The West African crane market fell -X% to $X in 2020, falling for the second consecutive year after three years of growth. Overall, consumption recorded a marked decline. The most significant growth rate occurred in 2013, when the market value increased by X% over the previous year. Consumption levels peaked at $X in 2008; however, from 2009 to 2020, consumption levels have been low.
In value terms, crane production in 2020 contracted slightly to $X at export prices. Overall, production continued to decline significantly. In 2008, the growth rate was the fastest, with an increase of X% year-on-year. As a result, production reached a peak level of X dollars. Production growth remained low from 2009 to 2020.
Nigeria (X units) is the country with the largest crane production, accounting for X% of total production. In addition, Nigeria’s crane production exceeded the number recorded by the second largest producer, Côte d’Ivoire (X units). In third place is Burkina Faso (X units) with an X% share. From 2007 to 2020, Nigeria's average annual growth rate totaled +X%. Average annual production growth rates for the remaining producing countries are as follows: Côte d'Ivoire (+X% per annum) and Burkina Faso (+X% per annum).
After two years of decline, overseas shipments of cranes increased significantly in 2020, with sales rising by X% to X units. Overall, exports showed strong growth. As a result, exports peaked and may continue to grow in the short term.
In terms of value, crane exports surged to $X in 2020. Exports contracted significantly during the review period. During the period under review, exports hit an all-time high of $X in 2007; however, from 2008 to 2020, exports have been at lower levels.
Nigeria dominates the crane export structure, reaching X units, approx. X% of total exports in 2020. Benin follows (X units) with X% of total exports. From 2007 to 2020, Nigeria's exports have grown at an average annual rate of +X%. Meanwhile, Benin (+X%) showed positive growth. In addition, Benin became the fastest growing exporter in West Africa with a CAGR of +X% from 2007-2020. Nigeria (+X pp) and Benin (+X pp) have significantly strengthened their positions in total exports, while the shares of other countries have remained relatively stable throughout the analysis period.
Nigeria ($X) emerged as the largest crane supplier in West Africa by value, accounting for X% of total exports. In second place is Benin ($X) with X% of total exports. In Nigeria, crane exports grew at an average annual rate of +X% between 2007 and 2020.
In 2020, the number of cranes imported from West Africa soared to X units, an increase of X% over 2019 figures. During the period under review, imports recorded strong growth. The most significant growth rate occurred in 2014, with an X% year-over-year increase. As a result, imports peaked at X units. Import growth failed to regain momentum between 2015 and 2020.
Crane imports surged to $X in 2020 by value. Overall, imports rose slightly. Therefore, imports have peaked and may continue to grow in the short term.
In 2020, Togo (X units), Nigeria (X units) and Benin (X units) accounted for approximately X% of total crane imports. It was followed by Guinea-Bissau (X units) and Ghana (X units), which together accounted for X% of total imports.
The following importing countries – Côte d’Ivoire (X units) and Senegal (X units) – each accounted for X% of total imports.
From 2007 to 2020, among the major importing countries, Togo experienced the most significant increase in purchases, while the other major importing countries experienced more moderate import growth rates.
Nigeria ($X) is West Africa's largest market for imports of derricks, cranes, mobile crane frames, straddle carriers and crane-equipped work trucks by value, accounting for X% of total imports. In second place is Côte d'Ivoire ($X) with X% of total imports. It was followed by Senegal with an X% share.
Average annual value growth in Nigeria from 2007 to 2020 was relatively modest. The average annual growth rates of imports for the remaining importing countries are as follows: Côte d'Ivoire (+X% per annum) and Senegal (+X% per annum).
Nigeria ($18 million) became the largest crane supplier in West Africa by value, accounting for 49% of total exports. In second place is Benin ($7.9 million), which accounted for 22% of total exports.
Nigeria ($180 million) was West Africa's largest market for imports of derricks, cranes, mobile derricks, straddle carriers and crane-equipped work trucks by value, accounting for 62% of total imports. In second place is Côte d'Ivoire ($30 million) with 10% of total imports. It was followed by Senegal with a share of 5.9%.
The import price of cranes in West Africa in 2020 was US$49,955 per unit, a year-on-year increase of 5.3%.
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