Western Africa: Market for Turbo, Rotary and Reciporating Displacement Compressors 2024

Market Size for Turbo, Rotary and Reciporating Displacement Compressors in Western Africa

The West African market for turbo, rotary and reciporating displacement compressors soared to $X in 2022, rising by 24% against the previous year. Over the period under review, consumption enjoyed a strong increase. The level of consumption peaked at $X in 2020; however, from 2021 to 2022, consumption failed to regain momentum.

Production of Turbo, Rotary and Reciporating Displacement Compressors in Western Africa

In value terms, production of turbo, rotary and reciporating displacement compressors amounted to $X in 2022 estimated in export price. In general, production recorded a resilient increase. The pace of growth was the most pronounced in 2017 when the production volume increased by 51%. Over the period under review, production of attained the peak level at $X in 2020; however, from 2021 to 2022, production stood at a somewhat lower figure.

Exports of Turbo, Rotary and Reciporating Displacement Compressors

Exports in Western Africa

In 2022, overseas shipments of turbo, rotary and reciporating displacement compressors increased by 8.6% to X units for the first time since 2019, thus ending a two-year declining trend. Overall, exports, however, recorded a deep downturn. The pace of growth was the most pronounced in 2016 when exports increased by 103% against the previous year. The volume of export peaked at X units in 2013; however, from 2014 to 2022, the exports failed to regain momentum.

In value terms, exports of turbo, rotary and reciporating displacement compressors totaled $X in 2022. Over the period under review, exports, however, saw a perceptible descent. The pace of growth was the most pronounced in 2018 with an increase of 47%. The level of export peaked at $X in 2019; however, from 2020 to 2022, the exports failed to regain momentum.

Exports by Country

In 2022, Ghana (X units) was the main exporter of turbo, rotary and reciporating displacement compressors, creating 35% of total exports. Cote d'Ivoire (X units) took a 17% share (based on physical terms) of total exports, which put it in second place, followed by Senegal (13%), Nigeria (8.1%), Sierra Leone (8%), Benin (6.2%) and Togo (5.3%).

From 2012 to 2022, average annual rates of growth with regard to turbo, rotary and reciporating displacement compressor exports from Ghana stood at -10.2%. At the same time, Benin (+28.9%), Senegal (+20.9%), Sierra Leone (+16.8%) and Togo (+9.9%) displayed positive paces of growth. Moreover, Benin emerged as the fastest-growing exporter exported in Western Africa, with a CAGR of +28.9% from 2012-2022. By contrast, Cote d'Ivoire (-10.7%) and Nigeria (-11.0%) illustrated a downward trend over the same period. While the share of Senegal (+12 p.p.), Sierra Leone (+7.1 p.p.), Benin (+6 p.p.) and Togo (+4.3 p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Nigeria (-5.3 p.p.), Cote d'Ivoire (-10.2 p.p.) and Ghana (-17.7 p.p.) displayed negative dynamics.

In value terms, the largest turbo, rotary and reciporating displacement compressor supplying countries in Western Africa were Nigeria ($X), Senegal ($X) and Ghana ($X), with a combined 63% share of total exports. Cote d'Ivoire, Sierra Leone, Togo and Benin lagged somewhat behind, together accounting for a further 21%.

Sierra Leone, with a CAGR of +20.2%, saw 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 more modest paces of growth.

Export Prices by Country

The export price in Western Africa stood at $X per unit in 2022, reducing by -5.3% against the previous year. Overall, the export price, however, recorded a temperate increase. The growth pace was the most rapid in 2015 when the export price increased by 195%. As a result, the export price reached the peak level of $X per unit. From 2016 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Nigeria ($X per unit), while Benin ($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 (+6.9%), while the other leaders experienced more modest paces of growth.

Imports of Turbo, Rotary and Reciporating Displacement Compressors

Imports in Western Africa

In 2022, the amount of turbo, rotary and reciporating displacement compressors imported in Western Africa surged to X units, jumping by 22% on 2021 figures. In general, imports recorded a remarkable increase. The pace of growth appeared the most rapid in 2019 with an increase of 147%. The volume of import peaked at X units in 2020; however, from 2021 to 2022, imports remained at a lower figure.

In value terms, imports of turbo, rotary and reciporating displacement compressors skyrocketed to $X in 2022. Over the period under review, imports saw a buoyant expansion. The most prominent rate of growth was recorded in 2014 with an increase of 75%. Over the period under review, imports of hit record highs at $X in 2020; however, from 2021 to 2022, imports stood at a somewhat lower figure.

Imports by Country

Nigeria (X units) and Ghana (X units) dominates compressors structure, together creating 71% of total imports. It was distantly followed by Mauritania (X units), Burkina Faso (X units) and Senegal (X units), together creating a 15% share of total imports. Cote d'Ivoire (X units) and Saint Helena, Ascension and Tristan da Cunha (X units) took a little 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 Saint Helena, Ascension and Tristan da Cunha (with a CAGR of +40.7%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Nigeria ($X) constitutes the largest market for imported turbo, rotary and reciporating displacement compressors in Western Africa, comprising 42% of total imports. The second position in the ranking was taken by Ghana ($X), with a 12% share of total imports. It was followed by Cote d'Ivoire, with a 7.8% share.

From 2012 to 2022, the average annual rate of growth in terms of value in Nigeria totaled +8.9%. In the other countries, the average annual rates were as follows: Ghana (+5.0% per year) and Cote d'Ivoire (+9.5% per year).

Import Prices by Country

In 2022, the import price in Western Africa amounted to $X per unit, stabilizing at the previous year. In general, the import price continues to indicate a deep setback. The pace of growth was the most pronounced in 2016 when the import price increased by 88%. Over the period under review, import prices hit record highs at $X per unit in 2013; however, from 2014 to 2022, import prices failed to regain momentum.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Saint Helena, Ascension and Tristan da Cunha (+2.1%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :