ECOWAS: Trailer And Semi-Trailer Market 2024

Trailer And Semi-Trailer Market Size in ECOWAS

The ECOWAS trailer and semi-trailer market rose to $X in 2022, surging by 4.9% against the previous year. The total consumption indicated a perceptible expansion from 2012 to 2022: its value increased at an average annual rate of +2.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by -4.2% against 2019 indices. Over the period under review, the market reached the maximum level at $X in 2019; however, from 2020 to 2022, consumption failed to regain momentum.

Trailer And Semi-Trailer Production in ECOWAS

In value terms, trailer and semi-trailer production declined modestly to $X in 2022 estimated in export price. Overall, production posted a remarkable increase. The pace of growth was the most pronounced in 2015 with an increase of 49%. The level of production peaked at $X in 2019; however, from 2020 to 2022, production remained at a lower figure.

Trailer And Semi-Trailer Exports

Exports in ECOWAS

In 2022, approx. X units of cargo trailers and semi-trailers were exported in ECOWAS; surging by 54% against 2021. Overall, exports, however, showed a relatively flat trend pattern. The growth pace was the most rapid in 2016 when exports increased by 106%. As a result, the exports reached the peak of X units. From 2017 to 2022, the growth of the exports remained at a lower figure.

In value terms, trailer and semi-trailer exports contracted modestly to $X in 2022. Over the period under review, exports enjoyed a notable increase. The most prominent rate of growth was recorded in 2016 when exports increased by 90%. As a result, the exports reached the peak of $X. From 2017 to 2022, the growth of the exports remained at a somewhat lower figure.

Exports by Country

In 2022, Nigeria (X units), Senegal (X units), Togo (X units), Niger (X units), Ghana (X units) and Cote d'Ivoire (X units) represented the largest exporter of cargo trailers and semi-trailers in ECOWAS, making up 84% of total export. It was distantly followed by Burkina Faso (X units), mixing up a 5.2% share of total exports.

From 2012 to 2022, the biggest increases were recorded for Nigeria (with a CAGR of +44.6%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Cote d'Ivoire ($X) remains the largest trailer and semi-trailer supplier in ECOWAS, comprising 34% of total exports. The second position in the ranking was held by Togo ($X), with an 11% share of total exports. It was followed by Senegal, with a 7.2% share.

In Cote d'Ivoire, trailer and semi-trailer exports expanded at an average annual rate of +10.1% over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: Togo (+13.0% per year) and Senegal (-8.6% per year).

Export Prices by Country

The export price in ECOWAS stood at $X per unit in 2022, falling by -38.2% against the previous year. In general, the export price, however, enjoyed a tangible increase. The most prominent rate of growth was recorded in 2015 when the export price increased by 80% against the previous year. Over the period under review, the export prices hit record highs at $X per unit in 2020; however, from 2021 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Cote d'Ivoire ($X per unit), while Nigeria ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Cote d'Ivoire (+6.7%), while the other leaders experienced mixed trends in the export price figures.

Trailer And Semi-Trailer Imports

Imports in ECOWAS

In 2022, purchases abroad of cargo trailers and semi-trailers was finally on the rise to reach X units for the first time since 2019, thus ending a two-year declining trend. In general, imports, however, showed a noticeable shrinkage. The growth pace was the most rapid in 2018 with an increase of 42%. The volume of import peaked at X units in 2013; however, from 2014 to 2022, imports stood at a somewhat lower figure.

In value terms, trailer and semi-trailer imports skyrocketed to $X in 2022. The total import value increased at an average annual rate of +3.2% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2019 with an increase of 27% against the previous year. The level of import peaked in 2022 and is expected to retain growth in years to come.

Imports by Country

In 2022, Togo (X units) and Nigeria (X units) were the key importers of cargo trailers and semi-trailers in ECOWAS, together mixing up 44% of total imports. It was distantly followed by Niger (X units), Burkina Faso (X units), Cote d'Ivoire (X units), Mali (X units) and Guinea (X units), together creating a 44% share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by Niger (with a CAGR of +38.4%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Nigeria ($X) constitutes the largest market for imported cargo trailers and semi-trailers in ECOWAS, comprising 32% of total imports. The second position in the ranking was held by Mali ($X), with a 13% share of total imports. It was followed by Cote d'Ivoire, with a 12% share.

From 2012 to 2022, the average annual growth rate of value in Nigeria totaled +2.3%. In the other countries, the average annual rates were as follows: Mali (+8.3% per year) and Cote d'Ivoire (+7.5% per year).

Import Prices by Country

In 2022, the import price in ECOWAS amounted to $X per unit, picking up by 2.5% against the previous year. Import price indicated a buoyant expansion from 2012 to 2022: its price increased at an average annual rate of +5.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, trailer and semi-trailer import price increased by +50.3% against 2018 indices. The growth pace was the most rapid in 2014 an increase of 35%. The level of import peaked in 2022 and is expected to retain growth in the near future.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Guinea ($X per unit), while Togo ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Burkina Faso (+19.0%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform