Western Africa: Market for Fully Or Partly Automatic Electric Machines For Arc Welding Of Metals 2024

Market Size for Fully Or Partly Automatic Electric Machines For Arc Welding Of Metals in Western Africa

In 2022, the West African market for fully or partly automatic electric machines for arc welding of metals decreased by -52.3% to $X, falling for the second year in a row after two years of growth. Overall, consumption, however, enjoyed strong growth. As a result, consumption attained the peak level of $X. From 2021 to 2022, the growth of the market failed to regain momentum.

Production of Fully Or Partly Automatic Electric Machines For Arc Welding Of Metals in Western Africa

In value terms, production of fully or partly automatic electric machines for arc welding of metals stood at $X in 2022 estimated in export price. Overall, production recorded a noticeable expansion. The most prominent rate of growth was recorded in 2013 when the production volume increased by 336%. As a result, production attained the peak level of $X. From 2014 to 2022, production of growth failed to regain momentum.

Exports of Fully Or Partly Automatic Electric Machines For Arc Welding Of Metals

Exports in Western Africa

In 2022, overseas shipments of fully or partly automatic electric machines for arc welding of metals decreased by -27.5% to X units for the first time since 2019, thus ending a two-year rising trend. In general, exports, however, recorded a resilient expansion. The pace of growth appeared the most rapid in 2016 when exports increased by 281%. The volume of export peaked at X units in 2021, and then fell markedly in the following year.

In value terms, exports of fully or partly automatic electric machines for arc welding of metals reduced notably to $X in 2022. Overall, exports, however, showed a strong increase. The pace of growth was the most pronounced in 2016 when exports increased by 248%. The level of export peaked at $X in 2021, and then plummeted in the following year.

Exports by Country

Nigeria (X units) and Cote d'Ivoire (X units) represented roughly 76% of total exports in 2022. Senegal (X units) took a 16% share (based on physical terms) of total exports, which put it in second place, followed by Mauritania (7.1%).

From 2012 to 2022, the biggest increases were recorded for Cote d'Ivoire (with a CAGR of +40.0%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest fully or partly automatic arc welding machine supplying countries in Western Africa were Cote d'Ivoire ($X), Nigeria ($X) and Senegal ($X), together comprising 59% of total exports.

Among the main exporting countries, Cote d'Ivoire, with a CAGR of +32.8%, recorded the highest growth rate of 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

The export price in Western Africa stood at $X per unit in 2022, dropping by -8.9% against the previous year. Over the period under review, the export price showed a relatively flat trend pattern. The growth pace was the most rapid in 2019 an increase of 167%. As a result, the export price attained the peak level of $X per unit. From 2020 to 2022, the export prices failed to regain momentum.

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 Mauritania ($X per unit), while Nigeria ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Senegal (+0.0%), while the other leaders experienced a decline in the export price figures.

Imports of Fully Or Partly Automatic Electric Machines For Arc Welding Of Metals

Imports in Western Africa

In 2022, overseas purchases of fully or partly automatic electric machines for arc welding of metals decreased by -53.8% to X units, falling for the second year in a row after two years of growth. In general, imports, however, showed significant growth. The most prominent rate of growth was recorded in 2020 when imports increased by 533%. As a result, imports attained the peak of X units. From 2021 to 2022, the growth of imports of remained at a somewhat lower figure.

In value terms, imports of fully or partly automatic electric machines for arc welding of metals contracted markedly to $X in 2022. Overall, imports recorded a pronounced slump. The most prominent rate of growth was recorded in 2020 with an increase of 214%. As a result, imports reached the peak of $X. From 2021 to 2022, the growth of imports of remained at a somewhat lower figure.

Imports by Country

Nigeria prevails in metals structure, recording X units, which was approx. 83% of total imports in 2022. Niger (X units), Mauritania (X units), Senegal (X units), Ghana (X units) and Cote d'Ivoire (X units) took a minor share of total imports.

From 2012 to 2022, average annual rates of growth with regard to fully or partly automatic arc welding machine imports into Nigeria stood at +28.2%. At the same time, Niger (+30.0%), Mauritania (+19.6%), Senegal (+18.4%) and Cote d'Ivoire (+6.3%) displayed positive paces of growth. Moreover, Niger emerged as the fastest-growing importer imported in Western Africa, with a CAGR of +30.0% from 2012-2022. By contrast, Ghana (-7.5%) illustrated a downward trend over the same period. While the share of Nigeria (+38 p.p.) and Niger (+2 p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Cote d'Ivoire (-4.8 p.p.) and Ghana (-30.3 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Nigeria ($X), Senegal ($X) and Ghana ($X) were the countries with the highest levels of imports in 2022, with a combined 57% share of total imports.

Senegal, with a CAGR of +19.1%, 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

In 2022, the import price in Western Africa amounted to $X per unit, declining by -25.5% against the previous year. In general, the import price showed a deep slump. The pace of growth was the most pronounced in 2018 when the import price increased by 48% against the previous year. The level of import peaked at $X per unit in 2015; however, from 2016 to 2022, import prices remained at a 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 Senegal ($X per unit), while Nigeria ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Senegal (+0.6%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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