ECOWAS: Test Bench Market 2024

Test Bench Market Size in ECOWAS

The ECOWAS test bench market expanded remarkably to $X.4B in 2022, picking up by X% against the previous year. In general, consumption recorded a remarkable increase. The level of consumption peaked at $X.7B in 2020; however, from 2021 to 2022, consumption stood at a somewhat lower figure.

Test Bench Production in ECOWAS

In value terms, test bench production amounted to $X.1B in 2022 estimated in export price. Over the period under review, production recorded a prominent expansion. The most prominent rate of growth was recorded in 2020 with an increase of X% against the previous year. As a result, production attained the peak level of $X.2B. From 2021 to 2022, production growth failed to regain momentum.

Test Bench Exports

Exports in ECOWAS

In 2022, overseas shipments of test benches increased by X% to X units, rising for the second consecutive year after three years of decline. Over the period under review, exports recorded prominent growth. The most prominent rate of growth was recorded in 2013 with an increase of X%. As a result, the exports reached the peak of X units. From 2014 to 2022, the growth of the exports remained at a lower figure.

In value terms, test bench exports surged to $X in 2022. In general, exports, however, recorded a abrupt slump. The most prominent rate of growth was recorded in 2014 with an increase of X% against the previous year. Over the period under review, the exports hit record highs at $X in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

Exports by Country

Burkina Faso prevails in exports structure, accounting for X units, which was near X% of total exports in 2022. It was distantly followed by Mali (X units), comprising an X% share of total exports. The following exporters - Cote d'Ivoire (X units), Senegal (X units) and Sierra Leone (X units) - each finished at a X% share of total exports.

Burkina Faso was also the fastest-growing in terms of the test benches exports, with a CAGR of X% from 2012 to 2022. At the same time, Mali (X%) displayed positive paces of growth. Cote d'Ivoire and Sierra Leone experienced a relatively flat trend pattern. By contrast, Senegal (X%) illustrated a downward trend over the same period. Burkina Faso (X p.p.), Mali (X p.p.) and Sierra Leone (X p.p.) significantly strengthened its position in terms of the total exports, while Cote d'Ivoire and Senegal saw its share reduced by X% and X% from 2012 to 2022, respectively.

In value terms, Mali ($X), Cote d'Ivoire ($X) and Sierra Leone ($X) constituted the countries with the highest levels of exports in 2022, with a combined X% share of total exports.

Sierra Leone, with a CAGR of X%, saw the highest rates of growth with regard to the value of exports, among the main exporting countries over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The export price in ECOWAS stood at $X per unit in 2022, shrinking by X% against the previous year. In general, the export price recorded a abrupt decline. The growth pace was the most rapid in 2014 an increase of X% against the previous year. The level of export peaked at $X per unit in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Cote d'Ivoire ($X per unit), while Burkina Faso ($X per unit) was amongst the lowest.

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

Test Bench Imports

Imports in ECOWAS

In 2022, approx. X units of test benches were imported in ECOWAS; increasing by X% compared with the previous year's figure. In general, imports posted a prominent increase. The pace of growth appeared the most rapid in 2020 when imports increased by X% against the previous year. As a result, imports reached the peak of X units. From 2021 to 2022, the growth of imports remained at a lower figure.

In value terms, test bench imports shrank to $X in 2022. Over the period under review, imports continue to indicate a resilient expansion. The pace of growth appeared the most rapid in 2020 when imports increased by X%. As a result, imports attained the peak of $X. From 2021 to 2022, the growth of imports failed to regain momentum.

Imports by Country

In 2022, Nigeria (X units) represented the main importer of test benches, comprising X% of total imports. Ghana (X units) ranks second in terms of the total imports with a X% share, followed by Cote d'Ivoire (X%), Guinea (X%) and Liberia (X%). The following importers - Mali (X units) and Burkina Faso (X units) - together made up X% of total imports.

From 2012 to 2022, average annual rates of growth with regard to test bench imports into Nigeria stood at X%. At the same time, Liberia (X%), Guinea (X%), Cote d'Ivoire (X%), Ghana (X%), Mali (X%) and Burkina Faso (X%) displayed positive paces of growth. Moreover, Liberia emerged as the fastest-growing importer imported in ECOWAS, with a CAGR of X% from 2012-2022. From 2012 to 2022, the share of Ghana, Cote d'Ivoire, Liberia and Guinea increased by X, X, X and X percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest test bench importing markets in ECOWAS were Nigeria ($X), Ghana ($X) and Liberia ($X), together accounting for X% of total imports.

In terms of the main importing countries, Liberia, with a CAGR of X%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the import price in ECOWAS amounted to $X per unit, shrinking by X% against the previous year. Overall, the import price, however, recorded a resilient expansion. The growth pace was the most rapid in 2017 an increase of X%. Over the period under review, import prices reached the maximum at $X per unit in 2021, and then fell significantly in the following year.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Mali ($X per unit), while Cote d'Ivoire ($X per unit) was amongst the lowest.

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

Source: IndexBox Platform

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