ECOWAS: Market for Continuous-Action Elevators And Conveyors 2024

Market Size for Continuous-Action Elevators And Conveyors in ECOWAS

The ECOWAS continuous-action elevators and conveyors market reduced to $X in 2023, declining by X% against the previous year. Overall, consumption saw a strong expansion. As a result, consumption attained the peak level of $X. From 2021 to 2023, the growth of the market remained at a lower figure.

Production of Continuous-Action Elevators And Conveyors in ECOWAS

In value terms, continuous-action elevators and conveyors production dropped slightly to $X in 2023 estimated in export price. Overall, production recorded a buoyant expansion. The most prominent rate of growth was recorded in 2020 with an increase of X%. As a result, production reached the peak level of $X. From 2021 to 2023, production growth remained at a somewhat lower figure.

Exports of Continuous-Action Elevators And Conveyors

Exports in ECOWAS

In 2023, the amount of continuous-action elevators and conveyors exported in ECOWAS soared to X units, picking up by X% compared with the year before. In general, exports showed a mild expansion. The pace of growth appeared the most rapid in 2021 when exports increased by X%. As a result, the exports reached the peak of X units. From 2022 to 2023, the growth of the exports failed to regain momentum.

In value terms, continuous-action elevators and conveyors exports surged to $X in 2023. Overall, exports, however, continue to indicate a deep reduction. The growth pace was the most rapid in 2021 when exports increased by X% against the previous year. The level of export peaked at $X in 2012; however, from 2013 to 2023, the exports stood at a somewhat lower figure.

Exports by Country

In 2023, Cote d'Ivoire (X units) represented the major exporter of continuous-action elevators and conveyors, generating X% of total exports. Sierra Leone (X units) held the second position in the ranking, distantly followed by Ghana (X units). All these countries together took near X% share of total exports. Burkina Faso (X units), Mali (X units), Senegal (X units) and Gambia (X units) followed a long way behind the leaders.

From 2012 to 2023, the biggest increases were recorded for Burkina Faso (with a CAGR of X%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Gambia ($X), Cote d'Ivoire ($X) and Burkina Faso ($X) constituted the countries with the highest levels of exports in 2023, together accounting for X% of total exports.

Gambia, with a CAGR of X%, saw the highest growth rate of the value of exports, in terms of the main exporting countries over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The export price in ECOWAS stood at $X per unit in 2023, growing by X% against the previous year. In general, the export price, however, continues to indicate a abrupt setback. The pace of growth appeared the most rapid in 2020 when the export price increased by X%. The level of export peaked at $X per unit in 2014; however, from 2015 to 2023, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2023, amid the top suppliers, the country with the highest price was Gambia ($X per unit), while Sierra Leone ($X per unit) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Gambia (X%), while the other leaders experienced a decline in the export price figures.

Imports of Continuous-Action Elevators And Conveyors

Imports in ECOWAS

In 2023, overseas purchases of continuous-action elevators and conveyors increased by X% to X units, rising for the third consecutive year after two years of decline. Overall, imports continue to indicate a strong increase. The growth pace was the most rapid in 2018 with an increase of X% against the previous year. As a result, imports reached the peak of X units. From 2019 to 2023, the growth of imports failed to regain momentum.

In value terms, continuous-action elevators and conveyors imports skyrocketed to $X in 2023. Total imports indicated noticeable growth from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, imports increased by X% against 2020 indices. The growth pace was the most rapid in 2021 with an increase of X% against the previous year. The level of import peaked at $X in 2019; however, from 2020 to 2023, imports stood at a somewhat lower figure.

Imports by Country

In 2023, Liberia (X units), distantly followed by Senegal (X units), Cote d'Ivoire (X units), Ghana (X units), Nigeria (X units), Burkina Faso (X units) and Guinea (X units) represented the largest importers of continuous-action elevators and conveyors, together committing X% of total imports.

From 2012 to 2023, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by Ghana (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Nigeria ($X) constitutes the largest market for imported continuous-action elevators and conveyors in ECOWAS, comprising X% of total imports. The second position in the ranking was taken by Ghana ($X), with a X% share of total imports. It was followed by Cote d'Ivoire, with an X% share.

From 2012 to 2023, the average annual rate of growth in terms of value in Nigeria totaled X%. In the other countries, the average annual rates were as follows: Ghana (X% per year) and Cote d'Ivoire (X% per year).

Import Prices by Country

The import price in ECOWAS stood at $X per unit in 2023, increasing by X% against the previous year. Over the period under review, the import price, however, continues to indicate a abrupt setback. The growth pace was the most rapid in 2019 an increase of X% against the previous year. Over the period under review, import prices hit record highs at $X per unit in 2012; however, from 2013 to 2023, 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 Nigeria ($X per unit), while Liberia ($X per unit) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Guinea (X%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform