ECOWAS - Household Hand Tools - Market Analysis, Forecast, Size, Trends and Insights
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View PricingECOWAS: Household Hand Tools Market 2024
Household Hand Tools Market Size in ECOWAS
In 2023, the ECOWAS household hand tools market decreased by X% to $X for the first time since 2017, thus ending a five-year rising trend. Over the period under review, consumption recorded resilient growth. Over the period under review, the market hit record highs at $X in 2022, and then fell in the following year.
Household Hand Tools Production in ECOWAS
In value terms, household hand tools production expanded to $X in 2023 estimated in export price. In general, production posted strong growth. The growth pace was the most rapid in 2018 when the production volume increased by X%. Over the period under review, production attained the maximum level at $X in 2021; however, from 2022 to 2023, production remained at a lower figure.
Household Hand Tools Exports
Exports in ECOWAS
In 2023, the amount of household hand tools exported in ECOWAS surged to X tons, growing by X% on 2022. Over the period under review, exports, however, saw a abrupt decline. The most prominent rate of growth was recorded in 2014 with an increase of X% against the previous year. As a result, the exports reached the peak of X tons. From 2015 to 2023, the growth of the exports remained at a lower figure.
In value terms, household hand tools exports soared to $X in 2023. In general, exports, however, faced a abrupt slump. The pace of growth appeared the most rapid in 2021 with an increase of X% against the previous year. The level of export peaked at $X in 2012; however, from 2013 to 2023, the exports stood at a somewhat lower figure.
Exports by Country
Ghana (X tons) and Nigeria (X tons) prevails in exports structure, together making up X% of total exports. The following exporters - Senegal (X kg), Niger (X kg) and Sierra Leone (X kg) - together made up X% of total exports.
From 2012 to 2023, the most notable rate of growth in terms of shipments, amongst the main exporting countries, was attained by Senegal (with a CAGR of X%), while the other leaders experienced mixed trends in the exports figures.
In value terms, the largest household hand tools supplying countries in ECOWAS were Nigeria ($X), Ghana ($X) and Senegal ($X), together comprising X% of total exports. Sierra Leone and Niger lagged somewhat behind, together comprising a further X%.
Sierra Leone, 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 mixed trends in the exports figures.
Export Prices by Country
In 2023, the export price in ECOWAS amounted to $X per ton, falling by X% against the previous year. Over the period under review, the export price, however, saw prominent growth. The pace of growth was the most pronounced in 2016 an increase of X% against the previous year. The level of export peaked at $X per ton in 2022, and then shrank dramatically in the following year.
There were significant differences in the average prices amongst the major exporting countries. In 2023, amid the top suppliers, the country with the highest price was Nigeria ($X per ton), while Ghana ($X per ton) was amongst the lowest.
From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Nigeria (X%), while the other leaders experienced more modest paces of growth.
Household Hand Tools Imports
Imports in ECOWAS
In 2023, after two years of decline, there was growth in supplies from abroad of household hand tools, when their volume increased by X% to X tons. Overall, imports, however, showed a deep reduction. The pace of growth appeared the most rapid in 2020 with an increase of X%. Over the period under review, imports reached the peak figure at X tons in 2012; however, from 2013 to 2023, imports remained at a lower figure.
In value terms, household hand tools imports shrank to $X in 2023. Over the period under review, imports, however, showed a pronounced decline. The most prominent rate of growth was recorded in 2014 when imports increased by X%. As a result, imports attained the peak of $X. From 2015 to 2023, the growth of imports remained at a lower figure.
Imports by Country
Nigeria prevails in imports structure, recording X tons, which was near X% of total imports in 2023. Ghana (X tons) held a X% share (based on physical terms) of total imports, which put it in second place, followed by Senegal (X%), Togo (X%) and Benin (X%). Cote d'Ivoire (X tons), Guinea (X tons) and Liberia (X tons) held a little share of total imports.
From 2012 to 2023, average annual rates of growth with regard to household hand tools imports into Nigeria stood at X%. At the same time, Senegal (X%), Benin (X%) and Liberia (X%) displayed positive paces of growth. Moreover, Senegal emerged as the fastest-growing importer imported in ECOWAS, with a CAGR of X% from 2012-2023. By contrast, Togo (X%), Guinea (X%), Cote d'Ivoire (X%) and Ghana (X%) illustrated a downward trend over the same period. Nigeria (X p.p.), Senegal (X p.p.), Benin (X p.p.) and Togo (X p.p.) significantly strengthened its position in terms of the total imports, while Ghana saw its share reduced by X% from 2012 to 2023, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.
In value terms, the largest household hand tools importing markets in ECOWAS were Senegal ($X), Nigeria ($X) and Togo ($X), with a combined X% share of total imports.
Senegal, with a CAGR of X%, recorded 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
In 2023, the import price in ECOWAS amounted to $X per ton, reducing by X% against the previous year. Import price indicated a measured expansion from 2012 to 2023: its price increased at an average annual rate of X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, household hand tools import price increased by X% against 2020 indices. The growth pace was the most rapid in 2013 when the import price increased by X%. Over the period under review, import prices hit record highs at $X per ton in 2015; however, from 2016 to 2023, import prices failed to regain momentum.
