Ghana: Trailer And Semi-Trailer Market 2024

Trailer And Semi-Trailer Market Size in Ghana

In 2022, the Ghanian trailer and semi-trailer market decreased by -13.3% to $X for the first time since 2018, thus ending a three-year rising trend. Overall, consumption faced a deep downturn. Trailer and semi-trailer consumption peaked at $X in 2013; however, from 2014 to 2022, consumption stood at a somewhat lower figure.

Trailer And Semi-Trailer Exports

Exports from Ghana

Trailer and semi-trailer exports from Ghana soared to X units in 2022, rising by 45% compared with 2021. In general, exports, however, continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 with an increase of 103%. As a result, the exports attained the peak of X units. From 2021 to 2022, the growth of the exports failed to regain momentum.

In value terms, trailer and semi-trailer exports expanded sharply to $X in 2022. Overall, exports, however, recorded a abrupt descent. The most prominent rate of growth was recorded in 2019 when exports increased by 130%. The exports peaked at $X in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

Exports by Country

Cote d'Ivoire (X units) was the main destination for trailer and semi-trailer exports from Ghana, accounting for a 72% share of total exports. Moreover, trailer and semi-trailer exports to Cote d'Ivoire exceeded the volume sent to the second major destination, Togo (X units), sixfold. The third position in this ranking was held by Burkina Faso (X units), with an 8.3% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Cote d'Ivoire totaled +12.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Togo (-4.3% per year) and Burkina Faso (+17.5% per year).

In value terms, Cote d'Ivoire ($X) remains the key foreign market for cargo trailers and semi-trailers exports from Ghana, comprising 53% of total exports. The second position in the ranking was taken by Togo ($X), with a 22% share of total exports. It was followed by Nigeria, with an 11% share.

From 2012 to 2022, the average annual growth rate of value to Cote d'Ivoire stood at +5.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Togo (+2.6% per year) and Nigeria (+0.5% per year).

Export Prices by Country

The average trailer and semi-trailer export price stood at $X per unit in 2022, shrinking by -23.7% against the previous year. Over the period under review, the export price saw a abrupt descent. The pace of growth appeared the most rapid in 2015 an increase of 97%. As a result, the export price reached the peak level of $X per unit. From 2016 to 2022, the average export prices failed to regain momentum.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Nigeria ($X per unit), while the average price for exports to Mali ($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 (+7.2%), while the prices for the other major destinations experienced more modest paces of growth.

Trailer And Semi-Trailer Imports

Imports into Ghana

After three years of growth, supplies from abroad of cargo trailers and semi-trailers decreased by -10.5% to X units in 2022. In general, imports faced a abrupt curtailment. The most prominent rate of growth was recorded in 2016 with an increase of 184% against the previous year. As a result, imports reached the peak of X units. From 2017 to 2022, the growth of imports failed to regain momentum.

In value terms, trailer and semi-trailer imports reduced to $X in 2022. Over the period under review, imports continue to indicate a deep setback. The pace of growth was the most pronounced in 2019 with an increase of 44% against the previous year. Imports peaked at $X in 2012; however, from 2013 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, Belgium (X units) constituted the largest trailer and semi-trailer supplier to Ghana, accounting for a 48% share of total imports. Moreover, trailer and semi-trailer imports from Belgium exceeded the figures recorded by the second-largest supplier, Turkey (X units), fourfold. The third position in this ranking was taken by Brazil (X units), with a 7.2% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Belgium stood at -2.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Turkey (+2.1% per year) and Brazil (+31.1% per year).

In value terms, the largest trailer and semi-trailer suppliers to Ghana were China ($X), Turkey ($X) and Brazil ($X), together comprising 58% of total imports. Belgium, Russia, the United Arab Emirates, the Netherlands, Italy, Hong Kong SAR, the UK, the United States, Germany and Spain lagged somewhat behind, together accounting for a further 20%.

In terms of the main suppliers, Hong Kong SAR, with a CAGR of +19.5%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced mixed trend patterns.

Import Prices by Country

In 2022, the average trailer and semi-trailer import price amounted to $X per unit, almost unchanged from the previous year. Overall, the import price continues to indicate a noticeable expansion. The pace of growth was the most pronounced in 2018 when the average import price increased by 225%. The import price peaked at $X per unit in 2014; however, from 2015 to 2022, import prices failed to regain momentum.

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 China ($X per unit), while the price for Belgium ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Germany (+18.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform