ECOWAS: Inflatable Vessel Market 2024

Inflatable Vessel Market Size in ECOWAS

The ECOWAS inflatable vessel market soared to $X in 2022, jumping by X% against the previous year. The total consumption indicated a temperate increase 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 increased by X% against 2017 indices. The level of consumption peaked in 2022 and is expected to retain growth in the immediate term.

Inflatable Vessel Production in ECOWAS

In value terms, inflatable vessel production rose to $X in 2022 estimated in export price. Over the period under review, production saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2018 with an increase of X%. Over the period under review, production hit record highs at $X in 2020; however, from 2021 to 2022, production failed to regain momentum.

Inflatable Vessel Exports

Exports in ECOWAS

For the third consecutive year, ECOWAS recorded decline in shipments abroad of inflatable vessels for pleasure or sports, which decreased by X% to X units in 2022. Overall, exports saw a sharp reduction. The growth pace was the most rapid in 2015 when exports increased by X%. Over the period under review, the exports attained the peak figure at X units in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

In value terms, inflatable vessel exports dropped to $X in 2022. Over the period under review, exports continue to indicate a precipitous curtailment. The growth pace was the most rapid in 2015 when exports increased by X%. Over the period under review, the exports reached the peak figure at $X in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Senegal dominates exports structure, finishing at X units, which was approx. X% of total exports in 2022. Cote d'Ivoire (X units) held a X% share (based on physical terms) of total exports, which put it in second place, followed by Nigeria (X%).

Senegal was also the fastest-growing in terms of the inflatable vessels for pleasure or sports exports, with a CAGR of X% from 2012 to 2022. Cote d'Ivoire (X%) and Nigeria (X%) illustrated a downward trend over the same period. Senegal (X p.p.) significantly strengthened its position in terms of the total exports, while Nigeria 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 ($X) remains the largest inflatable vessel supplier in ECOWAS, comprising X% of total exports. The second position in the ranking was taken by Cote d'Ivoire ($X), with a X% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value in Senegal amounted to X%. The remaining exporting countries recorded the following average annual rates of exports growth: Cote d'Ivoire (X% per year) and Nigeria (X% per year).

Export Prices by Country

In 2022, the export price in ECOWAS amounted to $X per unit, jumping by X% against the previous year. In general, the export price, however, showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2020 an increase of X%. The level of export peaked at $X per unit in 2014; however, from 2015 to 2022, the export prices stood at a somewhat lower figure.

Average prices varied somewhat amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Nigeria ($X per unit), while Cote d'Ivoire ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Cote d'Ivoire (X%), while the other leaders experienced mixed trends in the export price figures.

Inflatable Vessel Imports

Imports in ECOWAS

Inflatable vessel imports soared to X units in 2022, increasing by X% on the previous year's figure. In general, imports saw a significant expansion. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, inflatable vessel imports soared to $X in 2022. Overall, imports recorded a significant increase. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2022, Nigeria (X units) was the key importer of inflatable vessels for pleasure or sports, achieving X% of total imports. Ghana (X units) ranks second in terms of the total imports with a X% share, followed by Guinea (X%). Liberia (X units) followed a long way behind the leaders.

Imports into Nigeria increased at an average annual rate of X% from 2012 to 2022. At the same time, Liberia (X%), Ghana (X%) and Guinea (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 Nigeria, Ghana and Liberia increased by X, X and X percentage points, respectively.

In value terms, Nigeria ($X) constitutes the largest market for imported inflatable vessels for pleasure or sports in ECOWAS, comprising X% of total imports. The second position in the ranking was held by Ghana ($X), with a X% share of total imports. It was followed by Liberia, with a X% share.

From 2012 to 2022, the average annual growth rate of value in Nigeria stood at X%. In the other countries, the average annual rates were as follows: Ghana (X% per year) and Liberia (X% per year).

Import Prices by Country

The import price in ECOWAS stood at $X per unit in 2022, growing by X% against the previous year. Over the period under review, the import price showed a remarkable increase. The most prominent rate of growth was recorded in 2019 when the import price increased by X%. Over the period under review, import prices hit record highs in 2022 and is expected to retain growth in the immediate term.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Nigeria ($X per unit), while Guinea ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Nigeria (X%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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