Report Update Nov 1, 2024

Ghana - Tyres for Buses or Lorries - Market Analysis, Forecast, Size, Trends and Insights

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Ghana: Market for Tyres For Buses Or Lorries 2024

Market Size for Tyres For Buses Or Lorries in Ghana

After five years of growth, the Ghanian truck and bus tyre market decreased by -5.1% to $X in 2022. Over the period under review, consumption saw a buoyant increase. Truck and bus tyre consumption peaked at $X in 2021, and then dropped in the following year.

Exports of Tyres For Buses Or Lorries

Exports from Ghana

After two years of growth, shipments abroad of tyres for buses or lorries decreased by -15.2% to X units in 2022. Overall, exports continue to indicate a abrupt curtailment. The most prominent rate of growth was recorded in 2016 with an increase of 56%. As a result, the exports attained the peak of X units. From 2017 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, truck and bus tyre exports reduced to $X in 2022. In general, exports recorded a abrupt decrease. The most prominent rate of growth was recorded in 2020 when exports increased by 42%. The exports peaked at $X in 2016; however, from 2017 to 2022, the exports remained at a lower figure.

Exports by Country

Nigeria (X units), Cote d'Ivoire (X units) and Sierra Leone (X units) were the main destinations of truck and bus tyre exports from Ghana, with a combined 71% share of total exports.

From 2012 to 2022, the biggest increases were recorded for Cote d'Ivoire (with a CAGR of +19.3%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for truck and bus tyre exported from Ghana were Nigeria ($X), Sierra Leone ($X) and Cote d'Ivoire ($X), with a combined 74% share of total exports.

Cote d'Ivoire, with a CAGR of +20.7%, saw the highest rates of growth with regard to 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

The average truck and bus tyre export price stood at $X per unit in 2022, approximately mirroring the previous year. Over the period under review, the export price continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 an increase of 23% against the previous year. The export price peaked in 2022 and is likely to see steady growth in the immediate term.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Togo ($X per unit), while the average price for exports to Burkina Faso ($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 Sierra Leone (+3.9%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Tyres For Buses Or Lorries

Imports into Ghana

In 2022, approx. X units of tyres for buses or lorries were imported into Ghana; remaining constant against the previous year. Over the period under review, imports saw a remarkable increase. The most prominent rate of growth was recorded in 2019 when imports increased by 76% against the previous year. Over the period under review, imports reached the maximum at X units in 2020; however, from 2021 to 2022, imports failed to regain momentum.

In value terms, truck and bus tyre imports shrank to $X in 2022. In general, imports saw a remarkable increase. The pace of growth was the most pronounced in 2019 when imports increased by 53% against the previous year. Over the period under review, imports attained the maximum at $X in 2021, and then reduced in the following year.

Imports by Country

In 2022, China (X units) constituted the largest supplier of truck and bus tyre to Ghana, accounting for a 62% share of total imports. Moreover, truck and bus tyre imports from China exceeded the figures recorded by the second-largest supplier, the United States (X units), threefold. The third position in this ranking was held by India (X units), with a 5% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China amounted to +12.0%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (+32.7% per year) and India (-1.8% per year).

In value terms, China ($X) constituted the largest supplier of tyres for buses or lorries to Ghana, comprising 73% of total imports. The second position in the ranking was taken by the United States ($X), with a 14% share of total imports. It was followed by India, with a 3.1% share.

From 2012 to 2022, the average annual rate of growth in terms of value from China stood at +10.7%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (+24.3% per year) and India (-8.9% per year).

Import Prices by Country

The average truck and bus tyre import price stood at $X per unit in 2022, falling by -7.2% against the previous year. In general, the import price continues to indicate a perceptible contraction. The most prominent rate of growth was recorded in 2018 an increase of 28%. The import price peaked at $X per unit 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 Japan ($X per unit), while the price for Thailand ($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 (-1.2%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for tyres for buses or lorries in the world?

The countries with the highest volumes of in 2021 were China, the United States and India, together accounting for 43% of global consumption. These countries were followed by Japan, Portugal, Mexico, Indonesia, France, Germany, the UK, Russia, South Korea and Australia, which together accounted for a further 27%.

What are the largest producers of tyres for buses or lorries in the world?

The country with the largest volume of truck and bus tyre production was China, comprising approx. 41% of total volume. Moreover, truck and bus tyre production in China exceeded the figures recorded by the second-largest producer, India, fivefold. The third position in this ranking was occupied by the United States, with a 6.9% share.

What are the leading suppliers of tyres for buses or lorries to Ghana?

In value terms, China constituted the largest supplier of truck and bus tyre to Ghana, comprising 84% of total imports. The second position in the ranking was occupied by India, with a 6.4% share of total imports.

What are the leading importers of tyres for buses or lorries from Ghana?

In value terms, Togo remains the key foreign market for truck and bus tyre exports from Ghana, comprising 56% of total exports. The second position in the ranking was occupied by Nigeria, with a 10% share of total exports. It was followed by Cote d'Ivoire, with an 8.5% share.

What is the average export price for tyres for buses or lorries in Ghana?

The average truck and bus tyre export price stood at $86 per unit in 2021, dropping by -30.4% against the previous year.

What is the average import price for tyres for buses or lorries in Ghana?

In 2021, the average truck and bus tyre import price amounted to $87 per unit, which is down by -9% against the previous year.

This report provides an in-depth analysis of the market for truck and bus tyre in Ghana. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

Prodcom 22111355 - New pneumatic rubber tyres for buses or lorries with a load index . .121
Prodcom 22111357 - New pneumatic rubber tyres for buses or lorries with a load index > .121

Country coverage:

Ghana

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Trade (exports and imports) in Ghana
Export and import prices
Market trends, drivers and restraints
Key market players and their profiles

Reasons to buy this report:

Take advantage of the latest data
Find deeper insights into current market developments
Discover vital success factors affecting the market

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

How to diversify your business and benefit from new market opportunities
How to load your idle production capacity
How to boost your sales on overseas markets
How to increase your profit margins
How to make your supply chain more sustainable
How to reduce your production and supply chain costs
How to outsource production to other countries
How to prepare your business for global expansion

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business
1. REPORT DESCRIPTION
2. RESEARCH METHODOLOGY AND AI PLATFORM
3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
4. GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance
1. KEY FINDINGS
2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects
1. MARKET SIZE
2. MARKET STRUCTURE
3. TRADE BALANCE
4. PER CAPITA CONSUMPTION
5. MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT

Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO
1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
2. BEST-SELLING PRODUCTS
3. MOST CONSUMED PRODUCT
4. MOST TRADED PRODUCT
5. MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO
1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
2. TOP PRODUCING COUNTRIES
3. TOP EXPORTING COUNTRIES
4. LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO
1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
2. TOP CONSUMING MARKETS
3. UNSATURATED MARKETS
4. TOP IMPORTING MARKETS
5. MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
1. IMPORTS FROM 2012–2023
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
1. EXPORTS FROM 2012–2023
2. EXPORTS BY COUNTRY
3. EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO
LIST OF TABLES
1. Key Findings In 2023
2. Market Volume, In Physical Terms, 2012–2023
3. Market Value, 2012–2023
4. Per Capita Consumption In 2012-2023
5. Imports, In Physical Terms, By Country, 2012–2023
6. Imports, In Value Terms, By Country, 2012–2023
7. Import Prices, By Country Of Origin, 2012–2023
8. Exports, In Physical Terms, By Country, 2012–2023
9. Exports, In Value Terms, By Country, 2012–2023
10. Export Prices, By Country Of Destination, 2012–2023
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2023
2. Market Value, 2012–2023
3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
5. Trade Balance, In Physical Terms, 2012-2023
6. Trade Balance, In Value Terms, 2012-2023
7. Per Capita Consumption, 2012-2023
8. Market Volume Forecast to 2030
9. Market Value Forecast to 2030
10. Products: Market Size And Growth, By Type
11. Products: Average Per Capita Consumption, By Type
12. Products: Exports And Growth, By Type
13. Products: Export Prices And Growth, By Type
14. Production Volume And Growth
15. Exports And Growth
16. Export Prices And Growth
17. Market Size And Growth
18. Per Capita Consumption
19. Imports And Growth
20. Import Prices
21. Production, In Physical Terms, 2012–2023
22. Production, In Value Terms, 2012–2023
23. Imports, In Physical Terms, 2012–2023
24. Imports, In Value Terms, 2012–2023
25. Imports, In Physical Terms, By Country, 2023
26. Imports, In Physical Terms, By Country, 2012–2023
27. Imports, In Value Terms, By Country, 2012–2023
28. Import Prices, By Country Of Origin, 2012–2023
29. Exports, In Physical Terms, 2012–2023
30. Exports, In Value Terms, 2012–2023
31. Exports, In Physical Terms, By Country, 2023
32. Exports, In Physical Terms, By Country, 2012–2023
33. Exports, In Value Terms, By Country, 2012–2023
34. Export Prices, By Country Of Destination, 2012–2023