Cote d'Ivoire: Gear Box Market 2024

Gear Box Market Size in Cote d'Ivoire

The Cote d'Ivoire's gear box market skyrocketed to $X in 2022, with an increase of 56% 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 enjoyed a remarkable increase. Gear box consumption peaked at $X in 2020; however, from 2021 to 2022, consumption failed to regain momentum.

Gear Box Exports

Exports from Cote d'Ivoire

In 2022, overseas shipments of gear boxes were finally on the rise to reach X units after three years of decline. Overall, exports, however, showed a deep setback. The growth pace was the most rapid in 2018 when exports increased by 408%. As a result, the exports attained the peak of X units. From 2019 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, gear box exports skyrocketed to $X in 2022. Over the period under review, exports, however, continue to indicate a deep slump. The pace of growth appeared the most rapid in 2018 with an increase of 336% against the previous year. Over the period under review, the exports reached the maximum at $X in 2019; however, from 2020 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

The United States (X units) was the main destination for gear box exports from Cote d'Ivoire, with a 67% share of total exports. Moreover, gear box exports to the United States exceeded the volume sent to the second major destination, Mali (X units), fivefold. The third position in this ranking was taken by Ghana (X units), with a 6.7% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to the United States stood at +11.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Mali (-16.6% per year) and Ghana (-12.9% per year).

In value terms, the United States ($X) remains the key foreign market for gear boxes exports from Cote d'Ivoire, comprising 67% of total exports. The second position in the ranking was held by Mali ($X), with a 26% share of total exports. It was followed by Morocco, with a 3.1% share.

From 2012 to 2022, the average annual rate of growth in terms of value to the United States amounted to +19.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Mali (-5.2% per year) and Morocco (-3.9% per year).

Export Prices by Country

In 2022, the average gear box export price amounted to $X per unit, with a decrease of -18.3% against the previous year. Over the period under review, the export price, however, enjoyed a slight expansion. The most prominent rate of growth was recorded in 2019 an increase of 129% against the previous year. The export price peaked at $X per unit in 2021, and then contracted markedly in the following year.

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 Mali ($X per unit), while the average price for exports to Ghana ($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 Mali (+13.6%), while the prices for the other major destinations experienced more modest paces of growth.

Gear Box Imports

Imports into Cote d'Ivoire

In 2022, gear box imports into Cote d'Ivoire surged to X units, increasing by 39% against the previous year's figure. In general, imports posted a resilient increase. The most prominent rate of growth was recorded in 2013 when imports increased by 146% against the previous year. Over the period under review, imports hit record highs at X units in 2020; however, from 2021 to 2022, imports remained at a lower figure.

In value terms, gear box imports soared to $X in 2022. Over the period under review, imports posted prominent growth. The most prominent rate of growth was recorded in 2013 with an increase of 132% against the previous year. Over the period under review, imports attained the maximum at $X in 2020; however, from 2021 to 2022, imports stood at a somewhat lower figure.

Imports by Country

China (X units), Turkey (X units) and the United States (X units) were the main suppliers of gear box imports to Cote d'Ivoire, with a combined 50% share of total imports. Ghana, the United Arab Emirates, Belgium, the UK, Nigeria, France, Germany, South Korea, Sweden and Japan lagged somewhat behind, together accounting for a further 39%.

From 2012 to 2022, the biggest increases were recorded for the UK (with a CAGR of +82.6%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the United States ($X) constituted the largest supplier of gear boxes to Cote d'Ivoire, comprising 27% of total imports. The second position in the ranking was taken by China ($X), with a 13% share of total imports. It was followed by Sweden, with a 7.7% share.

From 2012 to 2022, the average annual growth rate of value from the United States totaled +15.4%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+37.1% per year) and Sweden (+29.8% per year).

Import Prices by Country

In 2022, the average gear box import price amounted to $X per unit, surging by 18% against the previous year. In general, the import price showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 an increase of 25%. The import price peaked at $X per unit in 2016; however, from 2017 to 2022, import prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Sweden ($X per unit), while the price for Ghana ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Turkey (+15.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform