ECOWAS: Non-Combined Refrigerator-Freezer Market 2024

Non-Combined Refrigerator-Freezer Market Size in ECOWAS

The ECOWAS non-combined refrigerator-freezer market reduced modestly to $X in 2022, shrinking by X% against the previous year. The total consumption indicated temperate growth from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by X% against 2019 indices. Over the period under review, the market reached the peak level at $X in 2019; however, from 2020 to 2022, consumption remained at a lower figure.

Non-Combined Refrigerator-Freezer Production in ECOWAS

In value terms, non-combined refrigerator-freezer production declined modestly to $X in 2022 estimated in export price. Overall, production, however, posted resilient growth. The most prominent rate of growth was recorded in 2017 when the production volume increased by X%. The level of production peaked at $X in 2019; however, from 2020 to 2022, production stood at a somewhat lower figure.

Non-Combined Refrigerator-Freezer Exports

Exports in ECOWAS

In 2022, shipments abroad of household refrigerators and freezers (not combined) decreased by X% to X units, falling for the second consecutive year after two years of growth. In general, exports showed a abrupt setback. The most prominent rate of growth was recorded in 2016 with an increase of X%. As a result, the exports reached the peak of X units. From 2017 to 2022, the growth of the exports remained at a lower figure.

In value terms, non-combined refrigerator-freezer exports fell notably to $X in 2022. Over the period under review, exports recorded a abrupt setback. The most prominent rate of growth was recorded in 2020 with an increase of X%. The level of export peaked at $X in 2014; however, from 2015 to 2022, the exports remained at a lower figure.

Exports by Country

In 2022, Senegal (X units) represented the largest exporter of household refrigerators and freezers (not combined), creating X% of total exports. Togo (X units) held a X% share (based on physical terms) of total exports, which put it in second place, followed by Cote d'Ivoire (X%), Ghana (X%) and Burkina Faso (X%). The following exporters - Mali (X units) and Sierra Leone (X units) - each amounted to a X% share of total exports.

From 2012 to 2022, average annual rates of growth with regard to non-combined refrigerator-freezer exports from Senegal stood at X%. At the same time, Togo (X%) and Burkina Faso (X%) displayed positive paces of growth. Moreover, Togo emerged as the fastest-growing exporter exported in ECOWAS, with a CAGR of X% from 2012-2022. By contrast, Mali (X%), Cote d'Ivoire (X%), Sierra Leone (X%) and Ghana (X%) illustrated a downward trend over the same period. While the share of Togo (X p.p.), Senegal (X p.p.), Burkina Faso (X p.p.) and Cote d'Ivoire (X p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Ghana (X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Senegal ($X) remains the largest non-combined refrigerator-freezer supplier in ECOWAS, comprising X% of total exports. The second position in the ranking was held by Togo ($X), with a X% share of total exports. It was followed by Cote d'Ivoire, with a X% share.

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

Export Prices by Country

In 2022, the export price in ECOWAS amounted to $X per unit, with an increase of X% against the previous year. Over the period under review, the export price showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2017 an increase of X%. The level of export peaked in 2022 and is expected to retain growth in the immediate term.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Senegal ($X per unit), while Mali ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Senegal (X%), while the other leaders experienced more modest paces of growth.

Non-Combined Refrigerator-Freezer Imports

Imports in ECOWAS

In 2022, purchases abroad of household refrigerators and freezers (not combined) decreased by X% to X units, falling for the second consecutive year after three years of growth. Overall, imports, however, continue to indicate notable growth. The most prominent rate of growth was recorded in 2019 with an increase of X% against the previous year. Over the period under review, imports attained the maximum at X units in 2020; however, from 2021 to 2022, imports stood at a somewhat lower figure.

In value terms, non-combined refrigerator-freezer imports reduced modestly to $X in 2022. Total imports indicated a slight increase from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports decreased by X% against 2019 indices. The most prominent rate of growth was recorded in 2019 with an increase of X% against the previous year. As a result, imports reached the peak of $X. From 2020 to 2022, the growth of imports remained at a somewhat lower figure.

Imports by Country

In 2022, Nigeria (X units), distantly followed by Ghana (X units) and Cote d'Ivoire (X units) represented the major importers of household refrigerators and freezers (not combined), together generating X% of total imports. Guinea (X units), Senegal (X units), Sierra Leone (X units), Liberia (X units), Burkina Faso (X units) and Mali (X units) took a relatively small share of total imports.

From 2012 to 2022, 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 ($X) constitutes the largest market for imported household refrigerators and freezers (not combined) in ECOWAS, comprising X% of total imports. The second position in the ranking was held by Ghana ($X), with a X% share of total imports. It was followed by Cote d'Ivoire, with an X% share.

From 2012 to 2022, the average annual rate of growth in terms of value in Nigeria was relatively modest. 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

In 2022, the import price in ECOWAS amounted to $X per unit, with an increase of X% against the previous year. In general, the import price, however, showed a mild curtailment. The most prominent rate of growth was recorded in 2016 when the import price increased by X%. Over the period under review, import prices reached the peak figure at $X per unit in 2013; however, from 2014 to 2022, import prices stood 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 Burkina Faso ($X per unit), while Guinea ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Cote d'Ivoire (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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