Ghana: Self-Propelled Rock Cutter Market 2024

Self-Propelled Rock Cutter Market Size in Ghana

The Ghanian self-propelled rock cutter market surged to $X in 2021, growing by 183% against the previous year. Over the period under review, consumption posted significant growth. Self-propelled rock cutter consumption peaked at $X in 2018; however, from 2019 to 2021, consumption failed to regain momentum.

Self-Propelled Rock Cutter Production in Ghana

In value terms, self-propelled rock cutter production reached $X in 2021 estimated in export price. The total output value increased at an average annual rate of +4.2% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2016 when the production volume increased by 20% against the previous year. Over the period under review, production hit record highs at $X in 2017; however, from 2018 to 2021, production stood at a somewhat lower figure.

Self-Propelled Rock Cutter Exports

Exports from Ghana

Self-propelled rock cutter exports from Ghana rose markedly to X units in 2019, increasing by 5% on 2018 figures. In general, exports enjoyed a remarkable increase. The exports peaked at X units in 2016; however, from 2017 to 2019, the exports failed to regain momentum.

In value terms, self-propelled rock cutter exports shrank to $X in 2019. Over the period under review, exports showed a significant increase. Over the period under review, the exports attained the maximum at $X in 2016; however, from 2017 to 2019, the exports remained at a lower figure.

Exports by Country

Liberia (X units) was the main destination for self-propelled rock cutter exports from Ghana, accounting for a 90% share of total exports. Moreover, self-propelled rock cutter exports to Liberia exceeded the volume sent to the second major destination, Cote d'Ivoire (X units), tenfold.

From 2012 to 2019, the average annual growth rate of volume to Liberia was relatively modest.

In value terms, Liberia ($X) emerged as the key foreign market for self-propelled coal or rock cutters and tunnelling machinery exports from Ghana, comprising 85% of total exports. The second position in the ranking was taken by Cote d'Ivoire ($X), with a 15% share of total exports.

From 2012 to 2019, the average annual rate of growth in terms of value to Liberia was relatively modest.

Export Prices by Country

The average self-propelled rock cutter export price stood at $X per unit in 2019, shrinking by -11.8% against the previous year. In general, the export price, however, recorded a remarkable increase. Over the period under review, the average export prices attained the maximum at $X per unit in 2016; however, from 2017 to 2019, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major foreign markets. In 2019, the country with the highest price was Cote d'Ivoire ($X per unit), while the average price for exports to Liberia amounted to $X per unit.

From 2012 to 2019, the most notable rate of growth in terms of prices was recorded for supplies to Cote d'Ivoire (+40.7%).

Self-Propelled Rock Cutter Imports

Imports into Ghana

In 2021, approx. X units of self-propelled coal or rock cutters and tunnelling machinery were imported into Ghana; growing by 170% on the previous year's figure. In general, imports enjoyed a significant increase. The pace of growth appeared the most rapid in 2017 with an increase of 343%. Over the period under review, imports attained the maximum at X units in 2018; however, from 2019 to 2021, imports failed to regain momentum.

In value terms, self-propelled rock cutter imports soared to $X in 2021. Overall, imports continue to indicate significant growth. The most prominent rate of growth was recorded in 2017 with an increase of 253% against the previous year. Over the period under review, imports hit record highs in 2021 and are likely to continue growth in years to come.

Imports by Country

In 2021, Finland (X units) constituted the largest self-propelled rock cutter supplier to Ghana, with a 27% share of total imports. Moreover, self-propelled rock cutter imports from Finland exceeded the figures recorded by the second-largest supplier, China (X units), threefold. The third position in this ranking was held by Japan (X units), with a 9.4% share.

From 2012 to 2021, the average annual growth rate of volume from Finland amounted to +38.0%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+55.1% per year) and Japan (+21.3% per year).

In value terms, Finland ($X) constituted the largest supplier of self-propelled coal or rock cutters and tunnelling machinery to Ghana, comprising 36% of total imports. The second position in the ranking was taken by Germany ($X), with an 11% share of total imports. It was followed by India, with a 5.7% share.

From 2012 to 2021, the average annual growth rate of value from Finland stood at +35.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+60.0% per year) and India (+179.1% per year).

Import Prices by Country

In 2021, the average self-propelled rock cutter import price amounted to $X per unit, with an increase of 14% against the previous year. Overall, the import price, however, recorded a mild setback. The most prominent rate of growth was recorded in 2020 an increase of 42% against the previous year. The import price peaked at $X per unit in 2015; however, from 2016 to 2021, import prices stood at a somewhat lower figure.

Prices varied noticeably country of origin: the country with the highest price was India ($X per unit), while the price for the Netherlands ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by India (+48.2%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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