ECOWAS: Ac/Dc Motor Market 2024

Ac/Dc Motor Market Size in ECOWAS

The ECOWAS AC/DC motor market stood at $X in 2022, rising by X% against the previous year. The market value increased at an average annual rate of X% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The level of consumption peaked at $X in 2020; however, from 2021 to 2022, consumption failed to regain momentum.

Ac/Dc Motor Production in ECOWAS

In value terms, AC/DC motor production expanded slightly to $X in 2022 estimated in export price. The total output value increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced 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 remained at a lower figure.

Ac/Dc Motor Exports

Exports in ECOWAS

For the third year in a row, ECOWAS recorded growth in overseas shipments of AC/DC motors, which increased by X% to X units in 2022. Over the period under review, exports, however, continue to indicate a abrupt decline. The growth pace was the most rapid in 2013 when exports increased by X%. As a result, the exports reached the peak of X units. From 2014 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, AC/DC motor exports surged to $X in 2022. In general, exports, however, continue to indicate a mild curtailment. The pace of growth was the most pronounced in 2017 with an increase of X%. As a result, the exports attained the peak of $X. From 2018 to 2022, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Sierra Leone (X units) and Burkina Faso (X units) represented roughly X% of total exports in 2022. Ghana (X units) took a X% share (based on physical terms) of total exports, which put it in second place, followed by Niger (X%), Togo (X%), Cote d'Ivoire (X%) and Benin (X%).

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

In value terms, Niger ($X), Burkina Faso ($X) and Cote d'Ivoire ($X) appeared to be the countries with the highest levels of exports in 2022, together accounting for X% of total exports.

Niger, with a CAGR of X%, recorded the highest growth rate of the value of exports, in terms of the main exporting countries 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, increasing by X% against the previous year. Overall, the export price enjoyed a resilient expansion. The most prominent rate of growth was recorded in 2017 an increase of X%. As a result, the export price reached the peak level of $X per unit. From 2018 to 2022, the export prices remained at a lower figure.

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

From 2012 to 2022, 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.

Ac/Dc Motor Imports

Imports in ECOWAS

In 2022, purchases abroad of AC/DC motors decreased by X% to X units, falling for the second year in a row after three years of growth. Over the period under review, imports, however, showed a relatively flat trend pattern. The growth pace was the most rapid in 2018 with an increase of X%. Over the period under review, imports attained the peak figure at X units in 2020; however, from 2021 to 2022, imports stood at a somewhat lower figure.

In value terms, AC/DC motor imports rose remarkably to $X in 2022. Overall, imports, however, continue to indicate a relatively flat trend pattern. The pace of growth was the most pronounced 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 lower figure.

Imports by Country

Nigeria was the largest importer of AC/DC motors in ECOWAS, with the volume of imports finishing at X units, which was approx. X% of total imports in 2022. Ghana (X units) held the second position in the ranking, distantly followed by Cote d'Ivoire (X units), Guinea (X units) and Senegal (X units). All these countries together held near X% share 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 ($X) constitutes the largest market for imported AC/DC motors in ECOWAS, comprising X% of total imports. The second position in the ranking was held by Senegal ($X), with a X% share of total imports. It was followed by Ghana, with a X% share.

In Nigeria, AC/DC motor imports declined by an average annual rate of X% over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: Senegal (X% per year) and Ghana (X% per year).

Import Prices by Country

The import price in ECOWAS stood at $X per unit in 2022, rising by X% against the previous year. Over the period under review, the import price continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2015 when the import price increased by X%. As a result, import price reached the peak level of $X per unit. From 2016 to 2022, the import prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Senegal ($X per unit), while Ghana ($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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