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Report Western Africa - Machines for Balancing Mechanical Parts - Market Analysis, Forecast, Size, Trends and Insights for 499$
Report Update Nov 1, 2024

Western Africa - Machines for Balancing Mechanical Parts - Market Analysis, Forecast, Size, Trends and Insights

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Western Africa: Market for Machines For Balancing Mechanical Parts 2024

Market Size for Machines For Balancing Mechanical Parts in Western Africa

The West African balancing mechanical parts machine market skyrocketed to $X in 2021, increasing by 278% against the previous year. Over the period under review, consumption enjoyed a significant increase. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Production of Machines For Balancing Mechanical Parts in Western Africa

In value terms, balancing mechanical parts machine production expanded slightly to $X in 2021 estimated in export price. The total production indicated noticeable growth from 2012 to 2021: its value increased at an average annual rate of +2.2% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production decreased by -34.0% against 2016 indices. The growth pace was the most rapid in 2016 with an increase of 72%. As a result, production attained the peak level of $X. From 2017 to 2021, production growth failed to regain momentum.

Exports of Machines For Balancing Mechanical Parts

Exports in Western Africa

In 2021, shipments abroad of machines for balancing mechanical parts decreased by -56.7% to X units, falling for the sixth consecutive year after four years of growth. Over the period under review, exports saw a pronounced downturn. The pace of growth appeared the most rapid in 2014 with an increase of 213%. The volume of export peaked at X units in 2015; however, from 2016 to 2021, the exports failed to regain momentum.

In value terms, balancing mechanical parts machine exports contracted rapidly to $X in 2021. Overall, exports continue to indicate a abrupt downturn. The pace of growth was the most pronounced in 2013 with an increase of 67%. Over the period under review, the exports attained the peak figure at $X in 2016; however, from 2017 to 2021, the exports failed to regain momentum.

Exports by Country

Nigeria (X units) and Cote d'Ivoire (X units) represented roughly 90% of total exports in 2021. It was distantly followed by Senegal (X units), committing a 10% share of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the key exporting countries, was attained by Cote d'Ivoire (with a CAGR of +1.0%), while the other leaders experienced a decline in the exports figures.

In value terms, the largest balancing mechanical parts machine supplying countries in Western Africa were Nigeria ($X), Cote d'Ivoire ($X) and Senegal ($X), with a combined 92% share of total exports.

In terms of the main exporting countries, Nigeria, with a CAGR of +3.9%, 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 mixed trends in the exports figures.

Export Prices by Country

The export price in Western Africa stood at $X per unit in 2021, surging by 56% against the previous year. In general, the export price, however, saw a pronounced reduction. The growth pace was the most rapid in 2016 an increase of 60%. The level of export peaked at $X per unit in 2013; however, from 2014 to 2021, the export prices failed to regain momentum.

Prices varied noticeably country of origin: the country with the highest price was Nigeria ($X per unit), while Senegal ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Nigeria (+4.6%), while the other leaders experienced mixed trends in the export price figures.

Imports of Machines For Balancing Mechanical Parts

Imports in Western Africa

In 2021, purchases abroad of machines for balancing mechanical parts increased by 482% to X units, rising for the fourth year in a row after two years of decline. Over the period under review, imports enjoyed a significant expansion. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, balancing mechanical parts machine imports surged to $X in 2021. In general, imports enjoyed a significant expansion. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

The purchases of the one major importers of machines for balancing mechanical parts, namely Nigeria, represented more than two-thirds of total import.

Nigeria was also the fastest-growing in terms of the machines for balancing mechanical parts imports, with a CAGR of +66.8% from 2012 to 2021. Nigeria (+23 p.p.) significantly strengthened its position in terms of the total imports, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Nigeria ($X) constitutes the largest market for imported machines for balancing mechanical parts in Western Africa.

From 2012 to 2021, the average annual growth rate of value in Nigeria amounted to +48.1%.

