Western Africa: Overhead Travelling Crane Market 2024

Overhead Travelling Crane Market Size in Western Africa

The West African overhead travelling crane market rose modestly to $X in 2022, increasing by 4% against the previous year. Overall, consumption showed noticeable growth. As a result, consumption attained the peak level of $X. From 2016 to 2022, the growth of the market remained at a lower figure.

Overhead Travelling Crane Production in Western Africa

In value terms, overhead travelling crane production stood at $X in 2022 estimated in export price. The total output value increased at an average annual rate of +2.4% from 2012 to 2022; however, the trend pattern remained relatively stable, with only minor fluctuations in certain years. The most prominent rate of growth was recorded in 2015 when the production volume increased by 12%. Over the period under review, production hit record highs at $X in 2016; however, from 2017 to 2022, production remained at a lower figure.

Overhead Travelling Crane Exports

Exports in Western Africa

In 2022, after two years of growth, there was decline in shipments abroad of overhead travelling cranes on fixed support, when their volume decreased by 0% to X units. Over the period under review, exports saw a abrupt descent. The pace of growth was the most pronounced in 2015 with an increase of 12,650%. As a result, the exports attained the peak of X units. From 2016 to 2022, the growth of the exports failed to regain momentum.

In value terms, overhead travelling crane exports surged to $X in 2022. Overall, exports continue to indicate a significant curtailment. The most prominent rate of growth was recorded in 2016 when exports increased by 4,616% against the previous year. Over the period under review, the exports attained the peak figure at $X in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

The biggest shipments were from Nigeria (X units), together finishing at 100% of total export.

Nigeria experienced a relatively flat trend pattern with regard to volume of exports of overhead travelling cranes on fixed support. From 2012 to 2022, the share of Nigeria increased by +89 percentage points, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Nigeria ($X) also remains the largest overhead travelling crane supplier in Western Africa.

From 2012 to 2022, the average annual growth rate of value in Nigeria stood at -4.4%.

Export Prices by Country

The export price in Western Africa stood at $X per unit in 2022, jumping by 21% against the previous year. Overall, the export price, however, continues to indicate a deep downturn. The pace of growth was the most pronounced in 2015 an increase of 11,036%. Over the period under review, the export prices hit record highs at $X per unit in 2013; however, from 2014 to 2022, the export prices failed to regain momentum.

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

From 2012 to 2022, the rate of growth in terms of prices for Nigeria amounted to -4.4% per year.

Overhead Travelling Crane Imports

Imports in Western Africa

In 2022, after two years of decline, there was growth in supplies from abroad of overhead travelling cranes on fixed support, when their volume increased by 3% to X units. Overall, imports saw a pronounced increase. The pace of growth appeared the most rapid in 2015 with an increase of 3,634%. As a result, imports attained the peak of X units. From 2016 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, overhead travelling crane imports fell modestly to $X in 2022. Over the period under review, imports showed a mild expansion. The pace of growth appeared the most rapid in 2019 with an increase of 149%. As a result, imports reached the peak of $X. From 2020 to 2022, the growth of imports remained at a somewhat lower figure.

Imports by Country

In 2022, Nigeria (X units) represented the largest importer of overhead travelling cranes on fixed support, committing 52% of total imports. It was distantly followed by Ghana (X units), Cote d'Ivoire (X units) and Burkina Faso (X units), together generating a 29% share of total imports. Senegal (X units), Liberia (X units) and Togo (X units) followed a long way behind the leaders.

Imports into Nigeria increased at an average annual rate of +7.1% from 2012 to 2022. At the same time, Cote d'Ivoire (+26.6%), Togo (+24.6%), Burkina Faso (+18.6%), Senegal (+7.6%) and Ghana (+4.2%) displayed positive paces of growth. Moreover, Cote d'Ivoire emerged as the fastest-growing importer imported in Western Africa, with a CAGR of +26.6% from 2012-2022. By contrast, Liberia (-4.5%) illustrated a downward trend over the same period. While the share of Nigeria (+15 p.p.), Cote d'Ivoire (+8.9 p.p.), Burkina Faso (+3.4 p.p.) and Togo (+2.1 p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Liberia (-3.2 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Nigeria ($X) constitutes the largest market for imported overhead travelling cranes on fixed support in Western Africa, comprising 48% of total imports. The second position in the ranking was held by Ghana ($X), with a 14% share of total imports. It was followed by Cote d'Ivoire, with a 13% share.

In Nigeria, overhead travelling crane imports remained relatively stable over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: Ghana (-2.1% per year) and Cote d'Ivoire (+54.5% per year).

Import Prices by Country

The import price in Western Africa stood at $X per unit in 2022, falling by -5.2% against the previous year. Over the period under review, the import price recorded a slight contraction. The most prominent rate of growth was recorded in 2016 an increase of 1,193% against the previous year. The level of import peaked at $X per unit in 2013; however, from 2014 to 2022, import prices remained at a lower figure.

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 Senegal ($X per unit), while Liberia ($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 (+22.1%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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