Western Africa: Jacks And Hoists Market 2024

Jacks And Hoists Market Size in Western Africa

For the sixth year in a row, the West African jacks and hoists market recorded decline in sales value, which decreased by -3.5% to $X in 2022. Over the period under review, consumption showed a pronounced reduction. The level of consumption peaked at $X in 2012; however, from 2013 to 2022, consumption remained at a lower figure.

Jacks And Hoists Production in Western Africa

In value terms, jacks and hoists production dropped modestly to $X in 2022 estimated in export price. Overall, production recorded a noticeable reduction. The pace of growth appeared the most rapid in 2016 with an increase of 83%. Over the period under review, production reached the peak level at $X in 2012; however, from 2013 to 2022, production failed to regain momentum.

Jacks And Hoists Exports

Exports in Western Africa

In 2022, the amount of jacks and hoists for raising vehicles exported in Western Africa shrank markedly to X units, which is down by -38% compared with 2021. In general, exports, however, saw a mild expansion. The growth pace was the most rapid in 2021 when exports increased by 327% against the previous year. Over the period under review, the exports attained the maximum at X units in 2015; however, from 2016 to 2022, the exports remained at a lower figure.

In value terms, jacks and hoists exports declined to $X in 2022. Over the period under review, exports continue to indicate a pronounced curtailment. The growth pace was the most rapid in 2013 with an increase of 282% against the previous year. As a result, the exports attained the peak of $X. From 2014 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

Togo (X units) and Senegal (X units) dominates exports structure, together making up 91% of total exports. It was distantly followed by Ghana (X units), constituting a 4.5% share of total exports. Nigeria (X units) 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 Togo (with a CAGR of +18.5%), while the other leaders experienced more modest paces of growth.

In value terms, Ghana ($X), Senegal ($X) and Togo ($X) were the countries with the highest levels of exports in 2022, with a combined 63% share of total exports.

Ghana, with a CAGR of +37.7%, saw the highest rates of growth with regard to the value of exports, among the main exporting countries 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, growing by 42% against the previous year. Overall, the export price, however, saw a deep slump. The pace of growth was the most pronounced in 2013 an increase of 283%. As a result, the export price attained the peak level of $X per unit. From 2014 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 Ghana ($X per unit), while Togo ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Ghana (+31.2%), while the other leaders experienced more modest paces of growth.

Jacks And Hoists Imports

Imports in Western Africa

In 2022, overseas purchases of jacks and hoists for raising vehicles decreased by -67.2% to X units, falling for the second year in a row after three years of growth. Over the period under review, imports, however, continue to indicate mild growth. The most prominent rate of growth was recorded in 2013 with an increase of 950% against the previous year. Over the period under review, imports reached the maximum at X units in 2020; however, from 2021 to 2022, imports stood at a somewhat lower figure.

In value terms, jacks and hoists imports contracted sharply to $X in 2022. Overall, imports showed a drastic downturn. The growth pace was the most rapid in 2013 with an increase of 262%. As a result, imports attained the peak of $X. From 2014 to 2022, the growth of imports remained at a lower figure.

Imports by Country

In 2022, Burkina Faso (X units) was the main importer of jacks and hoists for raising vehicles, creating 35% of total imports. Nigeria (X units) ranks second in terms of the total imports with a 19% share, followed by Senegal (12%), Ghana (12%) and Cote d'Ivoire (5.1%). The following importers - Guinea (X units) and Mali (X units) - each reached a 6.1% share of total imports.

From 2012 to 2022, the biggest increases were recorded for Mali (with a CAGR of +18.4%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Nigeria ($X), Cote d'Ivoire ($X) and Ghana ($X) appeared to be the countries with the highest levels of imports in 2022, together accounting for 49% of total imports. Senegal, Burkina Faso, Mali and Guinea lagged somewhat behind, together accounting for a further 39%.

Among the main importing countries, Mali, with a CAGR of +14.5%, recorded the highest rates of growth with regard to the value of imports, 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, with an increase of 67% against the previous year. In general, the import price, however, saw a abrupt curtailment. The most prominent rate of growth was recorded in 2021 when the import price increased by 83% against the previous year. The level of import peaked at $X per unit in 2012; however, from 2013 to 2022, import prices stood at a somewhat lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Burkina Faso (-1.1%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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