Ghana: Market for Wiring sets used in vehicles, aircraft or ships 2024

Market Size for Wiring sets used in vehicles, aircraft or ships in Ghana

The Ghanian market for wiring sets used in vehicles, aircraft or ships dropped significantly to $X in 2022, falling by -20.6% 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, however, recorded a noticeable expansion. Over the period under review, the market attained the maximum level at $X in 2018; however, from 2019 to 2022, consumption stood at a somewhat lower figure.

Exports of Wiring sets used in vehicles, aircraft or ships

Exports from Ghana

In 2022, shipments abroad of wiring sets used in vehicles, aircraft or ships decreased by -27.4% to X kg for the first time since 2015, thus ending a six-year rising trend. Over the period under review, exports, however, saw a prominent increase. The most prominent rate of growth was recorded in 2020 when exports increased by 206% against the previous year. Over the period under review, the exports of hit record highs at X tons in 2021, and then dropped significantly in the following year.

In value terms, exports of wiring sets used in vehicles, aircraft or ships declined remarkably to $X in 2022. Overall, exports, however, enjoyed a prominent expansion. The growth pace was the most rapid in 2020 with an increase of 218%. Over the period under review, the exports of hit record highs at $X in 2021, and then reduced markedly in the following year.

Exports by Country

Sweden (X kg), Belgium (X kg) and Germany (X kg) were the main destinations of exports of wiring sets used in vehicles, aircraft or ships from Ghana, together accounting for 98% 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 Belgium (with a CAGR of +75.7%), while the other leaders experienced more modest paces of growth.

In value terms, Sweden ($X), Germany ($X) and Belgium ($X) constituted the largest markets for wiring sets used in vehicles, aircraft or ships exported from Ghana worldwide, with a combined 79% share of total exports.

Germany, with a CAGR of +52.3%, saw the highest growth rate of 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 export price for wiring sets used in vehicles, aircraft or ships stood at $X per ton in 2022, shrinking by -7.8% against the previous year. Over the period under review, the export price, however, enjoyed a prominent expansion. The pace of growth was the most pronounced in 2014 an increase of 194% against the previous year. The export price peaked at $X per ton in 2015; however, from 2016 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Germany ($X per ton), while the average price for exports to Belgium ($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 Germany (+11.3%), while the prices for the other major destinations experienced mixed trend patterns.

Imports of Wiring sets used in vehicles, aircraft or ships

Imports into Ghana

In 2022, imports of wiring sets used in vehicles, aircraft or ships into Ghana dropped rapidly to X tons, waning by -28% compared with the previous year. Overall, imports, however, enjoyed a noticeable expansion. The most prominent rate of growth was recorded in 2017 with an increase of 209%. Over the period under review, imports of hit record highs at X tons in 2018; however, from 2019 to 2022, imports failed to regain momentum.

In value terms, imports of wiring sets used in vehicles, aircraft or ships shrank to $X in 2022. In general, imports, however, enjoyed a perceptible expansion. The pace of growth appeared the most rapid in 2015 with an increase of 205% against the previous year. Imports peaked at $X in 2017; however, from 2018 to 2022, imports remained at a lower figure.

Imports by Country

China (X tons), the UK (X tons) and the United Arab Emirates (X tons) were the main suppliers of imports of wiring sets used in vehicles, aircraft or ships to Ghana, with a combined 80% share of total imports. Latvia, South Korea, South Africa, the Netherlands, India and Belgium lagged somewhat behind, together accounting for a further 11%.

From 2012 to 2022, the biggest increases were recorded for Latvia (with a CAGR of +56.4%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the UK ($X), China ($X) and the United Arab Emirates ($X) appeared to be the largest wiring sets used in vehicles, aircraft or ships suppliers to Ghana, together comprising 61% of total imports. The Netherlands, South Africa, India, Latvia, Belgium and South Korea lagged somewhat behind, together comprising a further 17%.

Latvia, with a CAGR of +67.7%, saw the highest growth rate of the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average import price for wiring sets used in vehicles, aircraft or ships amounted to $X per ton, growing by 31% against the previous year. Overall, the import price, however, showed a slight shrinkage. The pace of growth was the most pronounced in 2019 when the average import price increased by 154% against the previous year. Over the period under review, average import prices hit record highs at $X per ton in 2016; however, from 2017 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 ($X per ton), while the price for South Korea ($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 (+19.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :