Western Africa: Market for Drive-Axles with Differential and Non-Driving Axles 2024

Market Size for Drive-Axles with Differential and Non-Driving Axles in Western Africa

The West African driving and non-driving axle market contracted modestly to $X in 2022, which is down by X% against the previous year. The total consumption indicated a buoyant 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 2020 indices. Over the period under review, the market hit record highs at $X in 2018; however, from 2019 to 2022, consumption failed to regain momentum.

Production of Drive-Axles with Differential and Non-Driving Axles in Western Africa

In value terms, driving and non-driving axle production dropped modestly to $X in 2022 estimated in export price. In general, production, however, saw a resilient increase. The growth pace was the most rapid in 2016 when the production volume increased by X%. The level of production peaked at $X in 2018; however, from 2019 to 2022, production remained at a lower figure.

Exports of Drive-Axles with Differential and Non-Driving Axles

Exports in Western Africa

In 2022, shipments abroad of drive-axles with differential and non-driving axles increased by X% to X tons, rising for the second year in a row after two years of decline. In general, exports saw a resilient expansion. The pace of growth appeared the most rapid in 2018 with an increase of X%. As a result, the exports attained the peak of X tons. From 2019 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, driving and non-driving axle exports soared to $X in 2022. Over the period under review, exports continue to indicate a prominent expansion. The most prominent rate of growth was recorded in 2018 when exports increased by X%. As a result, the exports reached the peak of $X. From 2019 to 2022, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Burkina Faso (X tons) and Cote d'Ivoire (X tons) represented roughly X% of total exports in 2022. Ghana (X tons) ranks next in terms of the total exports with a X% share, followed by Liberia (X%).

From 2012 to 2022, the biggest increases were recorded for Cote d'Ivoire (with a CAGR of X%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Burkina Faso ($X) emerged as the largest driving and non-driving axle supplier in Western Africa, comprising X% of total exports. The second position in the ranking was held by Cote d'Ivoire ($X), with a X% share of total exports. It was followed by Ghana, with a X% share.

In Burkina Faso, driving and non-driving axle exports increased at an average annual rate of X% over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: Cote d'Ivoire (X% per year) and Ghana (X% per year).

Export Prices by Country

In 2022, the export price in Western Africa amounted to $X per ton, increasing by X% against the previous year. In general, the export price enjoyed prominent growth. The most prominent rate of growth was recorded in 2015 an increase of X%. The level of export peaked at $X per ton in 2018; however, from 2019 to 2022, the export prices failed to regain momentum.

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 Burkina Faso ($X per ton), while Liberia ($X per ton) was amongst the lowest.

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

Imports of Drive-Axles with Differential and Non-Driving Axles

Imports in Western Africa

In 2022, purchases abroad of drive-axles with differential and non-driving axles decreased by X% to X tons, falling for the second consecutive year after three years of growth. Overall, imports, however, recorded tangible growth. The most prominent rate of growth was recorded in 2016 with an increase of X%. The volume of import peaked at X tons in 2020; however, from 2021 to 2022, imports remained at a lower figure.

In value terms, driving and non-driving axle imports fell modestly to $X in 2022. Over the period under review, imports, however, showed a prominent expansion. The growth pace was the most rapid in 2013 with an increase of X%. As a result, imports attained the peak of $X. From 2014 to 2022, the growth of imports remained at a somewhat lower figure.

Imports by Country

Nigeria was the key importer of drive-axles with differential and non-driving axles in Western Africa, with the volume of imports reaching X tons, which was approx. X% of total imports in 2022. Ghana (X tons) ranks second in terms of the total imports with an X% share, followed by Mauritania (X%), Burkina Faso (X%) and Cote d'Ivoire (X%). The following importers - Guinea (X tons) and Senegal (X tons) - each finished at a X% share of total imports.

Nigeria experienced a relatively flat trend pattern with regard to volume of imports of drive-axles with differential and non-driving axles. At the same time, Mauritania (X%), Burkina Faso (X%), Guinea (X%), Cote d'Ivoire (X%) and Ghana (X%) displayed positive paces of growth. Moreover, Mauritania emerged as the fastest-growing importer imported in Western Africa, with a CAGR of X% from 2012-2022. By contrast, Senegal (X%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Mauritania, Burkina Faso, Ghana, Cote d'Ivoire and Guinea increased by X, X, X, X and X percentage points, respectively.

In value terms, Nigeria ($X), Ghana ($X) and Guinea ($X) were the countries with the highest levels of imports in 2022, together comprising X% of total imports. Burkina Faso, Cote d'Ivoire, Senegal and Mauritania lagged somewhat behind, together comprising a further X%.

Burkina Faso, with a CAGR of X%, saw the highest rates of growth with regard to the value of imports, in terms of the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in Western Africa stood at $X per ton in 2022, growing by X% against the previous year. Overall, the import price showed a pronounced expansion. The most prominent rate of growth was recorded in 2013 when the import price increased by X%. As a result, import price reached the peak level of $X per ton. From 2014 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 Guinea ($X per ton), while Mauritania ($X per ton) 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 mixed trends in the import price figures.

Source: IndexBox Platform