Western Africa: Oil Dispensing Pump Market 2024

Oil Dispensing Pump Market Size in Western Africa

The West African oil dispensing pump market stood at $X in 2021, flattening at the previous year. In general, consumption, however, saw a relatively flat trend pattern. As a result, consumption attained the peak level of $X. From 2020 to 2021, the growth of the market remained at a lower figure.

Oil Dispensing Pump Production in Western Africa

In value terms, oil dispensing pump production fell significantly to $X in 2021 estimated in export price. Over the period under review, production, however, saw significant growth. The pace of growth appeared the most rapid in 2013 with an increase of 2,744% against the previous year. As a result, production reached the peak level of $X. From 2014 to 2021, production growth remained at a somewhat lower figure.

Oil Dispensing Pump Exports

Exports in Western Africa

In 2021, shipments abroad of petrol and oil dispensing pumps increased by 75% to X units for the first time since 2018, thus ending a two-year declining trend. In general, exports enjoyed a prominent expansion. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, oil dispensing pump exports surged to $X in 2021. Overall, exports saw a prominent increase. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

Senegal was the largest exporting country with an export of around X units, which amounted to 74% of total exports. Cote d'Ivoire (X units) ranks second in terms of the total exports with an 11% share, followed by Ghana (8.4%). Burkina Faso (X units) held a little share of total exports.

From 2012 to 2021, average annual rates of growth with regard to oil dispensing pump exports from Senegal stood at +9.4%. At the same time, Burkina Faso (+30.5%), Cote d'Ivoire (+20.4%) and Ghana (+19.2%) displayed positive paces of growth. Moreover, Burkina Faso emerged as the fastest-growing exporter exported in Western Africa, with a CAGR of +30.5% from 2012-2021. While the share of Cote d'Ivoire (+6.5 p.p.), Ghana (+4.4 p.p.) and Burkina Faso (+1.9 p.p.) increased significantly in terms of the total exports from 2012-2021, the share of Senegal (-1.5 p.p.) displayed negative dynamics.

In value terms, Senegal ($X) remains the largest oil dispensing pump supplier in Western Africa, comprising 88% of total exports. The second position in the ranking was taken by Cote d'Ivoire ($X), with a 5.3% share of total exports. It was followed by Ghana, with a 4.3% share.

In Senegal, oil dispensing pump exports expanded at an average annual rate of +8.2% over the period from 2012-2021. In the other countries, the average annual rates were as follows: Cote d'Ivoire (+16.4% per year) and Ghana (+2.3% per year).

Export Prices by Country

The export price in Western Africa stood at $X per unit in 2021, surging by 14% against the previous year. In general, the export price, however, showed a noticeable decrease. The most prominent rate of growth was recorded in 2015 an increase of 31%. The level of export peaked at $X per unit in 2013; however, from 2014 to 2021, the export prices remained at a lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2021, the country with the highest price was Senegal ($X per unit), while Burkina Faso ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Burkina Faso (-0.4%), while the other leaders experienced a decline in the export price figures.

Oil Dispensing Pump Imports

Imports in Western Africa

In 2021, supplies from abroad of petrol and oil dispensing pumps decreased by -8.8% to X units, falling for the second year in a row after two years of growth. Overall, imports saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2019 with an increase of 57%. As a result, imports reached the peak of X units. From 2020 to 2021, the growth of imports failed to regain momentum.

In value terms, oil dispensing pump imports expanded remarkably to $X in 2021. In general, imports, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 when imports increased by 30% against the previous year. The level of import peaked at $X in 2014; however, from 2015 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, Nigeria (X units) represented the main importer of petrol and oil dispensing pumps, constituting 65% of total imports. Ghana (X units) ranks second in terms of the total imports with a 14% share, followed by Burkina Faso (6.7%) and Senegal (4.9%). Cote d'Ivoire (X units) and Benin (X units) followed a long way behind the leaders.

From 2012 to 2021, average annual rates of growth with regard to oil dispensing pump imports into Nigeria stood at -2.2%. At the same time, Burkina Faso (+8.4%), Senegal (+5.2%), Ghana (+4.8%) and Benin (+2.7%) displayed positive paces of growth. Moreover, Burkina Faso emerged as the fastest-growing importer imported in Western Africa, with a CAGR of +8.4% from 2012-2021. Cote d'Ivoire experienced a relatively flat trend pattern. From 2012 to 2021, the share of Ghana, Burkina Faso and Senegal increased by +5.2, +3.6 and +1.9 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest oil dispensing pump importing markets in Western Africa were Ghana ($X), Nigeria ($X) and Senegal ($X), with a combined 67% share of total imports.

Senegal, with a CAGR of +10.7%, recorded the highest growth rate of the value of imports, among the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the import price in Western Africa amounted to $X per unit, with an increase of 18% against the previous year. In general, the import price showed a relatively flat trend pattern. The growth pace was the most rapid in 2013 an increase of 33%. Over the period under review, import prices reached the maximum at $X per unit in 2015; however, from 2016 to 2021, import prices stood at a somewhat lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Senegal (+5.3%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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