Western Africa: Self-Propelled Excavating Machinery Market 2024

Self-Propelled Excavating Machinery Market Size in Western Africa

In 2021, after two years of growth, there was significant decline in the West African self-propelled excavating machinery market, when its value decreased by -17.1% to $X. Overall, consumption, however, continues to indicate a mild shrinkage. The level of consumption peaked at $X in 2020, and then declined rapidly in the following year.

Self-Propelled Excavating Machinery Production in Western Africa

In value terms, self-propelled excavating machinery production shrank to $X in 2021 estimated in export price. In general, production, however, recorded a perceptible contraction. The pace of growth was the most pronounced in 2015 when the production volume increased by 171% against the previous year. Over the period under review, production attained the maximum level at $X in 2016; however, from 2017 to 2021, production remained at a lower figure.

Self-Propelled Excavating Machinery Exports

Exports in Western Africa

In 2021, shipments abroad of self-propelled earth moving, excavating machinery increased by 109% to X units, rising for the third year in a row after two years of decline. Overall, exports, however, showed a abrupt curtailment. The most prominent rate of growth was recorded in 2014 when exports increased by 232%. Over the period under review, the exports reached the peak figure at X units in 2016; however, from 2017 to 2021, the exports remained at a lower figure.

In value terms, self-propelled excavating machinery exports fell dramatically to $X in 2021. Over the period under review, exports, however, recorded a perceptible decrease. The most prominent rate of growth was recorded in 2020 when exports increased by 495%. Over the period under review, the exports reached the peak figure at $X in 2016; however, from 2017 to 2021, the exports failed to regain momentum.

Exports by Country

Senegal represented the major exporter of self-propelled earth moving, excavating machinery in Western Africa, with the volume of exports reaching X units, which was approx. 74% of total exports in 2021. Burkina Faso (X units) ranks second in terms of the total exports with a 17% share, followed by Ghana (8.7%).

Senegal was also the fastest-growing in terms of the self-propelled earth moving, excavating machinery exports, with a CAGR of +6.1% from 2012 to 2021. At the same time, Burkina Faso (+3.2%) displayed positive paces of growth. By contrast, Ghana (-14.3%) illustrated a downward trend over the same period. While the share of Senegal (+50 p.p.) and Burkina Faso (+10 p.p.) increased significantly in terms of the total exports from 2012-2021, the share of Ghana (-10.8 p.p.) displayed negative dynamics.

In value terms, the largest self-propelled excavating machinery supplying countries in Western Africa were Senegal ($X), Burkina Faso ($X) and Ghana ($X), together accounting for 26% of total exports.

Senegal, with a CAGR of +5.8%, saw the highest growth rate of the value of exports, among the main exporting countries over the period under review, while shipments for the other leaders experienced mixed trends in the exports figures.

Export Prices by Country

The export price in Western Africa stood at $X per unit in 2021, waning by -80.5% against the previous year. In general, the export price, however, showed a pronounced expansion. The pace of growth was the most pronounced in 2020 when the export price increased by 441% against the previous year. As a result, the export price reached the peak level of $X per unit, and then plummeted in the following year.

There were significant differences in the average prices amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was Burkina Faso ($X per unit), while Ghana ($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 (-0.3%), while the other leaders experienced a decline in the export price figures.

Self-Propelled Excavating Machinery Imports

Imports in Western Africa

In 2021, the amount of self-propelled earth moving, excavating machinery imported in Western Africa skyrocketed to X units, surging by 95% compared with the year before. Overall, imports continue to indicate strong growth. The pace of growth was the most pronounced in 2016 when imports increased by 211%. As a result, imports reached the peak of X units. From 2017 to 2021, the growth of imports failed to regain momentum.

In value terms, self-propelled excavating machinery imports surged to $X in 2021. Over the period under review, imports continue to indicate resilient growth. The pace of growth appeared the most rapid in 2015 with an increase of 232%. As a result, imports reached the peak of $X. From 2016 to 2021, the growth of imports failed to regain momentum.

Imports by Country

Cabo Verde represented the main importing country with an import of around X units, which accounted for 43% of total imports. Guinea (X units) ranks second in terms of the total imports with a 17% share, followed by Nigeria (13%), Gambia (12%) and Benin (10%).

Cabo Verde was also the fastest-growing in terms of the self-propelled earth moving, excavating machinery imports, with a CAGR of +88.5% from 2012 to 2021. At the same time, Nigeria (+51.3%), Benin (+40.6%) and Guinea (+32.7%) displayed positive paces of growth. By contrast, Gambia (-7.4%) illustrated a downward trend over the same period. Cabo Verde (+43 p.p.), Guinea (+15 p.p.), Nigeria (+13 p.p.) and Benin (+9.2 p.p.) significantly strengthened its position in terms of the total imports, while Gambia saw its share reduced by -25.4% from 2012 to 2021, respectively.

In value terms, Guinea ($X), Nigeria ($X) and Gambia ($X) appeared to be the countries with the highest levels of imports in 2021, together comprising 86% of total imports. Benin and Cabo Verde lagged somewhat behind, together accounting for a further 0.8%.

Cabo Verde, with a CAGR of +97.5%, saw the highest rates of growth with regard to the value of imports, in terms of 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, waning by -38.9% against the previous year. In general, the import price, however, showed buoyant growth. The most prominent rate of growth was recorded in 2017 an increase of 486%. Over the period under review, import prices reached the maximum at $X per unit in 2015; however, from 2016 to 2021, import prices remained at a lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Gambia (+21.9%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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