Western Africa: Electromagnetic Lifting Head Market 2025

Electromagnetic Lifting Head Market Size in Western Africa

The West African electromagnetic lifting head market reduced slightly to $X in 2022, with a decrease of -2.2% against the previous year. The total consumption indicated a remarkable increase from 2012 to 2022: its value increased at an average annual rate of +6.6% 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 +2.9% against 2020 indices. As a result, consumption reached the peak level of $X. From 2017 to 2022, the growth of the market failed to regain momentum.

Electromagnetic Lifting Head Production in Western Africa

In value terms, electromagnetic lifting head production reduced slightly to $X in 2022 estimated in export price. Overall, production, however, enjoyed a strong increase. The most prominent rate of growth was recorded in 2016 with an increase of 74% against the previous year. As a result, production reached the peak level of $X. From 2017 to 2022, production growth remained at a somewhat lower figure.

Electromagnetic Lifting Head Exports

Exports in Western Africa

After three years of growth, overseas shipments of electromagnets and electromagnetic lifting heads decreased by -50.3% to X tons in 2022. In general, exports recorded a drastic downturn. The most prominent rate of growth was recorded in 2019 with an increase of 337% against the previous year. The volume of export peaked at X tons in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

In value terms, electromagnetic lifting head exports dropped remarkably to $X in 2022. Over the period under review, exports recorded a abrupt decrease. The pace of growth appeared the most rapid in 2021 when exports increased by 232% against the previous year. Over the period under review, the exports hit record highs at $X in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

Exports by Country

Nigeria represented the largest exporter of electromagnets and electromagnetic lifting heads in Western Africa, with the volume of exports reaching X tons, which was near 68% of total exports in 2022. It was distantly followed by Senegal (X tons), committing a 22% share of total exports. Guinea (X kg), Ghana (X kg), Cote d'Ivoire (X kg) and Sierra Leone (X kg) followed a long way behind the leaders.

Exports from Nigeria decreased at an average annual rate of -14.9% from 2012 to 2022. At the same time, Senegal (+48.9%), Guinea (+15.5%) and Ghana (+11.3%) displayed positive paces of growth. Moreover, Senegal emerged as the fastest-growing exporter exported in Western Africa, with a CAGR of +48.9% from 2012-2022. Cote d'Ivoire and Sierra Leone experienced a relatively flat trend pattern. Senegal (+22 p.p.), Guinea (+2.8 p.p.) and Ghana (+1.9 p.p.) significantly strengthened its position in terms of the total exports, while Nigeria saw its share reduced by -30.6% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Nigeria ($X) remains the largest electromagnetic lifting head supplier in Western Africa, comprising 62% of total exports. The second position in the ranking was taken by Senegal ($X), with an 11% share of total exports. It was followed by Cote d'Ivoire, with a 7.7% share.

In Nigeria, electromagnetic lifting head exports decreased by an average annual rate of -21.9% over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: Senegal (+30.0% per year) and Cote d'Ivoire (+15.8% per year).

Export Prices by Country

The export price in Western Africa stood at $X per ton in 2022, with an increase of 4.6% against the previous year. In general, the export price, however, showed a deep slump. The pace of growth was the most pronounced in 2021 when the export price increased by 48% against the previous year. The level of export peaked at $X per ton in 2015; however, from 2016 to 2022, the export prices remained at a 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 Cote d'Ivoire ($X per ton), while Senegal ($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 (+14.8%), while the other leaders experienced more modest paces of growth.

Electromagnetic Lifting Head Imports

Imports in Western Africa

In 2022, supplies from abroad of electromagnets and electromagnetic lifting heads increased by 15% to X tons, rising for the fifth year in a row after two years of decline. Over the period under review, imports, however, saw a abrupt slump. The growth pace was the most rapid in 2019 with an increase of 66%. The volume of import peaked at X tons in 2012; however, from 2013 to 2022, imports remained at a lower figure.

In value terms, electromagnetic lifting head imports rose rapidly to $X in 2022. Overall, imports, however, recorded a pronounced contraction. The growth pace was the most rapid in 2019 with an increase of 78%. The level of import peaked at $X in 2012; however, from 2013 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, Nigeria (X tons) represented the largest importer of electromagnets and electromagnetic lifting heads, mixing up 53% of total imports. Ghana (X tons) took an 18% share (based on physical terms) of total imports, which put it in second place, followed by Cote d'Ivoire (7.4%), Benin (5.7%), Burkina Faso (4.9%) and Senegal (4.7%). Mali (X tons) followed a long way behind the leaders.

From 2012 to 2022, average annual rates of growth with regard to electromagnetic lifting head imports into Nigeria stood at -19.0%. At the same time, Benin (+99.8%), Burkina Faso (+52.7%), Mali (+13.3%) and Senegal (+1.1%) displayed positive paces of growth. Moreover, Benin emerged as the fastest-growing importer imported in Western Africa, with a CAGR of +99.8% from 2012-2022. Cote d'Ivoire experienced a relatively flat trend pattern. By contrast, Ghana (-1.4%) illustrated a downward trend over the same period. While the share of Ghana (+13 p.p.), Cote d'Ivoire (+5.8 p.p.), Benin (+5.7 p.p.), Burkina Faso (+4.9 p.p.), Senegal (+3.8 p.p.) and Mali (+2.5 p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Nigeria (-39.4 p.p.) displayed negative dynamics.

In value terms, Nigeria ($X) constitutes the largest market for imported electromagnets and electromagnetic lifting heads in Western Africa, comprising 36% of total imports. The second position in the ranking was held by Ghana ($X), with an 18% share of total imports. It was followed by Burkina Faso, with a 14% share.

From 2012 to 2022, the average annual rate of growth in terms of value in Nigeria amounted to -7.9%. In the other countries, the average annual rates were as follows: Ghana (-5.8% per year) and Burkina Faso (+57.3% per year).

Import Prices by Country

The import price in Western Africa stood at $X per ton in 2022, stabilizing at the previous year. Over the period under review, the import price, however, saw strong growth. The pace of growth appeared the most rapid in 2013 when the import price increased by 135%. The level of import peaked at $X per ton in 2019; however, from 2020 to 2022, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Burkina Faso ($X per ton), while Benin ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Nigeria (+13.6%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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