Western Africa: Electric Sound Amplifier Market 2024

Electric Sound Amplifier Market Size in Western Africa

The West African electric sound amplifier market reduced slightly to $X in 2022, declining by -2.3% against the previous year. The total consumption indicated strong growth from 2012 to 2022: its value increased at an average annual rate of +5.5% 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 +1.7% against 2020 indices. The level of consumption peaked at $X in 2021, and then shrank modestly in the following year.

Electric Sound Amplifier Production in Western Africa

In value terms, electric sound amplifier production shrank slightly to $X in 2022 estimated in export price. The total production indicated a temperate expansion from 2012 to 2022: its value increased at an average annual rate of +3.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production increased by +2.2% against 2020 indices. The growth pace was the most rapid in 2016 when the production volume increased by 44% against the previous year. Over the period under review, production attained the maximum level at $X in 2018; however, from 2019 to 2022, production stood at a somewhat lower figure.

Electric Sound Amplifier Exports

Exports in Western Africa

Electric sound amplifier exports expanded slightly to X units in 2022, with an increase of 2.3% against 2021. Overall, exports, however, saw a deep slump. The most prominent rate of growth was recorded in 2016 when exports increased by 10,810% against the previous year. As a result, the exports reached the peak of X units. From 2017 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, electric sound amplifier exports surged to $X in 2022. Over the period under review, exports, however, showed a perceptible shrinkage. The growth pace was the most rapid in 2016 with an increase of 3,211%. As a result, the exports attained the peak of $X. From 2017 to 2022, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Togo represented the main exporting country with an export of about X units, which reached 46% of total exports. Mali (X units) held a 23% share (based on physical terms) of total exports, which put it in second place, followed by Nigeria (13%) and Senegal (7.4%). The following exporters - Ghana (X units), Cote d'Ivoire (X units) and Niger (X units) - together made up 11% of total exports.

From 2012 to 2022, the biggest increases were recorded for Togo (with a CAGR of +37.6%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest electric sound amplifier supplying countries in Western Africa were Togo ($X), Nigeria ($X) and Mali ($X), together accounting for 80% of total exports.

In terms of the main exporting countries, Togo, with a CAGR of +52.2%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the export price in Western Africa amounted to $X per unit, with an increase of 106% against the previous year. Overall, the export price enjoyed a buoyant increase. The most prominent rate of growth was recorded in 2017 when the export price increased by 525%. The level of export peaked at $X per unit in 2019; however, from 2020 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Nigeria ($X per unit), while Mali ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Ghana (+32.8%), while the other leaders experienced more modest paces of growth.

Electric Sound Amplifier Imports

Imports in Western Africa

In 2022, approx. X units of electric sound amplifier sets were imported in Western Africa; surging by 19% compared with the year before. In general, imports continue to indicate a significant increase. The pace of growth was the most pronounced in 2018 when imports increased by 226%. Over the period under review, imports hit record highs in 2022 and are expected to retain growth in the near future.

In value terms, electric sound amplifier imports reached $X in 2022. Overall, imports continue to indicate resilient growth. The most prominent rate of growth was recorded in 2018 when imports increased by 133%. Over the period under review, imports attained the peak figure in 2022 and are likely to see gradual growth in the near future.

Imports by Country

Ghana represented the key importing country with an import of around X units, which recorded 43% of total imports. Cote d'Ivoire (X units) ranks second in terms of the total imports with a 24% share, followed by Togo (20%) and Guinea (7.4%). Nigeria (X units) followed a long way behind the leaders.

From 2012 to 2022, the biggest increases were recorded for Guinea (with a CAGR of +76.3%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest electric sound amplifier importing markets in Western Africa were Ghana ($X), Cote d'Ivoire ($X) and Nigeria ($X), with a combined 84% share of total imports. Guinea and Togo lagged somewhat behind, together accounting for a further 11%.

In terms of the main importing countries, Guinea, with a CAGR of +46.9%, 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

The import price in Western Africa stood at $X per unit in 2022, reducing by -15% against the previous year. Overall, the import price showed a deep downturn. The pace of growth was the most pronounced in 2017 when the import price increased by 145%. Over the period under review, import prices reached the peak figure at $X per unit in 2012; however, from 2013 to 2022, import prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Nigeria ($X per unit), while Togo ($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 (+3.2%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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