Import Prices by Country

The import price in Western Africa stood at $X per unit in 2021, shrinking by -33.7% against the previous year. Overall, the import price faced a abrupt decrease. The most prominent rate of growth was recorded in 2017 when the import price increased by 17%. Over the period under review, import prices attained the maximum at $X per unit in 2013; however, from 2014 to 2021, import prices remained at a lower figure.

As there is only one major supplying country, the average price level is determined by prices for Nigeria.

From 2012 to 2021, the rate of growth in terms of prices for Nigeria amounted to -11.2% per year.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

The countries with the highest volumes of in 2021 were Togo, Ghana and Nigeria, with a combined 90% share of total consumption.
The country with the largest volume of balancing mechanical parts machine production was Togo, comprising approx. 100% of total volume.
In value terms, Cote d'Ivoire, Nigeria and Senegal constituted the countries with the highest levels of exports in 2021, with a combined 79% share of total exports.
In value terms, Nigeria constitutes the largest market for imported machines for balancing mechanical parts in Western Africa, comprising 63% of total imports. The second position in the ranking was occupied by Ghana, with a 12% share of total imports. It was followed by Senegal, with a 4.3% share.
The export price in Western Africa stood at $440 per unit in 2021, growing by 28% against the previous year.
The import price in Western Africa stood at $122 per unit in 2021, jumping by 36% against the previous year.

This report provides an in-depth analysis of the market for balancing mechanical parts machine in Western Africa. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

  • Prodcom 28993970 - Machines for balancing mechanical parts

Country coverage:

  • Benin
  • Burkina Faso
  • Cabo Verde
  • Gambia
  • Ghana
  • Guinea
  • Guinea-Bissau
  • Liberia
  • Mali
  • Mauritania
  • Niger
  • Nigeria
  • Saint Helena, Ascension and Tristan da Cunha
  • Senegal
  • Sierra Leone
  • Togo
  • Cote d'Ivoire

Data coverage:

  • Market volume and value
  • Per Capita consumption
  • Forecast of the market dynamics in the medium term
  • Production in Western Africa, split by region and country
  • Trade (exports and imports) in Western Africa
  • Export and import prices
  • Market trends, drivers and restraints
  • Key market players and their profiles

Reasons to buy this report:

  • Take advantage of the latest data
  • Find deeper insights into current market developments
  • Discover vital success factors affecting the market

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

  1. How to diversify your business and benefit from new market opportunities
  2. How to load your idle production capacity
  3. How to boost your sales on overseas markets
  4. How to increase your profit margins
  5. How to make your supply chain more sustainable
  6. How to reduce your production and supply chain costs
  7. How to outsource production to other countries
  8. How to prepare your business for global expansion

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

  1. 1. INTRODUCTION

    Making Data-Driven Decisions to Grow Your Business

    1. REPORT DESCRIPTION
    2. RESEARCH METHODOLOGY AND AI PLATFORM
    3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
    4. GLOSSARY AND SPECIFIC TERMS

  2. 2. EXECUTIVE SUMMARY

    A Quick Overview of Market Performance

    1. KEY FINDINGS
    2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO

  3. 3. MARKET OVERVIEW

    Understanding the Current State of The Market and Its Prospects

    1. MARKET SIZE
    2. CONSUMPTION BY COUNTRY
    3. MARKET FORECAST TO 2030

  4. 4. MOST PROMISING PRODUCT

    Finding New Products to Diversify Your Business

    This Chapter is Available Only for the Professional Edition PRO
    1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
    2. BEST-SELLING PRODUCTS
    3. MOST CONSUMED PRODUCT
    4. MOST TRADED PRODUCT
    5. MOST PROFITABLE PRODUCT FOR EXPORT

  5. 5. MOST PROMISING SUPPLYING COUNTRIES

    Choosing the Best Countries to Establish Your Sustainable Supply Chain

    This Chapter is Available Only for the Professional Edition PRO
    1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
    2. TOP PRODUCING COUNTRIES
    3. TOP EXPORTING COUNTRIES
    4. LOW-COST EXPORTING COUNTRIES

