Western Africa: Market for Non-Numerically Controlled Sharpening Machines For Working Metal 2024

Market Size for Non-Numerically Controlled Sharpening Machines For Working Metal in Western Africa

The West African non-numerically controlled sharpening machine market expanded notably to $X in 2022, with an increase of 8.7% against the previous year. Overall, consumption recorded resilient growth. As a result, consumption attained the peak level of $X. From 2021 to 2022, the growth of the market remained at a somewhat lower figure.

Production of Non-Numerically Controlled Sharpening Machines For Working Metal in Western Africa

In value terms, non-numerically controlled sharpening machine production expanded rapidly to $X in 2022 estimated in export price. In general, production showed a remarkable increase. The most prominent rate of growth was recorded in 2018 with an increase of 53%. Over the period under review, production attained the maximum level at $X in 2020; however, from 2021 to 2022, production failed to regain momentum.

Exports of Non-Numerically Controlled Sharpening Machines For Working Metal

Exports in Western Africa

Non-numerically controlled sharpening machine exports surged to X units in 2022, growing by 350% compared with 2021 figures. Overall, exports, however, saw a abrupt shrinkage. The pace of growth appeared the most rapid in 2019 when exports increased by 575% against the previous year. Over the period under review, the exports attained the peak figure at X units in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

In value terms, non-numerically controlled sharpening machine exports skyrocketed to $X in 2022. Over the period under review, exports enjoyed prominent growth. The most prominent rate of growth was recorded in 2015 with an increase of 1,316%. As a result, the exports attained the peak of $X. From 2016 to 2022, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Sierra Leone represented the main exporter of non-numerically controlled sharpening machines for working metal in Western Africa, with the volume of exports amounting to X units, which was near 56% of total exports in 2022. Nigeria (X units) ranks second in terms of the total exports with a 28% share, followed by Senegal (11%) and Guinea (5.6%).

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the key exporting countries, was attained by Sierra Leone (with a CAGR of +29.2%), while the other leaders experienced mixed trends in the exports figures.

In value terms, Sierra Leone ($X) emerged as the largest non-numerically controlled sharpening machine supplier in Western Africa, comprising 61% of total exports. The second position in the ranking was held by Senegal ($X), with a 1.2% share of total exports. It was followed by Nigeria, with a 0.3% share.

From 2012 to 2022, the average annual growth rate of value in Sierra Leone amounted to +60.0%. In the other countries, the average annual rates were as follows: Senegal (-23.8% per year) and Nigeria (-35.0% per year).

Export Prices by Country

The export price in Western Africa stood at $X per unit in 2022, reducing by -46% against the previous year. Overall, the export price, however, showed a significant expansion. The most prominent rate of growth was recorded in 2015 when the export price increased by 1,741%. As a result, the export price attained the peak level of $X per unit. From 2016 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 Sierra Leone ($X per unit), while Guinea ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Sierra Leone (+23.9%), while the other leaders experienced a decline in the export price figures.

Imports of Non-Numerically Controlled Sharpening Machines For Working Metal

Imports in Western Africa

In 2022, non-numerically controlled sharpening machine imports in Western Africa dropped notably to X units, falling by -23.5% on the previous year's figure. Overall, imports, however, showed significant growth. The pace of growth was the most pronounced in 2014 with an increase of 678% against the previous year. Over the period under review, imports attained the peak figure at X units in 2020; however, from 2021 to 2022, imports stood at a somewhat lower figure.

In value terms, non-numerically controlled sharpening machine imports contracted notably to $X in 2022. Over the period under review, imports, however, posted a buoyant expansion. The growth pace was the most rapid in 2014 with an increase of 138%. Over the period under review, imports attained the peak figure at $X in 2020; however, from 2021 to 2022, imports remained at a lower figure.

Imports by Country

Nigeria prevails in imports structure, amounting to X units, which was near 84% of total imports in 2022. It was distantly followed by Gambia (X units), constituting a 5.9% share of total imports. Ghana (X units) followed a long way behind the leaders.

Nigeria was also the fastest-growing in terms of the non-numerically controlled sharpening machines for working metal imports, with a CAGR of +46.2% from 2012 to 2022. At the same time, Gambia (+44.1%) displayed positive paces of growth. Ghana experienced a relatively flat trend pattern. Nigeria (+61 p.p.) and Gambia (+4.1 p.p.) significantly strengthened its position in terms of the total imports, while Ghana saw its share reduced by -35.2% from 2012 to 2022, respectively.

In value terms, Nigeria ($X) constitutes the largest market for imported non-numerically controlled sharpening machines for working metal in Western Africa, comprising 64% of total imports. The second position in the ranking was held by Ghana ($X), with a 19% share of total imports.

From 2012 to 2022, the average annual growth rate of value in Nigeria stood at +36.0%. The remaining importing countries recorded the following average annual rates of imports growth: Ghana (-0.7% per year) and Gambia (+39.6% per year).

Import Prices by Country

In 2022, the import price in Western Africa amounted to $X per unit, waning by -29.1% against the previous year. In general, the import price saw a deep downturn. The most prominent rate of growth was recorded in 2019 when the import price increased by 56%. The level of import peaked 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 Ghana ($X per unit), while Gambia ($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 (-0.1%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :