ECOWAS: Market for Electric Generating Sets And Rotary Converters 2024

Market Size for Electric Generating Sets And Rotary Converters in ECOWAS

In 2021, the ECOWAS market for electric generating sets and rotary converters was finally on the rise to reach $X for the first time since 2018, thus ending a two-year declining trend. Overall, consumption enjoyed a prominent increase. The level of consumption peaked at $X in 2016; however, from 2017 to 2021, consumption failed to regain momentum.

Production of Electric Generating Sets And Rotary Converters in ECOWAS

In value terms, production of electric generating sets and rotary converters shrank markedly to $X in 2021 estimated in export price. Overall, production showed a perceptible setback. The growth pace was the most rapid in 2020 with an increase of X% against the previous year. Over the period under review, production of reached the maximum level at $X in 2012; however, from 2013 to 2021, production stood at a somewhat lower figure.

Exports of Electric Generating Sets And Rotary Converters

Exports in ECOWAS

Exports of electric generating sets and rotary converters surged to X units in 2021, with an increase of X% against the year before. In general, exports saw strong growth. Over the period under review, the exports of attained the maximum at X units in 2015; however, from 2016 to 2021, the exports failed to regain momentum.

In value terms, exports of electric generating sets and rotary converters soared to $X in 2021. Over the period under review, exports posted notable growth. The level of export peaked at $X in 2015; however, from 2016 to 2021, the exports failed to regain momentum.

Exports by Country

In 2021, Togo (X units) represented the major exporter of electric generating sets and rotary converters, constituting X% of total exports. Benin (X units) ranks second in terms of the total exports with a X% share, followed by Cote d'Ivoire (X%) and Senegal (X%). The following exporters - Ghana (X units), Nigeria (X units) and Guinea (X units) - each finished at a X% share of total exports.

Exports from Togo increased at an average annual rate of X% from 2012 to 2021. At the same time, Guinea (X%), Benin (X%), Nigeria (X%) and Cote d'Ivoire (X%) displayed positive paces of growth. Moreover, Guinea emerged as the fastest-growing exporter exported in ECOWAS, with a CAGR of X% from 2012-2021. By contrast, Senegal (X%) and Ghana (X%) illustrated a downward trend over the same period. From 2012 to 2021, the share of Togo, Benin, Cote d'Ivoire, Guinea and Nigeria increased by X, X, X, X and X percentage points, respectively.

In value terms, Togo ($X) emerged as the largest electric generating set and rotary converter supplier in ECOWAS, comprising X% of total exports. The second position in the ranking was taken by Benin ($X), with a X% share of total exports. It was followed by Senegal, with an X% share.

In Togo, exports of electric generating sets and rotary converters increased at an average annual rate of X% over the period from 2012-2021. In the other countries, the average annual rates were as follows: Benin (X% per year) and Senegal (X% per year).

Export Prices by Country

The export price in ECOWAS stood at $X per unit in 2021, declining by X% against the previous year. Over the period under review, the export price showed a perceptible descent. The most prominent rate of growth was recorded in 2017 an increase of X%. The level of export peaked at $X per unit in 2013; however, from 2014 to 2021, the export prices failed to regain momentum.

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 Senegal ($X per unit), while Guinea ($X per unit) was amongst the lowest.

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

Imports of Electric Generating Sets And Rotary Converters

Imports in ECOWAS

In 2021, after two years of decline, there was significant growth in purchases abroad of electric generating sets and rotary converters, when their volume increased by X% to X units. In general, imports saw a remarkable increase. The pace of growth appeared the most rapid in 2015 when imports increased by X%. Over the period under review, imports of attained the maximum at X units in 2016; however, from 2017 to 2021, imports stood at a somewhat lower figure.

In value terms, imports of electric generating sets and rotary converters shrank notably to $X in 2021. Over the period under review, imports, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 when imports increased by X%. Over the period under review, imports of attained the peak figure at $X in 2019; however, from 2020 to 2021, imports failed to regain momentum.

Imports by Country

Nigeria prevails in converters structure, amounting to X units, which was approx. X% of total imports in 2021. Burkina Faso (X units), Liberia (X units), Senegal (X units), Ghana (X units) and Togo (X units) followed a long way behind the leaders.

Nigeria was also the fastest-growing in terms of the electric generating sets and rotary converters imports, with a CAGR of X% from 2012 to 2021. At the same time, Burkina Faso (X%), Senegal (X%) and Togo (X%) displayed positive paces of growth. By contrast, Ghana (X%) and Liberia (X%) illustrated a downward trend over the same period. From 2012 to 2021, the share of Nigeria increased by X percentage points. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Nigeria ($X) constitutes the largest market for imported electric generating sets and rotary converters in ECOWAS, comprising X% of total imports. The second position in the ranking was held by Ghana ($X), with a X% share of total imports. It was followed by Senegal, with a X% share.

From 2012 to 2021, the average annual growth rate of value in Nigeria amounted to X%. The remaining importing countries recorded the following average annual rates of imports growth: Ghana (X% per year) and Senegal (X% per year).

Import Prices by Country

The import price in ECOWAS stood at $X per unit in 2021, which is down by X% against the previous year. Overall, the import price saw a abrupt curtailment. The most prominent rate of growth was recorded in 2017 when the import price increased by X% against the previous year. The level of import peaked at $X per unit in 2013; however, from 2014 to 2021, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major importing countries. In 2021, amid the top importers, the country with the highest price was Ghana ($X per unit), while Liberia ($X per unit) was amongst the lowest.

From 2012 to 2021, 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

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