Western Africa: Concrete Mixer Market 2024

Concrete Mixer Exports

Exports in Western Africa

For the fourth consecutive year, Western Africa recorded growth in overseas shipments of concrete or mortar mixers, which increased by 16% to X units in 2021. Overall, exports recorded a prominent increase. The pace of growth was the most pronounced in 2019 when exports increased by 49% against the previous year. Over the period under review, the exports reached the maximum in 2021 and are likely to see gradual growth in years to come.

In value terms, concrete mixer exports surged to $X in 2021. Over the period under review, exports posted a pronounced increase. The most prominent rate of growth was recorded in 2019 with an increase of 73% against the previous year. Over the period under review, the exports attained the peak figure in 2021 and are expected to retain growth in the immediate term.

Exports by Country

In 2021, Mali (X units), distantly followed by Cote d'Ivoire (X units), Burkina Faso (X units), Liberia (X units), Senegal (X units) and Benin (X units) represented the major exporters of concrete or mortar mixers, together creating 92% of total exports. Guinea (X units) followed a long way behind the leaders.

From 2012 to 2021, the biggest increases were recorded for Benin (with a CAGR of +37.6%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Mali ($X) remains the largest concrete mixer supplier in Western Africa, comprising 38% of total exports. The second position in the ranking was taken by Burkina Faso ($X), with a 16% share of total exports. It was followed by Cote d'Ivoire, with a 14% share.

In Mali, concrete mixer exports increased at an average annual rate of +3.7% over the period from 2012-2021. In the other countries, the average annual rates were as follows: Burkina Faso (-4.1% per year) and Cote d'Ivoire (+7.7% per year).

Export Prices by Country

In 2021, the export price in Western Africa amounted to $X per unit, rising by 11% against the previous year. Over the period under review, the export price, however, continues to indicate a pronounced setback. The most prominent rate of growth was recorded in 2014 an increase of 71% against the previous year. As a result, the export price reached the peak level of $X per unit. From 2015 to 2021, the export prices remained at a somewhat lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2021, the country with the highest price was Senegal ($X per unit), while Liberia ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Liberia (+11.6%), while the other leaders experienced mixed trends in the export price figures.

Concrete Mixer Imports

Imports in Western Africa

In 2021, supplies from abroad of concrete or mortar mixers decreased by -6.7% to X units for the first time since 2017, thus ending a three-year rising trend. Overall, imports, however, recorded a prominent increase. The pace of growth appeared the most rapid in 2016 when imports increased by 495%. As a result, imports reached the peak of X units. From 2017 to 2021, the growth of imports remained at a somewhat lower figure.

In value terms, concrete mixer imports contracted to $X in 2021. Over the period under review, imports, however, enjoyed a strong expansion. The most prominent rate of growth was recorded in 2016 with an increase of 546%. As a result, imports attained the peak of $X. From 2017 to 2021, the growth of imports remained at a somewhat lower figure.

Imports by Country

Nigeria dominates imports structure, recording X units, which was approx. 60% of total imports in 2021. Cote d'Ivoire (X units) took the second position in the ranking, followed by Ghana (X units), Guinea (X units) and Senegal (X units). All these countries together took near 30% share of total imports. The following importers - Mali (X units) and Burkina Faso (X units) - each recorded a 3.7% share of total imports.

From 2012 to 2021, average annual rates of growth with regard to concrete mixer imports into Nigeria stood at +17.3%. At the same time, Cote d'Ivoire (+19.9%), Senegal (+18.2%), Mali (+16.2%), Guinea (+14.9%) and Burkina Faso (+3.1%) displayed positive paces of growth. Moreover, Cote d'Ivoire emerged as the fastest-growing importer imported in Western Africa, with a CAGR of +19.9% from 2012-2021. By contrast, Ghana (-3.6%) illustrated a downward trend over the same period. Nigeria (+23 p.p.), Cote d'Ivoire (+4.7 p.p.), Senegal (+2.1 p.p.) and Guinea (+1.6 p.p.) significantly strengthened its position in terms of the total imports, while Burkina Faso and Ghana saw its share reduced by -1.6% and -22.8% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Nigeria ($X) constitutes the largest market for imported concrete or mortar mixers in Western Africa, comprising 45% of total imports. The second position in the ranking was held by Ghana ($X), with a 16% share of total imports. It was followed by Cote d'Ivoire, with a 13% share.

From 2012 to 2021, the average annual growth rate of value in Nigeria stood at +9.5%. The remaining importing countries recorded the following average annual rates of imports growth: Ghana (+4.5% per year) and Cote d'Ivoire (+19.5% per year).

Import Prices by Country

In 2021, the import price in Western Africa amounted to $X per unit, stabilizing at the previous year. Over the period under review, the import price continues to indicate a mild contraction. The pace of growth was the most pronounced in 2020 when the import price increased by 26% against the previous year. Over the period under review, import prices hit record highs at $X per unit in 2016; however, from 2017 to 2021, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major importing countries. In 2021, the country with the highest price was Mali ($X per unit), while Burkina Faso ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Mali (+14.0%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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