Western Africa: Electric Heating Resistor Market 2024

Electric Heating Resistor Market Size in Western Africa

After two years of growth, the West African electric heating resistor market decreased by -13% to $X in 2021. The total consumption indicated buoyant growth from 2012 to 2021: its value increased at an average annual rate of +6.8% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +48.5% against 2018 indices. As a result, consumption attained the peak level of $X, and then reduced in the following year.

Electric Heating Resistor Production in Western Africa

In value terms, electric heating resistor production reduced to $X in 2021 estimated in export price. The total production indicated a strong expansion from 2012 to 2021: its value increased at an average annual rate of +7.1% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production increased by +50.2% against 2018 indices. The pace of growth appeared the most rapid in 2020 with an increase of 38% against the previous year. As a result, production attained the peak level of $X, and then dropped in the following year.

Electric Heating Resistor Exports

Exports in Western Africa

In 2021, shipments abroad of electric heating resistors increased by 609% to X units for the first time since 2016, thus ending a four-year declining trend. In general, exports posted a remarkable increase. Over the period under review, the exports hit record highs at X units in 2014; however, from 2015 to 2021, the exports failed to regain momentum.

In value terms, electric heating resistor exports soared to $X in 2021. Overall, exports continue to indicate a significant increase. The growth pace was the most rapid in 2014 when exports increased by 820% against the previous year. As a result, the exports reached the peak of $X. From 2015 to 2021, the growth of the exports remained at a lower figure.

Exports by Country

Sierra Leone dominates exports structure, amounting to X units, which was near 82% of total exports in 2021. It was distantly followed by Cote d'Ivoire (X units), making up a 5.4% share of total exports. The following exporters - Mali (X units), Togo (X units), Niger (X units) and Nigeria (X units) - together made up 12% of total exports.

From 2012 to 2021, average annual rates of growth with regard to electric heating resistor exports from Sierra Leone stood at +15.9%. At the same time, Cote d'Ivoire (+49.6%), Mali (+17.9%), Nigeria (+15.9%), Togo (+12.8%) and Niger (+8.6%) displayed positive paces of growth. Moreover, Cote d'Ivoire emerged as the fastest-growing exporter exported in Western Africa, with a CAGR of +49.6% from 2012-2021. While the share of Cote d'Ivoire (+4.9 p.p.) and Togo (+2.9 p.p.) increased significantly in terms of the total exports from 2012-2021, the share of Sierra Leone (-1.9 p.p.) and Niger (-2 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Sierra Leone ($X) emerged as the largest electric heating resistor supplier in Western Africa, comprising 79% of total exports. The second position in the ranking was taken by Mali ($X), with an 8.4% share of total exports. It was followed by Niger, with a 3.5% share.

In Sierra Leone, electric heating resistor exports increased at an average annual rate of +26.4% over the period from 2012-2021. In the other countries, the average annual rates were as follows: Mali (+32.5% per year) and Niger (+12.3% per year).

Export Prices by Country

In 2021, the export price in Western Africa amounted to $X per unit, dropping by -36.6% against the previous year. Over the period under review, the export price, however, continues to indicate a strong expansion. The growth pace was the most rapid in 2018 an increase of 154% against the previous year. The level of export peaked at $X per unit in 2020, and then dropped markedly in the following year.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Mali (+12.3%), while the other leaders experienced more modest paces of growth.

Electric Heating Resistor Imports

Imports in Western Africa

For the third year in a row, Western Africa recorded growth in supplies from abroad of electric heating resistors, which increased by 1.2% to X units in 2021. Over the period under review, imports showed prominent growth. The growth pace was the most rapid in 2017 with an increase of 64% against the previous year. Over the period under review, imports attained the peak figure in 2021 and are expected to retain growth in the near future.

In value terms, electric heating resistor imports expanded slightly to $X in 2021. In general, imports saw prominent growth. The most prominent rate of growth was recorded in 2020 with an increase of 54% against the previous year. Over the period under review, imports hit record highs in 2021 and are expected to retain growth in years to come.

Imports by Country

In 2021, Ghana (X units) was the largest importer of electric heating resistors, constituting 49% of total imports. It was distantly followed by Nigeria (X units), Senegal (X units) and Cote d'Ivoire (X units), together comprising a 40% share of total imports. Mali (X units), Mauritania (X units) and Niger (X units) held a minor share of total imports.

From 2012 to 2021, average annual rates of growth with regard to electric heating resistor imports into Ghana stood at +20.6%. At the same time, Senegal (+23.1%), Mali (+19.8%), Mauritania (+18.8%), Cote d'Ivoire (+12.9%) and Niger (+4.9%) displayed positive paces of growth. Moreover, Senegal emerged as the fastest-growing importer imported in Western Africa, with a CAGR of +23.1% from 2012-2021. By contrast, Nigeria (-4.3%) illustrated a downward trend over the same period. Ghana (+29 p.p.), Senegal (+11 p.p.), Cote d'Ivoire (+1.9 p.p.) and Mali (+1.6 p.p.) significantly strengthened its position in terms of the total imports, while Nigeria saw its share reduced by -38.2% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest electric heating resistor importing markets in Western Africa were Nigeria ($X), Ghana ($X) and Senegal ($X), together accounting for 68% of total imports. Cote d'Ivoire, Niger, Mali and Mauritania lagged somewhat behind, together comprising a further 22%.

Mali, with a CAGR of +31.1%, saw 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 2021, the import price in Western Africa amounted to $X per unit, surging by 2.6% against the previous year. Import price indicated a mild expansion from 2012 to 2021: its price increased at an average annual rate of +1.8% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, electric heating resistor import price decreased by -30.7% against 2018 indices. The most prominent rate of growth was recorded in 2014 when the import price increased by 64%. The level of import peaked at $X per unit in 2018; however, from 2019 to 2021, 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 Niger ($X per unit), while Ghana ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Nigeria (+16.7%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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