ECOWAS: Refrigerator And Freezer Market 2024

Refrigerator And Freezer Market Size in ECOWAS

The ECOWAS refrigerator and freezer market totaled $X in 2022, standing approx. at the previous year. The total consumption indicated a notable expansion from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by X% against 2020 indices. The level of consumption peaked at $X in 2020; however, from 2021 to 2022, consumption failed to regain momentum.

Refrigerator And Freezer Production in ECOWAS

In value terms, refrigerator and freezer production dropped to $X in 2022 estimated in export price. Over the period under review, production, however, saw a buoyant increase. The pace of growth was the most pronounced in 2017 when the production volume increased by X% against the previous year. Over the period under review, production attained the maximum level at $X in 2019; however, from 2020 to 2022, production remained at a lower figure.

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Refrigerator And Freezer Exports

Exports in ECOWAS

In 2022, exports of refrigerators and freezers in ECOWAS totaled X units, approximately equating the previous year's figure. In general, exports, however, saw a pronounced reduction. The growth pace was the most rapid in 2016 with an increase of X%. As a result, the exports reached the peak of X units. From 2017 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, refrigerator and freezer exports rose significantly to $X in 2022. Over the period under review, exports, however, continue to indicate a pronounced contraction. The growth pace was the most rapid in 2013 when exports increased by X%. As a result, the exports reached the peak of $X. From 2014 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

Senegal represented the main exporting country with an export of about X units, which recorded X% of total exports. Togo (X units) took the second position in the ranking, followed by Ghana (X units), Cote d'Ivoire (X units), Niger (X units), Burkina Faso (X units) and Sierra Leone (X units). All these countries together held approx. X% share of total exports.

Exports from Senegal increased at an average annual rate of X% from 2012 to 2022. At the same time, Togo (X%), Burkina Faso (X%), Niger (X%) and Sierra Leone (X%) displayed positive paces of growth. Moreover, Togo emerged as the fastest-growing exporter exported in ECOWAS, with a CAGR of X% from 2012-2022. By contrast, Cote d'Ivoire (X%) and Ghana (X%) illustrated a downward trend over the same period. Senegal (X p.p.), Togo (X p.p.), Niger (X p.p.), Burkina Faso (X p.p.) and Sierra Leone (X p.p.) significantly strengthened its position in terms of the total exports, while Ghana saw its share reduced by X% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Senegal ($X) remains the largest refrigerator and freezer supplier in ECOWAS, comprising X% of total exports. The second position in the ranking was taken by Togo ($X), with a X% share of total exports. It was followed by Niger, with an X% share.

In Senegal, refrigerator and freezer exports increased at an average annual rate of X% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Togo (X% per year) and Niger (X% per year).

Export Prices by Country

The export price in ECOWAS stood at $X per unit in 2022, with an increase of X% against the previous year. Over the period under review, the export price showed a relatively flat trend pattern. The growth pace was the most rapid in 2017 when the export price increased by X%. Over the period under review, the export prices reached the peak figure in 2022 and is expected to retain growth in the near future.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Niger ($X per unit), while Ghana ($X per unit) was amongst the lowest.

From 2012 to 2022, 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.

Refrigerator And Freezer Imports

Imports in ECOWAS

In 2022, purchases abroad of refrigerators and freezers decreased by X% to X units, falling for the second year in a row after three years of growth. Over the period under review, imports, however, showed a strong expansion. The growth pace was the most rapid in 2019 when imports increased by X% against the previous year. The volume of import peaked at X units in 2020; however, from 2021 to 2022, imports failed to regain momentum.

In value terms, refrigerator and freezer imports totaled $X in 2022. Total imports indicated a noticeable expansion from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports decreased by X% against 2020 indices. The growth pace was the most rapid in 2019 with an increase of X%. The level of import peaked at $X in 2020; however, from 2021 to 2022, imports remained at a lower figure.

Imports by Country

Ghana (X units) and Nigeria (X units) prevails in imports structure, together creating X% of total imports. It was distantly followed by Cote d'Ivoire (X units), achieving a X% share of total imports. Senegal (X units), Guinea (X units), Mali (X units), Sierra Leone (X units) and Burkina Faso (X units) followed a long way behind the leaders.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by Ghana (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Nigeria ($X) constitutes the largest market for imported refrigerators and freezers in ECOWAS, comprising X% of total imports. The second position in the ranking was held by Ghana ($X), with a X% share of total imports. It was followed by Cote d'Ivoire, with an X% share.

From 2012 to 2022, the average annual growth rate of value in Nigeria was relatively modest. The remaining importing countries recorded the following average annual rates of imports growth: Ghana (X% per year) and Cote d'Ivoire (X% per year).

Import Prices by Country

The import price in ECOWAS stood at $X per unit in 2022, picking up by X% against the previous year. Over the period under review, the import price, however, showed a noticeable setback. The most prominent rate of growth was recorded in 2014 an increase of X%. As a result, import price attained the peak level of $X per unit. From 2015 to 2022, the 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 Cote d'Ivoire ($X per unit), while Guinea ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Cote d'Ivoire (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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