Western Africa: Air Conditioning Machine Market 2024

Air Conditioning Machine Market Size in Western Africa

In 2022, the West African air conditioning machine market increased by 16% to $X, rising for the sixth consecutive year after three years of decline. In general, consumption showed a prominent increase. The level of consumption peaked in 2022 and is likely to continue growth in the near future.

Air Conditioning Machine Production in Western Africa

In value terms, air conditioning machine production rose modestly to $X in 2022 estimated in export price. Overall, production posted a resilient expansion. The pace of growth was the most pronounced in 2019 when the production volume increased by 84% against the previous year. Over the period under review, production reached the maximum level at $X in 2020; however, from 2021 to 2022, production failed to regain momentum.

Air Conditioning Machine Exports

Exports in Western Africa

In 2022, the amount of non-window or wall air conditioning machines exported in Western Africa dropped rapidly to X units, reducing by -57.8% against the previous year. Overall, exports recorded a abrupt contraction. The growth pace was the most rapid in 2021 when exports increased by 157%. The volume of export peaked at X units in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

In value terms, air conditioning machine exports shrank notably to $X in 2022. In general, exports saw a abrupt shrinkage. The most prominent rate of growth was recorded in 2019 with an increase of 683% against the previous year. As a result, the exports attained the peak of $X. From 2020 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

In 2022, Nigeria (X units), distantly followed by Senegal (X units), Burkina Faso (X units), Cote d'Ivoire (X units), Sierra Leone (X units) and Cabo Verde (X units) represented the largest exporters of non-window or wall air conditioning machines, together comprising 89% of total exports. Ghana (X units) followed a long way behind the leaders.

From 2012 to 2022, the biggest increases were recorded for Cabo Verde (with a CAGR of +30.2%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Senegal ($X), Nigeria ($X) and Cote d'Ivoire ($X) appeared to be the countries with the highest levels of exports in 2022, with a combined 62% share of total exports. Sierra Leone, Ghana, Cabo Verde and Burkina Faso lagged somewhat behind, together comprising a further 29%.

Among the main exporting countries, Cabo Verde, with a CAGR of +39.9%, recorded the highest growth rate of the value of exports, 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, waning by -39.2% against the previous year. Over the period under review, the export price, however, enjoyed a slight increase. The pace of growth appeared the most rapid in 2019 when the export price increased by 267% against the previous year. As a result, the export price attained the peak level of $X per unit. From 2020 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 Ghana ($X per unit), while Burkina Faso ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Cote d'Ivoire (+9.0%), while the other leaders experienced more modest paces of growth.

Air Conditioning Machine Imports

Imports in Western Africa

For the third year in a row, Western Africa recorded growth in overseas purchases of non-window or wall air conditioning machines, which increased by 27% to X units in 2022. In general, imports showed a buoyant increase. The pace of growth was the most pronounced in 2021 when imports increased by 54%. Over the period under review, imports hit record highs in 2022 and are likely to see steady growth in the near future.

In value terms, air conditioning machine imports surged to $X in 2022. Overall, imports saw a buoyant increase. The most prominent rate of growth was recorded in 2013 with an increase of 68% against the previous year. The level of import peaked in 2022 and is expected to retain growth in years to come.

Imports by Country

Nigeria dominates imports structure, amounting to X units, which was near 65% of total imports in 2022. Senegal (X units) ranks second in terms of the total imports with a 7.3% share, followed by Ghana (7.1%) and Cote d'Ivoire (6.8%). Togo (X units), Niger (X units) and Guinea (X units) followed a long way behind the leaders.

Nigeria was also the fastest-growing in terms of the non-window or wall air conditioning machines imports, with a CAGR of +16.8% from 2012 to 2022. At the same time, Senegal (+16.0%), Niger (+15.5%), Cote d'Ivoire (+11.9%) and Ghana (+9.7%) displayed positive paces of growth. By contrast, Guinea (-2.0%) and Togo (-6.2%) illustrated a downward trend over the same period. While the share of Nigeria (+25 p.p.) and Senegal (+2.5 p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Guinea (-4.4 p.p.) and Togo (-16.4 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Nigeria ($X) constitutes the largest market for imported non-window or wall air conditioning machines in Western Africa, comprising 59% of total imports. The second position in the ranking was taken by Cote d'Ivoire ($X), with an 11% share of total imports. It was followed by Ghana, with an 8.4% share.

From 2012 to 2022, the average annual growth rate of value in Nigeria stood at +13.9%. In the other countries, the average annual rates were as follows: Cote d'Ivoire (+6.8% per year) and Ghana (+6.8% per year).

Import Prices by Country

The import price in Western Africa stood at $X per unit in 2022, shrinking by -4.5% against the previous year. In general, the import price showed a slight curtailment. The most prominent rate of growth was recorded in 2013 an increase of 17% against the previous year. The level of import peaked at $X per unit in 2016; however, from 2017 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 Guinea ($X per unit), while Senegal ($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 (+14.0%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform