Western Africa: Sealed Beam Market 2024

Sealed Beam Market Size in Western Africa

The West African sealed beam market skyrocketed to $X in 2022, growing by 16% against the previous year. The total consumption indicated tangible growth from 2012 to 2022: its value increased at an average annual rate of +2.5% 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 -12.8% 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 Western Africa

In value terms, sealed beam production surged to $X in 2022 estimated in export price. The total production indicated a notable expansion from 2012 to 2022: its value 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. Based on 2022 figures, production decreased by -11.9% against 2020 indices. The pace of growth was the most pronounced in 2020 when the production volume increased by 91% against the previous year. As a result, production reached the peak level of $X. From 2021 to 2022, production growth remained at a lower figure.

Sealed Beam Exports

Exports in Western Africa

In 2022, exports of sealed beam lamp units in Western Africa reduced notably to X units, with a decrease of -20.3% on 2021 figures. Over the period under review, exports, however, posted a remarkable increase. The growth pace was the most rapid in 2014 with an increase of 996%. 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 reduced modestly to $X in 2022. Overall, exports, however, continue to indicate buoyant growth. The pace of growth appeared the most rapid in 2014 when exports increased by 985% against the previous year. As a result, the exports reached the peak of $X. From 2015 to 2022, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Nigeria represented the key exporter of sealed beam lamp units in Western Africa, with the volume of exports resulting at X units, which was approx. 84% of total exports in 2022. It was distantly followed by Sierra Leone (X units), mixing up a 10% share of total exports. Togo (X units) followed a long way behind the leaders.

From 2012 to 2022, average annual rates of growth with regard to sealed beam exports from Nigeria stood at +23.0%. 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 Western Africa, 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, the largest sealed beam supplying countries in Western Africa were Nigeria ($X), Sierra Leone ($X) and Togo ($X), together accounting for 95% of total exports.

Among the main exporting countries, Togo, with a CAGR of +53.4%, saw the highest rates of growth with regard to 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 Western Africa amounted to $X per unit, surging by 22% against the previous year. In general, the export price showed a buoyant expansion. The most prominent rate of growth was recorded in 2017 when the export price increased by 111%. The level of export peaked at $X per unit in 2020; however, from 2021 to 2022, the export prices stood at a somewhat lower figure.

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 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 Western Africa

Sealed beam imports dropped rapidly to X units in 2022, with a decrease of -40.7% on the year before. Total imports indicated temperate growth from 2012 to 2022: its volume increased at an average annual rate of +2.6% 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 62%. As a result, imports attained the peak of X units, and then fell markedly in the following year.

In value terms, sealed beam imports dropped markedly to $X in 2022. Total imports indicated a pronounced expansion from 2012 to 2022: its value increased at an average annual rate of +3.7% 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 2018 with an increase of 51% against the previous year. Over the period under review, imports hit record highs at $X in 2021, and then declined significantly in the following year.

Imports by Country

Nigeria (X units) and Niger (X units) represented roughly 42% of total imports in 2022. Ghana (X units) ranks next in terms of the total imports with an 11% share, followed by Cote d'Ivoire (10%), Mali (8.9%), Togo (7.2%) and Gambia (6.3%).

From 2012 to 2022, the biggest increases were recorded for Togo (with a CAGR of +50.1%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Ghana ($X), Nigeria ($X) and Cote d'Ivoire ($X) appeared to be the countries with the highest levels of imports in 2022, together accounting for 52% of total imports. Togo, Mali, Gambia and Niger lagged somewhat behind, together comprising a further 13%.

In terms of the main importing countries, Togo, with a CAGR of +29.2%, saw 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

In 2022, the import price in Western Africa amounted to $X per unit, increasing by 22% against the previous year. Import price indicated modest growth from 2012 to 2022: its price increased at an average annual rate of +1.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, sealed beam import price decreased by -23.8% against 2020 indices. The growth pace was the most rapid in 2018 when the import price increased by 57% against the previous year. The level of import peaked at $X per unit in 2020; however, from 2021 to 2022, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: 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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