Western Africa: Market for Iron Or Steel Bridges And Bridge-Sections 2024

Market Size for Iron Or Steel Bridges And Bridge-Sections in Western Africa

After three years of growth, the West African iron or steel bridges market decreased by -12.6% to $X in 2022. Over the period under review, consumption, however, continues to indicate a strong increase. As a result, consumption attained the peak level of $X. From 2015 to 2022, the growth of the market failed to regain momentum.

Production of Iron Or Steel Bridges And Bridge-Sections in Western Africa

In value terms, iron or steel bridges production reached $X in 2022 estimated in export price. Over the period under review, production saw buoyant growth. The growth pace was the most rapid in 2014 with an increase of 45% against the previous year. Over the period under review, production hit record highs at $X in 2020; however, from 2021 to 2022, production stood at a somewhat lower figure.

Exports of Iron Or Steel Bridges And Bridge-Sections

Exports in Western Africa

In 2022, approx. X tons of iron or steel bridges and bridge-sections were exported in Western Africa; with a decrease of -44.2% against 2021 figures. In general, exports recorded a abrupt descent. The pace of growth was the most pronounced in 2020 when exports increased by 237%. Over the period under review, the exports attained the maximum at X tons in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

In value terms, iron or steel bridges exports fell significantly to $X in 2022. Overall, exports continue to indicate a deep setback. The pace of growth appeared the most rapid in 2020 when exports increased by 60%. The level of export peaked at $X in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

In 2022, Senegal (X tons), Ghana (X tons) and Burkina Faso (X tons) represented the key exporter of iron or steel bridges and bridge-sections in Western Africa, committing 92% of total export. It was distantly followed by Benin (X tons), generating a 5.3% share of total exports. Cote d'Ivoire (X kg) followed a long way behind the leaders.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main exporting countries, was attained by Ghana (with a CAGR of +22.8%), while the other leaders experienced mixed trends in the exports figures.

In value terms, the largest iron or steel bridges supplying countries in Western Africa were Senegal ($X), Ghana ($X) and Burkina Faso ($X), together comprising 95% of total exports.

In terms of the main exporting countries, Ghana, with a CAGR of +17.5%, saw the highest rates of growth with regard to 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

In 2022, the export price in Western Africa amounted to $X per ton, which is down by -27.3% against the previous year. Over the period under review, the export price continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 when the export price increased by 101% against the previous year. Over the period under review, the export prices attained the maximum at $X per ton in 2017; however, from 2018 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Senegal ($X per ton), while Benin ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Burkina Faso (+11.1%), while the other leaders experienced more modest paces of growth.

Imports of Iron Or Steel Bridges And Bridge-Sections

Imports in Western Africa

In 2022, purchases abroad of iron or steel bridges and bridge-sections decreased by -49.5% to X tons for the first time since 2018, thus ending a three-year rising trend. Overall, imports showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2014 with an increase of 1,085% against the previous year. As a result, imports attained the peak of X tons. From 2015 to 2022, the growth of imports remained at a lower figure.

In value terms, iron or steel bridges imports reduced rapidly to $X in 2022. In general, imports, however, saw a buoyant expansion. The pace of growth was the most pronounced in 2014 with an increase of 1,691%. As a result, imports attained the peak of $X. From 2015 to 2022, the growth of imports remained at a lower figure.

Imports by Country

Ghana represented the key importer of iron or steel bridges and bridge-sections in Western Africa, with the volume of imports amounting to X tons, which was approx. 37% of total imports in 2022. It was distantly followed by Nigeria (X tons), Guinea (X tons), Cote d'Ivoire (X tons) and Senegal (X tons), together creating a 50% share of total imports. The following importers - Benin (X tons) and Mauritania (X tons) - each resulted at a 7.9% 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 Benin (with a CAGR of +48.4%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Ghana ($X) constitutes the largest market for imported iron or steel bridges and bridge-sections in Western Africa, comprising 60% of total imports. The second position in the ranking was taken by Cote d'Ivoire ($X), with a 15% share of total imports. It was followed by Guinea, with an 8.3% share.

In Ghana, iron or steel bridges imports expanded at an average annual rate of +9.1% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Cote d'Ivoire (+52.7% per year) and Guinea (+15.4% per year).

Import Prices by Country

The import price in Western Africa stood at $X per ton in 2022, growing by 16% against the previous year. Overall, the import price continues to indicate a buoyant increase. The most prominent rate of growth was recorded in 2021 when the import price increased by 87%. Over the period under review, import prices reached the maximum in 2022 and is likely to see steady growth in the immediate term.

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 Ghana ($X per ton), while Mauritania ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Cote d'Ivoire (+10.3%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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