Western Africa: Tamping Machinery Market 2024

Tamping Machinery Market Size in Western Africa

The West African tamping machinery market contracted notably to $X in 2021, declining by -24.1% against the previous year. The total consumption indicated a noticeable expansion from 2012 to 2021: its value increased at an average annual rate of +2.9% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +6.7% against 2019 indices. As a result, consumption attained the peak level of $X, and then dropped sharply in the following year.

Tamping Machinery Production in Western Africa

In value terms, tamping machinery production fell slightly to $X in 2021 estimated in export price. The total production indicated slight growth from 2012 to 2021: its value increased at an average annual rate of +1.7% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production decreased by +0.8% against 2019 indices. The growth pace was the most rapid in 2014 with an increase of 31% against the previous year. The level of production peaked at $X in 2018; however, from 2019 to 2021, production stood at a somewhat lower figure.

Tamping Machinery Exports

Exports in Western Africa

In 2021, overseas shipments of tamping or compacting machinery were finally on the rise to reach X units for the first time since 2018, thus ending a two-year declining trend. Over the period under review, exports, however, continue to indicate a deep reduction. The most prominent rate of growth was recorded in 2018 when exports increased by 96%. The volume of export peaked at X units in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

In value terms, tamping machinery exports surged to $X in 2021. In general, exports, however, saw a abrupt setback. The most prominent rate of growth was recorded in 2018 when exports increased by 789%. As a result, the exports attained the peak of $X. From 2019 to 2021, the growth of the exports failed to regain momentum.

Exports by Country

In 2021, Sierra Leone (X units) was the major exporter of tamping or compacting machinery, mixing up 40% of total exports. It was distantly followed by Ghana (X units), Burkina Faso (X units), Cote d'Ivoire (X units) and Senegal (X units), together mixing up a 50% share of total exports. Mali (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 tamping machinery exports from Sierra Leone stood at -3.7%. At the same time, Senegal (+14.9%) and Cote d'Ivoire (+9.9%) displayed positive paces of growth. Moreover, Senegal emerged as the fastest-growing exporter exported in Western Africa, with a CAGR of +14.9% from 2012-2021. By contrast, Burkina Faso (-8.4%), Ghana (-8.7%), Benin (-20.6%) and Mali (-30.4%) illustrated a downward trend over the same period. Sierra Leone (+40 p.p.), Senegal (+8.8 p.p.) and Cote d'Ivoire (+8.1 p.p.) significantly strengthened its position in terms of the total exports, while Benin and Mali saw its share reduced by -7.1% and -44.5% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Sierra Leone ($X) emerged as the largest tamping machinery supplier in Western Africa, comprising 38% of total exports. The second position in the ranking was held by Ghana ($X), with a 16% share of total exports. It was followed by Burkina Faso, with a 12% share.

From 2012 to 2021, the average annual growth rate of value in Sierra Leone totaled +5.5%. In the other countries, the average annual rates were as follows: Ghana (-8.1% per year) and Burkina Faso (-9.4% per year).

Export Prices by Country

The export price in Western Africa stood at $X per unit in 2021, surging by 25% against the previous year. Overall, the export price showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 when the export price increased by 353%. As a result, the export price attained the peak level of $X per unit. From 2019 to 2021, the export prices remained at a somewhat lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Sierra Leone (+9.6%), while the other leaders experienced more modest paces of growth.

Tamping Machinery Imports

Imports in Western Africa

In 2021, purchases abroad of tamping or compacting machinery decreased by -48.2% to X units for the first time since 2018, thus ending a two-year rising trend. Over the period under review, imports, however, recorded notable growth. The pace of growth was the most pronounced in 2014 with an increase of 126%. Over the period under review, imports reached the maximum at X units in 2020, and then reduced sharply in the following year.

In value terms, tamping machinery imports reduced markedly to $X in 2021. In general, imports showed a slight descent. The most prominent rate of growth was recorded in 2020 when imports increased by 151% against the previous year. As a result, imports attained the peak of $X, and then fell dramatically in the following year.

Imports by Country

Nigeria (X units) and Ghana (X units) dominates imports structure, together comprising 71% of total imports. Cote d'Ivoire (X units) held a 5.9% share (based on physical terms) of total imports, which put it in second place, followed by Burkina Faso (5.3%). Senegal (X units), Gambia (X units), Guinea (X units), Benin (X units) and Mali (X units) followed a long way behind the leaders.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by Cote d'Ivoire (with a CAGR of +48.2%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Nigeria ($X) constitutes the largest market for imported tamping or compacting machinery in Western Africa, comprising 48% of total imports. The second position in the ranking was held by Ghana ($X), with a 16% share of total imports. It was followed by Cote d'Ivoire, with a 9.9% share.

In Nigeria, tamping machinery imports expanded at an average annual rate of +1.8% over the period from 2012-2021. In the other countries, the average annual rates were as follows: Ghana (-8.9% per year) and Cote d'Ivoire (+23.5% per year).

Import Prices by Country

In 2021, the import price in Western Africa amounted to $X per unit, reducing by -33.6% against the previous year. Over the period under review, the import price showed a drastic downturn. The growth pace was the most rapid in 2016 when the import price increased by 25% against the previous year. Over the period under review, import prices reached the maximum at $X per unit in 2018; however, from 2019 to 2021, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2021, amid the top importers, the country with the highest price was Senegal ($X per unit), while Gambia ($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 (+1.4%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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