ECOWAS: Electroplating Machine Market 2024

Electroplating Machine Market Size in ECOWAS

The ECOWAS electroplating machine market plummeted to $X in 2023, reducing by X% against the previous year. Overall, consumption, however, showed a deep reduction. Over the period under review, the market hit record highs at $X in 2012; however, from 2013 to 2023, consumption stood at a somewhat lower figure.

Electroplating Machine Production in ECOWAS

In value terms, electroplating machine production expanded notably to $X in 2023 estimated in export price. Over the period under review, production, however, recorded a slight slump. The most prominent rate of growth was recorded in 2019 with an increase of X% against the previous year. The level of production peaked at $X in 2017; however, from 2018 to 2023, production failed to regain momentum.

Electroplating Machine Exports

Exports in ECOWAS

In 2023, approx. X units of machines for electroplating, electrolysis or electrophoresis were exported in ECOWAS; increasing by X% on the year before. Overall, exports continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2015 when exports increased by X%. As a result, the exports attained the peak of X units. From 2016 to 2023, the growth of the exports remained at a somewhat lower figure.

In value terms, electroplating machine exports soared to $X in 2023. Over the period under review, exports, however, continue to indicate a deep contraction. The growth pace was the most rapid in 2021 with an increase of X%. The level of export peaked at $X in 2012; however, from 2013 to 2023, the exports stood at a somewhat lower figure.

Exports by Country

Nigeria was the main exporting country with an export of around X units, which accounted for X% of total exports. It was distantly followed by Ghana (X units), generating a X% share of total exports.

Nigeria was also the fastest-growing in terms of the machines for electroplating, electrolysis or electrophoresis exports, with a CAGR of X% from 2012 to 2023. Ghana (X%) illustrated a downward trend over the same period. 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.

In value terms, Nigeria ($X) remains the largest electroplating machine supplier in ECOWAS, comprising X% of total exports. The second position in the ranking was taken by Ghana ($X), with a X% share of total exports.

From 2012 to 2023, the average annual rate of growth in terms of value in Nigeria totaled X%.

Export Prices by Country

The export price in ECOWAS stood at $X per unit in 2023, with an increase of X% against the previous year. Over the period under review, the export price, however, continues to indicate a dramatic setback. The pace of growth appeared the most rapid in 2016 an increase of X%. The level of export peaked at $X per unit in 2013; however, from 2014 to 2023, the export prices remained at a lower figure.

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 Nigeria ($X per unit), while Ghana amounted to $X per unit.

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

Electroplating Machine Imports

Imports in ECOWAS

In 2023, after two years of decline, there was significant growth in supplies from abroad of machines for electroplating, electrolysis or electrophoresis, when their volume increased by X% to X units. Overall, imports recorded resilient growth. The pace of growth appeared the most rapid in 2020 when imports increased by X%. As a result, imports attained the peak of X units. From 2021 to 2023, the growth of imports failed to regain momentum.

In value terms, electroplating machine imports plummeted to $X in 2023. In general, imports saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 when imports increased by X%. Over the period under review, imports reached the maximum at $X in 2022, and then shrank dramatically in the following year.

Imports by Country

In 2023, Burkina Faso (X units) represented the largest importer of machines for electroplating, electrolysis or electrophoresis, constituting X% of total imports. Cote d'Ivoire (X units) ranks second in terms of the total imports with an X% share, followed by Senegal (X%). Mali (X units), Ghana (X units), Benin (X units) and Cabo Verde (X units) followed a long way behind the leaders.

Burkina Faso was also the fastest-growing in terms of the machines for electroplating, electrolysis or electrophoresis imports, with a CAGR of X% from 2012 to 2023. At the same time, Mali (X%), Cabo Verde (X%), Cote d'Ivoire (X%), Senegal (X%) and Ghana (X%) displayed positive paces of growth. By contrast, Benin (X%) illustrated a downward trend over the same period. While the share of Burkina Faso (X p.p.), Cote d'Ivoire (X p.p.), Mali (X p.p.), Benin (X p.p.) and Cabo Verde (X p.p.) increased significantly in terms of the total imports from 2012-2023, the share of Ghana (X p.p.) and Senegal (X p.p.) displayed negative dynamics.

In value terms, the largest electroplating machine importing markets in ECOWAS were Burkina Faso ($X), Cote d'Ivoire ($X) and Ghana ($X), with a combined X% share of total imports. Senegal, Benin, Mali and Cabo Verde lagged somewhat behind, together accounting for a further X%.

Mali, with a CAGR of X%, recorded the highest growth rate of the value of imports, in terms of the main importing countries 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, dropping by X% against the previous year. Overall, the import price continues to indicate a deep contraction. The most prominent rate of growth was recorded in 2019 an increase of X% against the previous year. The level of import peaked at $X per unit in 2012; however, from 2013 to 2023, import prices remained at a lower figure.

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