Western Africa: Mounting Lifting Equipment Market 2025

Mounting Lifting Equipment Market Size in Western Africa

In 2021, after nine years of growth, there was significant decline in the West African mounting lifting equipment market, when its value decreased by -9% to $X. Overall, consumption, however, saw buoyant growth. Over the period under review, the market attained the peak level at $X in 2020, and then reduced in the following year.

Mounting Lifting Equipment Production in Western Africa

In value terms, mounting lifting equipment production declined to $X in 2021 estimated in export price. In general, production, however, enjoyed a resilient increase. The growth pace was the most rapid in 2017 with an increase of 74%. The level of production peaked at $X in 2020, and then declined in the following year.

Mounting Lifting Equipment Exports

Exports in Western Africa

In 2021, approx. X units of lifting equipment designed for mounting on road vehicles were exported in Western Africa; with an increase of 690% compared with the year before. Overall, exports enjoyed significant growth. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, mounting lifting equipment exports surged to $X in 2021. Over the period under review, exports recorded significant growth. The pace of growth appeared the most rapid in 2016 with an increase of 5,904% against the previous year. The level of export peaked in 2021 and is expected to retain growth in the immediate term.

Exports by Country

In 2021, Liberia (X units) was the main exporter of lifting equipment designed for mounting on road vehicles, making up 72% of total exports. Togo (X units) held the second position in the ranking, followed by Ghana (X units). All these countries together held approx. 28% share of total exports.

Liberia experienced a relatively flat trend pattern with regard to volume of exports of lifting equipment designed for mounting on road vehicles. At the same time, Togo (+128.9%) displayed positive paces of growth. Moreover, Togo emerged as the fastest-growing exporter exported in Western Africa, with a CAGR of +128.9% from 2012-2021. By contrast, Ghana (-6.5%) illustrated a downward trend over the same period. From 2012 to 2021, the share of Liberia, Togo and Ghana increased by +71, +14 and +12 percentage points, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Liberia ($X) emerged as the largest mounting lifting equipment supplier in Western Africa, comprising 78% of total exports. The second position in the ranking was held by Ghana ($X), with a 12% share of total exports.

In Liberia, mounting lifting equipment exports remained relatively stable over the period from 2012-2021. The remaining exporting countries recorded the following average annual rates of exports growth: Ghana (+28.2% per year) and Togo (+53.0% per year).

Export Prices by Country

In 2021, the export price in Western Africa amounted to $X per unit, which is down by -31.8% against the previous year. In general, the export price, however, showed buoyant growth. The growth pace was the most rapid in 2015 an increase of 376% against the previous year. Over the period under review, the export prices reached the maximum at $X per unit in 2016; however, from 2017 to 2021, the export prices failed to regain momentum.

There were significant differences in the average prices amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was Liberia ($X per unit), while Togo ($X per unit) was amongst the lowest.

From 2013 to 2021, the most notable rate of growth in terms of prices was attained by Ghana (+37.2%).

Mounting Lifting Equipment Imports

Imports in Western Africa

In 2021, supplies from abroad of lifting equipment designed for mounting on road vehicles was finally on the rise to reach X units for the first time since 2017, thus ending a three-year declining trend. Overall, imports showed a mild expansion. The pace of growth was the most pronounced in 2014 when imports increased by 136% against the previous year. As a result, imports reached the peak of X units. From 2015 to 2021, the growth of imports failed to regain momentum.

In value terms, mounting lifting equipment imports soared to $X in 2021. In general, imports, however, showed a slight shrinkage. The level of import peaked at $X in 2012; however, from 2013 to 2021, imports remained at a lower figure.

Imports by Country

The purchases of the six major importers of lifting equipment designed for mounting on road vehicles, namely Nigeria, Cote d'Ivoire, Senegal, Benin, Ghana and Mauritania, represented more than two-thirds of total import. Niger (X units) took a relatively small share of total imports.

From 2012 to 2021, the biggest increases were recorded for Benin (with a CAGR of +24.1%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Nigeria ($X) constitutes the largest market for imported lifting equipment designed for mounting on road vehicles in Western Africa, comprising 41% of total imports. The second position in the ranking was held by Cote d'Ivoire ($X), with a 17% share of total imports. It was followed by Senegal, with a 15% share.

In Nigeria, mounting lifting equipment imports declined by an average annual rate of -3.3% over the period from 2012-2021. The remaining importing countries recorded the following average annual rates of imports growth: Cote d'Ivoire (+18.3% per year) and Senegal (+12.7% per year).

Import Prices by Country

The import price in Western Africa stood at $X per unit in 2021, jumping by 76% against the previous year. Overall, the import price, however, continues to indicate a perceptible decline. The level of import peaked at $X per unit in 2012; however, from 2013 to 2021, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2021, 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 2021, the most notable rate of growth in terms of prices was attained by Benin (+20.6%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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