Cameroon: Gear Box Market 2024

Gear Box Market Size in Cameroon

The Cameroonian gear box market dropped to $X in 2022, falling by -12% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Over the period under review, consumption, however, continues to indicate prominent growth. As a result, consumption attained the peak level of $X. From 2018 to 2022, the growth of the market remained at a somewhat lower figure.

Gear Box Exports

Exports from Cameroon

In 2022, shipments abroad of gear boxes decreased by -32.1% to X units for the first time since 2019, thus ending a two-year rising trend. Over the period under review, exports continue to indicate a abrupt shrinkage. The most prominent rate of growth was recorded in 2017 with an increase of 775%. The exports peaked at X units in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

In value terms, gear box exports shrank rapidly to $X in 2022. In general, exports showed a deep contraction. The most prominent rate of growth was recorded in 2017 when exports increased by 991%. As a result, the exports attained the peak of $X. From 2018 to 2022, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Belgium (X units), the United States (X units) and France (X units) were the main destinations of gear box exports from Cameroon, together comprising 61% of total exports.

From 2012 to 2022, the biggest increases were recorded for the United States (with a CAGR of +3.3%), while shipments for the other leaders experienced a decline.

In value terms, the United States ($X) remains the key foreign market for gear boxes exports from Cameroon, comprising 69% of total exports. The second position in the ranking was taken by France ($X), with a 23% share of total exports. It was followed by Congo, with a 2.1% share.

From 2012 to 2022, the average annual rate of growth in terms of value to the United States stood at +14.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: France (-6.7% per year) and Congo (-30.7% per year).

Export Prices by Country

In 2022, the average gear box export price amounted to $X per unit, increasing by 12% against the previous year. Over the period under review, export price indicated a buoyant expansion from 2012 to 2022: its price increased at an average annual rate of +6.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, gear box export price increased by +32.8% against 2020 indices. The pace of growth appeared the most rapid in 2017 when the average export price increased by 25% against the previous year. Over the period under review, the average export prices reached the peak figure at $X per unit in 2018; however, from 2019 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was the United States ($X per unit), while the average price for exports to Belgium ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the United States (+11.1%), while the prices for the other major destinations experienced more modest paces of growth.

Gear Box Imports

Imports into Cameroon

In 2022, the amount of gear boxes imported into Cameroon contracted markedly to X units, falling by -15.2% against the previous year's figure. Overall, imports, however, saw resilient growth. The pace of growth was the most pronounced in 2017 with an increase of 344%. As a result, imports reached the peak of X units. From 2018 to 2022, the growth of imports failed to regain momentum.

In value terms, gear box imports shrank to $X in 2022. Over the period under review, imports, however, showed a remarkable increase. The pace of growth appeared the most rapid in 2017 when imports increased by 387% against the previous year. As a result, imports attained the peak of $X. From 2018 to 2022, the growth of imports remained at a somewhat lower figure.

Imports by Country

In 2022, China (X units) constituted the largest supplier of gear box to Cameroon, with a 49% share of total imports. Moreover, gear box imports from China exceeded the figures recorded by the second-largest supplier, Nigeria (X units), sixfold. The third position in this ranking was taken by the United Arab Emirates (X units), with a 5.8% share.

From 2012 to 2022, the average annual growth rate of volume from China amounted to +58.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Nigeria (+47.1% per year) and the United Arab Emirates (+9.8% per year).

In value terms, China ($X), the United Arab Emirates ($X) and France ($X) appeared to be the largest gear box suppliers to Cameroon, together comprising 44% of total imports. Italy, Germany, South Africa, Switzerland, Nigeria, Japan, Greece and Belgium lagged somewhat behind, together accounting for a further 26%.

South Africa, with a CAGR of +65.3%, saw the highest growth rate of the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average gear box import price stood at $X per unit in 2022, increasing by 4.2% against the previous year. In general, import price indicated a buoyant increase from 2012 to 2022: its price increased at an average annual rate of +5.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, gear box import price increased by +123.6% against 2018 indices. The most prominent rate of growth was recorded in 2020 an increase of 35%. The import price peaked in 2022 and is expected to retain growth in the near future.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Germany ($X per unit), while the price for Nigeria ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (+35.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform