Western Africa: Air Conditioning Machine Market 2024

Air Conditioning Machine Exports

Exports in Western Africa

In 2021, exports of air conditioning machines in Western Africa soared to X units, with an increase of 60% compared with the year before. Over the period under review, exports recorded a remarkable increase. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, air conditioning machine exports skyrocketed to $X in 2021. Total exports indicated a prominent increase from 2012 to 2021: its value increased at an average annual rate of +8.2% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +124.5% against 2018 indices. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

The shipments of the three major exporters of air conditioning machines, namely Cote d'Ivoire, Senegal and Sierra Leone, represented more than two-thirds of total export. The following exporters - Togo (X units) and Mali (X units) - each resulted at a 4% share of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main exporting countries, was attained by Sierra Leone (with a CAGR of +91.5%), while the other leaders experienced more modest paces of growth.

In value terms, Senegal ($X), Sierra Leone ($X) and Cote d'Ivoire ($X) constituted the countries with the highest levels of exports in 2021, with a combined 86% share of total exports.

In terms of the main exporting countries, Sierra Leone, with a CAGR of +40.0%, saw the highest rates of growth with regard to the value of exports, 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 2021, increasing by 2.1% against the previous year. Over the period under review, the export price, however, saw a perceptible contraction. The pace of growth was the most pronounced in 2019 when the export price increased by 14% against the previous year. Over the period under review, the export prices reached the peak figure at $X per unit in 2014; however, from 2015 to 2021, the export prices remained at a lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Senegal (+1.5%), while the other leaders experienced a decline in the export price figures.

Air Conditioning Machine Imports

Imports in Western Africa

In 2021, after three years of growth, there was decline in supplies from abroad of air conditioning machines, when their volume decreased by -4.3% to X units. Overall, imports, however, enjoyed resilient growth. The growth pace was the most rapid in 2019 with an increase of 84%. The volume of import peaked at X units in 2020, and then contracted slightly in the following year.

In value terms, air conditioning machine imports fell to $X in 2021. In general, imports, however, recorded a buoyant expansion. The pace of growth appeared the most rapid in 2019 with an increase of 57%. Over the period under review, imports hit record highs at $X in 2020, and then contracted in the following year.

Imports by Country

In 2021, Nigeria (X units) represented the largest importer of air conditioning machines, achieving 42% of total imports. It was distantly followed by Cote d'Ivoire (X units), Ghana (X units), Senegal (X units) and Guinea (X units), together making up a 46% share of total imports. Mali (X units) and Togo (X units) followed a long way behind the leaders.

Imports into Nigeria increased at an average annual rate of +4.0% from 2012 to 2021. At the same time, Senegal (+16.9%), Mali (+14.6%), Guinea (+14.0%), Cote d'Ivoire (+10.9%), Ghana (+9.1%) and Togo (+6.7%) displayed positive paces of growth. Moreover, Senegal emerged as the fastest-growing importer imported in Western Africa, with a CAGR of +16.9% from 2012-2021. Cote d'Ivoire (+4.8 p.p.), Senegal (+4.2 p.p.), Ghana (+2.8 p.p.) and Guinea (+2.7 p.p.) significantly strengthened its position in terms of the total imports, while Nigeria saw its share reduced by -11.2% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Nigeria ($X) constitutes the largest market for imported air conditioning machines in Western Africa, comprising 53% of total imports. The second position in the ranking was taken by Ghana ($X), with a 13% share of total imports. It was followed by Cote d'Ivoire, with a 12% share.

In Nigeria, air conditioning machine imports increased at an average annual rate of +5.0% over the period from 2012-2021. In the other countries, the average annual rates were as follows: Ghana (+4.4% per year) and Cote d'Ivoire (+7.4% per year).

Import Prices by Country

The import price in Western Africa stood at $X per unit in 2021, reducing by -5.2% against the previous year. In general, the import price recorded a slight curtailment. The most prominent rate of growth was recorded in 2016 an increase of 10% against the previous year. Over the period under review, import prices hit record highs at $X per unit in 2018; however, from 2019 to 2021, import prices remained at a lower figure.

Prices varied noticeably country of destination: the country with the highest price was Nigeria ($X per unit), while Guinea ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Togo (+9.1%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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