Western Africa: Ignition Coil Market 2024

Ignition Coil Market Size in Western Africa

In 2022, the West African ignition coil market increased by X% to $X, rising for the seventh year in a row after three years of decline. The total consumption indicated a moderate expansion from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by X% against 2015 indices. The level of consumption peaked in 2022 and is likely to see gradual growth in years to come.

Ignition Coil Production in Western Africa

In value terms, ignition coil production rose remarkably to $X in 2022 estimated in export price. Overall, production enjoyed a modest increase. The most prominent rate of growth was recorded in 2016 when the production volume increased by X% against the previous year. The level of production peaked at $X in 2020; however, from 2021 to 2022, production failed to regain momentum.

Ignition Coil Exports

Exports in Western Africa

Ignition coil exports skyrocketed to X units in 2022, rising by X% on the year before. In general, exports posted measured growth. The growth pace was the most rapid in 2016 with an increase of X% against the previous year. Over the period under review, the exports hit record highs at X units in 2017; however, from 2018 to 2022, the exports stood at a somewhat lower figure.

In value terms, ignition coil exports soared to $X in 2022. Over the period under review, exports saw a relatively flat trend pattern. The growth pace was the most rapid in 2016 when exports increased by X% against the previous year. Over the period under review, the exports reached the maximum at $X in 2017; however, from 2018 to 2022, the exports remained at a lower figure.

Exports by Country

Sierra Leone (X units) and Nigeria (X units) dominates exports structure, together generating X% of total exports. It was distantly followed by Senegal (X units), creating a X% share of total exports. Cote d'Ivoire (X units) followed a long way behind the leaders.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the key exporting countries, was attained by Sierra Leone (with a CAGR of X%), while the other leaders experienced more modest paces of growth.

In value terms, the largest ignition coil supplying countries in Western Africa were Sierra Leone ($X), Nigeria ($X) and Senegal ($X), with a combined X% share of total exports.

Sierra Leone, with a CAGR of X%, 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 mixed trends in the exports figures.

Export Prices by Country

In 2022, the export price in Western Africa amounted to $X per unit, shrinking by X% against the previous year. Overall, the export price recorded a pronounced decrease. The pace of growth was the most pronounced in 2019 an increase of X%. The level of export peaked at $X per unit in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Sierra Leone ($X per unit), while Nigeria ($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 (X%), while the other leaders experienced a decline in the export price figures.

Ignition Coil Imports

Imports in Western Africa

For the third consecutive year, Western Africa recorded growth in purchases abroad of distributors and ignition coils, which increased by X% to X units in 2022. Overall, imports enjoyed a buoyant expansion. The most prominent rate of growth was recorded in 2021 with an increase of X% against the previous year. The volume of import peaked in 2022 and is likely to continue growth in the immediate term.

In value terms, ignition coil imports expanded sharply to $X in 2022. Over the period under review, imports saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 with an increase of X%. The level of import peaked at $X in 2013; however, from 2014 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, Ghana (X units) represented the key importer of distributors and ignition coils, committing X% of total imports. Cote d'Ivoire (X units) took a X% share (based on physical terms) of total imports, which put it in second place, followed by Nigeria (X%), Guinea (X%) and Mali (X%). Burkina Faso (X units) followed a long way behind the leaders.

Imports into Ghana increased at an average annual rate of X% from 2012 to 2022. At the same time, Mali (X%), Guinea (X%), Cote d'Ivoire (X%) and Burkina Faso (X%) displayed positive paces of growth. Moreover, Mali emerged as the fastest-growing importer imported in Western Africa, with a CAGR of X% from 2012-2022. By contrast, Nigeria (X%) illustrated a downward trend over the same period. Ghana (X p.p.), Guinea (X p.p.), Mali (X p.p.) and Cote d'Ivoire (X p.p.) significantly strengthened its position in terms of the total imports, while Nigeria saw its share reduced by X% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest ignition coil importing markets in Western Africa were Nigeria ($X), Ghana ($X) and Cote d'Ivoire ($X), with a combined X% share of total imports. Guinea, Mali and Burkina Faso lagged somewhat behind, together accounting for a further X%.

Among the main importing countries, Guinea, with a CAGR of X%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the import price in Western Africa amounted to $X per unit, leveling off at the previous year. Overall, the import price, however, saw a deep contraction. The growth pace was the most rapid in 2013 when the import price increased by X%. As a result, import price reached the peak level of $X per unit. From 2014 to 2022, the import prices remained at a somewhat lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Nigeria (X%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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