Western Africa: Market for Industrial, Laboratory or Bakery Ovens 2024

Market Size for Industrial, Laboratory or Bakery Ovens in Western Africa

The West African market for industrial, laboratory or bakery ovens fell modestly to $X in 2022, with a decrease of -2.8% against the previous year. In general, consumption, however, showed a remarkable increase. Over the period under review, the market reached the maximum level at $X in 2019; however, from 2020 to 2022, consumption stood at a somewhat lower figure.

Production of Industrial, Laboratory or Bakery Ovens in Western Africa

In value terms, industrial, laboratory or bakery oven production declined to $X in 2022 estimated in export price. Overall, production, however, recorded a strong increase. The most prominent rate of growth was recorded in 2016 with an increase of 44% against the previous year. The level of production peaked at $X in 2019; however, from 2020 to 2022, production failed to regain momentum.

Exports of Industrial, Laboratory or Bakery Ovens

Exports in Western Africa

In 2022, after four years of growth, there was significant decline in overseas shipments of industrial, laboratory or bakery ovens, when their volume decreased by -52.6% to X units. In general, exports, however, showed a prominent expansion. The growth pace was the most rapid in 2021 when exports increased by 375%. As a result, the exports attained the peak of X units, and then fell sharply in the following year.

In value terms, industrial, laboratory or bakery oven exports dropped remarkably to $X in 2022. Over the period under review, exports saw a abrupt descent. The most prominent rate of growth was recorded in 2021 when exports increased by 180%. The level of export peaked at $X in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

Exports by Country

In 2022, Nigeria (X units) represented the main exporter of industrial, laboratory or bakery ovens, constituting 78% of total exports. It was distantly followed by Niger (X units), committing a 22% share of total exports.

Nigeria was also the fastest-growing in terms of the industrial, laboratory or bakery ovens exports, with a CAGR of +21.5% from 2012 to 2022. At the same time, Niger (+7.2%) displayed positive paces of growth. From 2012 to 2022, the share of Nigeria and Niger increased by +58 and +2.2 percentage points, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Nigeria ($X) remains the largest industrial, laboratory or bakery oven supplier in Western Africa, comprising 73% of total exports. The second position in the ranking was held by Niger ($X), with a 27% share of total exports.

In Nigeria, industrial, laboratory or bakery oven exports increased at an average annual rate of +13.9% over the period from 2012-2022.

Export Prices by Country

In 2022, the export price in Western Africa amounted to $X per unit, waning by -36.1% against the previous year. In general, the export price saw a abrupt curtailment. The most prominent rate of growth was recorded in 2015 an increase of 150%. Over the period under review, the export prices hit record highs at $X per unit in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.

Average prices varied somewhat amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Niger ($X per unit), while Nigeria stood at $X per unit.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Niger (+7.3%).

Imports of Industrial, Laboratory or Bakery Ovens

Imports in Western Africa

In 2022, purchases abroad of industrial, laboratory or bakery ovens increased by 7.8% to X units, rising for the second consecutive year after two years of decline. Overall, imports posted notable growth. The most prominent rate of growth was recorded in 2018 with an increase of 106%. As a result, imports attained the peak of X units. From 2019 to 2022, the growth of imports remained at a lower figure.

In value terms, industrial, laboratory or bakery oven imports expanded sharply to $X in 2022. In general, imports posted a strong expansion. The growth pace was the most rapid in 2018 when imports increased by 147%. As a result, imports reached the peak of $X. From 2019 to 2022, the growth of imports failed to regain momentum.

Imports by Country

In 2022, Cote d'Ivoire (X units), Ghana (X units) and Nigeria (X units) represented the main importer of industrial, laboratory or bakery ovens in Western Africa, achieving 71% of total import. It was distantly followed by Guinea (X units) and Mali (X units), together achieving a 17% share of total imports. Burkina Faso (X units) and Sierra Leone (X units) followed a long way behind the leaders.

From 2012 to 2022, the biggest increases were recorded for Nigeria (with a CAGR of +30.5%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Nigeria ($X), Cote d'Ivoire ($X) and Ghana ($X) constituted the countries with the highest levels of imports in 2022, together comprising 67% of total imports.

Nigeria, with a CAGR of +57.9%, recorded the highest rates of growth with regard to the value of imports, among the main importing countries 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. Import price indicated pronounced growth from 2012 to 2022: its price increased at an average annual rate of +2.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, industrial, laboratory or bakery oven import price decreased by -24.5% against 2018 indices. The pace of growth appeared the most rapid in 2016 an increase of 92% against the previous year. The level of import peaked at $X per unit in 2018; however, from 2019 to 2022, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Nigeria ($X per unit), while Sierra Leone ($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 (+21.0%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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