Western Africa: Concrete Pump Market 2024

Concrete Pump Market Size in Western Africa

In 2021, the West African concrete pump market increased by 25% to $X for the first time since 2017, thus ending a three-year declining trend. In general, consumption, however, recorded a relatively flat trend pattern. As a result, consumption reached the peak level of $X. From 2015 to 2021, the growth of the market remained at a lower figure.

Concrete Pump Production in Western Africa

In value terms, concrete pump production contracted to $X in 2021 estimated in export price. In general, production recorded a deep contraction. The most prominent rate of growth was recorded in 2016 when the production volume increased by 125%. Over the period under review, production reached the peak level at $X in 2012; however, from 2013 to 2021, production remained at a lower figure.

Concrete Pump Exports

Exports in Western Africa

In 2021, exports of concrete pumps in Western Africa expanded significantly to X units, picking up by 9.1% against the previous year's figure. Overall, exports, however, continue to indicate a abrupt slump. The most prominent rate of growth was recorded in 2015 when exports increased by 108%. The volume of export peaked at X units in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

In value terms, concrete pump exports shrank remarkably to $X in 2021. Total exports indicated a perceptible increase from 2012 to 2021: its value increased at an average annual rate of +3.9% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports decreased by -46.4% against 2019 indices. The pace of growth was the most pronounced in 2019 when exports increased by 73%. As a result, the exports attained the peak of $X. From 2020 to 2021, the growth of the exports remained at a lower figure.

Exports by Country

In 2021, Burkina Faso (X units) represented the major exporter of concrete pumps, making up 42% of total exports. Nigeria (X units) held a 25% share (based on physical terms) of total exports, which put it in second place, followed by Cote d'Ivoire (8.3%), Senegal (8.3%) and Togo (8.3%). The following exporters - Cabo Verde (X units) and Niger (X units) - each accounted for an 8.3% share of total exports.

From 2012 to 2021, the biggest increases were recorded for Burkina Faso (with a CAGR of +29.2%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest concrete pump supplying countries in Western Africa were Burkina Faso ($X), Cabo Verde ($X) and Nigeria ($X), together comprising 42% of total exports. Cote d'Ivoire, Niger, Senegal and Togo lagged somewhat behind, together comprising a further 26%.

Niger, with a CAGR of +162.4%, recorded the highest growth rate of the value of exports, in terms of the main exporting countries 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, shrinking by -31.8% against the previous year. In general, the export price, however, recorded a significant increase. The pace of growth was the most pronounced in 2014 when the export price increased by 555%. As a result, the export price reached the peak level of $X per unit. From 2015 to 2021, the export prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Cabo Verde ($X per unit), while Togo ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Burkina Faso (+18.8%), while the other leaders experienced mixed trends in the export price figures.

Concrete Pump Imports

Imports in Western Africa

In 2021, the amount of concrete pumps imported in Western Africa declined to X units, with a decrease of -9.9% compared with 2020. Over the period under review, imports, however, showed a moderate increase. The growth pace was the most rapid in 2017 with an increase of 180% against the previous year. As a result, imports attained the peak of X units. From 2018 to 2021, the growth of imports remained at a lower figure.

In value terms, concrete pump imports skyrocketed to $X in 2021. Overall, imports, however, recorded a moderate expansion. The pace of growth appeared the most rapid in 2014 when imports increased by 102% against the previous year. As a result, imports reached the peak of $X. From 2015 to 2021, the growth of imports remained at a lower figure.

Imports by Country

Ghana represented the main importing country with an import of around X units, which accounted for 36% of total imports. Senegal (X units) ranks second in terms of the total imports with a 12% share, followed by Burkina Faso (9.1%), Nigeria (9.1%), Liberia (7.8%) and Benin (6.6%). Mali (X units) held a little share of total imports.

From 2012 to 2021, average annual rates of growth with regard to concrete pump imports into Ghana stood at +10.3%. At the same time, Senegal (+38.3%), Benin (+27.5%), Liberia (+13.5%) and Burkina Faso (+6.1%) displayed positive paces of growth. Moreover, Senegal emerged as the fastest-growing importer imported in Western Africa, with a CAGR of +38.3% from 2012-2021. By contrast, Nigeria (-4.5%) and Mali (-7.0%) illustrated a downward trend over the same period. From 2012 to 2021, the share of Ghana, Senegal, Benin, Liberia and Burkina Faso increased by +15, +11, +6.6, +4.4 and +1.7 percentage points, respectively.

In value terms, Nigeria ($X) constitutes the largest market for imported concrete pumps in Western Africa, comprising 37% of total imports. The second position in the ranking was taken by Ghana ($X), with a 14% share of total imports. It was followed by Senegal, with a 13% share.

From 2012 to 2021, the average annual rate of growth in terms of value in Nigeria was relatively modest. The remaining importing countries recorded the following average annual rates of imports growth: Ghana (+6.5% per year) and Senegal (+71.9% per year).

Import Prices by Country

The import price in Western Africa stood at $X per unit in 2021, growing by 52% against the previous year. Over the period under review, the import price, however, continues to indicate a slight descent. The pace of growth appeared the most rapid in 2018 when the import price increased by 257%. The level of import peaked at $X per unit in 2014; however, from 2015 to 2021, import prices failed to regain momentum.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Senegal (+27.2%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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