Western Africa: Inflator System Airbag Market 2024

Inflator System Airbag Market Size in Western Africa

The West African inflator system airbag market totaled $X in 2022, growing by 6.3% against the previous year. Over the period under review, consumption showed a prominent increase. The level of consumption peaked at $X in 2020; however, from 2021 to 2022, consumption stood at a somewhat lower figure.

Inflator System Airbag Production in Western Africa

In value terms, inflator system airbag production rose remarkably to $X in 2022 estimated in export price. Over the period under review, production showed prominent growth. The growth pace was the most rapid in 2019 when the production volume increased by 40% against the previous year. Over the period under review, production reached the maximum level at $X in 2020; however, from 2021 to 2022, production stood at a somewhat lower figure.

Inflator System Airbag Exports

Exports in Western Africa

In 2022, overseas shipments of airbags with inflator system and parts thereof decreased by -99.6% to X kg, falling for the second year in a row after six years of growth. In general, exports, however, enjoyed a measured increase. The growth pace was the most rapid in 2020 with an increase of 941% against the previous year. As a result, the exports reached the peak of X tons. From 2021 to 2022, the growth of the exports remained at a lower figure.

In value terms, inflator system airbag exports declined significantly to $X in 2022. Over the period under review, exports, however, saw measured growth. The pace of growth appeared the most rapid in 2020 when exports increased by 1,879%. As a result, the exports attained the peak of $X. From 2021 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

In 2022, Nigeria (X kg) was the main exporter of airbags with inflator system and parts thereof, mixing up 52% of total exports. Sierra Leone (X kg) took the second position in the ranking, distantly followed by Guinea (X kg) and Senegal (X kg). All these countries together took near 48% share of total exports.

From 2012 to 2022, average annual rates of growth with regard to inflator system airbag exports from Nigeria stood at +1.4%. At the same time, Senegal (+1.6%) displayed positive paces of growth. Moreover, Senegal emerged as the fastest-growing exporter exported in Western Africa, with a CAGR of +1.6% from 2012-2022. By contrast, Sierra Leone (-3.9%) and Guinea (-33.3%) illustrated a downward trend over the same period. While the share of Sierra Leone (+23 p.p.) and Guinea (+13 p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Nigeria (-5.8 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest inflator system airbag supplying countries in Western Africa were Sierra Leone ($X), Nigeria ($X) and Senegal ($X), together accounting for 89% of total exports.

Senegal, with a CAGR of +16.9%, saw the highest growth rate of the value of exports, among the main exporting countries over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The export price in Western Africa stood at $X per ton in 2022, jumping by 33% against the previous year. In general, the export price enjoyed mild growth. The growth pace was the most rapid in 2020 when the export price increased by 90% against the previous year. The level of export peaked in 2022 and is expected to retain growth in the immediate term.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Senegal ($X per ton), while Nigeria ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Senegal (+15.2%), while the other leaders experienced more modest paces of growth.

Inflator System Airbag Imports

Imports in Western Africa

In 2022, overseas purchases of airbags with inflator system and parts thereof were finally on the rise to reach X tons for the first time since 2018, thus ending a three-year declining trend. Total imports indicated buoyant growth from 2012 to 2022: its volume increased at an average annual rate of +7.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, inflator system airbag imports surged to $X in 2022. In general, imports recorded a strong expansion. The most prominent rate of growth was recorded in 2015 with an increase of 56% against the previous year. The level of import peaked at $X in 2019; however, from 2020 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, Saint Helena, Ascension and Tristan da Cunha (X tons) and Nigeria (X tons) represented the key importers of airbags with inflator system and parts thereof in Western Africa, together committing 75% of total imports. It was distantly followed by Senegal (X tons) and Ghana (X tons), together mixing up a 20% share of total imports. Mali (X tons) held a little share of total imports.

From 2012 to 2022, the biggest increases were recorded for Senegal (with a CAGR of +15.8%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Saint Helena, Ascension and Tristan da Cunha ($X), Nigeria ($X) and Ghana ($X) constituted the countries with the highest levels of imports in 2022, with a combined 91% share of total imports.

Saint Helena, Ascension and Tristan da Cunha, with a CAGR of +17.7%, saw the highest rates of growth with regard to the value of imports, in terms of the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in Western Africa stood at $X per ton in 2022, dropping by -13.5% against the previous year. Import price indicated a temperate expansion from 2012 to 2022: its price increased at an average annual rate of +2.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, inflator system airbag import price decreased by -26.1% against 2020 indices. The pace of growth was the most pronounced in 2015 an increase of 48%. The level of import peaked at $X per ton in 2020; however, from 2021 to 2022, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Ghana ($X per ton), while Senegal ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Nigeria (+9.6%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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