There were significant differences in the average prices amongst the major importing countries. In 2023, amid the top importers, the country with the highest price was Guinea ($X per ton), while Nigeria ($X per ton) was amongst the lowest.
From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Liberia (X%), while the other leaders experienced more modest paces of growth.
Source: IndexBox Platform
This report provides an in-depth analysis of the household hand tools market in ECOWAS. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.
Product coverage:
- Prodcom 25733065 - Household hand tools
Country coverage:
- Benin
- Burkina Faso
- Cabo Verde
- Cote d'Ivoire
- Gambia
- Ghana
- Guinea
- Guinea-Bissau
- Liberia
- Mali
- Niger
- Nigeria
- Senegal
- Sierra Leone
- Togo
Data coverage:
- Market volume and value
- Per Capita consumption
- Forecast of the market dynamics in the medium term
- Production in ECOWAS, split by region and country
- Trade (exports and imports) in ECOWAS
- Export and import prices
- Market trends, drivers and restraints
- Key market players and their profiles
Reasons to buy this report:
- Take advantage of the latest data
- Find deeper insights into current market developments
- Discover vital success factors affecting the market
This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.
In this report, you can find information that helps you to make informed decisions on the following issues:
- How to diversify your business and benefit from new market opportunities
- How to load your idle production capacity
- How to boost your sales on overseas markets
- How to increase your profit margins
- How to make your supply chain more sustainable
- How to reduce your production and supply chain costs
- How to outsource production to other countries
- How to prepare your business for global expansion
While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.
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1. INTRODUCTION
Making Data-Driven Decisions to Grow Your Business
- REPORT DESCRIPTION
- RESEARCH METHODOLOGY AND AI PLATFORM
- DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
- GLOSSARY AND SPECIFIC TERMS
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2. EXECUTIVE SUMMARY
A Quick Overview of Market Performance
- KEY FINDINGS
- MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
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3. MARKET OVERVIEW
Understanding the Current State of The Market and Its Prospects
- MARKET SIZE
- CONSUMPTION BY COUNTRY
- MARKET FORECAST TO 2030
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4. MOST PROMISING PRODUCT
Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO- TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
- BEST-SELLING PRODUCTS
- MOST CONSUMED PRODUCT
- MOST TRADED PRODUCT
- MOST PROFITABLE PRODUCT FOR EXPORT
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5. MOST PROMISING SUPPLYING COUNTRIES
Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO- TOP COUNTRIES TO SOURCE YOUR PRODUCT
- TOP PRODUCING COUNTRIES
- TOP EXPORTING COUNTRIES
- LOW-COST EXPORTING COUNTRIES
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6. MOST PROMISING OVERSEAS MARKETS
Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO- TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
- TOP CONSUMING MARKETS
- UNSATURATED MARKETS
- TOP IMPORTING MARKETS
- MOST PROFITABLE MARKETS
7. PRODUCTION
The Latest Trends and Insights into The Industry
- PRODUCTION VOLUME AND VALUE
- PRODUCTION BY COUNTRY
8. IMPORTS
The Largest Importers on The Market and How They Succeed
- IMPORTS FROM 2012–2023
- IMPORTS BY COUNTRY
- IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Exporters on The Market and How They Succeed
- EXPORTS FROM 2012–2023
- EXPORTS BY COUNTRY
- EXPORT PRICES BY COUNTRY
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10. PROFILES OF MAJOR PRODUCERS
The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO -
11. COUNTRY PROFILES
The Largest Markets And Their Profiles
This Chapter is Available Only for the Professional Edition PRO- Benin
- Burkina Faso
- Cabo Verde
- Gambia
- Ghana
- Guinea
- Guinea-Bissau
- Liberia
- Mali
- Niger
- Nigeria
- Senegal
- Sierra Leone
- Togo
- Cote d'Ivoire
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LIST OF TABLES
- Key Findings In 2023
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Per Capita Consumption, By Country, 2018–2023
- Production, In Physical Terms, By Country, 2012–2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Destination, 2012–2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Origin, 2012–2023
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LIST OF FIGURES
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Consumption, By Country, 2023
- Market Volume Forecast to 2030
- Market Value Forecast to 2030
- Products: Market Size And Growth, By Type
- Products: Average Per Capita Consumption, By Type
- Products: Exports And Growth, By Type
- Products: Export Prices And Growth, By Type
- Production Volume And Growth
- Exports And Growth
- Export Prices And Growth
- Market Size And Growth
- Per Capita Consumption
- Imports And Growth
- Import Prices
- Production, In Physical Terms, 2012–2023
- Production, In Value Terms, 2012–2023
- Production, By Country, 2023
- Production, In Physical Terms, By Country, 2012–2023
- Imports, In Physical Terms, 2012–2023
- Imports, In Value Terms, 2012–2023
- Imports, In Physical Terms, By Country, 2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country, 2012–2023
- Exports, In Physical Terms, 2012–2023
- Exports, In Value Terms, 2012–2023
- Exports, In Physical Terms, By Country, 2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, 2012–2023
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