Ghana: Non-Self-Propelled Fork-Lift Truck Market 2024

Non-Self-Propelled Fork-Lift Truck Market Size in Ghana

After two years of decline, the Ghanian non-self-propelled fork-lift truck market increased by 42% to $X in 2022. Overall, consumption, however, recorded a deep setback. Non-self-propelled fork-lift truck consumption peaked at $X in 2012; however, from 2013 to 2022, consumption stood at a somewhat lower figure.

Non-Self-Propelled Fork-Lift Truck Exports

Exports from Ghana

In 2022, exports of non-self-propelled fork-lift trucks from Ghana fell significantly to X units, which is down by -27.6% compared with 2021. Overall, exports, however, saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2017 when exports increased by 186%. Over the period under review, the exports reached the maximum at X units in 2021, and then fell sharply in the following year.

In value terms, non-self-propelled fork-lift truck exports contracted significantly to $X in 2022. Over the period under review, exports, however, enjoyed a mild expansion. The most prominent rate of growth was recorded in 2017 when exports increased by 672%. The exports peaked at $X in 2014; however, from 2015 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Burkina Faso (X units), Nigeria (X units) and Togo (X units) were the main destinations of non-self-propelled fork-lift truck exports from Ghana, with a combined 86% share of total exports.

From 2012 to 2022, the biggest increases were recorded for Burkina Faso (with a CAGR of +27.1%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Burkina Faso ($X), Nigeria ($X) and Mali ($X) appeared to be the largest markets for non-self-propelled fork-lift truck exported from Ghana worldwide, with a combined 99% share of total exports.

Burkina Faso, with a CAGR of +117.8%, recorded the highest growth rate of the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average non-self-propelled fork-lift truck export price amounted to $X per unit, rising by 15% against the previous year. In general, the export price continues to indicate a mild expansion. The growth pace was the most rapid in 2017 an increase of 170%. The export price peaked at $X per unit in 2014; however, from 2015 to 2022, the export prices failed to regain momentum.

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 Burkina Faso ($X per unit), while the average price for exports to Liberia ($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 Burkina Faso (+71.3%), while the prices for the other major destinations experienced more modest paces of growth.

Non-Self-Propelled Fork-Lift Truck Imports

Imports into Ghana

In 2022, purchases abroad of non-self-propelled fork-lift trucks was finally on the rise to reach X units for the first time since 2019, thus ending a two-year declining trend. In general, imports, however, recorded a abrupt decrease. The growth pace was the most rapid in 2015 when imports increased by 560%. Imports peaked at X units in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

In value terms, non-self-propelled fork-lift truck imports expanded sharply to $X in 2022. Over the period under review, imports, however, recorded a sharp shrinkage. The pace of growth was the most pronounced in 2015 with an increase of 539%. Imports peaked at $X in 2013; however, from 2014 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, China (X units) constituted the largest supplier of non-self-propelled fork-lift truck to Ghana, accounting for a 49% share of total imports. Moreover, non-self-propelled fork-lift truck imports from China exceeded the figures recorded by the second-largest supplier, Australia (X units), fourfold. The third position in this ranking was held by India (X units), with a 6.8% share.

From 2012 to 2022, the average annual growth rate of volume from China stood at -19.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Australia (+30.8% per year) and India (+13.2% per year).

In value terms, China ($X), India ($X) and Cote d'Ivoire ($X) constituted the largest non-self-propelled fork-lift truck suppliers to Ghana, together comprising 58% of total imports. Australia, Japan, Taiwan (Chinese), Togo, the UK, Spain, Hong Kong SAR, Turkey, the Netherlands and Belgium lagged somewhat behind, together comprising a further 26%.

Japan, with a CAGR of +78.6%, saw the highest rates of growth with regard to the value of imports, among the main suppliers 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 non-self-propelled fork-lift truck import price amounted to $X per unit, which is down by -30.5% against the previous year. In general, the import price showed a noticeable slump. The pace of growth appeared the most rapid in 2013 an increase of 70%. Over the period under review, average import prices hit record highs at $X per unit in 2019; however, from 2020 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 the UK ($X per unit), while the price for Turkey ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Japan (+32.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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