Western Africa: Non-Household Fan Market 2024

Non-Household Fan Market Size in Western Africa

The West African non-household fan market rose remarkably to $X in 2022, surging by 7.2% against the previous year. The total consumption indicated a strong increase from 2012 to 2022: its value increased at an average annual rate of +7.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by -5.5% against 2019 indices. The level of consumption peaked at $X in 2019; however, from 2020 to 2022, consumption stood at a somewhat lower figure.

Non-Household Fan Production in Western Africa

In value terms, non-household fan production declined to $X in 2022 estimated in export price. The total production indicated a pronounced increase from 2012 to 2022: its value increased at an average annual rate of +4.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production increased by +1.4% against 2020 indices. The most prominent rate of growth was recorded in 2015 when the production volume increased by 56% against the previous year. The level of production peaked at $X in 2016; however, from 2017 to 2022, production remained at a lower figure.

Non-Household Fan Exports

Exports in Western Africa

In 2022, shipments abroad of non-household ventilation fans decreased by -26.3% to X units, falling for the second year in a row after three years of growth. In general, exports, however, recorded a resilient expansion. The growth pace was the most rapid in 2016 when exports increased by 139%. The volume of export peaked at X units in 2020; however, from 2021 to 2022, the exports failed to regain momentum.

In value terms, non-household fan exports dropped to $X in 2022. Over the period under review, exports, however, showed a resilient expansion. The growth pace was the most rapid in 2016 with an increase of 193%. Over the period under review, the exports hit record highs at $X in 2021, and then declined in the following year.

Exports by Country

In 2022, Ghana (X units), distantly followed by Nigeria (X units), Sierra Leone (X units) and Niger (X units) represented the key exporters of non-household ventilation fans, together comprising 88% of total exports. The following exporters - Liberia (X units) and Cabo Verde (X units) - together made up 7.2% of total exports.

From 2012 to 2022, the biggest increases were recorded for Niger (with a CAGR of +60.5%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Nigeria ($X) remains the largest non-household fan supplier in Western Africa, comprising 45% of total exports. The second position in the ranking was held by Ghana ($X), with a 22% share of total exports. It was followed by Sierra Leone, with a 22% share.

From 2012 to 2022, the average annual growth rate of value in Nigeria stood at +15.9%. The remaining exporting countries recorded the following average annual rates of exports growth: Ghana (+38.4% per year) and Sierra Leone (+17.9% per year).

Export Prices by Country

In 2022, the export price in Western Africa amounted to $X per unit, surging by 16% against the previous year. In general, the export price, however, recorded a pronounced shrinkage. The pace of growth was the most pronounced in 2014 when the export price increased by 50%. Over the period under review, the export prices reached the peak figure at $X per unit in 2017; however, from 2018 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Nigeria ($X per unit), while Niger ($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 (+6.6%), while the other leaders experienced more modest paces of growth.

Non-Household Fan Imports

Imports in Western Africa

In 2022, after two years of decline, there was significant growth in purchases abroad of non-household ventilation fans, when their volume increased by 43% to X units. In general, imports saw strong growth. The most prominent rate of growth was recorded in 2019 when imports increased by 201% against the previous year. The volume of import peaked in 2022 and is likely to see gradual growth in the immediate term.

In value terms, non-household fan imports totaled $X in 2022. Over the period under review, imports saw a buoyant expansion. The most prominent rate of growth was recorded in 2019 with an increase of 90%. As a result, imports attained the peak of $X. From 2020 to 2022, the growth of imports remained at a lower figure.

Imports by Country

In 2022, Nigeria (X units) represented the major importer of non-household ventilation fans, constituting 62% of total imports. It was distantly followed by Ghana (X units) and Senegal (X units), together achieving a 22% share of total imports. Burkina Faso (X units), Togo (X units), Cote d'Ivoire (X units) and Liberia (X units) followed a long way behind the leaders.

Imports into Nigeria increased at an average annual rate of +18.8% from 2012 to 2022. At the same time, Senegal (+27.1%), Liberia (+26.4%), Ghana (+16.9%), Cote d'Ivoire (+14.5%) and Burkina Faso (+6.5%) displayed positive paces of growth. Moreover, Senegal emerged as the fastest-growing importer imported in Western Africa, with a CAGR of +27.1% from 2012-2022. By contrast, Togo (-8.0%) illustrated a downward trend over the same period. While the share of Nigeria (+21 p.p.), Senegal (+5.1 p.p.) and Ghana (+3 p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Burkina Faso (-4.4 p.p.) and Togo (-22.5 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Nigeria ($X) constitutes the largest market for imported non-household ventilation fans in Western Africa, comprising 44% of total imports. The second position in the ranking was taken by Senegal ($X), with a 13% share of total imports. It was followed by Ghana, with a 12% share.

In Nigeria, non-household fan imports increased at an average annual rate of +7.9% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Senegal (+20.6% per year) and Ghana (+7.7% per year).

Import Prices by Country

In 2022, the import price in Western Africa amounted to $X per unit, waning by -21.9% against the previous year. Over the period under review, the import price recorded a abrupt downturn. The pace of growth was the most pronounced in 2016 an increase of 33%. The level of import peaked at $X per unit in 2018; however, from 2019 to 2022, import prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Cote d'Ivoire ($X per unit), while Togo ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Togo (+11.2%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform