ECOWAS: Sealed Beam Market 2024

Sealed Beam Market Size in ECOWAS

The ECOWAS sealed beam market expanded rapidly to $X in 2022, rising by 14% against the previous year. The total consumption indicated a tangible expansion from 2012 to 2022: its value increased at an average annual rate of +4.3% 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 -9.4% against 2020 indices. As a result, consumption reached the peak level of $X. From 2021 to 2022, the growth of the market remained at a lower figure.

Sealed Beam Production in ECOWAS

In value terms, sealed beam production expanded sharply to $X in 2022 estimated in export price. The total production indicated tangible growth from 2012 to 2022: its value increased at an average annual rate of +4.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -11.1% against 2020 indices. The most prominent rate of growth was recorded in 2020 when the production volume increased by 80%. As a result, production reached the peak level of $X. From 2021 to 2022, production growth failed to regain momentum.

Sealed Beam Exports

Exports in ECOWAS

Sealed beam exports shrank sharply to X units in 2022, falling by -20.3% on 2021. Over the period under review, exports, however, saw a strong increase. The most prominent rate of growth was recorded in 2014 when exports increased by 996% against the previous year. As a result, the exports reached the peak of X units. From 2015 to 2022, the growth of the exports remained at a lower figure.

In value terms, sealed beam exports shrank to $X in 2022. In general, exports, however, saw a buoyant increase. The pace of growth was the most pronounced in 2014 when exports increased by 985%. 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

In 2022, Nigeria (X units) represented the major exporter of sealed beam lamp units, generating 84% of total exports. It was distantly followed by Sierra Leone (X units), constituting a 10% share of total exports. Togo (X units) took a relatively small share of total exports.

Exports from Nigeria increased at an average annual rate of +23.0% from 2012 to 2022. At the same time, Togo (+340.0%) and Sierra Leone (+8.8%) displayed positive paces of growth. Moreover, Togo emerged as the fastest-growing exporter exported in ECOWAS, with a CAGR of +340.0% from 2012-2022. While the share of Nigeria (+51 p.p.) and Togo (+2.3 p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Sierra Leone (-3.2 p.p.) displayed negative dynamics.

In value terms, Nigeria ($X), Sierra Leone ($X) and Togo ($X) constituted the countries with the highest levels of exports in 2022, with a combined 95% share of total exports.

Among the main exporting countries, Togo, with a CAGR of +53.4%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the export price in ECOWAS amounted to $X per unit, growing by 22% against the previous year. Overall, the export price posted a resilient increase. The growth pace was the most rapid in 2017 when the export price increased by 103%. Over the period under review, the export prices attained the peak figure at $X per unit in 2020; however, from 2021 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Sierra Leone ($X per unit), while Nigeria ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Sierra Leone (+28.2%), while the other leaders experienced mixed trends in the export price figures.

Sealed Beam Imports

Imports in ECOWAS

In 2022, the amount of sealed beam lamp units imported in ECOWAS shrank dramatically to X units, waning by -41.7% against the previous year's figure. Total imports indicated noticeable growth from 2012 to 2022: its volume increased at an average annual rate of +2.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2021 when imports increased by 70% against the previous year. As a result, imports reached the peak of X units, and then declined significantly in the following year.

In value terms, sealed beam imports declined sharply to $X in 2022. Total imports indicated a noticeable expansion from 2012 to 2022: its value increased at an average annual rate of +2.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2018 when imports increased by 45% against the previous year. The level of import peaked at $X in 2021, and then reduced rapidly in the following year.

Imports by Country

Nigeria (X units) and Niger (X units) were the main importers of sealed beam lamp units in 2022, finishing at approx. 24% and 20% of total imports, respectively. Ghana (X units) took the next position in the ranking, followed by Cote d'Ivoire (X units), Mali (X units), Togo (X units) and Gambia (X units). All these countries together took approx. 45% 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 Togo (with a CAGR of +50.1%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Ghana ($X), Nigeria ($X) and Cote d'Ivoire ($X) constituted the countries with the highest levels of imports in 2022, together comprising 57% of total imports. Togo, Mali, Gambia and Niger lagged somewhat behind, together comprising a further 15%.

Among the main importing countries, Togo, with a CAGR of +29.2%, recorded the highest growth rate of the value of imports, 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, rising by 14% against the previous year. Over the period under review, the import price showed a relatively flat trend pattern. The growth pace was the most rapid in 2018 an increase of 53% against the previous year. The level of import peaked at $X per unit in 2020; however, from 2021 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 Cote d'Ivoire ($X per unit), while Niger ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Gambia (+9.4%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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