Western Africa: Market for Lifts, Elevators, Moving Stairways and Draglines 2024

Market Size for Lifts, Elevators, Moving Stairways and Draglines in Western Africa

In 2022, the West African market for lifts, elevators, moving stairways and draglines increased by 12% to $X, rising for the sixth consecutive year after two years of decline. Overall, consumption saw strong growth. Over the period under review, the market attained the peak level in 2022 and is expected to retain growth in the near future.

Production of Lifts, Elevators, Moving Stairways and Draglines in Western Africa

In value terms, lift, elevator, stairway and dragline production rose remarkably to $X in 2022 estimated in export price. Over the period under review, production enjoyed a buoyant increase. The growth pace was the most rapid in 2020 with an increase of 31% against the previous year. As a result, production attained the peak level of $X. From 2021 to 2022, production growth remained at a somewhat lower figure.

Exports of Lifts, Elevators, Moving Stairways and Draglines

Exports in Western Africa

Lift, elevator, stairway and dragline exports surged to X units in 2022, rising by 235% on the previous year's figure. Over the period under review, exports saw a buoyant increase. The most prominent rate of growth was recorded in 2014 with an increase of 521%. As a result, the exports reached the peak of X units. From 2015 to 2022, the growth of the exports remained at a lower figure.

In value terms, lift, elevator, stairway and dragline exports soared to $X in 2022. Overall, exports continue to indicate resilient growth. The growth pace was the most rapid in 2018 with an increase of 89%. Over the period under review, the exports reached the peak figure in 2022 and are expected to retain growth in the near future.

Exports by Country

Ghana (X units) and Senegal (X units) dominates exports structure, together creating 71% of total exports. It was distantly followed by Cabo Verde (X units), Mali (X units) and Nigeria (X units), together making up an 18% share of total exports. Togo (X units) and Cote d'Ivoire (X units) held a little share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main exporting countries, was attained by Senegal (with a CAGR of +31.7%), while the other leaders experienced more modest paces of growth.

In value terms, the largest lift, elevator, stairway and dragline supplying countries in Western Africa were Nigeria ($X), Senegal ($X) and Ghana ($X), together comprising 58% of total exports.

Senegal, with a CAGR of +43.3%, saw the highest growth rate of the value of exports, in terms of 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

In 2022, the export price in Western Africa amounted to $X per unit, with a decrease of -58.9% against the previous year. Overall, the export price saw a abrupt slump. The pace of growth was the most pronounced in 2015 an increase of 233%. The level of export peaked at $X per unit in 2021, and then fell markedly in the following year.

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 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 Senegal (+8.9%), while the other leaders experienced more modest paces of growth.

Imports of Lifts, Elevators, Moving Stairways and Draglines

Imports in Western Africa

In 2022, approx. X units of lifts, elevators, moving stairways and draglines were imported in Western Africa; picking up by 38% compared with the previous year. Overall, imports showed a prominent expansion. The most prominent rate of growth was recorded in 2014 with an increase of 58%. The volume of import peaked in 2022 and is likely to see steady growth in years to come.

In value terms, lift, elevator, stairway and dragline imports reached $X in 2022. Total imports indicated resilient growth from 2012 to 2022: its value increased at an average annual rate of +6.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports decreased by -2.3% against 2019 indices. The pace of growth appeared the most rapid in 2014 when imports increased by 59% against the previous year. The level of import peaked at $X in 2019; however, from 2020 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, Nigeria (X units), distantly followed by Senegal (X units), Ghana (X units), Cote d'Ivoire (X units) and Mali (X units) represented the largest importers of lifts, elevators, moving stairways and draglines, together generating 84% of total imports. The following importers - Benin (X units) and Burkina Faso (X units) - each reached a 5.8% share of total imports.

From 2012 to 2022, the biggest increases were recorded for Senegal (with a CAGR of +28.4%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Nigeria ($X) constitutes the largest market for imported lifts, elevators, moving stairways and draglines in Western Africa, comprising 39% of total imports. The second position in the ranking was held by Senegal ($X), with a 17% share of total imports. It was followed by Ghana, with a 14% share.

In Nigeria, lift, elevator, stairway and dragline imports increased at an average annual rate of +3.4% over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: Senegal (+16.4% per year) and Ghana (+3.7% per year).

Import Prices by Country

In 2022, the import price in Western Africa amounted to $X per unit, dropping by -27.2% against the previous year. In general, the import price recorded a deep contraction. The most prominent rate of growth was recorded in 2018 when the import price increased by 5.7%. Over the period under review, import prices reached the peak figure at $X per unit in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

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 Cote d'Ivoire ($X per unit), while Mali ($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 (+0.3%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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