Western Africa: Winche And Capstan Market 2024

Winche And Capstan Market Size in Western Africa

In 2021, the West African winche and capstan market increased by 2.7% to $X, rising for the second year in a row after two years of decline. Over the period under review, consumption, however, recorded a mild curtailment. Over the period under review, the market reached the peak level at $X in 2017; however, from 2018 to 2021, consumption failed to regain momentum.

Winche And Capstan Production in Western Africa

In value terms, winche and capstan production dropped to $X in 2021 estimated in export price. The total production indicated notable growth from 2012 to 2021: its value increased at an average annual rate of +2.8% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production increased by +13.6% against 2019 indices. The pace of growth was the most pronounced in 2014 when the production volume increased by 66% against the previous year. The level of production peaked at $X in 2017; however, from 2018 to 2021, production remained at a lower figure.

Winche And Capstan Exports

Exports in Western Africa

In 2021, exports of winches and capstans in Western Africa declined remarkably to X units, with a decrease of -91.8% against 2020. In general, exports, however, saw perceptible growth. The most prominent rate of growth was recorded in 2020 when exports increased by 863%. As a result, the exports reached the peak of X units, and then dropped sharply in the following year.

In value terms, winche and capstan exports shrank sharply to $X in 2021. Overall, exports, however, recorded a perceptible increase. The pace of growth was the most pronounced in 2020 when exports increased by 959%. As a result, the exports reached the peak of $X, and then shrank notably in the following year.

Exports by Country

Nigeria prevails in exports structure, accounting for X units, which was near 82% of total exports in 2021. It was distantly followed by Ghana (X units), creating an 8% share of total exports. Burkina Faso (X units), Niger (X units) and Senegal (X units) took a little share of total exports.

Exports from Nigeria increased at an average annual rate of +6.4% from 2012 to 2021. At the same time, Niger (+20.4%), Senegal (+15.9%) and Burkina Faso (+1.2%) displayed positive paces of growth. Moreover, Niger emerged as the fastest-growing exporter exported in Western Africa, with a CAGR of +20.4% from 2012-2021. By contrast, Ghana (-4.9%) illustrated a downward trend over the same period. Nigeria (+24 p.p.) and Niger (+2.1 p.p.) significantly strengthened its position in terms of the total exports, while Ghana saw its share reduced by -7.6% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Nigeria ($X) remains the largest winche and capstan supplier in Western Africa, comprising 66% of total exports. The second position in the ranking was held by Ghana ($X), with a 9.8% share of total exports. It was followed by Senegal, with a 2.3% share.

In Nigeria, winche and capstan exports increased at an average annual rate of +13.2% over the period from 2012-2021. In the other countries, the average annual rates were as follows: Ghana (+6.5% per year) and Senegal (+18.8% per year).

Export Prices by Country

In 2021, the export price in Western Africa amounted to $X per unit, picking up by 30% against the previous year. In general, the export price continues to indicate a mild expansion. The most prominent rate of growth was recorded in 2014 an increase of 72%. The level of export peaked in 2021 and is expected to retain growth in years to come.

There were significant differences in the average prices amongst the major exporting countries. In 2021, the country with the highest price was Senegal ($X per unit), while Niger ($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 (+11.9%), while the other leaders experienced more modest paces of growth.

Winche And Capstan Imports

Imports in Western Africa

After four years of growth, supplies from abroad of winches and capstans decreased by -57.6% to X units in 2021. Overall, imports, however, saw measured growth. The growth pace was the most rapid in 2018 when imports increased by 112% against the previous year. Over the period under review, imports hit record highs at X units in 2020, and then reduced sharply in the following year.

In value terms, winche and capstan imports contracted rapidly to $X in 2021. In general, imports recorded a mild downturn. The pace of growth was the most pronounced in 2018 with an increase of 89% against the previous year. The level of import peaked at $X in 2020, and then contracted sharply in the following year.

Imports by Country

In 2021, Nigeria (X units) represented the main importer of winches and capstans, constituting 63% of total imports. It was distantly followed by Ghana (X units) and Senegal (X units), together achieving a 26% share of total imports. The following importers - Cote d'Ivoire (X units), Mali (X units) and Mauritania (X units) - each recorded a 7% share of total imports.

From 2012 to 2021, average annual rates of growth with regard to winche and capstan imports into Nigeria stood at +6.0%. At the same time, Senegal (+14.4%) and Mauritania (+10.1%) displayed positive paces of growth. Moreover, Senegal emerged as the fastest-growing importer imported in Western Africa, with a CAGR of +14.4% from 2012-2021. Ghana and Mali experienced a relatively flat trend pattern. By contrast, Cote d'Ivoire (-6.1%) illustrated a downward trend over the same period. While the share of Nigeria (+11 p.p.) and Senegal (+2.8 p.p.) increased significantly in terms of the total imports from 2012-2021, the share of Cote d'Ivoire (-3.7 p.p.) and Ghana (-7.8 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Nigeria ($X), Ghana ($X) and Mauritania ($X) were the countries with the highest levels of imports in 2021, together accounting for 73% of total imports. These countries were followed by Cote d'Ivoire, Senegal and Mali, which together accounted for a further 13%.

Senegal, with a CAGR of +19.7%, saw the highest rates of growth with regard to 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

The import price in Western Africa stood at $X per unit in 2021, jumping by 37% against the previous year. In general, the import price, however, recorded a pronounced downturn. Over the period under review, import prices reached the peak figure at $X per unit in 2012; however, from 2013 to 2021, import prices remained at a 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 ($X per unit), while Nigeria ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Mali (+12.9%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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