Western Africa: Hvac Equipment Market 2024

Hvac Equipment Market Size in Western Africa

The West African HVAC equipment market dropped to $X in 2022, leveling off at the previous year. The market value increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. Over the period under review, the market reached the peak level at $X in 2019; however, from 2020 to 2022, consumption remained at a lower figure.

Hvac Equipment Production in Western Africa

In value terms, HVAC equipment production totaled $X in 2022 estimated in export price. The total output value increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2013 with an increase of X% against the previous year. The level of production peaked at $X in 2020; however, from 2021 to 2022, production remained at a lower figure.

Hvac Equipment Exports

Exports in Western Africa

For the third consecutive year, Western Africa recorded growth in overseas shipments of HVAC equipment, which increased by X% to X units in 2022. Over the period under review, exports recorded strong growth. The pace of growth was the most pronounced in 2021 when exports increased by X%. Over the period under review, the exports hit record highs in 2022 and are likely to continue growth in years to come.

In value terms, HVAC equipment exports shrank significantly to $X in 2022. Total exports indicated a measured increase from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by X% against 2018 indices. The most prominent rate of growth was recorded in 2019 when exports increased by X% against the previous year. Over the period under review, the exports hit record highs at $X in 2021, and then declined rapidly in the following year.

Exports by Country

Senegal (X units) and Ghana (X units) were the main exporters of HVAC equipment in 2022, amounting to approx. X% and X% of total exports, respectively. It was distantly followed by Sierra Leone (X units), Togo (X units), Mauritania (X units) and Cote d'Ivoire (X units), together mixing up a X% share of total exports. Burkina Faso (X units) held a relatively small share of total exports.

From 2012 to 2022, the biggest increases were recorded for Ghana (with a CAGR of X%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Senegal ($X) remains the largest HVAC equipment supplier in Western Africa, comprising X% of total exports. The second position in the ranking was held by Ghana ($X), with a X% share of total exports. It was followed by Sierra Leone, with a X% share.

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

Export Prices by Country

In 2022, the export price in Western Africa amounted to $X per unit, shrinking by X% against the previous year. Over the period under review, the export price showed a noticeable descent. The growth pace was the most rapid in 2019 an increase of X%. As a result, the export price reached the peak level of $X per unit. From 2020 to 2022, the export prices remained at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Burkina Faso ($X per unit), while Mauritania ($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 (X%), while the other leaders experienced a decline in the export price figures.

Hvac Equipment Imports

Imports in Western Africa

In 2022, supplies from abroad of HVAC equipment increased by X% to X units for the first time since 2019, thus ending a two-year declining trend. Over the period under review, imports showed a resilient expansion. The most prominent rate of growth was recorded in 2019 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, HVAC equipment imports rose modestly to $X in 2022. Overall, imports enjoyed a resilient increase. The most prominent rate of growth was recorded in 2019 when imports increased by X% against the previous year. As a result, imports reached the peak of $X. From 2020 to 2022, the growth of imports failed to regain momentum.

Imports by Country

In 2022, Nigeria (X units) represented the main importer of HVAC equipment, making up X% of total imports. It was distantly followed by Burkina Faso (X units), Senegal (X units), Ghana (X units) and Niger (X units), together constituting a X% share of total imports. Cote d'Ivoire (X units), Togo (X units) and Mauritania (X units) took a little share of total imports.

From 2012 to 2022, average annual rates of growth with regard to HVAC equipment imports into Nigeria stood at X%. At the same time, Senegal (X%), Mauritania (X%), Burkina Faso (X%), Niger (X%), Ghana (X%) and Cote d'Ivoire (X%) displayed positive paces of growth. Moreover, Senegal emerged as the fastest-growing importer imported in Western Africa, with a CAGR of X% from 2012-2022. Togo experienced a relatively flat trend pattern. From 2012 to 2022, the share of Senegal, Burkina Faso and Mauritania increased by X, X and X percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Nigeria ($X) constitutes the largest market for imported HVAC equipment in Western Africa, comprising X% of total imports. The second position in the ranking was taken by Ghana ($X), with a X% share of total imports. It was followed by Cote d'Ivoire, with a X% share.

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

Import Prices by Country

In 2022, the import price in Western Africa amounted to $X per unit, shrinking by X% against the previous year. Overall, the import price continues to indicate a noticeable shrinkage. The pace of growth appeared the most rapid in 2014 when the import price increased by X%. As a result, import price reached the peak level of $X per unit. From 2015 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 Cote d'Ivoire ($X per unit), while Burkina Faso ($X per unit) was amongst the lowest.

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

Source: IndexBox Platform