Western Africa: Fire Extinguisher Market 2024

Fire Extinguisher Market Size in Western Africa

The West African fire extinguisher market skyrocketed to $X in 2022, jumping by 22% against the previous year. In general, consumption showed strong growth. Over the period under review, the market reached the peak level at $X in 2020; however, from 2021 to 2022, consumption stood at a somewhat lower figure.

Fire Extinguisher Production in Western Africa

In value terms, fire extinguisher production declined slightly to $X in 2022 estimated in export price. In general, production recorded a resilient increase. The growth pace was the most rapid in 2017 with an increase of 48% against the previous year. Over the period under review, production hit record highs at $X in 2018; however, from 2019 to 2022, production failed to regain momentum.

Fire Extinguisher Exports

Exports in Western Africa

In 2022, after two years of decline, there was significant growth in shipments abroad of fire extinguishers, when their volume increased by 58% to X units. In general, exports saw a resilient increase. The most prominent rate of growth was recorded in 2014 when exports increased by 297% against the previous year. The volume of export peaked at X units in 2019; however, from 2020 to 2022, the exports failed to regain momentum.

In value terms, fire extinguisher exports skyrocketed to $X in 2022. Overall, exports saw a resilient increase. The most prominent rate of growth was recorded in 2014 when exports increased by 347%. As a result, the exports attained the peak of $X. From 2015 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

In 2022, Nigeria (X units), distantly followed by Senegal (X units), Cote d'Ivoire (X units), Ghana (X units) and Liberia (X units) were the largest exporters of fire extinguishers, together comprising 93% of total exports. Burkina Faso (X units) followed a long way behind the leaders.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main exporting countries, was attained by Liberia (with a CAGR of +26.4%), while the other leaders experienced more modest paces of growth.

In value terms, Senegal ($X), Nigeria ($X) and Burkina Faso ($X) were the countries with the highest levels of exports in 2022, together comprising 68% of total exports.

Burkina Faso, with a CAGR of +25.5%, recorded the highest rates of growth with regard to the value of exports, in terms of the main exporting countries 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 1.9% against the previous year. In general, the export price, however, recorded a slight decrease. The most prominent rate of growth was recorded in 2017 an increase of 83%. The level of export peaked at $X per unit in 2014; however, from 2015 to 2022, the export prices remained at a lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Burkina Faso (+4.1%), while the other leaders experienced more modest paces of growth.

Fire Extinguisher Imports

Imports in Western Africa

In 2022, imports of fire extinguishers in Western Africa soared to X units, with an increase of 54% compared with 2021 figures. Overall, imports showed a buoyant increase. The growth pace was the most rapid in 2019 when imports increased by 116%. Over the period under review, imports hit record highs at X units in 2020; however, from 2021 to 2022, imports failed to regain momentum.

In value terms, fire extinguisher imports contracted remarkably to $X in 2022. Over the period under review, imports continue to indicate slight growth. The most prominent rate of growth was recorded in 2019 when imports increased by 47% against the previous year. The level of import peaked at $X in 2020; however, from 2021 to 2022, imports failed to regain momentum.

Imports by Country

Nigeria was the main importing country with an import of around X units, which amounted to 50% of total imports. Ghana (X units) held a 25% share (based on physical terms) of total imports, which put it in second place, followed by Cote d'Ivoire (8.3%) and Senegal (4.7%). Guinea (X units) and Burkina Faso (X units) followed a long way behind the leaders.

Imports into Nigeria increased at an average annual rate of +1.9% from 2012 to 2022. At the same time, Senegal (+18.7%), Cote d'Ivoire (+13.7%), Ghana (+12.5%), Burkina Faso (+5.4%) and Guinea (+5.0%) displayed positive paces of growth. Moreover, Senegal emerged as the fastest-growing importer imported in Western Africa, with a CAGR of +18.7% from 2012-2022. From 2012 to 2022, the share of Ghana, Cote d'Ivoire and Senegal increased by +12, +4.5 and +3.3 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest fire extinguisher importing markets in Western Africa were Ghana ($X), Cote d'Ivoire ($X) and Nigeria ($X), with a combined 60% share of total imports. Senegal, Guinea and Burkina Faso lagged somewhat behind, together accounting for a further 20%.

Senegal, with a CAGR of +14.3%, recorded the highest rates of growth with regard to the value of imports, in terms of 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

The import price in Western Africa stood at $X per unit in 2022, dropping by -53.2% against the previous year. In general, the import price recorded a pronounced descent. The growth pace was the most rapid in 2021 an increase of 63%. As a result, import price reached the peak level of $X per unit, and then fell significantly in the following year.

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 Cote d'Ivoire ($X per unit), while Nigeria ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Guinea (-3.1%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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