Western Africa - Tankers - Market Analysis, Forecast, Size, Trends and Insights
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View PricingWestern Africa: Tanker Market 2024
Tanker Market Size in Western Africa
In 2023, the West African tanker market decreased by X% to $X for the first time since 2020, thus ending a two-year rising trend. In general, consumption, however, enjoyed buoyant growth. Over the period under review, the market reached the maximum level at $X in 2022, and then shrank in the following year.
Tanker Production in Western Africa
In value terms, tanker production totaled $X in 2023 estimated in export price. Over the period under review, production recorded a deep downturn. The growth pace was the most rapid in 2021 with an increase of X%. As a result, production attained the peak level of $X. From 2022 to 2023, production growth failed to regain momentum.
Tanker Exports
Exports in Western Africa
In 2023, shipments abroad of tankers decreased by X% to X units, falling for the second consecutive year after two years of growth. Overall, exports showed a abrupt decrease. The most prominent rate of growth was recorded in 2021 when exports increased by 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 failed to regain momentum.
In value terms, tanker exports skyrocketed to $X in 2023. In general, exports recorded a mild decline. The pace of growth was the most pronounced in 2018 when exports increased by X%. Over the period under review, the exports attained the maximum at $X in 2013; however, from 2014 to 2023, the exports failed to regain momentum.
Exports by Country
Liberia represented the key exporting country with an export of around X units, which accounted for X% of total exports. Ghana (X units) took the second position in the ranking, followed by Nigeria (X units). All these countries together held near X% share of total exports.
From 2012 to 2023, the most notable rate of growth in terms of shipments, amongst the leading exporting countries, was attained by Nigeria (with a CAGR of X%), while the other leaders experienced a decline in the exports figures.
In value terms, Liberia ($X) remains the largest tanker supplier in Western Africa, comprising X% of total exports. The second position in the ranking was held by Nigeria ($X), with a X% share of total exports.
From 2012 to 2023, the average annual growth rate of value in Liberia was relatively modest. The remaining exporting countries recorded the following average annual rates of exports growth: Nigeria (X% per year) and Ghana (X% per year).
Export Prices by Country
In 2023, the export price in Western Africa amounted to $X,097 per unit, with an increase of X% against the previous year. Overall, the export price continues to indicate a prominent increase. The growth pace was the most rapid in 2022 when the export price increased by X%. The level of export peaked in 2023 and is likely to see steady growth in the near future.
There were significant differences in the average prices amongst the major exporting countries. In 2023, amid the top suppliers, the country with the highest price was Liberia ($X,922 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 mixed trends in the export price figures.
Tanker Imports
Imports in Western Africa
After two years of growth, supplies from abroad of tankers decreased by X% to X units in 2023. Total imports indicated slight growth from 2012 to 2023: its volume 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. The pace of growth appeared the most rapid in 2018 when imports increased by X% against the previous year. Over the period under review, imports hit record highs at X units in 2022, and then declined in the following year.
In value terms, tanker imports declined to $X in 2023. In general, imports, however, saw a prominent increase. The pace of growth was the most pronounced in 2016 when imports increased by X% against the previous year. Over the period under review, imports attained the maximum at $X in 2022, and then declined in the following year.
Imports by Country
Liberia represented the largest importer of tankers in Western Africa, with the volume of imports accounting for X units, which was approx. X% of total imports in 2023. Nigeria (X units) ranks second in terms of the total imports with a X% share, followed by Ghana (X%). Sierra Leone (X units) held a relatively small share of total imports.
Liberia was also the fastest-growing in terms of the tankers imports, with a CAGR of X% from 2012 to 2023. At the same time, Sierra Leone (X%) displayed positive paces of growth. By contrast, Nigeria (X%) and Ghana (X%) illustrated a downward trend over the same period. From 2012 to 2023, the share of Liberia increased by X percentage points. The shares of the other countries remained relatively stable throughout the analyzed period.
In value terms, Liberia ($X) constitutes the largest market for imported tankers in Western Africa, comprising X% of total imports. The second position in the ranking was held by Nigeria ($X), with a X% share of total imports. It was followed by Sierra Leone, with less than X% share.
In Liberia, tanker 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: Nigeria (X% per year) and Sierra Leone (X% per year).
Import Prices by Country
In 2023, the import price in Western Africa amounted to $X,364 per unit, with a decrease of X% against the previous year. Import price indicated a notable increase from 2012 to 2023: its price 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, tanker import price increased by X% against 2021 indices. The pace of growth was the most pronounced in 2016 an increase of X%. Over the period under review, import prices attained the maximum at $X,217 per unit in 2022, and then declined in the following year.
There were significant differences in the average prices amongst the major importing countries. In 2023, amid the top importers, the country with the highest price was Liberia ($X,540 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 mixed trends in the import price figures.
Source: IndexBox Platform
This report provides an in-depth analysis of the tanker market in Western Africa. 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 30112210 - Crude oil tankers
- Prodcom 30112230 - Oil product tankers
- Prodcom 30112250 - Chemical tankers
- Prodcom 30112270 - Gas carriers
Country coverage:
- Benin
- Burkina Faso
- Cabo Verde
- Cote d'Ivoire
- Gambia
- Ghana
- Guinea
- Guinea-Bissau
- Liberia
- Mali
- Mauritania
- Niger
- Nigeria
- Saint Helena, Ascension and Tristan da Cunha
- Senegal
- Sierra Leone
- Togo
Data coverage:
- Market volume and value
- Per Capita consumption
- Forecast of the market dynamics in the medium term
- Production in Western Africa, split by region and country
- Trade (exports and imports) in Western Africa
- 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
-
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
- Mauritania
- Niger
- Nigeria
- Saint Helena, Ascension and Tristan da Cunha
- 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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