  6. 6. MOST PROMISING OVERSEAS MARKETS

    Choosing the Best Countries to Boost Your Exports

    This Chapter is Available Only for the Professional Edition PRO
    1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
    2. TOP CONSUMING MARKETS
    3. UNSATURATED MARKETS
    4. TOP IMPORTING MARKETS
    5. MOST PROFITABLE MARKETS

  7. 7. PRODUCTION

    The Latest Trends and Insights into The Industry

    1. PRODUCTION VOLUME AND VALUE
    2. PRODUCTION BY COUNTRY

  8. 8. IMPORTS

    The Largest Importers on The Market and How They Succeed

    1. IMPORTS FROM 2012–2023
    2. IMPORTS BY COUNTRY
    3. IMPORT PRICES BY COUNTRY

  9. 9. EXPORTS

    The Largest Exporters on The Market and How They Succeed

    1. EXPORTS FROM 2012–2023
    2. EXPORTS BY COUNTRY
    3. EXPORT PRICES BY COUNTRY

  10. 10. PROFILES OF MAJOR PRODUCERS

    The Largest Producers on The Market and Their Profiles

    This Chapter is Available Only for the Professional Edition PRO

  11. 11. COUNTRY PROFILES

    The Largest Markets And Their Profiles

    This Chapter is Available Only for the Professional Edition PRO
    • Benin
    • Burkina Faso
    • Cabo Verde
    • Gambia
    • Ghana
    • Guinea
    • Guinea-Bissau
    • Liberia
    • Mali
    • Mauritania
    • Niger
    • Nigeria
    • Saint Helena, Ascension and Tristan da Cunha
    • Senegal
    • Sierra Leone
    • Togo
    • Cote d'Ivoire

  12. LIST OF TABLES

    1. Key Findings In 2023
    2. Market Volume, In Physical Terms, 2012–2023
    3. Market Value, 2012–2023
    4. Per Capita Consumption, By Country, 2018–2023
    5. Production, In Physical Terms, By Country, 2012–2023
    6. Imports, In Physical Terms, By Country, 2012–2023
    7. Imports, In Value Terms, By Country, 2012–2023
    8. Import Prices, By Country Of Destination, 2012–2023
    9. Exports, In Physical Terms, By Country, 2012–2023
    10. Exports, In Value Terms, By Country, 2012–2023
    11. Export Prices, By Country Of Origin, 2012–2023

  13. LIST OF FIGURES

    1. Market Volume, In Physical Terms, 2012–2023
    2. Market Value, 2012–2023
    3. Consumption, By Country, 2023
    4. Market Volume Forecast to 2030
    5. Market Value Forecast to 2030
    6. Products: Market Size And Growth, By Type
    7. Products: Average Per Capita Consumption, By Type
    8. Products: Exports And Growth, By Type
    9. Products: Export Prices And Growth, By Type
    10. Production Volume And Growth
    11. Exports And Growth
    12. Export Prices And Growth
    13. Market Size And Growth
    14. Per Capita Consumption
    15. Imports And Growth
    16. Import Prices
    17. Production, In Physical Terms, 2012–2023
    18. Production, In Value Terms, 2012–2023
    19. Production, By Country, 2023
    20. Production, In Physical Terms, By Country, 2012–2023
    21. Imports, In Physical Terms, 2012–2023
    22. Imports, In Value Terms, 2012–2023
    23. Imports, In Physical Terms, By Country, 2023
    24. Imports, In Physical Terms, By Country, 2012–2023
    25. Imports, In Value Terms, By Country, 2012–2023
    26. Import Prices, By Country, 2012–2023
    27. Exports, In Physical Terms, 2012–2023
    28. Exports, In Value Terms, 2012–2023
    29. Exports, In Physical Terms, By Country, 2023
    30. Exports, In Physical Terms, By Country, 2012–2023
    31. Exports, In Value Terms, By Country, 2012–2023
    32. Export Prices, 2012–2023

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