Western Africa: Silencer Market 2024

Silencer Market Size in Western Africa

In 2021, the West African silencer market decreased by -7.5% to $X for the first time since 2018, thus ending a two-year rising trend. Over the period under review, consumption, however, continues to indicate a prominent increase. Over the period under review, the market attained the peak level at $X in 2020, and then contracted in the following year.

Silencer Production in Western Africa

In value terms, silencer production shrank to $X in 2021 estimated in export price. In general, production, however, continues to indicate a buoyant expansion. The growth pace was the most rapid in 2016 with an increase of 36%. The level of production peaked at $X in 2020, and then fell in the following year.

Silencer Exports

Exports in Western Africa

In 2021, the amount of silencers and exhaust pipes exported in Western Africa totaled X tons, increasing by 2.5% compared with 2020. Over the period under review, exports, however, recorded a deep setback. The growth pace was the most rapid in 2020 with an increase of 250%. Over the period under review, the exports hit record highs at X tons in 2016; however, from 2017 to 2021, the exports remained at a lower figure.

In value terms, silencer exports fell modestly to $X in 2021. In general, exports, however, showed a perceptible contraction. The pace of growth was the most pronounced in 2020 when exports increased by 97%. The level of export peaked at $X in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

Exports by Country

Nigeria dominates exports structure, recording X tons, which was near 84% of total exports in 2021. It was distantly followed by Sierra Leone (X tons), achieving an 8.1% share of total exports. The following exporters - Ghana (X tons), Guinea (X tons) and Senegal (X tons) - each accounted for a 5.7% share of total exports.

From 2012 to 2021, average annual rates of growth with regard to silencer exports from Nigeria stood at -9.3%. At the same time, Sierra Leone (+34.5%), Ghana (+18.7%) and Guinea (+3.7%) displayed positive paces of growth. Moreover, Sierra Leone emerged as the fastest-growing exporter exported in Western Africa, with a CAGR of +34.5% from 2012-2021. By contrast, Senegal (-5.5%) illustrated a downward trend over the same period. Sierra Leone (+7.8 p.p.) and Ghana (+2.2 p.p.) significantly strengthened its position in terms of the total exports, while Nigeria saw its share reduced by -13.2% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Nigeria ($X) remains the largest silencer supplier in Western Africa, comprising 59% of total exports. The second position in the ranking was taken by Sierra Leone ($X), with a 24% share of total exports. It was followed by Senegal, with a 5.7% share.

From 2012 to 2021, the average annual rate of growth in terms of value in Nigeria amounted to -8.6%. In the other countries, the average annual rates were as follows: Sierra Leone (+21.7% per year) and Senegal (-1.3% per year).

Export Prices by Country

In 2021, the export price in Western Africa amounted to $X per ton, reducing by -5.2% against the previous year. In general, the export price, however, showed a tangible increase. The most prominent rate of growth was recorded in 2019 when the export price increased by 150% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2020 to 2021, the export prices failed to regain momentum.

Prices varied noticeably country of origin: the country with the highest price was Senegal ($X per ton), while Guinea ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Senegal (+4.4%), while the other leaders experienced mixed trends in the export price figures.

Silencer Imports

Imports in Western Africa

Silencer imports declined dramatically to X tons in 2021, dropping by -36% on the previous year's figure. Over the period under review, imports recorded a abrupt descent. The pace of growth was the most pronounced in 2020 when imports increased by 64%. The volume of import peaked at X tons in 2012; however, from 2013 to 2021, imports remained at a lower figure.

In value terms, silencer imports declined to $X in 2021. Overall, imports, however, continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 with an increase of 20%. The level of import peaked at $X in 2016; however, from 2017 to 2021, imports remained at a lower figure.

Imports by Country

Nigeria was the largest importing country with an import of about X tons, which accounted for 63% of total imports. It was distantly followed by Ghana (X tons) and Guinea (X tons), together mixing up a 24% share of total imports. The following importers - Senegal (X tons), Cote d'Ivoire (X tons) and Mauritania (X tons) - each reached a 5.8% share of total imports.

Imports into Nigeria decreased at an average annual rate of -5.0% from 2012 to 2021. At the same time, Mauritania (+26.4%), Cote d'Ivoire (+9.2%), Senegal (+5.3%) and Guinea (+4.6%) displayed positive paces of growth. Moreover, Mauritania emerged as the fastest-growing importer imported in Western Africa, with a CAGR of +26.4% from 2012-2021. By contrast, Ghana (-14.2%) illustrated a downward trend over the same period. Nigeria (+7.9 p.p.), Guinea (+5.2 p.p.), Cote d'Ivoire (+1.5 p.p.) and Mauritania (+1.5 p.p.) significantly strengthened its position in terms of the total imports, while Ghana saw its share reduced by -18.6% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Nigeria ($X) constitutes the largest market for imported silencers and exhaust pipes in Western Africa, comprising 49% of total imports. The second position in the ranking was taken by Ghana ($X), with an 18% share of total imports. It was followed by Guinea, with an 8.5% share.

From 2012 to 2021, the average annual growth rate of value in Nigeria stood at +1.1%. In the other countries, the average annual rates were as follows: Ghana (-6.2% per year) and Guinea (+8.5% per year).

Import Prices by Country

The import price in Western Africa stood at $X per ton in 2021, jumping by 40% against the previous year. Import price indicated a buoyant increase from 2012 to 2021: its price increased at an average annual rate of +7.0% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The level of import peaked at $X per ton in 2016; however, from 2017 to 2021, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2021, the country with the highest price was Mauritania ($X per ton), while Nigeria ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Ghana (+9.3%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :