Ghana: Market for Steering Wheels, Steering Columns And Steering Boxes 2025

Market Size for Steering Wheels, Steering Columns And Steering Boxes in Ghana

The Ghanian steering wheels and columns market fell remarkably to $X in 2022, which is down by -24.1% 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). In general, consumption showed a noticeable contraction. Over the period under review, the market attained the maximum level at $X in 2012; however, from 2013 to 2022, consumption stood at a somewhat lower figure.

Exports of Steering Wheels, Steering Columns And Steering Boxes

Exports from Ghana

In 2022, shipments abroad of steering wheels, steering columns and steering boxes decreased by -57% to X tons for the first time since 2019, thus ending a two-year rising trend. Overall, exports recorded a perceptible reduction. The pace of growth appeared the most rapid in 2021 when exports increased by 756% against the previous year. As a result, the exports reached the peak of X tons, and then shrank rapidly in the following year.

In value terms, steering wheels and columns exports dropped sharply to $X in 2022. In general, exports, however, saw a pronounced expansion. The pace of growth was the most pronounced in 2021 when exports increased by 711% against the previous year. As a result, the exports reached the peak of $X, and then fell remarkably in the following year.

Exports by Country

The United States (X kg), Cote d'Ivoire (X kg) and Nigeria (X kg) were the main destinations of steering wheels and columns exports from Ghana, together comprising 98% of total exports.

From 2012 to 2022, the biggest increases were recorded for the United States (with a CAGR of +72.5%), while shipments for the other leaders experienced mixed trend patterns.

In value terms, the largest markets for steering wheels and columns exported from Ghana were Nigeria ($X), the United States ($X) and Cote d'Ivoire ($X), with a combined 93% share of total exports.

The United States, with a CAGR of +100.5%, recorded the highest rates of growth with regard to the value of exports, among 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

The average steering wheels and columns export price stood at $X per ton in 2022, surging by 31% against the previous year. In general, the export price posted a prominent expansion. The pace of growth appeared the most rapid in 2014 an increase of 369%. As a result, the export price reached the peak level of $X per ton. From 2015 to 2022, the average export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Nigeria ($X per ton), while the average price for exports to Cote d'Ivoire ($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 Nigeria (+41.8%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Steering Wheels, Steering Columns And Steering Boxes

Imports into Ghana

In 2022, imports of steering wheels, steering columns and steering boxes into Ghana fell remarkably to X tons, which is down by -24.7% compared with the previous year. Overall, imports showed a noticeable downturn. The most prominent rate of growth was recorded in 2017 with an increase of 67%. Imports peaked at X tons in 2021, and then contracted significantly in the following year.

In value terms, steering wheels and columns imports shrank notably to $X in 2022. Over the period under review, imports recorded a perceptible setback. The pace of growth appeared the most rapid in 2021 with an increase of 93% against the previous year. Imports peaked at $X in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, China (X tons) constituted the largest steering wheels and columns supplier to Ghana, accounting for a 69% share of total imports. Moreover, steering wheels and columns imports from China exceeded the figures recorded by the second-largest supplier, the UK (X tons), eightfold. The third position in this ranking was taken by Spain (X tons), with a 4.7% share.

From 2012 to 2022, the average annual growth rate of volume from China amounted to +25.5%. The remaining supplying countries recorded the following average annual rates of imports growth: the UK (+14.2% per year) and Spain (+14.9% per year).

In value terms, China ($X) constituted the largest supplier of steering wheels, steering columns and steering boxes to Ghana, comprising 82% of total imports. The second position in the ranking was taken by the United Arab Emirates ($X), with a 4.5% share of total imports. It was followed by Turkey, with a 3.8% share.

From 2012 to 2022, the average annual rate of growth in terms of value from China stood at +24.8%. The remaining supplying countries recorded the following average annual rates of imports growth: the United Arab Emirates (+4.5% per year) and Turkey (+37.9% per year).

Import Prices by Country

The average steering wheels and columns import price stood at $X per ton in 2022, therefore, remained relatively stable against the previous year. Overall, the import price, however, recorded a slight slump. The growth pace was the most rapid in 2020 an increase of 35% against the previous year. Over the period under review, average import prices attained the peak figure at $X per ton in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Belgium ($X per ton), while the price for Italy ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Belgium (+10.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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