ECOWAS: Market for Electrical Lighting Or Visual Signaling Equipment For Motor Vehicles And Cycles 2025

Market Size for Electrical Lighting Or Visual Signaling Equipment For Motor Vehicles And Cycles in ECOWAS

The ECOWAS market for electrical lighting or visual signaling equipment for motor vehicles and cycles skyrocketed to $X in 2022, picking up by X% against the previous year. Overall, consumption, however, showed a resilient expansion. As a result, consumption reached the peak level of $X. From 2021 to 2022, the growth of the market remained at a lower figure.

Production of Electrical Lighting Or Visual Signaling Equipment For Motor Vehicles And Cycles in ECOWAS

In value terms, lighting equipment for motor vehicles production soared to $X in 2022 estimated in export price. Over the period under review, production showed a resilient expansion. The pace of growth was the most pronounced in 2020 when the production volume increased by X% against the previous year. As a result, production reached the peak level of $X. From 2021 to 2022, production growth failed to regain momentum.

Exports of Electrical Lighting Or Visual Signaling Equipment For Motor Vehicles And Cycles

Exports in ECOWAS

Lighting equipment for motor vehicles exports stood at X units in 2022, surging by X% on the previous year. Total exports indicated a noticeable increase from 2012 to 2022: its volume increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports decreased by X% against 2020 indices. The most prominent rate of growth was recorded in 2020 when exports increased by X%. As a result, the exports reached the peak of X units. From 2021 to 2022, the growth of the exports remained at a lower figure.

In value terms, lighting equipment for motor vehicles exports fell rapidly to $X in 2022. Total exports indicated a slight expansion from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2016 with an increase of X% against the previous year. As a result, the exports attained the peak of $X. From 2017 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

Nigeria dominates exports structure, recording X units, which was approx. X% of total exports in 2022. Togo (X units), Ghana (X units), Senegal (X units) and Sierra Leone (X units) followed a long way behind the leaders.

Nigeria was also the fastest-growing in terms of the electrical lighting or visual signaling equipment for motor vehicles and cycles exports, with a CAGR of X% from 2012 to 2022. At the same time, Togo (X%), Senegal (X%) and Ghana (X%) displayed positive paces of growth. By contrast, Sierra Leone (X%) illustrated a downward trend over the same period. Nigeria (X p.p.) significantly strengthened its position in terms of the total exports, while Sierra Leone saw its share reduced by X% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Nigeria ($X), Sierra Leone ($X) and Senegal ($X) appeared to be the countries with the highest levels of exports in 2022, with a combined X% share of total exports. Togo and Ghana lagged somewhat behind, together accounting for a further X%.

Togo, with a CAGR of X%, saw the highest growth rate of the value of exports, in terms of the main exporting countries over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The export price in ECOWAS stood at $X per unit in 2022, with a decrease of X% against the previous year. In general, the export price recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when the export price increased by X% against the previous year. As a result, the export price reached the peak level of $X per unit, and then shrank sharply in the following year.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Sierra Leone ($X per unit), while Ghana ($X per unit) was amongst the lowest.

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

Imports of Electrical Lighting Or Visual Signaling Equipment For Motor Vehicles And Cycles

Imports in ECOWAS

In 2022, overseas purchases of electrical lighting or visual signaling equipment for motor vehicles and cycles decreased by X% to X units for the first time since 2019, thus ending a two-year rising trend. Overall, imports, however, enjoyed a pronounced increase. The most prominent rate of growth was recorded in 2017 with an increase of X% against the previous year. Over the period under review, imports reached the maximum at X units in 2021, and then contracted in the following year.

In value terms, lighting equipment for motor vehicles imports declined to $X in 2022. In general, imports saw a noticeable slump. The most prominent rate of growth was recorded in 2017 with an increase of X%. As a result, imports attained the peak of $X. From 2018 to 2022, the growth of imports remained at a lower figure.

Imports by Country

In 2022, Ghana (X units) was the largest importer of electrical lighting or visual signaling equipment for motor vehicles and cycles, creating X% of total imports. Cote d'Ivoire (X units) held a X% share (based on physical terms) of total imports, which put it in second place, followed by Senegal (X%), Guinea (X%) and Nigeria (X%).

From 2012 to 2022, average annual rates of growth with regard to lighting equipment for motor vehicles imports into Ghana stood at X%. At the same time, Cote d'Ivoire (X%) and Senegal (X%) displayed positive paces of growth. Moreover, Cote d'Ivoire emerged as the fastest-growing importer imported in ECOWAS, with a CAGR of X% from 2012-2022. By contrast, Guinea (X%) and Nigeria (X%) illustrated a downward trend over the same period. While the share of Cote d'Ivoire (X p.p.) and Senegal (X p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Guinea (X p.p.), Ghana (X p.p.) and Nigeria (X p.p.) displayed negative dynamics.

In value terms, Ghana ($X) constitutes the largest market for imported electrical lighting or visual signaling equipment for motor vehicles and cycles in ECOWAS, comprising X% of total imports. The second position in the ranking was taken by Senegal ($X), with a X% share of total imports. It was followed by Nigeria, with a X% share.

In Ghana, lighting equipment for motor vehicles imports declined by an average annual rate of X% over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: Senegal (X% per year) and Nigeria (X% per year).

Import Prices by Country

In 2022, the import price in ECOWAS amounted to $X per unit, increasing by X% against the previous year. Over the period under review, the import price, however, continues to indicate a abrupt slump. The pace of growth appeared the most rapid in 2015 when the import price increased by X%. The level of import peaked at $X per unit in 2017; however, from 2018 to 2022, import prices remained at a lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Guinea (X%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform