Ghana: Road Wheel Market 2025

Road Wheel Market Size in Ghana

The Ghanian road wheel market reached $X in 2022, remaining relatively unchanged 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 enjoyed a noticeable increase. As a result, consumption attained the peak level of $X; afterwards, it flattened through to 2022.

Road Wheel Exports

Exports from Ghana

In 2022, shipments abroad of road wheels decreased by -0.4% to X tons, falling for the second year in a row after two years of growth. In general, exports, however, continue to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2017 with an increase of 1,401% against the previous year. The exports peaked at X tons in 2020; however, from 2021 to 2022, the exports failed to regain momentum.

In value terms, road wheel exports contracted to $X in 2022. Over the period under review, exports saw a mild shrinkage. The most prominent rate of growth was recorded in 2017 with an increase of 1,505% against the previous year. The exports peaked at $X in 2020; however, from 2021 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Niger (X tons) was the main destination for road wheel exports from Ghana, with a 78% share of total exports. Moreover, road wheel exports to Niger exceeded the volume sent to the second major destination, Burkina Faso (X kg), sixfold. The third position in this ranking was taken by Mali (X kg), with a 4.4% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Niger amounted to +50.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Burkina Faso (-14.0% per year) and Mali (-10.2% per year).

In value terms, Niger ($X) remains the key foreign market for road wheels exports from Ghana, comprising 76% of total exports. The second position in the ranking was held by Mali ($X), with a 20% share of total exports. It was followed by Burkina Faso, with a 2.3% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Niger amounted to +42.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Mali (+21.7% per year) and Burkina Faso (-19.1% per year).

Export Prices by Country

In 2022, the average road wheel export price amounted to $X per ton, waning by -9.1% against the previous year. Overall, the export price recorded a noticeable decrease. The pace of growth was the most pronounced in 2015 an increase of 38%. The export price peaked at $X per ton in 2017; however, from 2018 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 Mali ($X per ton), while the average price for exports to Burkina Faso ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Mali (+35.5%), while the prices for the other major destinations experienced a decline.

Road Wheel Imports

Imports into Ghana

Road wheel imports into Ghana rose rapidly to X tons in 2022, surging by 7.3% on 2021. Overall, imports recorded a prominent expansion. The most prominent rate of growth was recorded in 2020 with an increase of 111% against the previous year. As a result, imports attained the peak of X tons. From 2021 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, road wheel imports reduced slightly to $X in 2022. In general, imports recorded a modest increase. The most prominent rate of growth was recorded in 2020 when imports increased by 116%. Over the period under review, imports reached the peak figure at $X in 2021, and then contracted slightly in the following year.

Imports by Country

In 2022, China (X tons) constituted the largest road wheel supplier to Ghana, accounting for a 60% share of total imports. Moreover, road wheel imports from China exceeded the figures recorded by the second-largest supplier, Japan (X tons), sixfold. The third position in this ranking was held by Spain (X tons), with an 8.4% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China stood at +16.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (+15.8% per year) and Spain (+9.0% per year).

In value terms, China ($X) constituted the largest supplier of road wheels to Ghana, comprising 73% of total imports. The second position in the ranking was held by Japan ($X), with a 6% share of total imports. It was followed by the United Arab Emirates, with a 4.6% share.

From 2012 to 2022, the average annual rate of growth in terms of value from China totaled +17.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (+1.6% per year) and the United Arab Emirates (-2.4% per year).

Import Prices by Country

In 2022, the average road wheel import price amounted to $X per ton, waning by -9.3% against the previous year. Overall, the import price showed a noticeable reduction. The pace of growth appeared the most rapid in 2021 an increase of 28% against the previous year. Over the period under review, average import prices attained the maximum at $X per ton in 2012; however, from 2013 to 2022, import prices remained at a 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 Belgium ($X per ton), while the price for Spain ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Hong Kong SAR (+3.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :