ECOWAS: Market for Motor Vehicle Chassis Fitted With Engines 2025

Market Size for Motor Vehicle Chassis Fitted With Engines in ECOWAS

In 2022, the ECOWAS market for motor vehicle chassis fitted with engines was finally on the rise to reach $X for the first time since 2019, thus ending a two-year declining trend. In general, consumption showed modest growth. As a result, consumption attained the peak level of $X. From 2020 to 2022, the growth of the market remained at a lower figure.

Production of Motor Vehicle Chassis Fitted With Engines in ECOWAS

In value terms, production of motor vehicle chassis fitted with engines surged to $X in 2022 estimated in export price. In general, production, however, saw a slight reduction. The pace of growth was the most pronounced in 2020 with an increase of 110%. As a result, production attained the peak level of $X. From 2021 to 2022, production of growth failed to regain momentum.

Exports of Motor Vehicle Chassis Fitted With Engines

Exports in ECOWAS

In 2022, exports of motor vehicle chassis fitted with engines in ECOWAS soared to X units, increasing by 25% against the previous year's figure. Overall, exports enjoyed a strong increase. The growth pace was the most rapid in 2019 when exports increased by 1,950%. As a result, the exports reached the peak of X units. From 2020 to 2022, the growth of the exports of remained at a somewhat lower figure.

In value terms, exports of motor vehicle chassis fitted with engines shrank notably to $X in 2022. In general, exports showed buoyant growth. The growth pace was the most rapid in 2016 with an increase of 2,135% against the previous year. Over the period under review, the exports of hit record highs at $X in 2018; however, from 2019 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Togo was the key exporter of motor vehicle chassis fitted with engines in ECOWAS, with the volume of exports finishing at X units, which was approx. 40% of total exports in 2022. Benin (X units) took the second position in the ranking, followed by Nigeria (X units) and Senegal (X units). All these countries together held near 60% share of total exports.

From 2012 to 2022, the biggest increases were recorded for Togo (with a CAGR of +7.2%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Senegal ($X) emerged as the largest motor vehicle chassis fitted with engines supplier in ECOWAS, comprising 70% of total exports. The second position in the ranking was held by Togo ($X), with an 8.6% share of total exports. It was followed by Benin, with a 6.8% share.

From 2012 to 2022, the average annual growth rate of value in Senegal stood at +48.2%. In the other countries, the average annual rates were as follows: Togo (+16.2% per year) and Benin (-15.1% per year).

Export Prices by Country

In 2022, the export price in ECOWAS amounted to $X per unit, falling by -36.1% against the previous year. In general, the export price saw a abrupt decline. The growth pace was the most rapid in 2018 when the export price increased by 2,642% against the previous year. As a result, the export price reached the peak level of $X per unit. From 2019 to 2022, the export prices remained at a somewhat lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Togo (+8.4%).

Imports of Motor Vehicle Chassis Fitted With Engines

Imports in ECOWAS

In 2022, purchases abroad of motor vehicle chassis fitted with engines decreased by -19.1% to X units, falling for the third consecutive year after three years of growth. Overall, imports, however, showed a resilient expansion. The growth pace was the most rapid in 2015 when imports increased by 184%. Over the period under review, imports of reached the peak figure at X units in 2019; however, from 2020 to 2022, imports failed to regain momentum.

In value terms, imports of motor vehicle chassis fitted with engines declined dramatically to $X in 2022. Over the period under review, imports, however, saw prominent growth. The pace of growth was the most pronounced in 2015 with an increase of 274%. Over the period under review, imports of reached the peak figure at $X in 2019; however, from 2020 to 2022, imports remained at a lower figure.

Imports by Country

Nigeria dominates engines structure, accounting for X units, which was approx. 74% of total imports in 2022. It was distantly followed by Ghana (X units) and Senegal (X units), together achieving a 19% share of total imports. The following importers - Cote d'Ivoire (X units) and Benin (X units) - each finished at a 3.5% share of total imports.

Nigeria was also the fastest-growing in terms of the motor vehicle chassis fitted with engines imports, with a CAGR of +30.6% from 2012 to 2022. At the same time, Benin (+15.9%), Senegal (+8.3%) and Ghana (+1.0%) displayed positive paces of growth. Cote d'Ivoire experienced a relatively flat trend pattern. While the share of Nigeria (+55 p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Cote d'Ivoire (-4.5 p.p.), Senegal (-6 p.p.) and Ghana (-22.1 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Nigeria ($X) constitutes the largest market for imported motor vehicle chassis fitted with engines in ECOWAS, comprising 75% of total imports. The second position in the ranking was held by Ghana ($X), with an 11% share of total imports. It was followed by Senegal, with a 10% share.

From 2012 to 2022, the average annual growth rate of value in Nigeria totaled +19.0%. The remaining importing countries recorded the following average annual rates of imports growth: Ghana (+22.8% per year) and Senegal (-2.5% per year).

Import Prices by Country

In 2022, the import price in ECOWAS amounted to $X per unit, with a decrease of -41.2% against the previous year. Overall, the import price saw a mild decrease. The most prominent rate of growth was recorded in 2015 when the import price increased by 32% against the previous year. The level of import peaked at $X per unit in 2019; however, from 2020 to 2022, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Cote d'Ivoire ($X per unit), while Benin ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Ghana (+21.5%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform