ECOWAS: Market for Tyres For Motorcycles or Bicycles 2024

Market Size for Tyres For Motorcycles or Bicycles in ECOWAS

In 2022, the ECOWAS motorcycle or bicycle tyre market increased by X% to $X, rising for the fourth consecutive year after four years of decline. Over the period under review, consumption recorded a relatively flat trend pattern. As a result, consumption reached the peak level of $X. From 2015 to 2022, the growth of the market remained at a lower figure.

Production of Tyres For Motorcycles or Bicycles in ECOWAS

In value terms, motorcycle or bicycle tyre production reached $X in 2022 estimated in export price. The total production indicated moderate growth 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. Based on 2022 figures, production decreased by X% against 2020 indices. The pace of growth was the most pronounced in 2016 with an increase of X%. Over the period under review, production attained the peak level at $X in 2020; however, from 2021 to 2022, production stood at a somewhat lower figure.

Exports of Tyres For Motorcycles or Bicycles

Exports in ECOWAS

In 2022, overseas shipments of tyres for motorcycles or bicycles decreased by X% to X units, falling for the fifth consecutive year after four years of growth. Overall, exports showed a relatively flat trend pattern. The growth pace was the most rapid in 2015 when exports increased by X%. Over the period under review, the exports reached the maximum at X units in 2017; however, from 2018 to 2022, the exports failed to regain momentum.

In value terms, motorcycle or bicycle tyre exports contracted to $X in 2022. Over the period under review, exports, however, enjoyed a buoyant expansion. The pace of growth appeared the most rapid in 2015 when exports increased by X% against the previous year. Over the period under review, the exports reached the maximum at $X in 2016; however, from 2017 to 2022, the exports failed to regain momentum.

Exports by Country

Ghana represented the major exporter of tyres for motorcycles or bicycles in ECOWAS, with the volume of exports amounting to X units, which was approx. X% of total exports in 2022. Nigeria (X units) ranks second in terms of the total exports with a X% share, followed by Togo (X%). Mali (X units), Burkina Faso (X units) and Cote d'Ivoire (X units) followed a long way behind the leaders.

From 2012 to 2022, average annual rates of growth with regard to motorcycle or bicycle tyre exports from Ghana stood at X%. At the same time, Togo (X%) displayed positive paces of growth. Moreover, Togo emerged as the fastest-growing exporter exported in ECOWAS, with a CAGR of X% from 2012-2022. Nigeria experienced a relatively flat trend pattern. By contrast, Mali (X%), Burkina Faso (X%) and Cote d'Ivoire (X%) illustrated a downward trend over the same period. Ghana (X p.p.), Togo (X p.p.) and Nigeria (X p.p.) significantly strengthened its position in terms of the total exports, while Burkina Faso and Cote d'Ivoire saw its share reduced by X% and X% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Ghana ($X) remains the largest motorcycle or bicycle tyre supplier in ECOWAS, comprising X% of total exports. The second position in the ranking was taken by Nigeria ($X), with a X% share of total exports. It was followed by Togo, with an X% share.

In Ghana, motorcycle or bicycle tyre exports increased at an average annual rate of X% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Nigeria (X% per year) and Togo (X% per year).

Export Prices by Country

The export price in ECOWAS stood at $X per unit in 2022, picking up by X% against the previous year. Over the period under review, the export price recorded a prominent increase. The most prominent rate of growth was recorded in 2019 when the export price increased by X%. The level of export peaked in 2022 and is expected to retain growth in the immediate term.

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

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

Imports of Tyres For Motorcycles or Bicycles

Imports in ECOWAS

In 2022, motorcycle or bicycle tyre imports in ECOWAS shrank to X units, with a decrease of X% on 2021 figures. In general, imports, however, continue to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2014 with an increase of X% against the previous year. As a result, imports attained the peak of X units. From 2015 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, motorcycle or bicycle tyre imports expanded rapidly to $X in 2022. Overall, imports, however, continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 with an increase of X%. As a result, imports reached the peak of $X. From 2015 to 2022, the growth of imports remained at a somewhat lower figure.

Imports by Country

In 2022, Mali (X units), distantly followed by Ghana (X units), Cote d'Ivoire (X units), Nigeria (X units) and Guinea (X units) were the largest importers of tyres for motorcycles or bicycles, together comprising X% of total imports. Gambia (X units) and Senegal (X units) held a relatively small share of total imports.

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

In value terms, Nigeria ($X), Guinea ($X) and Ghana ($X) were the countries with the highest levels of imports in 2022, together accounting for X% of total imports.

Ghana, with a CAGR of X%, saw the highest growth rate of the value of imports, in terms of the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in ECOWAS stood at $X per unit in 2022, picking up by X% against the previous year. In general, the import price showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 an increase of X%. Over the period under review, import prices attained the maximum at $X per unit in 2015; however, from 2016 to 2022, import prices failed to regain momentum.

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

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

Source: IndexBox Platform