increase of 28% against the previous year. Over the period under review, average import prices attained the maximum at $X per unit in 2018; however, from 2019 to 2021, import prices remained at a lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by India (+2.3%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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