Western Africa: Pumps For Liquids Market 2024

Pumps For Liquids Market Size in Western Africa

For the seventh consecutive year, the West African pumps for liquids market recorded growth in sales value, which increased by 3.4% to $X in 2022. In general, consumption showed a strong increase. Over the period under review, the market reached the maximum level in 2022 and is expected to retain growth in the near future.

Pumps For Liquids Production in Western Africa

In value terms, pumps for liquids production totaled $X in 2022 estimated in export price. Overall, production, however, recorded resilient growth. The most prominent rate of growth was recorded in 2017 when the production volume increased by 66%. Over the period under review, production attained the peak level at $X in 2020; however, from 2021 to 2022, production stood at a somewhat lower figure.

Pumps For Liquids Exports

Exports in Western Africa

In 2022, approx. X units of pumps for liquids were exported in Western Africa; picking up by 8.3% against 2021 figures. Overall, exports, however, showed a sharp descent. The growth pace was the most rapid in 2020 when exports increased by 86%. The volume of export peaked at X units in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

In value terms, pumps for liquids exports dropped significantly to $X in 2022. In general, exports, however, continue to indicate a mild reduction. The pace of growth was the most pronounced in 2013 with an increase of 187% against the previous year. As a result, the exports attained the peak of $X. From 2014 to 2022, the growth of the exports remained at a somewhat lower figure.

Exports by Country

In 2022, Burkina Faso (X units) was the major exporter of pumps for liquids, comprising 59% of total exports. Cote d'Ivoire (X units) took the second position in the ranking, followed by Nigeria (X units) and Ghana (X units). All these countries together took near 32% share of total exports. The following exporters - Sierra Leone (X units) and Senegal (X units) - together made up 4.6% of total exports.

Burkina Faso was also the fastest-growing in terms of the pumps for liquids exports, with a CAGR of +15.4% from 2012 to 2022. At the same time, Nigeria (+9.1%), Senegal (+4.1%), Ghana (+1.3%) and Cote d'Ivoire (+1.1%) displayed positive paces of growth. By contrast, Sierra Leone (-44.9%) illustrated a downward trend over the same period. While the share of Burkina Faso (+57 p.p.), Cote d'Ivoire (+13 p.p.), Nigeria (+9.2 p.p.), Ghana (+8.3 p.p.) and Senegal (+1.9 p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Sierra Leone (-92.5 p.p.) displayed negative dynamics.

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

In terms of the main exporting countries, Senegal, with a CAGR of +19.6%, 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

The export price in Western Africa stood at $X per unit in 2022, dropping by -25% against the previous year. Overall, the export price, however, continues to indicate significant growth. The pace of growth appeared the most rapid in 2013 when the export price increased by 577% against the previous year. The level of export peaked at $X per unit in 2019; however, from 2020 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Sierra Leone ($X per unit), while Burkina Faso ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Sierra Leone (+52.1%), while the other leaders experienced more modest paces of growth.

Pumps For Liquids Imports

Imports in Western Africa

For the seventh year in a row, Western Africa recorded growth in overseas purchases of pumps for liquids, which increased by 4% to X units in 2022. In general, imports recorded a significant expansion. The pace of growth was the most pronounced in 2019 when imports increased by 122%. Over the period under review, imports attained the maximum in 2022 and are expected to retain growth in the near future.

In value terms, pumps for liquids imports reached $X in 2022. Over the period under review, imports posted resilient growth. The most prominent rate of growth was recorded in 2019 when imports increased by 68%. Over the period under review, imports reached the maximum in 2022 and are likely to continue growth in the near future.

Imports by Country

Nigeria (X units), Ghana (X units), Senegal (X units) and Guinea (X units) represented roughly 78% of total imports in 2022. It was distantly followed by Cote d'Ivoire (X units), generating a 5.6% share of total imports. Mauritania (X units) and Mali (X units) followed a long way behind the leaders.

From 2012 to 2022, the biggest increases were recorded for Mali (with a CAGR of +52.8%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Nigeria ($X) constitutes the largest market for imported pumps for liquids in Western Africa, comprising 50% of total imports. The second position in the ranking was held by Ghana ($X), with a 15% share of total imports. It was followed by Cote d'Ivoire, with an 8.1% share.

In Nigeria, pumps for liquids imports expanded at an average annual rate of +17.6% over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: Ghana (+18.3% per year) and Cote d'Ivoire (+9.6% per year).

Import Prices by Country

In 2022, the import price in Western Africa amounted to $X per unit, with an increase of 9% against the previous year. In general, the import price, however, saw a perceptible reduction. The growth pace was the most rapid in 2015 when the import price increased by 32% against the previous year. As a result, import price attained the peak level of $X per unit. From 2016 to 2022, the import prices remained at a somewhat lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Nigeria (+0.8%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform