ECOWAS: Hydraulic Automatic Regulators Market 2024

Hydraulic Automatic Regulators Market Size in ECOWAS

The ECOWAS hydraulic automatic regulators market declined slightly to $X in 2023, shrinking by X% against the previous year. The total consumption indicated resilient growth from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, consumption increased by X% against 2021 indices. The level of consumption peaked at $X in 2020; however, from 2021 to 2023, consumption failed to regain momentum.

Hydraulic Automatic Regulators Production in ECOWAS

In value terms, hydraulic automatic regulators production shrank to $X in 2023 estimated in export price. The total production indicated a strong expansion from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, production increased by X% against 2021 indices. The most prominent rate of growth was recorded in 2014 with an increase of X%. Over the period under review, production attained the maximum level at $X in 2020; however, from 2021 to 2023, production remained at a lower figure.

Hydraulic Automatic Regulators Exports

Exports in ECOWAS

In 2023, the amount of hydraulic or pneumatic automatic regulating instruments exported in ECOWAS skyrocketed to X units, rising by X% compared with 2022. Over the period under review, exports, however, continue to indicate a dramatic decrease. The pace of growth was the most pronounced in 2016 when exports increased by X%. As a result, the exports attained the peak of X units. From 2017 to 2023, the growth of the exports remained at a somewhat lower figure.

In value terms, hydraulic automatic regulators exports soared to $X in 2023. In general, exports, however, continue to indicate a mild reduction. The pace of growth was the most pronounced in 2013 when exports increased by X%. Over the period under review, the exports reached the peak figure at $X in 2016; however, from 2017 to 2023, the exports failed to regain momentum.

Exports by Country

Ghana was the largest exporter of hydraulic or pneumatic automatic regulating instruments in ECOWAS, with the volume of exports resulting at X units, which was approx. X% of total exports in 2023. It was distantly followed by Cote d'Ivoire (X units), achieving a X% share of total exports. Nigeria (X units) took a minor share of total exports.

Ghana was also the fastest-growing in terms of the hydraulic or pneumatic automatic regulating instruments exports, with a CAGR of X% from 2012 to 2023. Cote d'Ivoire experienced a relatively flat trend pattern. Nigeria (X%) illustrated a downward trend over the same period. Ghana (X p.p.) and Cote d'Ivoire (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, Ghana ($X) emerged as the largest hydraulic automatic regulators supplier in ECOWAS, comprising X% of total exports. The second position in the ranking was held by Cote d'Ivoire ($X), with a X% share of total exports.

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

Export Prices by Country

The export price in ECOWAS stood at $X per unit in 2023, which is down by X% against the previous year. In general, the export price, however, saw a significant expansion. The most prominent rate of growth was recorded in 2017 an increase of X% against the previous year. The level of export peaked at $X per unit in 2021; however, from 2022 to 2023, 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 Nigeria ($X per unit), while Ghana ($X per unit) was amongst the lowest.

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

Hydraulic Automatic Regulators Imports

Imports in ECOWAS

In 2023, approx. X units of hydraulic or pneumatic automatic regulating instruments were imported in ECOWAS; growing by X% on 2022. Over the period under review, imports recorded a resilient expansion. The pace of growth was the most pronounced in 2016 with an increase of X%. The volume of import peaked in 2023 and is expected to retain growth in years to come.

In value terms, hydraulic automatic regulators imports contracted slightly to $X in 2023. Overall, imports recorded resilient growth. The most prominent rate of growth was recorded in 2016 when imports increased by X%. As a result, imports attained the peak of $X. From 2017 to 2023, the growth of imports remained at a somewhat lower figure.

Imports by Country

Benin represented the major importer of hydraulic or pneumatic automatic regulating instruments in ECOWAS, with the volume of imports finishing at X units, which was approx. X% of total imports in 2023. Burkina Faso (X units) took a X% share (based on physical terms) of total imports, which put it in second place, followed by Nigeria (X%), Cote d'Ivoire (X%) and Guinea (X%). Senegal (X units) and Mali (X units) followed a long way behind the leaders.

Benin was also the fastest-growing in terms of the hydraulic or pneumatic automatic regulating instruments imports, with a CAGR of X% from 2012 to 2023. At the same time, Guinea (X%), Mali (X%), Senegal (X%), Cote d'Ivoire (X%), Burkina Faso (X%) and Nigeria (X%) displayed positive paces of growth. While the share of Benin (X p.p.), Guinea (X p.p.), Cote d'Ivoire (X p.p.) and Senegal (X p.p.) increased significantly in terms of the total imports from 2012-2023, the share of Nigeria (X p.p.) and Burkina Faso (X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Nigeria ($X) constitutes the largest market for imported hydraulic or pneumatic automatic regulating instruments in ECOWAS, comprising X% of total imports. The second position in the ranking was held by Cote d'Ivoire ($X), with a X% share of total imports. It was followed by Guinea, with a X% share.

In Nigeria, hydraulic automatic regulators imports increased at an average annual rate of X% over the period from 2012-2023. In the other countries, the average annual rates were as follows: Cote d'Ivoire (X% per year) and Guinea (X% per year).

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 showed a abrupt decrease. The pace of growth was the most pronounced in 2018 when the import price increased by X% against the previous year. Over the period under review, import prices reached the maximum at $X per unit in 2014; however, from 2015 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 Nigeria ($X per unit), while Benin ($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%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform