Western Africa: Self-Propelled Boring Machinery Market 2024

Self-Propelled Boring Machinery Market Size in Western Africa

In 2022, the West African self-propelled boring machinery market decreased by -0.9% to $X, falling for the second consecutive year after four years of growth. Over the period under review, consumption saw a resilient increase. As a result, consumption attained the peak level of $X. From 2021 to 2022, the growth of the market remained at a lower figure.

Self-Propelled Boring Machinery Production in Western Africa

In value terms, self-propelled boring machinery production contracted markedly to $X in 2022 estimated in export price. Overall, production recorded a perceptible curtailment. The most prominent rate of growth was recorded in 2019 with an increase of 429% against the previous year. As a result, production reached the peak level of $X. From 2020 to 2022, production growth remained at a somewhat lower figure.

Self-Propelled Boring Machinery Exports

Exports in Western Africa

In 2022, the amount of self-propelled boring or sinking machinery exported in Western Africa fell to X units, declining by -12.2% on the previous year's figure. Overall, exports saw a mild contraction. The pace of growth appeared the most rapid in 2021 when exports increased by 75% against the previous year. Over the period under review, the exports reached the peak figure at X units in 2017; however, from 2018 to 2022, the exports failed to regain momentum.

In value terms, self-propelled boring machinery exports reduced to $X in 2022. In general, exports saw a perceptible reduction. The pace of growth appeared the most rapid in 2016 when exports increased by 74%. The level of export peaked at $X in 2017; however, from 2018 to 2022, the exports remained at a lower figure.

Exports by Country

In 2022, Burkina Faso (X units), distantly followed by Senegal (X units), Niger (X units), Mali (X units), Ghana (X units), Benin (X units) and Cote d'Ivoire (X units) were the key exporters of self-propelled boring or sinking machinery, together generating 95% of total exports.

From 2012 to 2022, the biggest increases were recorded for Niger (with a CAGR of +44.4%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Burkina Faso ($X) remains the largest self-propelled boring machinery supplier in Western Africa, comprising 33% of total exports. The second position in the ranking was held by Senegal ($X), with a 14% share of total exports. It was followed by Niger, with a 14% share.

From 2012 to 2022, the average annual rate of growth in terms of value in Burkina Faso amounted to -9.9%. The remaining exporting countries recorded the following average annual rates of exports growth: Senegal (+23.0% per year) and Niger (+55.4% per year).

Export Prices by Country

In 2022, the export price in Western Africa amounted to $X per unit, therefore, remained relatively stable against the previous year. In general, the export price recorded a slight downturn. The growth pace was the most rapid in 2017 an increase of 30% against the previous year. Over the period under review, the export prices attained the peak figure at $X per unit in 2013; however, from 2014 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Mali ($X per unit), while Ghana ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Senegal (+10.2%), while the other leaders experienced more modest paces of growth.

Self-Propelled Boring Machinery Imports

Imports in Western Africa

In 2022, the amount of self-propelled boring or sinking machinery imported in Western Africa reached X units, surging by 4.1% compared with the previous year. In general, imports recorded a remarkable increase. The most prominent rate of growth was recorded in 2020 when imports increased by 156% against the previous year. As a result, imports reached the peak of X units. From 2021 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, self-propelled boring machinery imports declined to $X in 2022. Over the period under review, imports enjoyed a remarkable increase. The most prominent rate of growth was recorded in 2020 when imports increased by 51%. The level of import peaked at $X in 2021, and then declined in the following year.

Imports by Country

Ghana was the major importer of self-propelled boring or sinking machinery in Western Africa, with the volume of imports finishing at X units, which was near 58% of total imports in 2022. Mali (X units) took the second position in the ranking, followed by Liberia (X units), Cote d'Ivoire (X units) and Guinea (X units). All these countries together took near 27% share of total imports. Senegal (X units) and Nigeria (X units) followed a long way behind the leaders.

Imports into Ghana increased at an average annual rate of +17.7% from 2012 to 2022. At the same time, Mali (+20.3%), Liberia (+19.8%), Senegal (+9.2%), Cote d'Ivoire (+8.4%) and Guinea (+2.8%) displayed positive paces of growth. Moreover, Mali emerged as the fastest-growing importer imported in Western Africa, with a CAGR of +20.3% from 2012-2022. By contrast, Nigeria (-6.5%) illustrated a downward trend over the same period. While the share of Ghana (+29 p.p.), Mali (+6 p.p.) and Liberia (+3.6 p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Guinea (-5 p.p.) and Nigeria (-13.8 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Ghana ($X) constitutes the largest market for imported self-propelled boring or sinking machinery in Western Africa, comprising 46% of total imports. The second position in the ranking was taken by Senegal ($X), with a 10% share of total imports. It was followed by Cote d'Ivoire, with a 10% share.

In Ghana, self-propelled boring machinery imports expanded at an average annual rate of +5.7% over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: Senegal (+14.9% per year) and Cote d'Ivoire (+10.5% per year).

Import Prices by Country

The import price in Western Africa stood at $X per unit in 2022, declining by -12.1% against the previous year. In general, the import price saw a perceptible curtailment. The pace of growth was the most pronounced in 2021 when the import price increased by 48% against the previous year. The level of import peaked at $X per unit in 2018; however, from 2019 to 2022, import prices stood at a somewhat 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 ($X per unit), while Ghana ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Guinea (+5.6%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :