Report Update May 21, 2024

ECOWAS - Sewing Machine Needles - Market Analysis, Forecast, Size, Trends and Insights

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ECOWAS: Sewing Machine Needle Market 2024

Sewing Machine Needle Market Size in ECOWAS

For the third consecutive year, the ECOWAS sewing machine needle market recorded decline in sales value, which decreased by X% to $X in 2023. In general, consumption, however, showed a resilient expansion. Over the period under review, the market hit record highs at $X in 2020; however, from 2021 to 2023, consumption failed to regain momentum.

Sewing Machine Needle Production in ECOWAS

In value terms, sewing machine needle production stood at $X in 2023 estimated in export price. In general, production, however, saw a abrupt shrinkage. The pace of growth was the most pronounced in 2014 with an increase of X% against the previous year. Over the period under review, production reached the peak level at $X in 2012; however, from 2013 to 2023, production stood at a somewhat lower figure.

Sewing Machine Needle Exports

Exports in ECOWAS

In 2023, approx. X units of sewing machine needles were exported in ECOWAS; growing by X% compared with the previous year's figure. In general, exports, however, showed a dramatic slump. The volume of export peaked at X units in 2013; however, from 2014 to 2023, the exports failed to regain momentum.

In value terms, sewing machine needle exports skyrocketed to $X in 2023. Overall, exports, however, showed a deep slump. Over the period under review, the exports attained the peak figure at $X in 2021; however, from 2022 to 2023, the exports stood at a somewhat lower figure.

Exports by Country

Gambia was the largest exporting country with an export of about X units, which accounted for X% of total exports. It was distantly followed by Senegal (X units), comprising a X% share of total exports. Nigeria (X units) took a little share of total exports.

Gambia experienced a relatively flat trend pattern with regard to volume of exports of sewing machine needles. Senegal (X%) and Nigeria (X%) illustrated a downward trend over the same period. While the share of Gambia (X p.p.) and Senegal (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 ($X) emerged as the largest sewing machine needle supplier in ECOWAS, comprising X% of total exports. The second position in the ranking was held by Senegal ($X), with a X% share of total exports.

In Gambia, sewing machine needle exports remained relatively stable over the period from 2012-2023. The remaining exporting countries recorded the following average annual rates of exports growth: Senegal (X% per year) and Nigeria (X% per year).

Export Prices by Country

The export price in ECOWAS stood at $X per thousand units in 2023, with an increase of X% against the previous year. Over the period under review, the export price posted strong growth. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

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 ($X per thousand units), while Senegal ($X per thousand units) 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.

Sewing Machine Needle Imports

Imports in ECOWAS

In 2023, approx. X units of sewing machine needles were imported in ECOWAS; dropping by X% on 2022. Overall, imports, however, saw a prominent expansion. The growth pace was the most rapid in 2015 when imports increased by X%. Over the period under review, imports attained the peak figure at X units in 2020; however, from 2021 to 2023, imports stood at a somewhat lower figure.

In value terms, sewing machine needle imports dropped significantly to $X in 2023. In general, imports recorded a deep setback. The pace of growth appeared the most rapid in 2013 with an increase of X% against the previous year. The level of import peaked at $X in 2015; however, from 2016 to 2023, imports stood at a somewhat lower figure.

Imports by Country

In 2023, Ghana (X units) and Nigeria (X units) was the main importer of sewing machine needles in ECOWAS, creating X% of total import.

From 2012 to 2023, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by Nigeria (with a CAGR of X%).

In value terms, Nigeria ($X) constitutes the largest market for imported sewing machine needles in ECOWAS, comprising X% of total imports. The second position in the ranking was taken by Ghana ($X), with an X% share of total imports.

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

Import Prices by Country

In 2023, the import price in ECOWAS amounted to $X per thousand units, with a decrease of X% against the previous year. In general, the import price showed a drastic downturn. The pace of growth was the most pronounced in 2013 an increase of X%. As a result, import price attained the peak level of $X per thousand units. From 2014 to 2023, 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 Nigeria ($X per thousand units), while Ghana totaled $X per thousand units.

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

Source: IndexBox Platform

This report provides an in-depth analysis of the sewing machine needle market in ECOWAS. 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 28945230 - Sewing machine needles

Country coverage:

Benin
Burkina Faso
Cabo Verde
Cote d'Ivoire
Gambia
Ghana
Guinea
Guinea-Bissau
Liberia
Mali
Niger
Nigeria
Senegal
Sierra Leone
Togo

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Production in ECOWAS, split by region and country
Trade (exports and imports) in ECOWAS
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.

1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business
1. REPORT DESCRIPTION
2. RESEARCH METHODOLOGY AND AI PLATFORM
3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
4. GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance
1. KEY FINDINGS
2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects
1. MARKET SIZE
2. CONSUMPTION BY COUNTRY
3. MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT

Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO
1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
2. BEST-SELLING PRODUCTS
3. MOST CONSUMED PRODUCT
4. MOST TRADED PRODUCT
5. MOST PROFITABLE PRODUCT FOR EXPORT
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
1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
2. TOP PRODUCING COUNTRIES
3. TOP EXPORTING COUNTRIES
4. LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO
1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
2. TOP CONSUMING MARKETS
3. UNSATURATED MARKETS
4. TOP IMPORTING MARKETS
5. MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION VOLUME AND VALUE
2. PRODUCTION BY COUNTRY
8. IMPORTS
The Largest Importers on The Market and How They Succeed
1. IMPORTS FROM 2012–2023
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Exporters on The Market and How They Succeed
1. EXPORTS FROM 2012–2023
2. EXPORTS BY COUNTRY
3. EXPORT PRICES BY COUNTRY
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
- Niger
- Nigeria
- Senegal
- Sierra Leone
- Togo
- Cote d'Ivoire
LIST OF TABLES
1. Key Findings In 2023
2. Market Volume, In Physical Terms, 2012–2023
3. Market Value, 2012–2023
4. Per Capita Consumption, By Country, 2018–2023
5. Production, In Physical Terms, By Country, 2012–2023
6. Imports, In Physical Terms, By Country, 2012–2023
7. Imports, In Value Terms, By Country, 2012–2023
8. Import Prices, By Country Of Destination, 2012–2023
9. Exports, In Physical Terms, By Country, 2012–2023
10. Exports, In Value Terms, By Country, 2012–2023
11. Export Prices, By Country Of Origin, 2012–2023
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2023
2. Market Value, 2012–2023
3. Consumption, By Country, 2023
4. Market Volume Forecast to 2030
5. Market Value Forecast to 2030
6. Products: Market Size And Growth, By Type
7. Products: Average Per Capita Consumption, By Type
8. Products: Exports And Growth, By Type
9. Products: Export Prices And Growth, By Type
10. Production Volume And Growth
11. Exports And Growth
12. Export Prices And Growth
13. Market Size And Growth
14. Per Capita Consumption
15. Imports And Growth
16. Import Prices
17. Production, In Physical Terms, 2012–2023
18. Production, In Value Terms, 2012–2023
19. Production, By Country, 2023
20. Production, In Physical Terms, By Country, 2012–2023
21. Imports, In Physical Terms, 2012–2023
22. Imports, In Value Terms, 2012–2023
23. Imports, In Physical Terms, By Country, 2023
24. Imports, In Physical Terms, By Country, 2012–2023
25. Imports, In Value Terms, By Country, 2012–2023
26. Import Prices, By Country, 2012–2023
27. Exports, In Physical Terms, 2012–2023
28. Exports, In Value Terms, 2012–2023
29. Exports, In Physical Terms, By Country, 2023
30. Exports, In Physical Terms, By Country, 2012–2023
31. Exports, In Value Terms, By Country, 2012–2023
32. Export Prices, 2012–2023