Cote d'Ivoire: Road Wheel Market 2024

Road Wheel Market Size in Cote d'Ivoire

The Cote d'Ivoire's road wheel market shrank to $X in 2022, with a decrease of -7.6% 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, the total consumption indicated noticeable growth from 2012 to 2022: its value increased at an average annual rate of +3.8% 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 +69.0% against 2015 indices. Over the period under review, the market hit record highs at $X in 2021, and then declined in the following year.

Road Wheel Exports

Exports from Cote d'Ivoire

In 2022, exports of road wheels from Cote d'Ivoire soared to X kg, jumping by 54% on 2021. In general, exports, however, faced a sharp slump. The most prominent rate of growth was recorded in 2014 with an increase of 187% against the previous year. Over the period under review, the exports attained the peak figure at X tons in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

In value terms, road wheel exports soared to $X in 2022. Over the period under review, exports, however, saw a precipitous curtailment. The pace of growth was the most pronounced in 2014 with an increase of 225% against the previous year. 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

The United States (X kg), Niger (X kg) and Benin (X kg) were the main destinations of road wheel exports from Cote d'Ivoire, with a combined 92% share of total exports. Ghana, Burkina Faso, Mali and France lagged somewhat behind, together accounting for a further 7.4%.

From 2012 to 2022, the biggest increases were recorded for Ghana (with a CAGR of -11.1%), while shipments for the other leaders experienced a decline.

In value terms, Niger ($X) remains the key foreign market for road wheels exports from Cote d'Ivoire, comprising 73% of total exports. The second position in the ranking was held by the United States ($X), with a 20% share of total exports. It was followed by Benin, with a 0.7% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Niger totaled -26.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (-49.4% per year) and Benin (-37.1% per year).

Export Prices by Country

In 2022, the average road wheel export price amounted to $X per ton, declining by -17.7% against the previous year. In general, the export price saw a noticeable curtailment. The most prominent rate of growth was recorded in 2013 an increase of 63% against the previous year. Over the period under review, the average export prices reached the maximum at $X per ton in 2014; however, from 2015 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Niger ($X per ton), while the average price for exports to Ghana ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Mali (+3.7%), while the prices for the other major destinations experienced a decline.

Road Wheel Imports

Imports into Cote d'Ivoire

In 2022, imports of road wheels into Cote d'Ivoire reduced modestly to X tons, dropping by -2.7% compared with 2021 figures. Over the period under review, imports, however, saw a prominent expansion. The pace of growth was the most pronounced in 2014 with an increase of 83% against the previous year. Over the period under review, imports reached the peak figure at X tons in 2019; however, from 2020 to 2022, imports remained at a lower figure.

In value terms, road wheel imports declined to $X in 2022. In general, imports showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2017 with an increase of 62%. Over the period under review, imports attained the maximum at $X in 2021, and then fell in the following year.

Imports by Country

In 2022, China (X tons) constituted the largest supplier of road wheel to Cote d'Ivoire, with a 72% share of total imports. Moreover, road wheel imports from China exceeded the figures recorded by the second-largest supplier, Ghana (X tons), sevenfold. The third position in this ranking was taken by the United Arab Emirates (X tons), with a 3.6% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China totaled +9.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Ghana (+35.7% per year) and the United Arab Emirates (+5.7% per year).

In value terms, China ($X) constituted the largest supplier of road wheels to Cote d'Ivoire, comprising 66% of total imports. The second position in the ranking was held by Ghana ($X), with a 6.2% share of total imports. It was followed by Spain, with a 5.9% share.

From 2012 to 2022, the average annual growth rate of value from China amounted to +7.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Ghana (+30.5% per year) and Spain (+3.5% per year).

Import Prices by Country

The average road wheel import price stood at $X per ton in 2022, with a decrease of -8.8% against the previous year. In general, the import price showed a abrupt shrinkage. The most prominent rate of growth was recorded in 2013 an increase of 36% against the previous year. As a result, import price attained the peak level of $X per ton. From 2014 to 2022, the average import prices remained at a 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 Spain ($X per ton), while the price for South Korea ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Spain (+4.1%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform