Western Africa: Wheeled Loader Market 2024

Wheeled Loader Market Size in Western Africa

In 2021, the West African wheeled loader market increased by 2.4% to $X, rising for the fifth consecutive year after four years of decline. The total consumption indicated a modest expansion from 2012 to 2021: its value increased at an average annual rate of +1.8% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +85.5% against 2016 indices. The level of consumption peaked in 2021 and is likely to see steady growth in years to come.

Wheeled Loader Production in Western Africa

In value terms, wheeled loader production dropped dramatically to $X in 2021 estimated in export price. Overall, production, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 with an increase of 50% against the previous year. As a result, production reached the peak level of $X, and then declined markedly in the following year.

Wheeled Loader Exports

Exports in Western Africa

In 2021, the amount of wheeled loaders, crawler shovel loaders, front-end loaders exported in Western Africa soared to X units, rising by 64% against the previous year. Overall, exports, however, showed a noticeable slump. The volume of export peaked at X units in 2013; however, from 2014 to 2021, the exports failed to regain momentum.

In value terms, wheeled loader exports surged to $X in 2021. In general, exports recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2017 when exports increased by 78%. The level of export peaked at $X in 2013; however, from 2014 to 2021, the exports failed to regain momentum.

Exports by Country

In 2021, Burkina Faso (X units) was the largest exporter of wheeled loaders, crawler shovel loaders, front-end loaders, making up 50% of total exports. Senegal (X units) ranks second in terms of the total exports with a 20% share, followed by Cote d'Ivoire (6.3%). The following exporters - Guinea (X units), Niger (X units), Sierra Leone (X units), Gambia (X units), Mali (X units), Cabo Verde (X units), Benin (X units), Nigeria (X units) and Togo (X units) - together made up 22% of total exports.

Exports from Burkina Faso increased at an average annual rate of +8.3% from 2012 to 2021. At the same time, Guinea (+27.7%), Gambia (+22.0%), Cabo Verde (+16.7%), Nigeria (+8.0%) and Senegal (+6.8%) displayed positive paces of growth. Moreover, Guinea emerged as the fastest-growing exporter exported in Western Africa, with a CAGR of +27.7% from 2012-2021. By contrast, Cote d'Ivoire (-8.7%), Niger (-12.2%), Sierra Leone (-13.6%), Benin (-15.4%), Mali (-20.8%) and Togo (-24.8%) illustrated a downward trend over the same period. While the share of Burkina Faso (+31 p.p.), Senegal (+11 p.p.), Guinea (+3.4 p.p.) and Gambia (+2.2 p.p.) increased significantly in terms of the total exports from 2012-2021, the share of Benin (-4.3 p.p.), Cote d'Ivoire (-5 p.p.), Sierra Leone (-5.7 p.p.), Niger (-5.8 p.p.), Mali (-11.5 p.p.) and Togo (-15.5 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Burkina Faso ($X) emerged as the largest wheeled loader supplier in Western Africa, comprising 48% of total exports. The second position in the ranking was taken by Senegal ($X), with a 21% share of total exports. It was followed by Cote d'Ivoire, with an 8.2% share.

In Burkina Faso, wheeled loader exports expanded at an average annual rate of +7.6% over the period from 2012-2021. The remaining exporting countries recorded the following average annual rates of exports growth: Senegal (+8.3% per year) and Cote d'Ivoire (-6.2% per year).

Export Prices by Country

The export price in Western Africa stood at $X per unit in 2021, dropping by -2.4% against the previous year. Over the last nine years, it increased at an average annual rate of +2.7%. The growth pace was the most rapid in 2020 an increase of 20% against the previous year. As a result, the export price attained the peak level of $X per unit, and then shrank modestly 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 Togo ($X per unit), while Cabo Verde ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Sierra Leone (+35.4%), while the other leaders experienced more modest paces of growth.

Wheeled Loader Imports

Imports in Western Africa

In 2021, approx. X units of wheeled loaders, crawler shovel loaders, front-end loaders were imported in Western Africa; jumping by 20% on 2020. Total imports indicated a measured increase from 2012 to 2021: its volume increased at an average annual rate of +3.7% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +88.0% against 2016 indices. The most prominent rate of growth was recorded in 2019 with an increase of 32% against the previous year. The volume of import peaked in 2021 and is likely to continue growth in years to come.

In value terms, wheeled loader imports rose rapidly to $X in 2021. Total imports indicated a pronounced expansion from 2012 to 2021: its value increased at an average annual rate of +3.2% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +115.2% against 2016 indices. The most prominent rate of growth was recorded in 2017 when imports increased by 41%. The level of import peaked in 2021 and is expected to retain growth in the near future.

Imports by Country

In 2021, Cote d'Ivoire (X units), Nigeria (X units), Guinea (X units), Senegal (X units), Burkina Faso (X units), Mali (X units), Liberia (X units), Ghana (X units), Togo (X units), Sierra Leone (X units), Benin (X units) and Niger (X units) was the key importer of wheeled loaders, crawler shovel loaders, front-end loaders in Western Africa, committing 96% of total import.

From 2012 to 2021, the biggest increases were recorded for Cote d'Ivoire (with a CAGR of +19.6%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest wheeled loader importing markets in Western Africa were Ghana ($X), Nigeria ($X) and Cote d'Ivoire ($X), together comprising 52% of total imports. These countries were followed by Guinea, Senegal, Mali, Burkina Faso, Togo, Liberia, Sierra Leone, Benin and Niger, which together accounted for a further 45%.

Mali, with a CAGR of +12.5%, saw the highest growth rate of the value of imports, among 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 -7.3% against the previous year. Overall, the import price saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 an increase of 19% against the previous year. The level of import peaked at $X per unit in 2020, and then reduced in the following year.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Ghana ($X per unit), while Cote d'Ivoire ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Ghana (+22.3%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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