Western Africa: Construction Equipment Blade Market 2024

Construction Equipment Blade Market Size in Western Africa

The West African construction equipment blade market soared to $X in 2022, rising by 46% against the previous year. In general, consumption posted buoyant growth. Over the period under review, the market attained the peak level in 2022 and is likely to continue growth in the immediate term.

Construction Equipment Blade Production in Western Africa

In value terms, construction equipment blade production expanded modestly to $X in 2022 estimated in export price. Over the period under review, production continues to indicate a resilient expansion. The most prominent rate of growth was recorded in 2013 with an increase of 73% against the previous year. The level of production peaked at $X in 2020; however, from 2021 to 2022, production stood at a somewhat lower figure.

Construction Equipment Blade Exports

Exports in Western Africa

In 2022, the amount of blades for construction equipment exported in Western Africa contracted notably to X units, with a decrease of -34.9% on the previous year. Overall, exports faced a abrupt shrinkage. The pace of growth appeared the most rapid in 2016 when exports increased by 193%. Over the period under review, the exports hit record highs at X units in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

In value terms, construction equipment blade exports reduced notably to $X in 2022. Over the period under review, exports showed a precipitous shrinkage. The most prominent rate of growth was recorded in 2016 with an increase of 125%. The level of export peaked at $X in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

Exports by Country

Burkina Faso (X units) and Togo (X units) represented the major exporters of blades for construction equipment in 2022, amounting to near 41% and 34% of total exports, respectively. Senegal (X units) held the next position in the ranking, distantly followed by Cote d'Ivoire (X units). All these countries together held approx. 23% share of total exports. Ghana (X units) took a little share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the key exporting countries, was attained by Cote d'Ivoire (with a CAGR of +8.2%), while the other leaders experienced more modest paces of growth.

In value terms, the largest construction equipment blade supplying countries in Western Africa were Togo ($X), Burkina Faso ($X) and Senegal ($X), together accounting for 78% of total exports. Cote d'Ivoire and Ghana lagged somewhat behind, together accounting for a further 22%.

In terms of the main exporting countries, Cote d'Ivoire, with a CAGR of +18.8%, recorded the highest growth rate of the value of exports, 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 13% against the previous year. In general, the export price, however, saw a abrupt shrinkage. The pace of growth was the most pronounced in 2015 an increase of 53% against the previous year. The level of export peaked at $X per unit in 2018; however, from 2019 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 Cote d'Ivoire ($X per unit), while Burkina Faso ($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 (+11.7%), while the other leaders experienced mixed trends in the export price figures.

Construction Equipment Blade Imports

Imports in Western Africa

In 2022, approx. X units of blades for construction equipment were imported in Western Africa; rising by 131% against the previous year's figure. In general, imports enjoyed a remarkable increase. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, construction equipment blade imports soared to $X in 2022. Over the period under review, imports posted a resilient increase. The pace of growth appeared the most rapid in 2014 when imports increased by 130%. Over the period under review, imports hit record highs at $X in 2016; however, from 2017 to 2022, imports stood at a somewhat lower figure.

Imports by Country

Nigeria was the largest importing country with an import of around X units, which resulted at 73% of total imports. It was distantly followed by Ghana (X units), committing a 10% share of total imports. Guinea (X units), Burkina Faso (X units), Togo (X units), Cote d'Ivoire (X units) and Senegal (X units) followed a long way behind the leaders.

Nigeria was also the fastest-growing in terms of the blades for construction equipment imports, with a CAGR of +42.0% from 2012 to 2022. At the same time, Togo (+32.2%), Cote d'Ivoire (+19.3%), Senegal (+13.2%) and Guinea (+11.7%) displayed positive paces of growth. Burkina Faso experienced a relatively flat trend pattern. By contrast, Ghana (-6.4%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Nigeria and Togo increased by +67 and +2 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Nigeria ($X) constitutes the largest market for imported blades for construction equipment in Western Africa, comprising 61% of total imports. The second position in the ranking was held by Ghana ($X), with a 12% share of total imports. It was followed by Guinea, with a 6.5% share.

From 2012 to 2022, the average annual rate of growth in terms of value in Nigeria amounted to +37.4%. The remaining importing countries recorded the following average annual rates of imports growth: Ghana (-6.7% per year) and Guinea (+9.1% per year).

Import Prices by Country

In 2022, the import price in Western Africa amounted to $X per unit, shrinking by -30.2% against the previous year. In general, the import price saw a deep slump. The pace of growth was the most pronounced in 2021 when the import price increased by 24% against the previous year. The level of import peaked at $X per unit in 2015; however, from 2016 to 2022, import prices remained at a lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Cote d'Ivoire (-0.2%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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