ECOWAS: Starter Battery Market 2024

Starter Battery Market Size in ECOWAS

In 2022, after three years of growth, there was significant decline in the ECOWAS starter battery market, when its value decreased by X% to $X. In general, consumption, however, recorded strong growth. The level of consumption peaked at $X in 2021, and then dropped in the following year.

Starter Battery Production in ECOWAS

In value terms, starter battery production fell to $X in 2022 estimated in export price. Overall, production continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 with an increase of X% against the previous year. As a result, production attained the peak level of $X. From 2020 to 2022, production growth failed to regain momentum.

Starter Battery Exports

Exports in ECOWAS

In 2022, overseas shipments of lead-acid accumulators for starting piston engines decreased by X% to X units for the first time since 2016, thus ending a five-year rising trend. Overall, exports, however, continue to indicate a slight increase. The most prominent rate of growth was recorded in 2021 with an increase of X%. As a result, the exports attained the peak of X units, and then declined significantly in the following year.

In value terms, starter battery exports reduced rapidly to $X in 2022. In general, exports, however, showed a measured increase. The growth pace was the most rapid in 2021 with an increase of X% against the previous year. As a result, the exports attained the peak of $X, and then declined dramatically in the following year.

Exports by Country

Togo represented the key exporter of lead-acid accumulators for starting piston engines in ECOWAS, with the volume of exports recording X units, which was near X% of total exports in 2022. It was distantly followed by Ghana (X units), making up a X% share of total exports. Senegal (X units), Niger (X units), Guinea-Bissau (X units) and Mali (X units) followed a long way behind the leaders.

Togo was also the fastest-growing in terms of the lead-acid accumulators for starting piston engines exports, with a CAGR of X% from 2012 to 2022. At the same time, Ghana (X%), Niger (X%) and Guinea-Bissau (X%) displayed positive paces of growth. By contrast, Mali (X%) and Senegal (X%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Togo, Ghana, Niger and Guinea-Bissau increased by X, X, X and X percentage points, respectively.

In value terms, Togo ($X) remains the largest starter battery supplier in ECOWAS, comprising X% of total exports. The second position in the ranking was held by Ghana ($X), with an X% share of total exports. It was followed by Senegal, with a X% share.

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

Export Prices by Country

The export price in ECOWAS stood at $X per unit in 2022, stabilizing at the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of X%. The pace of growth appeared the most rapid in 2018 when the export price increased by X% against the previous year. The level of export peaked in 2022 and is likely to see steady growth in years to come.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Mali ($X per unit), while Guinea-Bissau ($X per unit) was amongst the lowest.

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

Starter Battery Imports

Imports in ECOWAS

In 2022, after three years of growth, there was significant decline in supplies from abroad of lead-acid accumulators for starting piston engines, when their volume decreased by X% to X units. In general, imports, however, posted a strong expansion. The pace of growth appeared the most rapid in 2020 with an increase of X% against the previous year. The volume of import peaked at X units in 2021, and then dropped in the following year.

In value terms, starter battery imports dropped to $X in 2022. Over the period under review, imports, however, posted a buoyant increase. The growth pace was the most rapid in 2017 when imports increased by X% against the previous year. Over the period under review, imports attained the peak figure at $X in 2021, and then fell in the following year.

Imports by Country

In 2022, Ghana (X units) represented the major importer of lead-acid accumulators for starting piston engines, making up X% of total imports. Guinea (X units) ranks second in terms of the total imports with a X% share, followed by Mali (X%). Cote d'Ivoire (X units), Gambia (X units), Liberia (X units) and Nigeria (X units) took a minor share of total imports.

Imports into Ghana increased at an average annual rate of X% from 2012 to 2022. At the same time, Gambia (X%), Mali (X%), Guinea (X%), Liberia (X%) and Cote d'Ivoire (X%) displayed positive paces of growth. Moreover, Gambia emerged as the fastest-growing importer imported in ECOWAS, with a CAGR of X% from 2012-2022. By contrast, Nigeria (X%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Ghana, Mali, Guinea and Gambia increased by X, X, X and X percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Ghana ($X) constitutes the largest market for imported lead-acid accumulators for starting piston engines in ECOWAS, comprising X% of total imports. The second position in the ranking was taken by Mali ($X), with an X% share of total imports. It was followed by Guinea, with a X% share.

In Ghana, starter battery imports increased at an average annual rate of X% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Mali (X% per year) and Guinea (X% per year).

Import Prices by Country

The import price in ECOWAS stood at $X per unit in 2022, with a decrease of X% against the previous year. Overall, the import price continues to indicate a noticeable contraction. The most prominent rate of growth was recorded in 2021 when the import price increased by X%. The level of import peaked at $X per unit in 2012; however, from 2013 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 Cote d'Ivoire ($X per unit), while Ghana ($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 mixed trends in the import price figures.

Source: IndexBox Platform

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