Western Africa: Hydraulic Press Market 2024

Hydraulic Press Market Size in Western Africa

The West African hydraulic press market reduced modestly to $X in 2022, shrinking by -1.7% against the previous year. Over the period under review, consumption, however, showed a buoyant increase. The level of consumption peaked at $X in 2021, and then contracted modestly in the following year.

Hydraulic Press Production in Western Africa

In value terms, hydraulic press production stood at $X in 2022 estimated in export price. Over the period under review, production enjoyed strong growth. The most prominent rate of growth was recorded in 2015 when the production volume increased by 40%. The level of production peaked at $X in 2020; however, from 2021 to 2022, production failed to regain momentum.

Hydraulic Press Exports

Exports in Western Africa

In 2022, after five years of growth, there was significant decline in shipments abroad of hydraulic presses for working metal, when their volume decreased by -92% to X units. Over the period under review, exports faced a abrupt shrinkage. The growth pace was the most rapid in 2013 when exports increased by 305% against the previous year. As a result, the exports attained the peak of X units. From 2014 to 2022, the growth of the exports remained at a lower figure.

In value terms, hydraulic press exports dropped remarkably to $X in 2022. Overall, exports showed a abrupt slump. The most prominent rate of growth was recorded in 2015 when exports increased by 358% against the previous year. As a result, the exports attained the peak of $X. From 2016 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

In 2022, Ghana (X units), followed by Cote d'Ivoire (X units) represented the main exporters of hydraulic presses for working metal, together committing 100% of total exports.

From 2012 to 2022, the biggest increases were recorded for Ghana (with a CAGR of -6.7%).

In value terms, Cote d'Ivoire ($X) remains the largest hydraulic press supplier in Western Africa, comprising 80% of total exports. The second position in the ranking was held by Ghana ($X), with a 20% share of total exports.

From 2012 to 2022, the average annual growth rate of value in Cote d'Ivoire amounted to +1.8%.

Export Prices by Country

The export price in Western Africa stood at $X per unit in 2022, with an increase of 307% against the previous year. Over the period under review, the export price saw prominent growth. The growth pace was the most rapid in 2015 when the export price increased by 781%. As a result, the export price attained the peak level of $X per unit. From 2016 to 2022, the export prices remained at a somewhat 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 Cote d'Ivoire ($X per unit), while Ghana totaled $X per unit.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Cote d'Ivoire (+11.6%).

Hydraulic Press Imports

Imports in Western Africa

In 2022, the amount of hydraulic presses for working metal imported in Western Africa dropped to X units, declining by -11.8% compared with 2021 figures. In general, imports, however, saw prominent growth. The growth pace was the most rapid in 2017 when imports increased by 158%. Over the period under review, imports reached the maximum at X units in 2018; however, from 2019 to 2022, imports failed to regain momentum.

In value terms, hydraulic press imports shrank markedly to $X in 2022. Overall, imports, however, continue to indicate a pronounced increase. The pace of growth appeared the most rapid in 2017 with an increase of 248% against the previous year. Over the period under review, imports attained the maximum at $X in 2018; however, from 2019 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, Nigeria (X units) and Ghana (X units) were the major importers of hydraulic presses for working metal in Western Africa, together resulting at near 67% of total imports. Cote d'Ivoire (X units) held an 11% share (based on physical terms) of total imports, which put it in second place, followed by Guinea (4.8%). Senegal (X units), Mauritania (X units) and Burkina Faso (X units) took a minor share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by Guinea (with a CAGR of +13.1%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Nigeria ($X) constitutes the largest market for imported hydraulic presses for working metal in Western Africa, comprising 61% of total imports. The second position in the ranking was held by Ghana ($X), with a 12% share of total imports. It was followed by Cote d'Ivoire, with a 12% share.

From 2012 to 2022, the average annual growth rate of value in Nigeria amounted to +3.8%. The remaining importing countries recorded the following average annual rates of imports growth: Ghana (-1.7% per year) and Cote d'Ivoire (+17.6% per year).

Import Prices by Country

In 2022, the import price in Western Africa amounted to $X per unit, dropping by -8.4% against the previous year. Over the period under review, the import price recorded a noticeable decrease. The pace of growth appeared the most rapid in 2017 when the import price increased by 35% against the previous year. The level of import peaked at $X per unit in 2013; however, from 2014 to 2022, import prices failed to regain momentum.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Mauritania (+12.0%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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