ECOWAS - Gear Boxes - Market Analysis, Forecast, Size, Trends and Insights
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View PricingECOWAS: Gear Box Market 2024
Gear Box Market Size in ECOWAS
The ECOWAS gear box market expanded rapidly to $X in 2023, growing by X% against the previous year. In general, consumption continues to indicate a buoyant increase. The level of consumption peaked at $X in 2021; however, from 2022 to 2023, consumption remained at a lower figure.
Gear Box Production in ECOWAS
In value terms, gear box production expanded remarkably to $X in 2023 estimated in export price. Overall, production recorded resilient growth. The pace of growth was the most pronounced in 2014 when the production volume increased by X%. The level of production peaked at $X in 2021; however, from 2022 to 2023, production remained at a lower figure.
Gear Box Exports
Exports in ECOWAS
In 2023, shipments abroad of gear boxes decreased by X% to X units, falling for the second year in a row after two years of growth. In general, exports, however, posted a resilient 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 units. From 2022 to 2023, the growth of the exports remained at a lower figure.
In value terms, gear box exports surged to $X in 2023. Over the period under review, exports, however, continue to indicate a buoyant increase. The growth pace was the most rapid in 2021 when exports increased by X%. As a result, the exports reached the peak of $X. From 2022 to 2023, the growth of the exports remained at a somewhat lower figure.
Exports by Country
In 2023, Ghana (X units) was the key exporter of gear boxes, making up X% of total exports. It was distantly followed by Cote d'Ivoire (X units), Nigeria (X units), Senegal (X units), Burkina Faso (X units) and Togo (X units), together generating a X% share of total exports. Benin (X units) followed a long way behind the leaders.
From 2012 to 2023, average annual rates of growth with regard to gear box exports from Ghana stood at X%. At the same time, Benin (X%), Cote d'Ivoire (X%), Togo (X%), Senegal (X%) and Burkina Faso (X%) displayed positive paces of growth. Moreover, Benin emerged as the fastest-growing exporter exported in ECOWAS, with a CAGR of X% from 2012-2023. Nigeria experienced a relatively flat trend pattern. Cote d'Ivoire (X p.p.), Senegal (X p.p.), Togo (X p.p.), Benin (X p.p.) and Ghana (X p.p.) significantly strengthened its position in terms of the total exports, while Nigeria saw its share reduced by X% from 2012 to 2023, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.
In value terms, the largest gear box supplying countries in ECOWAS were Senegal ($X), Cote d'Ivoire ($X) and Burkina Faso ($X), with a combined X% share of total exports.
Among the main exporting countries, Cote d'Ivoire, with a CAGR of X%, recorded 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
The export price in ECOWAS stood at $X per unit in 2023, picking up by X% against the previous year. Overall, the export price saw noticeable growth. The most prominent rate of growth was recorded in 2018 when the export price increased by X% against the previous year. Over the period under review, the export prices attained the peak figure at $X per unit in 2021; however, from 2022 to 2023, the export prices stood at a somewhat lower figure.
Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Burkina Faso ($X per unit), while Ghana ($X per unit) was amongst the lowest.
From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Burkina Faso (X%), while the other leaders experienced more modest paces of growth.
Gear Box Imports
Imports in ECOWAS
In 2023, approx. X units of gear boxes were imported in ECOWAS; surging by X% against the previous year's figure. In general, imports saw a noticeable expansion. The pace of growth appeared the most rapid in 2022 with an increase of X% against the previous year. The volume of import peaked in 2023 and is expected to retain growth in years to come.
In value terms, gear box imports dropped to $X in 2023. Overall, imports showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 with an increase of X% against the previous year. The level of import peaked at $X in 2022, and then declined in the following year.
Imports by Country
Nigeria was the major importing country with an import of about X units, which resulted at X% of total imports. Ghana (X units) held a X% share (based on physical terms) of total imports, which put it in second place, followed by Cote d'Ivoire (X%). Guinea (X units), Burkina Faso (X units), Senegal (X units) and Mali (X units) followed a long way behind the leaders.
From 2012 to 2023, average annual rates of growth with regard to gear box imports into Nigeria stood at X%. At the same time, Cote d'Ivoire (X%), Mali (X%), Burkina Faso (X%) and Guinea (X%) displayed positive paces of growth. Moreover, Cote d'Ivoire emerged as the fastest-growing importer imported in ECOWAS, with a CAGR of X% from 2012-2023. Ghana experienced a relatively flat trend pattern. By contrast, Senegal (X%) illustrated a downward trend over the same period. From 2012 to 2023, the share of Nigeria, Cote d'Ivoire and Mali increased by X, X and X percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.
In value terms, Nigeria ($X), Guinea ($X) and Burkina Faso ($X) constituted the countries with the highest levels of imports in 2023, together accounting for X% of total imports. Ghana, Cote d'Ivoire, Mali and Senegal lagged somewhat behind, together comprising a further X%.
Among the main importing countries, Mali, with a CAGR of X%, recorded the highest rates of growth with regard to 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 2023, waning by X% against the previous year. Over the period under review, the import price recorded a pronounced curtailment. The pace of growth appeared the most rapid in 2016 an increase of X% against the previous year. Over the period under review, import prices attained the peak figure at $X per unit in 2018; however, from 2019 to 2023, import prices failed to regain momentum.
