Ghana: Tow-Behind Air Compressor Market 2024

Tow-Behind Air Compressor Market Size in Ghana

The Ghanian tow-behind air compressor market reached $X in 2022, rising by 4.1% 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). Over the period under review, consumption, however, recorded a deep slump. Tow-behind air compressor consumption peaked at $X in 2012; however, from 2013 to 2022, consumption failed to regain momentum.

Tow-Behind Air Compressor Exports

Exports from Ghana

Tow-behind air compressor exports from Ghana surged to X units in 2022, jumping by 241% against the previous year's figure. Overall, exports recorded a buoyant increase. The pace of growth appeared the most rapid in 2020 with an increase of 311%. 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, tow-behind air compressor exports skyrocketed to $X in 2022. Over the period under review, exports recorded a significant increase. Over the period under review, the exports attained the maximum at $X in 2020; however, from 2021 to 2022, the exports remained at a lower figure.

Exports by Country

Cote d'Ivoire (X units) was the main destination for tow-behind air compressor exports from Ghana, with a 64% share of total exports. Moreover, tow-behind air compressor exports to Cote d'Ivoire exceeded the volume sent to the second major destination, Niger (X units), sevenfold. Burkina Faso (X units) ranked third in terms of total exports with an 8.6% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Cote d'Ivoire amounted to +43.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Niger (+17.5% per year) and Burkina Faso (+17.5% per year).

In value terms, Cote d'Ivoire ($X) remains the key foreign market for air compressors mounted on a wheeled chassis for towing exports from Ghana, comprising 60% of total exports. The second position in the ranking was held by Burkina Faso ($X), with an 11% share of total exports. It was followed by Mali, with an 11% share.

From 2012 to 2022, the average annual growth rate of value to Cote d'Ivoire amounted to +78.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Burkina Faso (+28.3% per year) and Mali (+14.5% per year).

Export Prices by Country

In 2022, the average tow-behind air compressor export price amounted to $X per unit, increasing by 149% against the previous year. Over the period under review, the export price continues to indicate a buoyant expansion. The pace of growth appeared the most rapid in 2017 an increase of 673% against the previous year. Over the period under review, the average export prices hit record highs at $X per unit 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 overseas markets. In 2022, amid the top suppliers, the country with the highest price was Mali ($X per unit), while the average price for exports to Sierra Leone ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Togo (+40.4%), while the prices for the other major destinations experienced more modest paces of growth.

Tow-Behind Air Compressor Imports

Imports into Ghana

For the fifth year in a row, Ghana recorded growth in purchases abroad of air compressors mounted on a wheeled chassis for towing, which increased by 11% to X units in 2022. Over the period under review, imports, however, saw a noticeable shrinkage. The most prominent rate of growth was recorded in 2018 when imports increased by 141%. Imports peaked at X units in 2012; however, from 2013 to 2022, imports remained at a lower figure.

In value terms, tow-behind air compressor imports totaled $X in 2022. Overall, imports, however, showed a deep downturn. The most prominent rate of growth was recorded in 2016 when imports increased by 74% against the previous year. Imports peaked at $X in 2012; however, from 2013 to 2022, imports remained at a lower figure.

Imports by Country

China (X units), India (X units) and Italy (X units) were the main suppliers of tow-behind air compressor imports to Ghana, with a combined 84% share of total imports. Germany, Benin and the UK lagged somewhat behind, together accounting for a further 5%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Benin (with a CAGR of +27.9%), while imports for the other leaders experienced more modest paces of growth.

In value terms, China ($X) constituted the largest supplier of air compressors mounted on a wheeled chassis for towing to Ghana, comprising 30% of total imports. The second position in the ranking was held by Germany ($X), with a 6.6% share of total imports. It was followed by India, with a 6.5% share.

From 2012 to 2022, the average annual rate of growth in terms of value from China was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (-2.7% per year) and India (+7.3% per year).

Import Prices by Country

The average tow-behind air compressor import price stood at $X per unit in 2022, falling by -8.4% against the previous year. Over the period under review, the import price recorded a pronounced contraction. The pace of growth was the most pronounced in 2015 when the average import price increased by 47%. As a result, import price attained the peak level of $X per unit. From 2016 to 2022, the average import prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the UK ($X per unit), while the price for India ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the UK (+15.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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