Western Africa: Market for Gearboxes and Speed Changers 2025

Market Size for Gearboxes and Speed Changers in Western Africa

The West African gearboxes and speed changers market expanded markedly to $X in 2022, growing by X% against the previous year. Overall, consumption posted a prominent expansion. The level of consumption peaked in 2022 and is likely to see steady growth in the near future.

Production of Gearboxes and Speed Changers in Western Africa

In value terms, gearboxes and speed changers production rose notably to $X in 2022 estimated in export price. In general, production saw a resilient increase. The most prominent rate of growth was recorded in 2014 when the production volume increased by X% against the previous year. The level of production peaked at $X in 2020; however, from 2021 to 2022, production stood at a somewhat lower figure.

Exports of Gearboxes and Speed Changers

Exports in Western Africa

Gearboxes and speed changers exports surged to X tons in 2022, jumping by X% compared with 2021 figures. Overall, exports saw a moderate expansion. The growth pace was the most rapid in 2019 with an increase of X%. Over the period under review, the exports attained the peak figure in 2022 and are expected to retain growth in years to come.

In value terms, gearboxes and speed changers exports skyrocketed to $X in 2022. Over the period under review, exports posted buoyant growth. The most prominent rate of growth was recorded in 2019 with an increase of X%. Over the period under review, the exports attained the peak figure at $X in 2020; however, from 2021 to 2022, the exports failed to regain momentum.

Exports by Country

In 2022, Nigeria (X tons) was the largest exporter of gearboxes and speed changers, generating X% of total exports. Ghana (X tons) took the second position in the ranking, distantly followed by Mali (X tons), Senegal (X tons), Burkina Faso (X tons) and Guinea (X tons). All these countries together took approx. X% share of total exports. Niger (X tons) followed a long way behind the leaders.

From 2012 to 2022, average annual rates of growth with regard to gearboxes and speed changers exports from Nigeria stood at X%. At the same time, Mali (X%), Niger (X%), Burkina Faso (X%) and Senegal (X%) displayed positive paces of growth. Moreover, Mali emerged as the fastest-growing exporter exported in Western Africa, with a CAGR of X% from 2012-2022. By contrast, Ghana (X%) and Guinea (X%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Nigeria, Mali, Senegal, Burkina Faso and Niger increased by X, X, X, X and X percentage points, respectively.

In value terms, Nigeria ($X) remains the largest gearboxes and speed changers supplier in Western Africa, comprising X% of total exports. The second position in the ranking was held by Ghana ($X), with a X% share of total exports. It was followed by Senegal, with a X% share.

From 2012 to 2022, the average annual growth rate of value in Nigeria stood at X%. In the other countries, the average annual rates were as follows: Ghana (X% per year) and Senegal (X% per year).

Export Prices by Country

The export price in Western Africa stood at $X per ton in 2022, growing by X% against the previous year. Over the period under review, the export price posted a strong expansion. The most prominent rate of growth was recorded in 2014 when the export price increased by X%. Over the period under review, the export prices hit record highs at $X per ton in 2020; however, from 2021 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 Niger ($X per ton), while Guinea ($X per ton) was amongst the lowest.

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

Imports of Gearboxes and Speed Changers

Imports in Western Africa

In 2022, approx. X tons of gearboxes and speed changers were imported in Western Africa; rising by X% against 2021. Overall, imports continue to indicate a buoyant expansion. The growth pace was the most rapid in 2021 when imports increased by X% against the previous year. The volume of import peaked in 2022 and is expected to retain growth in years to come.

In value terms, gearboxes and speed changers imports rose significantly to $X in 2022. Over the period under review, imports posted a tangible increase. The growth pace was the most rapid in 2021 when imports increased by X% against the previous year. Over the period under review, imports reached the peak figure in 2022 and are likely to see gradual growth in the immediate term.

Imports by Country

Nigeria prevails in imports structure, recording X tons, which was near X% of total imports in 2022. Ghana (X tons) held the second position in the ranking, followed by Guinea (X tons) and Cote d'Ivoire (X tons). All these countries together held approx. X% share of total imports. The following importers - Mali (X tons), Mauritania (X tons) and Burkina Faso (X tons) - each reached an X% share of total imports.

Nigeria was also the fastest-growing in terms of the gearboxes and speed changers imports, with a CAGR of X% from 2012 to 2022. At the same time, Guinea (X%), Mauritania (X%), Cote d'Ivoire (X%) and Mali (X%) displayed positive paces of growth. By contrast, Burkina Faso (X%) and Ghana (X%) illustrated a downward trend over the same period. While the share of Nigeria (X p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Burkina Faso (X p.p.) and Ghana (X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Nigeria ($X) constitutes the largest market for imported gearboxes and speed changers in Western Africa, comprising X% of total imports. The second position in the ranking was taken by Guinea ($X), with a X% share of total imports. It was followed by Ghana, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value in Nigeria totaled X%. The remaining importing countries recorded the following average annual rates of imports growth: Guinea (X% per year) and Ghana (X% per year).

Import Prices by Country

The import price in Western Africa stood at $X per ton in 2022, declining by X% against the previous year. In general, the import price saw a perceptible contraction. The most prominent rate of growth was recorded in 2015 when the import price increased by X%. As a result, import price attained the peak level of $X per ton. From 2016 to 2022, the import prices remained at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Mauritania ($X per ton), while Nigeria ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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