ECOWAS: Boiler Parts Market 2024

Boiler Parts Market Size in ECOWAS

The ECOWAS boiler parts market reached $X in 2022, increasing by X% against the previous year. The market value increased at an average annual rate of X% from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the market hit record highs at $X in 2020; however, from 2021 to 2022, consumption failed to regain momentum.

Boiler Parts Production in ECOWAS

In value terms, boiler parts production expanded slightly to $X in 2022 estimated in export price. The total output value increased at an average annual rate of X% over the period from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2017 when the production volume increased by X%. Over the period under review, production hit record highs at $X in 2020; however, from 2021 to 2022, production remained at a lower figure.

Boiler Parts Exports

Exports in ECOWAS

In 2022, after two years of decline, there was significant growth in shipments abroad of parts of boilers for central heating, when their volume increased by X% to X kg. In general, exports, however, showed a mild descent. The most prominent rate of growth was recorded in 2016 with an increase of X% against the previous year. As a result, the exports reached the peak of X tons. From 2017 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, boiler parts exports reduced sharply to $X in 2022. Over the period under review, exports, however, recorded a perceptible contraction. The most prominent rate of growth was recorded in 2016 with an increase of X% against the previous year. The level of export peaked at $X in 2021, and then plummeted in the following year.

Exports by Country

The shipments of the one major exporters of parts of boilers for central heating, namely Ghana, represented more than two-thirds of total export.

Ghana was also the fastest-growing in terms of the parts of boilers for central heating exports, with a CAGR of X% from 2012 to 2022. While the share of Ghana (X p.p.) increased significantly, the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Ghana ($X) also remains the largest boiler parts supplier in ECOWAS.

From 2012 to 2022, the average annual growth rate of value in Ghana stood at X%.

Export Prices by Country

In 2022, the export price in ECOWAS amounted to $X per ton, with a decrease of X% against the previous year. Overall, the export price recorded a relatively flat trend pattern. The growth pace was the most rapid in 2017 an increase of X% against the previous year. The level of export peaked at $X per ton in 2021, and then fell rapidly in the following year.

As there is only one major export destination, the average price level is determined by prices for Ghana.

From 2012 to 2022, the rate of growth in terms of prices for Ghana amounted to X% per year.

Boiler Parts Imports

Imports in ECOWAS

In 2022, after two years of decline, there was significant growth in overseas purchases of parts of boilers for central heating, when their volume increased by X% to X tons. Overall, imports enjoyed a significant increase. The pace of growth appeared the most rapid in 2017 with an increase of X% against the previous year. As a result, imports attained the peak of X tons. From 2018 to 2022, the growth of imports failed to regain momentum.

In value terms, boiler parts imports skyrocketed to $X in 2022. In general, imports posted prominent growth. The most prominent rate of growth was recorded in 2017 when imports increased by X% against the previous year. As a result, imports attained the peak of $X. From 2018 to 2022, the growth of imports remained at a somewhat lower figure.

Imports by Country

In 2022, Senegal (X tons) represented the main importer of parts of boilers for central heating, committing X% of total imports. Cote d'Ivoire (X tons) ranks second in terms of the total imports with a X% share, followed by Ghana (X%), Nigeria (X%) and Burkina Faso (X%).

Senegal was also the fastest-growing in terms of the parts of boilers for central heating imports, with a CAGR of X% from 2012 to 2022. At the same time, Burkina Faso (X%), Cote d'Ivoire (X%), Ghana (X%) and Nigeria (X%) displayed positive paces of growth. Senegal (X p.p.), Burkina Faso (X p.p.) and Cote d'Ivoire (X p.p.) significantly strengthened its position in terms of the total imports, while Ghana and Nigeria saw its share reduced by X% and X% from 2012 to 2022, respectively.

In value terms, Senegal ($X) constitutes the largest market for imported parts of boilers for central heating in ECOWAS, comprising X% of total imports. The second position in the ranking was held by Nigeria ($X), with a X% share of total imports. It was followed by Cote d'Ivoire, with an X% share.

From 2012 to 2022, the average annual growth rate of value in Senegal amounted to X%. The remaining importing countries recorded the following average annual rates of imports growth: Nigeria (X% per year) and Cote d'Ivoire (X% per year).

Import Prices by Country

In 2022, the import price in ECOWAS amounted to $X per ton, dropping by X% against the previous year. Overall, the import price continues to indicate a noticeable slump. The pace of growth was the most pronounced in 2016 an increase of X% against the previous year. As a result, import price attained the peak level of $X per ton. From 2017 to 2022, the import prices remained at a somewhat lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Nigeria ($X per ton), while Burkina Faso ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Nigeria (X%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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