Western Africa: Machinery Electrical Parts Market 2024

Machinery Electrical Parts Market Size in Western Africa

The West African machinery electrical parts market declined slightly to $X in 2022, approximately reflecting the previous year. In general, consumption, however, enjoyed a prominent expansion. Over the period under review, the market reached the maximum level at $X in 2017; however, from 2018 to 2022, consumption failed to regain momentum.

Machinery Electrical Parts Production in Western Africa

In value terms, machinery electrical parts production declined to $X in 2022 estimated in export price. In general, production, however, enjoyed a strong increase. The pace of growth appeared the most rapid in 2016 with an increase of 145%. Over the period under review, production reached the peak level at $X in 2017; however, from 2018 to 2022, production remained at a lower figure.

Machinery Electrical Parts Exports

Exports in Western Africa

After two years of growth, shipments abroad of electrical parts of machinery or apparatus decreased by -42.2% to X tons in 2022. Overall, exports, however, saw strong growth. The pace of growth appeared the most rapid in 2021 with an increase of 333%. As a result, the exports attained the peak of X tons, and then declined significantly in the following year.

In value terms, machinery electrical parts exports shrank remarkably to $X in 2022. In general, exports, however, recorded a tangible increase. The pace of growth appeared the most rapid in 2021 when exports increased by 278% against the previous year. As a result, the exports attained the peak of $X, and then dropped notably in the following year.

Exports by Country

In 2022, Togo (X tons) and Nigeria (X tons) were the major exporters of electrical parts of machinery or apparatus in Western Africa, together making up 87% of total exports. It was distantly followed by Senegal (X tons), mixing up an 11% share of total exports.

From 2012 to 2022, the biggest increases were recorded for Nigeria (with a CAGR of +39.3%), while shipments for the other leaders experienced mixed trends in the exports figures.

In value terms, Nigeria ($X) remains the largest machinery electrical parts supplier in Western Africa, comprising 71% of total exports. The second position in the ranking was held by Togo ($X), with a 12% share of total exports.

From 2012 to 2022, the average annual growth rate of value in Nigeria totaled +4.1%. The remaining exporting countries recorded the following average annual rates of exports growth: Togo (+93.4% per year) and Senegal (-4.5% per year).

Export Prices by Country

The export price in Western Africa stood at $X per ton in 2022, growing by 16% against the previous year. Overall, the export price, however, saw a abrupt contraction. The most prominent rate of growth was recorded in 2017 an increase of 60% against the previous year. The level of export peaked at $X per ton in 2012; however, from 2013 to 2022, 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 Nigeria ($X per ton), while Togo ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Togo (+56.8%), while the other leaders experienced a decline in the export price figures.

Machinery Electrical Parts Imports

Imports in Western Africa

In 2022, machinery electrical parts imports in Western Africa reduced sharply to X tons, which is down by -17.4% compared with 2021. Over the period under review, imports, however, continue to indicate a strong increase. The most prominent rate of growth was recorded in 2016 when imports increased by 172%. The volume of import peaked at X tons in 2020; however, from 2021 to 2022, imports failed to regain momentum.

In value terms, machinery electrical parts imports declined to $X in 2022. Overall, imports, however, recorded a resilient increase. The most prominent rate of growth was recorded in 2016 when imports increased by 77%. As a result, imports attained the peak of $X. From 2017 to 2022, the growth of imports failed to regain momentum.

Imports by Country

Ghana (X tons) and Nigeria (X tons) prevails in imports structure, together mixing up 80% of total imports. Senegal (X tons) ranks next in terms of the total imports with an 8% share, followed by Guinea (5.4%). The following importers - Niger (X tons) and Cote d'Ivoire (X tons) - each finished at a 4.2% share of total imports.

From 2012 to 2022, the biggest increases were recorded for Niger (with a CAGR of +29.9%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Nigeria ($X) constitutes the largest market for imported electrical parts of machinery or apparatus in Western Africa, comprising 42% of total imports. The second position in the ranking was taken by Niger ($X), with a 16% share of total imports. It was followed by Ghana, with a 15% share.

In Nigeria, machinery electrical parts imports increased at an average annual rate of +24.8% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Niger (+27.5% per year) and Ghana (+3.2% per year).

Import Prices by Country

The import price in Western Africa stood at $X per ton in 2022, surging by 3% against the previous year. Overall, the import price recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 when the import price increased by 105%. Over the period under review, import prices attained the maximum at $X per ton in 2015; however, from 2016 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 Niger ($X per ton), while Ghana ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Cote d'Ivoire (+5.4%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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