Ghana: Market for Lead-Acid Accumulators (Excluding Starter Batteries) 2024

Market Size for Lead-Acid Accumulators (Excluding Starter Batteries) in Ghana

After five years of growth, the Ghanian market for lead-acid accumulators (excluding starter batteries) decreased by -6.9% to $X in 2022. In general, consumption, however, posted a strong expansion. Lead-acid accumulators (excluding starter batteries) consumption peaked at $X in 2015; however, from 2016 to 2022, consumption failed to regain momentum.

Exports of Lead-Acid Accumulators (Excluding Starter Batteries)

Exports from Ghana

In 2022, the amount of lead-acid accumulators (excluding starter batteries) exported from Ghana soared to X units, picking up by 197% against the year before. Overall, exports saw temperate growth. The growth pace was the most rapid in 2016 with an increase of 484% against the previous year. As a result, the exports reached the peak of X units. From 2017 to 2022, the growth of the exports remained at a lower figure.

In value terms, lead-acid accumulators (excluding starter batteries) exports surged to $X in 2022. In general, exports continue to indicate temperate growth. The pace of growth appeared the most rapid in 2016 with an increase of 338%. As a result, the exports attained the peak of $X. From 2017 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

Mali (X units), Niger (X units) and Cote d'Ivoire (X units) were the main destinations of lead-acid accumulators (excluding starter batteries) exports from Ghana, with a combined 79% share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Niger (with a CAGR of +49.8%), while the other leaders experienced more modest paces of growth.

In value terms, South Africa ($X) remains the key foreign market for lead-acid accumulators (excluding starter batteries) exports from Ghana, comprising 49% of total exports. The second position in the ranking was taken by Mali ($X), with a 17% share of total exports. It was followed by Niger, with a 16% share.

From 2012 to 2022, the average annual rate of growth in terms of value to South Africa stood at +33.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Mali (+10.6% per year) and Niger (+29.7% per year).

Export Prices by Country

In 2022, the average export price for lead-acid accumulators (excluding starter batteries) amounted to $X per unit, approximately equating the previous year. Overall, the export price, however, recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2019 an increase of 57% against the previous year. Over the period under review, the average export prices attained the peak figure 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 export markets. In 2022, amid the top suppliers, the country with the highest price was South Africa ($X per unit), while the average price for exports to Togo ($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 South Africa (+11.8%), while the prices for the other major destinations experienced a decline.

Imports of Lead-Acid Accumulators (Excluding Starter Batteries)

Imports into Ghana

In 2022, supplies from abroad of lead-acid accumulators (excluding starter batteries) decreased by -9.1% to X units for the first time since 2017, thus ending a four-year rising trend. Overall, imports, however, showed a significant increase. The pace of growth was the most pronounced in 2019 with an increase of 265% against the previous year. Over the period under review, imports hit record highs at X units in 2015; however, from 2016 to 2022, imports failed to regain momentum.

In value terms, lead-acid accumulators (excluding starter batteries) imports shrank modestly to $X in 2022. Over the period under review, imports, however, recorded a resilient increase. The growth pace was the most rapid in 2019 when imports increased by 343% against the previous year. Over the period under review, imports hit record highs at $X in 2015; however, from 2016 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, China (X units) was the main supplier of lead-acid accumulators (excluding starter batteries) to Ghana, with a 94% share of total imports. It was followed by Thailand (X units), with a 2.4% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of volume from China amounted to +64.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Thailand (-8.5% per year) and India (-18.8% per year).

In value terms, China ($X) constituted the largest supplier of lead-acid accumulators (excluding starter batteries) to Ghana, comprising 84% of total imports. The second position in the ranking was held by Thailand ($X), with a 3.1% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of value from China totaled +72.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Thailand (-15.7% per year) and India (-13.4% per year).

Import Prices by Country

In 2022, the average import price for lead-acid accumulators (excluding starter batteries) amounted to $X per unit, increasing by 7.8% against the previous year. In general, the import price, however, saw a abrupt decrease. The growth pace was the most rapid in 2016 when the average import price increased by 38% against the previous year. Over the period under review, average import prices reached the peak figure at $X per unit in 2012; however, from 2013 to 2022, 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 India ($X per unit), while the price for China ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by India (+6.6%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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