Western Africa: Market for Forage Harvesters and Other Harvesting Machines 2024

Market Size for Forage Harvesters and Other Harvesting Machines in Western Africa

The West African market for forage harvesters and other harvesting machines shrank slightly to $X in 2021, which is down by -2.6% against the previous year. The market value increased at an average annual rate of +3.4% from 2012 to 2021; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The level of consumption peaked at $X in 2020, and then dropped modestly in the following year.

Production of Forage Harvesters and Other Harvesting Machines in Western Africa

In value terms, production of forage harvesters and other harvesting machines reduced slightly to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +3.0% over the period from 2012 to 2021; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2013 when the production volume increased by 25%. Over the period under review, production of reached the maximum level at $X in 2018; however, from 2019 to 2021, production failed to regain momentum.

Exports of Forage Harvesters and Other Harvesting Machines

Exports in Western Africa

After seven years of growth, overseas shipments of forage harvesters and other harvesting machines decreased by -28.6% to X units in 2021. Over the period under review, exports, however, recorded a strong expansion. The pace of growth appeared the most rapid in 2014 with an increase of 100%. Over the period under review, the exports of reached the maximum at X units in 2020, and then fell remarkably in the following year.

In value terms, exports of forage harvesters and other harvesting machines contracted remarkably to $X in 2021. In general, exports showed a deep slump. The most prominent rate of growth was recorded in 2016 when exports increased by 115%. Over the period under review, the exports of hit record highs at $X in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Ghana dominates machines structure, reaching X units, which was near 87% of total exports in 2021. It was distantly followed by Benin (X units) and Senegal (X units), together making up a 13% share of total exports.

Ghana was also the fastest-growing in terms of the forage harvesters and other harvesting machines exports, with a CAGR of +17.7% from 2012 to 2021. Senegal experienced a relatively flat trend pattern. Benin (-11.5%) illustrated a downward trend over the same period. Ghana (+44 p.p.) and Senegal (+6.7 p.p.) significantly strengthened its position in terms of the total exports, while Benin saw its share reduced by -36.2% from 2012 to 2021, respectively.

In value terms, the largest forage harvesters and other harvesting machines supplying countries in Western Africa were Ghana ($X), Benin ($X) and Senegal ($X), together accounting for 100% of total exports.

In terms of the main exporting countries, Ghana, with a CAGR of +8.5%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced a decline in the exports figures.

Export Prices by Country

In 2021, the export price in Western Africa amounted to $X per unit, shrinking by -61.9% against the previous year. In general, the export price showed a precipitous decline. The most prominent rate of growth was recorded in 2016 an increase of 57%. Over the period under review, the export prices reached the peak figure at $X per unit in 2012; however, from 2013 to 2021, the export prices remained at a lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was Benin ($X per unit), while Senegal ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Ghana (-8.0%), while the other leaders experienced a decline in the export price figures.

Imports of Forage Harvesters and Other Harvesting Machines

Imports in Western Africa

In 2021, imports of forage harvesters and other harvesting machines in Western Africa totaled X units, surging by 1.9% against 2020. Over the period under review, imports showed a significant increase. The pace of growth was the most pronounced in 2020 when imports increased by 274% against the previous year. The volume of import peaked in 2021 and is expected to retain growth in the near future.

In value terms, imports of forage harvesters and other harvesting machines surged to $X in 2021. Overall, imports posted a significant expansion. The pace of growth appeared the most rapid in 2014 with an increase of 116% against the previous year. The level of import peaked in 2021 and is likely to see steady growth in the near future.

Imports by Country

Nigeria dominates machines structure, accounting for X units, which was near 75% of total imports in 2021. Senegal (X units) took a 10% share (based on physical terms) of total imports, which put it in second place, followed by Cote d'Ivoire (5.6%). Ghana (X units) followed a long way behind the leaders.

Nigeria was also the fastest-growing in terms of the forage harvesters and other harvesting machines imports, with a CAGR of +39.4% from 2012 to 2021. At the same time, Senegal (+19.8%), Ghana (+16.7%) and Cote d'Ivoire (+11.5%) displayed positive paces of growth. Nigeria (+44 p.p.) significantly strengthened its position in terms of the total imports, while Ghana, Senegal and Cote d'Ivoire saw its share reduced by -2.4%, -6.1% and -11.6% from 2012 to 2021, respectively.

In value terms, Nigeria ($X) constitutes the largest market for imported forage harvesters and other harvesting machines in Western Africa, comprising 71% of total imports. The second position in the ranking was taken by Cote d'Ivoire ($X), with a 10% share of total imports. It was followed by Senegal, with a 7.4% share.

In Nigeria, imports of forage harvesters and other harvesting machines expanded at an average annual rate of +27.6% over the period from 2012-2021. In the other countries, the average annual rates were as follows: Cote d'Ivoire (+10.0% per year) and Senegal (+21.9% per year).

Import Prices by Country

The import price in Western Africa stood at $X per unit in 2021, increasing by 46% against the previous year. Over the period under review, the import price, however, continues to indicate a noticeable downturn. Over the period under review, import prices attained the peak figure at $X per unit in 2014; however, from 2015 to 2021, 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 Cote d'Ivoire ($X per unit), while Senegal ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Senegal (+1.9%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :