Western Africa: Market for Machine-Tools For Working Any Material By Removal Of Material 2025

Market Size for Machine-Tools For Working Any Material By Removal Of Material in Western Africa

The West African machine-tool for removing material market expanded to $X in 2021, rising by 1.5% against the previous year. In general, consumption, however, recorded measured growth. As a result, consumption reached the peak level of $X. From 2016 to 2021, the growth of the market failed to regain momentum.

Production of Machine-Tools For Working Any Material By Removal Of Material in Western Africa

In value terms, machine-tool for removing material production totaled $X in 2021 estimated in export price. Over the period under review, production recorded a perceptible expansion. The most prominent rate of growth was recorded in 2016 when the production volume increased by 85%. The level of production peaked at $X in 2019; however, from 2020 to 2021, production remained at a lower figure.

Exports of Machine-Tools For Working Any Material By Removal Of Material

Exports in Western Africa

In 2021, after two years of decline, there was significant growth in overseas shipments of machine-tools for working any material by removal of material, when their volume increased by 200% to X units. Overall, exports, however, recorded a precipitous descent. Over the period under review, the exports hit record highs at X units in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

In value terms, machine-tool for removing material exports soared to $X in 2021. In general, exports, however, recorded a abrupt downturn. The pace of growth was the most pronounced in 2018 with an increase of 39%. As a result, the exports reached the peak of $X. From 2019 to 2021, the growth of the exports failed to regain momentum.

Exports by Country

In 2021, Nigeria (X units) was the main exporter of machine-tools for working any material by removal of material, creating 67% of total exports. It was distantly followed by Ghana (X units), generating a 33% share of total exports.

From 2012 to 2021, the biggest increases were recorded for Ghana (with a CAGR of -7.4%).

In value terms, Nigeria ($X) remains the largest machine-tool for removing material supplier in Western Africa, comprising 59% of total exports. The second position in the ranking was taken by Ghana ($X), with a 23% share of total exports.

In Nigeria, machine-tool for removing material exports declined by an average annual rate of -19.6% over the period from 2012-2021.

Export Prices by Country

In 2021, the export price in Western Africa amounted to $X per unit, reducing by -55.1% against the previous year. Overall, the export price, however, showed tangible growth. The pace of growth was the most pronounced in 2013 when the export price increased by 113%. Over the period under review, the export prices attained the maximum at $X per unit in 2015; however, from 2016 to 2021, the export prices failed to regain momentum.

Average prices varied somewhat amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was Nigeria ($X per unit), while Ghana amounted to $X per unit.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Nigeria (+5.4%).

Imports of Machine-Tools For Working Any Material By Removal Of Material

Imports in Western Africa

In 2021, overseas purchases of machine-tools for working any material by removal of material decreased by -35.4% to X units for the first time since 2018, thus ending a two-year rising trend. Overall, imports, however, recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2015 when imports increased by 3,939%. As a result, imports reached the peak of X units. From 2016 to 2021, the growth of imports failed to regain momentum.

In value terms, machine-tool for removing material imports stood at $X in 2021. Over the period under review, imports, however, posted strong growth. The growth pace was the most rapid in 2019 when imports increased by 124% against the previous year. Over the period under review, imports hit record highs in 2021 and are expected to retain growth in the near future.

Imports by Country

In 2021, Ghana (X units) and Mali (X units) represented the main importers of machine-tools for working any material by removal of material in Western Africa, together constituting 43% of total imports. Senegal (X units) ranks next in terms of the total imports with a 10% share, followed by Gambia (8.7%), Guinea (8.6%), Cote d'Ivoire (6.7%), Togo (5.9%), Mauritania (5.7%) and Nigeria (5.5%).

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by Mali (with a CAGR of +55.6%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Nigeria ($X), Ghana ($X) and Cote d'Ivoire ($X) were the countries with the highest levels of imports in 2021, together comprising 79% of total imports. Mali, Senegal, Guinea, Mauritania, Togo and Gambia lagged somewhat behind, together comprising a further 18%.

Mali, with a CAGR of +80.9%, saw the highest growth rate of the value of imports, in terms of the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the import price in Western Africa amounted to $X per unit, jumping by 61% against the previous year. In general, the import price saw resilient growth. The pace of growth was the most pronounced in 2016 an increase of 1,843% against the previous year. Over the period under review, import prices reached the peak figure at $X per unit in 2019; however, from 2020 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 ($X per unit), while Gambia ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Mauritania (+26.7%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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