Ghana: Construction Equipment Blade Market 2024

Construction Equipment Blade Market Size in Ghana

The Ghanian construction equipment blade market reduced to $X in 2022, shrinking by -5.8% 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 showed a pronounced contraction. As a result, consumption reached the peak level of $X. From 2017 to 2022, the growth of the market failed to regain momentum.

Construction Equipment Blade Exports

Exports from Ghana

After two years of growth, overseas shipments of blades for construction equipment decreased by -28.6% to X units in 2022. Overall, exports continue to indicate a sharp slump. The most prominent rate of growth was recorded in 2016 with an increase of 143%. Over the period under review, the exports attained the maximum at X units in 2013; however, from 2014 to 2022, the exports stood at a somewhat lower figure.

In value terms, construction equipment blade exports shrank rapidly to $X in 2022. In general, exports saw a precipitous setback. The most prominent rate of growth was recorded in 2016 when exports increased by 151%. Over the period under review, the exports attained the maximum at $X in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Burkina Faso (X units) was the main destination for construction equipment blade exports from Ghana, with a approx. 100% share of total exports.

From 2012 to 2022, the average annual growth rate of volume to Burkina Faso totaled -17.4%.

In value terms, Burkina Faso ($X) remains the key foreign market for blades for construction equipment exports from Ghana, comprising 98% of total exports. The second position in the ranking was held by Cote d'Ivoire ($X), with a 1.6% share of total exports.

From 2012 to 2022, the average annual growth rate of value to Burkina Faso totaled -6.9%.

Export Prices by Country

The average construction equipment blade export price stood at $X per unit in 2022, picking up by 2% against the previous year. Over the period under review, the export price, however, saw a pronounced decrease. The pace of growth was the most pronounced in 2015 an increase of 46% against the previous year. The export price peaked at $X per unit in 2012; however, from 2013 to 2022, the export prices remained at a lower figure.

Average prices varied noticeably for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Burkina Faso ($X per unit), while the average price for exports to Cote d'Ivoire amounted to $X per unit.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Burkina Faso (+11.9%), while the prices for the other major destinations experienced a decline.

Construction Equipment Blade Imports

Imports into Ghana

Construction equipment blade imports into Ghana dropped to X units in 2022, with a decrease of -12.6% compared with 2021 figures. In general, imports continue to indicate a abrupt downturn. The pace of growth was the most pronounced in 2016 when imports increased by 524% against the previous year. Over the period under review, imports hit record highs at X units in 2012; however, from 2013 to 2022, imports failed to regain momentum.

In value terms, construction equipment blade imports shrank to $X in 2022. Over the period under review, imports showed a abrupt decline. The pace of growth was the most pronounced in 2019 with an increase of 431% against the previous year. Over the period under review, imports hit record highs at $X in 2012; however, from 2013 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, China (X units) constituted the largest supplier of construction equipment blade to Ghana, with a 52% share of total imports. Moreover, construction equipment blade imports from China exceeded the figures recorded by the second-largest supplier, the United States (X units), twofold. The third position in this ranking was held by Australia (X units), with a 12% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China stood at +3.6%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (-13.2% per year) and Australia (+110.7% per year).

In value terms, the United States ($X), China ($X) and Australia ($X) were the largest construction equipment blade suppliers to Ghana, together accounting for 72% of total imports.

In terms of the main suppliers, Australia, with a CAGR of +62.6%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average construction equipment blade import price amounted to $X per unit, rising by 13% against the previous year. Over the period under review, the import price, however, showed a relatively flat trend pattern. The growth pace was the most rapid in 2013 an increase of 28%. Over the period under review, average import prices hit record highs at $X per unit in 2014; however, from 2015 to 2022, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was South Korea ($X per unit), while the price for China ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Canada (+11.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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