ECOWAS: Microwave Oven Market 2024

Microwave Oven Market Size in ECOWAS

The ECOWAS microwave oven market expanded slightly to $X in 2022, growing by X% against the previous year. The market value increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. Over the period under review, the market reached the peak level at $X in 2020; however, from 2021 to 2022, consumption failed to regain momentum.

Microwave Oven Production in ECOWAS

In value terms, microwave oven production rose 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; however, the trend pattern remained consistent, with somewhat noticeable fluctuations in certain years. The growth pace was the most rapid in 2018 when the production volume increased by X% against the previous year. Over the period under review, production hit record highs at $X in 2020; however, from 2021 to 2022, production failed to regain momentum.

Microwave Oven Exports

Exports in ECOWAS

In 2022, shipments abroad of microwave ovens decreased by X% to X units for the first time since 2018, thus ending a three-year rising trend. Over the period under review, exports saw a abrupt curtailment. The pace of growth appeared the most rapid in 2014 with an increase of X%. As a result, the exports attained the peak of X units. From 2015 to 2022, the growth of the exports failed to regain momentum.

In value terms, microwave oven exports dropped remarkably to $X in 2022. In general, exports showed a deep reduction. The pace of growth appeared the most rapid in 2014 when exports increased by X%. As a result, the exports attained the peak of $X. From 2015 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

Senegal represented the main exporting country with an export of around X units, which recorded X% of total exports. It was distantly followed by Nigeria (X units), Cote d'Ivoire (X units) and Ghana (X units), together mixing up a X% share of total exports. Guinea (X units), Liberia (X units) and Mali (X units) followed a long way behind the leaders.

Exports from Senegal decreased at an average annual rate of X% from 2012 to 2022. At the same time, Liberia (X%) and Guinea (X%) displayed positive paces of growth. Moreover, Liberia emerged as the fastest-growing exporter exported in ECOWAS, with a CAGR of X% from 2012-2022. Ghana and Cote d'Ivoire experienced a relatively flat trend pattern. By contrast, Mali (X%) and Nigeria (X%) illustrated a downward trend over the same period. While the share of Senegal (X p.p.), Cote d'Ivoire (X p.p.), Ghana (X p.p.), Guinea (X p.p.) and Liberia (X p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Nigeria (X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Senegal ($X) remains the largest microwave oven supplier in ECOWAS, comprising X% of total exports. The second position in the ranking was held by Cote d'Ivoire ($X), with an X% share of total exports. It was followed by Ghana, with a X% share.

In Senegal, microwave oven exports shrank by an average annual rate of X% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Cote d'Ivoire (X% per year) and Ghana (X% per year).

Export Prices by Country

In 2022, the export price in ECOWAS amounted to $X per unit, waning by X% against the previous year. Over the period under review, the export price recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2015 an increase of X% against the previous year. Over the period under review, the export prices attained the peak figure at $X per unit in 2021, and then contracted significantly in the following year.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Senegal ($X per unit), while Nigeria ($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 a decline in the export price figures.

Microwave Oven Imports

Imports in ECOWAS

In 2022, overseas purchases of microwave ovens decreased by X% to X units for the first time since 2017, thus ending a four-year rising trend. Over the period under review, imports, however, showed a tangible expansion. The growth pace was the most rapid in 2014 with an increase of X% against the previous year. As a result, imports attained the peak of X units. From 2015 to 2022, the growth of imports remained at a lower figure.

In value terms, microwave oven imports shrank slightly to $X in 2022. Overall, imports, however, posted a perceptible expansion. The growth pace was the most rapid in 2018 when imports increased by X% against the previous year. Over the period under review, imports reached the maximum at $X in 2021, and then dropped in the following year.

Imports by Country

In 2022, Ghana (X units) was the largest importer of microwave ovens, creating X% of total imports. It was distantly followed by Nigeria (X units), committing a X% share of total imports. The following importers - Senegal (X units), Guinea (X units), Cote d'Ivoire (X units), Gambia (X units), Mali (X units) and Cabo Verde (X units) - together made up X% of total imports.

From 2012 to 2022, the biggest increases were recorded for Guinea (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Nigeria ($X), Ghana ($X) and Senegal ($X) appeared to be the countries with the highest levels of imports in 2022, with a combined X% share of total imports. Cote d'Ivoire, Guinea, Mali, Gambia and Cabo Verde lagged somewhat behind, together comprising a further X%.

Mali, with a CAGR of X%, recorded the highest growth rate of the value of imports, in terms of 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

The import price in ECOWAS stood at $X per unit in 2022, remaining relatively unchanged against the previous year. In general, the import price, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 an increase of X% against the previous year. Over the period under review, import prices reached the maximum at $X per unit in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

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

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

Source: IndexBox Platform

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