There were significant differences in the average prices amongst the major importing countries. In 2023, amid the top importers, the country with the highest price was Burkina Faso ($X per unit), while Nigeria ($X per unit) was amongst the lowest.
From 2012 to 2023, 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
This report provides an in-depth analysis of the gear box market in ECOWAS. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.
Product coverage:
- Prodcom 29323033 - Gear boxes and their parts
Country coverage:
- Benin
- Burkina Faso
- Cabo Verde
- Cote d'Ivoire
- Gambia
- Ghana
- Guinea
- Guinea-Bissau
- Liberia
- Mali
- Niger
- Nigeria
- Senegal
- Sierra Leone
- Togo
Data coverage:
- Market volume and value
- Per Capita consumption
- Forecast of the market dynamics in the medium term
- Production in ECOWAS, split by region and country
- Trade (exports and imports) in ECOWAS
- Export and import prices
- Market trends, drivers and restraints
- Key market players and their profiles
Reasons to buy this report:
- Take advantage of the latest data
- Find deeper insights into current market developments
- Discover vital success factors affecting the market
This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.
In this report, you can find information that helps you to make informed decisions on the following issues:
- How to diversify your business and benefit from new market opportunities
- How to load your idle production capacity
- How to boost your sales on overseas markets
- How to increase your profit margins
- How to make your supply chain more sustainable
- How to reduce your production and supply chain costs
- How to outsource production to other countries
- How to prepare your business for global expansion
While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.
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1. INTRODUCTION
Making Data-Driven Decisions to Grow Your Business
- REPORT DESCRIPTION
- RESEARCH METHODOLOGY AND AI PLATFORM
- DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
- GLOSSARY AND SPECIFIC TERMS
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2. EXECUTIVE SUMMARY
A Quick Overview of Market Performance
- KEY FINDINGS
- MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
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3. MARKET OVERVIEW
Understanding the Current State of The Market and Its Prospects
- MARKET SIZE
- CONSUMPTION BY COUNTRY
- MARKET FORECAST TO 2030
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4. MOST PROMISING PRODUCT
Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO- TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
- BEST-SELLING PRODUCTS
- MOST CONSUMED PRODUCT
- MOST TRADED PRODUCT
- MOST PROFITABLE PRODUCT FOR EXPORT
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5. MOST PROMISING SUPPLYING COUNTRIES
Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO- TOP COUNTRIES TO SOURCE YOUR PRODUCT
- TOP PRODUCING COUNTRIES
- TOP EXPORTING COUNTRIES
- LOW-COST EXPORTING COUNTRIES
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6. MOST PROMISING OVERSEAS MARKETS
Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO- TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
- TOP CONSUMING MARKETS
- UNSATURATED MARKETS
- TOP IMPORTING MARKETS
- MOST PROFITABLE MARKETS
7. PRODUCTION
The Latest Trends and Insights into The Industry
- PRODUCTION VOLUME AND VALUE
- PRODUCTION BY COUNTRY
8. IMPORTS
The Largest Importers on The Market and How They Succeed
- IMPORTS FROM 2012–2023
- IMPORTS BY COUNTRY
- IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Exporters on The Market and How They Succeed
- EXPORTS FROM 2012–2023
- EXPORTS BY COUNTRY
- EXPORT PRICES BY COUNTRY
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10. PROFILES OF MAJOR PRODUCERS
The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO -
11. COUNTRY PROFILES
The Largest Markets And Their Profiles
This Chapter is Available Only for the Professional Edition PRO- Benin
- Burkina Faso
- Cabo Verde
- Gambia
- Ghana
- Guinea
- Guinea-Bissau
- Liberia
- Mali
- Niger
- Nigeria
- Senegal
- Sierra Leone
- Togo
- Cote d'Ivoire
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LIST OF TABLES
- Key Findings In 2023
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Per Capita Consumption, By Country, 2018–2023
- Production, In Physical Terms, By Country, 2012–2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Destination, 2012–2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Origin, 2012–2023
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LIST OF FIGURES
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Consumption, By Country, 2023
- Market Volume Forecast to 2030
- Market Value Forecast to 2030
- Products: Market Size And Growth, By Type
- Products: Average Per Capita Consumption, By Type
- Products: Exports And Growth, By Type
- Products: Export Prices And Growth, By Type
- Production Volume And Growth
- Exports And Growth
- Export Prices And Growth
- Market Size And Growth
- Per Capita Consumption
- Imports And Growth
- Import Prices
- Production, In Physical Terms, 2012–2023
- Production, In Value Terms, 2012–2023
- Production, By Country, 2023
- Production, In Physical Terms, By Country, 2012–2023
- Imports, In Physical Terms, 2012–2023
- Imports, In Value Terms, 2012–2023
- Imports, In Physical Terms, By Country, 2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country, 2012–2023
- Exports, In Physical Terms, 2012–2023
- Exports, In Value Terms, 2012–2023
- Exports, In Physical Terms, By Country, 2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, 2012–2023
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