Western Africa: Market for Vacuum Pumps and Air or Gas Compressors 2024

Market Size for Vacuum Pumps and Air or Gas Compressors in Western Africa

After four years of growth, the West African market for vacuum pumps and air or gas compressors decreased by -6.4% to $X in 2022. In general, consumption, however, enjoyed a remarkable increase. The level of consumption peaked at $X in 2021, and then dropped in the following year.

Production of Vacuum Pumps and Air or Gas Compressors in Western Africa

In value terms, production of vacuum pumps and air or gas compressors stood at $X in 2022 estimated in export price. The total output value increased at an average annual rate of +1.1% from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2020 with an increase of 33% against the previous year. Over the period under review, production of reached the maximum level at $X in 2013; however, from 2014 to 2022, production failed to regain momentum.

Exports of Vacuum Pumps and Air or Gas Compressors

Exports in Western Africa

In 2022, after two years of decline, there was growth in shipments abroad of vacuum pumps and air or gas compressors, when their volume increased by 2.8% to X units. Overall, exports, however, recorded a deep contraction. The pace of growth was the most pronounced in 2014 when exports increased by 405%. The volume of export peaked at X units in 2019; however, from 2020 to 2022, the exports remained at a lower figure.

In value terms, exports of vacuum pumps and air or gas compressors expanded modestly to $X in 2022. Over the period under review, exports, however, recorded a pronounced curtailment. The pace of growth was the most pronounced in 2019 when exports increased by 77% against the previous year. As a result, the exports attained the peak of $X. From 2020 to 2022, the growth of the exports of remained at a lower figure.

Exports by Country

Ghana was the major exporter of vacuum pumps and air or gas compressors in Western Africa, with the volume of exports accounting for X units, which was approx. 36% of total exports in 2022. It was distantly followed by Sierra Leone (X units), Cote d'Ivoire (X units), Senegal (X units), Nigeria (X units) and Mali (X units), together committing a 54% share of total exports. The following exporters - Togo (X units) and Niger (X units) - together made up 5.3% of total exports.

From 2012 to 2022, average annual rates of growth with regard to vacuum pump and air or gas compressor exports from Ghana stood at +3.0%. At the same time, Niger (+7.4%) and Sierra Leone (+1.2%) displayed positive paces of growth. Moreover, Niger emerged as the fastest-growing exporter exported in Western Africa, with a CAGR of +7.4% from 2012-2022. Senegal and Cote d'Ivoire experienced a relatively flat trend pattern. By contrast, Togo (-8.0%), Nigeria (-14.4%) and Mali (-23.2%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Ghana, Sierra Leone, Cote d'Ivoire and Senegal increased by +22, +8.1, +7.2 and +5.5 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest vacuum pump and air or gas compressor supplying countries in Western Africa were Senegal ($X), Cote d'Ivoire ($X) and Ghana ($X), with a combined 49% share of total exports.

Senegal, with a CAGR of +12.3%, saw the highest rates of growth with regard to the value of exports, in terms of 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

The export price in Western Africa stood at $X per unit in 2022, picking up by 2.1% against the previous year. Overall, the export price showed a temperate expansion. The most prominent rate of growth was recorded in 2015 an increase of 408%. Over the period under review, the export prices attained the maximum in 2022 and is expected to retain growth in the near future.

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 Niger ($X per unit), while Sierra Leone ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Mali (+37.1%), while the other leaders experienced more modest paces of growth.

Imports of Vacuum Pumps and Air or Gas Compressors

Imports in Western Africa

In 2022, overseas purchases of vacuum pumps and air or gas compressors decreased by -11% to X units for the first time since 2016, thus ending a five-year rising trend. In general, imports, however, continue to indicate a prominent expansion. The pace of growth appeared the most rapid in 2020 when imports increased by 135%. Over the period under review, imports of hit record highs at X units in 2021, and then contracted in the following year.

In value terms, imports of vacuum pumps and air or gas compressors expanded slightly to $X in 2022. Total imports indicated a temperate expansion from 2012 to 2022: its value increased at an average annual rate of +2.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports decreased by -22.1% against 2020 indices. The pace of growth was the most pronounced in 2014 when imports increased by 70%. Over the period under review, imports of attained the maximum at $X in 2020; however, from 2021 to 2022, imports stood at a somewhat lower figure.

Imports by Country

Ghana was the key importing country with an import of around X units, which accounted for 71% of total imports. Nigeria (X units) held a 12% share (based on physical terms) of total imports, which put it in second place, followed by Cote d'Ivoire (5.3%). The following importers - Guinea (X units), Burkina Faso (X units), Mauritania (X units) and Senegal (X units) - together made up 8.3% of total imports.

Ghana was also the fastest-growing in terms of the vacuum pumps and air or gas compressors imports, with a CAGR of +34.7% from 2012 to 2022. At the same time, Mauritania (+25.2%), Cote d'Ivoire (+8.9%), Nigeria (+5.6%) and Burkina Faso (+1.3%) displayed positive paces of growth. By contrast, Guinea (-1.5%) and Senegal (-5.5%) illustrated a downward trend over the same period. Ghana (+57 p.p.) significantly strengthened its position in terms of the total imports, while Cote d'Ivoire, Burkina Faso, Senegal, Guinea and Nigeria saw its share reduced by -3.3%, -4.4%, -9.8%, -10.3% and -14.8% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Nigeria ($X) constitutes the largest market for imported vacuum pumps and air or gas compressors in Western Africa, comprising 43% of total imports. The second position in the ranking was taken by Ghana ($X), with a 14% share of total imports. It was followed by Cote d'Ivoire, with an 8.1% share.

From 2012 to 2022, the average annual rate of growth in terms of value in Nigeria was relatively modest. In the other countries, the average annual rates were as follows: Ghana (+3.0% per year) and Cote d'Ivoire (+5.9% per year).

Import Prices by Country

The import price in Western Africa stood at $X per unit in 2022, growing by 16% against the previous year. Over the period under review, the import price, however, recorded a deep slump. The pace of growth was the most pronounced in 2016 when the import price increased by 67% against the previous year. The level of import peaked at $X per unit in 2018; however, from 2019 to 2022, import prices stood at a somewhat 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 Senegal ($X per unit), while Ghana ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Senegal (+17.7%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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