Western Africa: Market for Electrical Lighting Or Visual Signaling Equipment For Motor Vehicles And Cycles 2025

Market Size for Electrical Lighting Or Visual Signaling Equipment For Motor Vehicles And Cycles in Western Africa

The West African market for electrical lighting or visual signaling equipment for motor vehicles and cycles soared to $X in 2022, jumping by X% against the previous year. Over the period under review, consumption, however, posted strong growth. As a result, consumption reached the peak level of $X. From 2021 to 2022, the growth of the market remained at a somewhat lower figure.

Production of Electrical Lighting Or Visual Signaling Equipment For Motor Vehicles And Cycles in Western Africa

In value terms, lighting equipment for motor vehicles production skyrocketed to $X in 2022 estimated in export price. Overall, production continues to indicate a resilient expansion. The growth pace was the most rapid in 2020 with an increase of X% against the previous year. As a result, production attained the peak level of $X. From 2021 to 2022, production growth remained at a lower figure.

Exports of Electrical Lighting Or Visual Signaling Equipment For Motor Vehicles And Cycles

Exports in Western Africa

In 2022, lighting equipment for motor vehicles exports in Western Africa rose notably to X units, picking up by X% against the previous year. Total exports indicated a modest increase from 2012 to 2022: its volume increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports decreased by X% against 2020 indices. The most prominent rate of growth was recorded in 2020 with an increase of X%. As a result, the exports reached the peak of X units. From 2021 to 2022, the growth of the exports remained at a lower figure.

In value terms, lighting equipment for motor vehicles exports declined rapidly to $X in 2022. Overall, exports continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 when exports increased by X%. As a result, the exports attained the peak of $X. From 2017 to 2022, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Nigeria dominates exports structure, amounting to X units, which was approx. X% of total exports in 2022. Togo (X units), Ghana (X units), Senegal (X units) and Sierra Leone (X units) followed a long way behind the leaders.

Nigeria was also the fastest-growing in terms of the electrical lighting or visual signaling equipment for motor vehicles and cycles exports, with a CAGR of X% from 2012 to 2022. At the same time, Togo (X%), Senegal (X%) and Ghana (X%) displayed positive paces of growth. By contrast, Sierra Leone (X%) illustrated a downward trend over the same period. While the share of Nigeria (X p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Sierra Leone (X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Nigeria ($X), Sierra Leone ($X) and Senegal ($X) constituted the countries with the highest levels of exports in 2022, together accounting for X% of total exports. Togo and Ghana lagged somewhat behind, together accounting for a further X%.

In terms of the main exporting countries, Togo, with a CAGR of X%, saw the highest rates of growth with regard to the value of exports, 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 unit in 2022, shrinking by X% against the previous year. Over the period under review, the export price showed a mild descent. The pace of growth appeared the most rapid in 2021 when the export price increased by X% against the previous year. As a result, the export price attained the peak level of $X per unit, and then fell significantly in the following year.

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 Sierra Leone ($X per unit), while Ghana ($X per unit) was amongst the lowest.

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

Imports of Electrical Lighting Or Visual Signaling Equipment For Motor Vehicles And Cycles

Imports in Western Africa

After two years of growth, overseas purchases of electrical lighting or visual signaling equipment for motor vehicles and cycles decreased by X% to X units in 2022. Over the period under review, imports, however, saw noticeable growth. The pace of growth was the most pronounced in 2017 when imports increased by X% against the previous year. Over the period under review, imports attained the maximum at X units in 2021, and then declined in the following year.

In value terms, lighting equipment for motor vehicles imports declined modestly to $X in 2022. Overall, imports showed a perceptible contraction. The growth pace was the most rapid in 2017 with an increase of X%. As a result, imports attained the peak of $X. From 2018 to 2022, the growth of imports remained at a lower figure.

Imports by Country

Ghana represented the major importing country with an import of around X units, which recorded X% of total imports. Cote d'Ivoire (X units) took a X% share (based on physical terms) of total imports, which put it in second place, followed by Senegal (X%), Guinea (X%) and Nigeria (X%).

Imports into Ghana increased at an average annual rate of X% from 2012 to 2022. At the same time, Cote d'Ivoire (X%) and Senegal (X%) displayed positive paces of growth. Moreover, Cote d'Ivoire emerged as the fastest-growing importer imported in Western Africa, with a CAGR of X% from 2012-2022. By contrast, Guinea (X%) and Nigeria (X%) illustrated a downward trend over the same period. Cote d'Ivoire (X p.p.) and Senegal (X p.p.) significantly strengthened its position in terms of the total imports, while Guinea, Ghana and Nigeria saw its share reduced by X%, X% and X% from 2012 to 2022, respectively.

In value terms, Ghana ($X) constitutes the largest market for imported electrical lighting or visual signaling equipment for motor vehicles and cycles in Western Africa, comprising X% of total imports. The second position in the ranking was held by Senegal ($X), with a X% share of total imports. It was followed by Nigeria, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value in Ghana stood at X%. In the other countries, the average annual rates were as follows: Senegal (X% per year) and Nigeria (X% per year).

Import Prices by Country

In 2022, the import price in Western Africa amounted to $X per unit, with an increase of X% against the previous year. Over the period under review, the import price, however, recorded a abrupt slump. The most prominent rate of growth was recorded in 2015 an increase of X% against the previous year. Over the period under review, import prices hit record highs at $X per unit in 2017; however, from 2018 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 Nigeria ($X per unit), while Cote d'Ivoire ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Guinea (X%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :