Western Africa: Shaft Coupling Market 2024

Shaft Coupling Market Size in Western Africa

The West African shaft coupling market surged to $X in 2022, rising by 78% against the previous year. In general, consumption recorded buoyant growth. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Shaft Coupling Production in Western Africa

In value terms, shaft coupling production fell to $X in 2022 estimated in export price. Overall, production continues to indicate a pronounced decrease. The growth pace was the most rapid in 2017 with an increase of 52%. The level of production peaked at $X in 2013; however, from 2014 to 2022, production remained at a lower figure.

Shaft Coupling Exports

Exports in Western Africa

In 2022, approx. X tons of clutches and shaft couplings were exported in Western Africa; growing by 68% compared with the previous year. In general, exports saw a slight increase. The most prominent rate of growth was recorded in 2017 when exports increased by 88%. Over the period under review, the exports hit record highs at X tons in 2020; however, from 2021 to 2022, the exports failed to regain momentum.

In value terms, shaft coupling exports surged to $X in 2022. Over the period under review, exports posted notable growth. The most prominent rate of growth was recorded in 2020 when exports increased by 78% against the previous year. As a result, the exports attained the peak of $X. From 2021 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

Nigeria (X tons), Mali (X tons) and Guinea (X tons) represented roughly 67% of total exports in 2022. It was distantly followed by Ghana (X kg), Mauritania (X kg) and Senegal (X kg), together mixing up a 19% share of total exports. Niger (X kg) took a relatively small 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 Mali (with a CAGR of +58.2%), while the other leaders experienced more modest paces of growth.

In value terms, the largest shaft coupling supplying countries in Western Africa were Nigeria ($X), Guinea ($X) and Mali ($X), with a combined 64% share of total exports. Mauritania, Senegal, Ghana and Niger lagged somewhat behind, together comprising a further 21%.

In terms of the main exporting countries, Mauritania, with a CAGR of +61.9%, recorded the highest growth rate of 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

In 2022, the export price in Western Africa amounted to $X per ton, which is down by -6.1% against the previous year. Export price indicated a modest expansion from 2012 to 2022: its price increased at an average annual rate of +1.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, shaft coupling export price increased by +1.9% against 2020 indices. The pace of growth appeared the most rapid in 2014 an increase of 92% against the previous year. Over the period under review, the export prices reached the peak figure at $X per ton in 2021, and then contracted in the following year.

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 Guinea ($X per ton), while Niger ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Mauritania (+5.4%), while the other leaders experienced more modest paces of growth.

Shaft Coupling Imports

Imports in Western Africa

In 2022, supplies from abroad of clutches and shaft couplings increased by 256% to X tons, rising for the sixth consecutive year after three years of decline. Over the period under review, imports posted a significant expansion. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, shaft coupling imports skyrocketed to $X in 2022. In general, imports showed significant growth. The most prominent rate of growth was recorded in 2013 when imports increased by 119% against the previous year. The level of import peaked in 2022 and is likely to continue growth in the immediate term.

Imports by Country

Nigeria dominates imports structure, amounting to X tons, which was approx. 90% of total imports in 2022. Ghana (X tons) followed a long way behind the leaders.

Nigeria was also the fastest-growing in terms of the clutches and shaft couplings imports, with a CAGR of +42.8% from 2012 to 2022. At the same time, Ghana (+12.8%) displayed positive paces of growth. Nigeria (+54 p.p.) significantly strengthened its position in terms of the total imports, while Ghana saw its share reduced by -12.3% from 2012 to 2022, respectively.

In value terms, Nigeria ($X) constitutes the largest market for imported clutches and shaft couplings in Western Africa, comprising 78% of total imports. The second position in the ranking was taken by Ghana ($X), with a 4.2% share of total imports.

In Nigeria, shaft coupling imports expanded at an average annual rate of +33.5% over the period from 2012-2022.

Import Prices by Country

The import price in Western Africa stood at $X per ton in 2022, which is down by -39.9% against the previous year. In general, the import price showed a abrupt downturn. The pace of growth appeared the most rapid in 2014 when the import price increased by 32% against the previous year. The level of import peaked at $X per ton in 2015; however, from 2016 to 2022, import prices failed to regain momentum.

Average prices varied noticeably amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Ghana ($X per ton), while Nigeria totaled $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Nigeria (-6.5%).

Source: IndexBox Platform

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