Cameroon: Jacks And Hoists Market 2024

Jacks And Hoists Market Size in Cameroon

The Cameroonian jacks and hoists market fell to $X in 2022, with a decrease of -13.5% 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). In general, consumption, however, enjoyed a remarkable increase. Over the period under review, the market reached the peak level at $X in 2015; however, from 2016 to 2022, consumption stood at a somewhat lower figure.

Jacks And Hoists Exports

Exports from Cameroon

Jacks and hoists exports from Cameroon declined notably to X units in 2022, falling by -18.2% against the previous year. Over the period under review, exports recorded a precipitous descent. The growth pace was the most rapid in 2020 with an increase of 900% against the previous year. Over the period under review, the exports attained the peak figure at X units in 2018; however, from 2019 to 2022, the exports stood at a somewhat lower figure.

In value terms, jacks and hoists exports shrank significantly to $X in 2022. Overall, exports faced a significant contraction. The most prominent rate of growth was recorded in 2020 when exports increased by 4,484%. Over the period under review, the exports hit record highs at $X in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Ghana (X units), Cote d'Ivoire (X units) and Equatorial Guinea (X units) were the main destinations of jacks and hoists exports from Cameroon, with a combined 33% share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Cote d'Ivoire (with a CAGR of 0.0%), while the other leaders experienced mixed trend patterns.

In value terms, Equatorial Guinea ($X) remains the key foreign market for jacks and hoists for raising vehicles exports from Cameroon, comprising 56% of total exports. The second position in the ranking was taken by Ghana ($X), with a 24% share of total exports. It was followed by Cote d'Ivoire, with a 13% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Equatorial Guinea amounted to -36.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Ghana (-31.6% per year) and Cote d'Ivoire (+10.6% per year).

Export Prices by Country

The average jacks and hoists export price stood at $X per unit in 2022, approximately equating the previous year. Overall, the export price showed a dramatic downturn. The most prominent rate of growth was recorded in 2020 when the average export price increased by 358%. Over the period under review, the average export prices reached the maximum at $X per unit in 2012; however, from 2013 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 Equatorial Guinea ($X per unit), while the average price for exports to Italy ($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 Cote d'Ivoire (+10.6%), while the prices for the other major destinations experienced a decline.

Jacks And Hoists Imports

Imports into Cameroon

In 2022, supplies from abroad of jacks and hoists for raising vehicles decreased by -23.1% to X units, falling for the second year in a row after two years of growth. In general, imports, however, enjoyed strong growth. The pace of growth appeared the most rapid in 2013 when imports increased by 354%. Imports peaked at X units in 2015; however, from 2016 to 2022, imports failed to regain momentum.

In value terms, jacks and hoists imports reduced slightly to $X in 2022. Over the period under review, imports, however, enjoyed a modest increase. The most prominent rate of growth was recorded in 2013 with an increase of 191% against the previous year. Over the period under review, imports reached the peak figure at $X in 2015; however, from 2016 to 2022, imports stood at a somewhat lower figure.

Imports by Country

The United States (X units), Italy (X units) and France (X units) were the main suppliers of jacks and hoists imports to Cameroon, together accounting for 42% of total imports. Norway, China, Japan, Lebanon, Hungary, Portugal, the UK, Spain, Congo and Germany lagged somewhat behind, together accounting for a further 36%.

From 2012 to 2022, the biggest increases were recorded for Norway (with a CAGR of +51.8%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, France ($X), Italy ($X) and Norway ($X) appeared to be the largest jacks and hoists suppliers to Cameroon, with a combined 40% share of total imports.

Norway, with a CAGR of +81.9%, recorded the highest growth rate of the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average jacks and hoists import price amounted to $X per unit, rising by 25% against the previous year. Over the period under review, the import price, however, recorded a abrupt slump. The growth pace was the most rapid in 2016 when the average import price increased by 62%. The import price peaked at $X per unit in 2012; however, from 2013 to 2022, import prices stood at a somewhat lower figure.

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 France ($X per unit), while the price for the United States ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Norway (+19.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform