Ghana: Off-Highway Dumper Market 2024

Off-Highway Dumper Market Size in Ghana

The Ghanian off-highway dumper market was estimated at $X in 2021, picking up by 4.8% 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 saw strong growth. Off-highway dumper consumption peaked in 2021 and is likely to see steady growth in the near future.

Off-Highway Dumper Exports

Exports from Ghana

In 2021, exports of dumpers for off-highway use from Ghana expanded rapidly to X units, with an increase of 5.1% on 2020. Overall, exports continue to indicate a prominent increase. The growth pace was the most rapid in 2018 when exports increased by 406%. The exports peaked in 2021 and are likely to see gradual growth in the immediate term.

In value terms, off-highway dumper exports reached $X in 2021. Over the period under review, total exports indicated temperate growth from 2012 to 2021: its value increased at an average annual rate of +4.7% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +120.7% against 2016 indices. The growth pace was the most rapid in 2017 when exports increased by 72%. The exports peaked at $X in 2015; however, from 2016 to 2021, the exports remained at a lower figure.

Exports by Country

Nigeria (X units) was the main destination for off-highway dumper exports from Ghana, accounting for a 88% share of total exports. Moreover, off-highway dumper exports to Nigeria exceeded the volume sent to the second major destination, Togo (X units), sevenfold.

From 2012 to 2021, the average annual growth rate of volume to Nigeria stood at +25.1%.

In value terms, Nigeria ($X) remains the key foreign market for dumpers for off-highway use exports from Ghana, comprising 87% of total exports. The second position in the ranking was held by Togo ($X), with a 13% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value to Nigeria totaled +31.6%.

Export Prices by Country

In 2021, the average off-highway dumper export price amounted to $X per unit, approximately mirroring the previous year. Over the period under review, the export price, however, saw a abrupt shrinkage. The pace of growth was the most pronounced in 2016 when the average export price increased by 105%. Over the period under review, the average export prices reached the peak figure at $X per unit in 2017; however, from 2018 to 2021, the export prices remained at a lower figure.

Average prices varied noticeably for the major foreign markets. In 2021, amid the top suppliers, the country with the highest price was Togo ($X per unit), while the average price for exports to Nigeria amounted to $X per unit.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to South Africa (+68.3%), while the prices for the other major destinations experienced more modest paces of growth.

Off-Highway Dumper Imports

Imports into Ghana

For the third year in a row, Ghana recorded growth in supplies from abroad of dumpers for off-highway use, which increased by 6.4% to X units in 2021. Over the period under review, imports posted a prominent increase. The pace of growth was the most pronounced in 2016 when imports increased by 100% against the previous year. Over the period under review, imports hit record highs in 2021 and are likely to see steady growth in the near future.

In value terms, off-highway dumper imports reached $X in 2021. In general, imports continue to indicate a remarkable increase. The pace of growth was the most pronounced in 2017 when imports increased by 98%. Imports peaked in 2021 and are likely to continue growth in years to come.

Imports by Country

The United States (X units), India (X units) and Australia (X units) were the main suppliers of off-highway dumper imports to Ghana, together comprising 46% of total imports. The UK, the United Arab Emirates, South Africa, China, Belgium, Sweden, Japan, Finland, Sierra Leone and Burkina Faso lagged somewhat behind, together comprising a further 39%.

From 2012 to 2021, the biggest increases were recorded for Finland (with a CAGR of +110.2%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the United States ($X), India ($X) and Australia ($X) constituted the largest off-highway dumper suppliers to Ghana, together accounting for 47% of total imports. These countries were followed by the United Arab Emirates, Finland, the UK, South Africa, Belgium, Japan, Burkina Faso, China, Sierra Leone and Sweden, which together accounted for a further 36%.

Finland, with a CAGR of +121.3%, recorded the highest rates of growth with regard to the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average off-highway dumper import price stood at $X per unit in 2021, dropping by -2.1% against the previous year. In general, the import price, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 when the average import price increased by 46%. The import price peaked at $X per unit in 2018; however, from 2019 to 2021, 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 Finland ($X per unit), while the price for Sweden ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (+15.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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