ECOWAS: Electric Brazing Machine Market 2024

Electric Brazing Machine Market Size in ECOWAS

The ECOWAS electric brazing machine market reduced to $X in 2023, shrinking by X% against the previous year. Overall, consumption showed a relatively flat trend pattern. As a result, consumption reached the peak level of $X. From 2014 to 2023, the growth of the market remained at a lower figure.

Electric Brazing Machine Production in ECOWAS

In value terms, electric brazing machine production fell notably to $X in 2023 estimated in export price. In general, production continues to indicate strong growth. The most prominent rate of growth was recorded in 2020 when the production volume increased by X% against the previous year. As a result, production attained the peak level of $X. From 2021 to 2023, production growth failed to regain momentum.

Electric Brazing Machine Exports

Exports in ECOWAS

Electric brazing machine exports shrank to X units in 2023, which is down by X% against the year before. Overall, exports continue to indicate a abrupt downturn. The most prominent rate of growth was recorded in 2020 with an increase of X%. As a result, the exports reached the peak of X units. From 2021 to 2023, the growth of the exports remained at a lower figure.

In value terms, electric brazing machine exports contracted markedly to $X in 2023. In general, exports showed a deep downturn. The pace of growth was the most pronounced in 2022 when exports increased by X% against the previous year. As a result, the exports attained the peak of $X, and then contracted remarkably in the following year.

Exports by Country

Ghana represented the major exporter of electric brazing or soldering machines and apparatus in ECOWAS, with the volume of exports reaching X units, which was approx. X% of total exports in 2023. Mali (X units) took the second position in the ranking, followed by Nigeria (X units) and Gambia (X units). All these countries together held approx. X% share of total exports.

Exports from Ghana decreased at an average annual rate of X% from 2012 to 2023. Mali and Gambia experienced a relatively flat trend pattern. Nigeria (X%) illustrated a downward trend over the same period. While the share of Ghana (X p.p.), Mali (X p.p.) and Gambia (X p.p.) increased significantly in terms of the total exports from 2012-2023, the share of Nigeria (X p.p.) displayed negative dynamics.

In value terms, Gambia ($X) emerged as the largest electric brazing machine supplier in ECOWAS, comprising X% of total exports. The second position in the ranking was taken by Ghana ($X), with a X% share of total exports. It was followed by Nigeria, with a X% share.

From 2012 to 2023, the average annual rate of growth in terms of value in Gambia stood at X%. In the other countries, the average annual rates were as follows: Ghana (X% per year) and Nigeria (X% per year).

Export Prices by Country

In 2023, the export price in ECOWAS amounted to $X per unit, which is down by X% against the previous year. Overall, the export price recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2022 an increase of X% against the previous year. As a result, the export price reached the peak level of $X per unit, and then declined remarkably in the following year.

There were significant differences in the average prices amongst the major exporting countries. In 2023, amid the top suppliers, the country with the highest price was Gambia ($X per unit), while Mali ($X per unit) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Nigeria (X%).

Electric Brazing Machine Imports

Imports in ECOWAS

In 2023, electric brazing machine imports in ECOWAS reduced slightly to X units, waning by X% against the previous year. Overall, imports, however, continue to indicate tangible growth. The most prominent rate of growth was recorded in 2013 when imports increased by X%. As a result, imports reached the peak of X units. From 2014 to 2023, the growth of imports remained at a somewhat lower figure.

In value terms, electric brazing machine imports fell sharply to $X in 2023. In general, imports saw a deep contraction. The pace of growth appeared the most rapid in 2013 when imports increased by X%. As a result, imports attained the peak of $X. From 2014 to 2023, the growth of imports failed to regain momentum.

Imports by Country

Ghana was the largest importing country with an import of around X units, which reached X% of total imports. Cabo Verde (X units) ranks second in terms of the total imports with an X% share, followed by Nigeria (X%). Gambia (X units) and Senegal (X units) followed a long way behind the leaders.

From 2012 to 2023, average annual rates of growth with regard to electric brazing machine imports into Ghana stood at X%. At the same time, Cabo Verde (X%), Gambia (X%) and Senegal (X%) displayed positive paces of growth. Moreover, Cabo Verde emerged as the fastest-growing importer imported in ECOWAS, with a CAGR of X% from 2012-2023. By contrast, Nigeria (X%) illustrated a downward trend over the same period. From 2012 to 2023, the share of Ghana, Cabo Verde, Gambia and Senegal increased by X, X, X and X percentage points, respectively.

In value terms, the largest electric brazing machine importing markets in ECOWAS were Nigeria ($X), Ghana ($X) and Cabo Verde ($X), with a combined X% share of total imports. Senegal and Gambia lagged somewhat behind, together accounting for a further X%.

Senegal, with a CAGR of X%, recorded the highest growth rate of the value of imports, among the main importing countries over the period under review, while purchases for the other leaders experienced mixed trends in the imports figures.

Import Prices by Country

The import price in ECOWAS stood at $X per unit in 2023, dropping by X% against the previous year. In general, the import price saw a deep setback. The pace of growth was the most pronounced in 2014 when the import price increased by X%. The level of import peaked at $X per unit in 2017; however, from 2018 to 2023, 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 Senegal ($X per unit), while Ghana ($X per unit) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Senegal (X%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform