Western Africa: Market for Glass Rear-View Mirrors For Vehicles 2024

Market Size for Glass Rear-View Mirrors For Vehicles in Western Africa

The West African glass rear-view vehicle mirror market soared to $X in 2022, increasing by 17% against the previous year. Overall, consumption continues to indicate prominent growth. The level of consumption peaked in 2022 and is expected to retain growth in the immediate term.

Production of Glass Rear-View Mirrors For Vehicles in Western Africa

In value terms, glass rear-view vehicle mirror production stood at $X in 2022 estimated in export price. Overall, production recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2020 when the production volume decreased by 99.9%. Over the period under review, production hit record highs in 2022 and is expected to retain growth in the near future.

Exports of Glass Rear-View Mirrors For Vehicles

Exports by Country

In 2022, Nigeria (X units) and Ghana (X units) represented the largest exporters of glass rear-view mirrors for vehicles in Western Africa, together reaching near 69% of total exports. Togo (X units) ranks next in terms of the total exports with a 12% share, followed by Niger (6.1%). Guinea (X units), Mali (X units) and Cote d'Ivoire (X units) held a relatively small share of total exports.

From 2020 to 2022, the biggest increases were recorded for Cote d'Ivoire (with a CAGR of +22.5%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Nigeria ($X) remains the largest glass rear-view vehicle mirror supplier in Western Africa, comprising 54% of total exports. The second position in the ranking was taken by Togo ($X), with an 18% share of total exports. It was followed by Niger, with a 9.1% share.

From 2020 to 2022, the average annual rate of growth in terms of value in Nigeria was relatively modest. In the other countries, the average annual rates were as follows: Togo (+3.3% per year) and Niger (+3.9% per year).

Export Prices by Country

In 2022, the export price in Western Africa amounted to $X per unit, waning by -32.8% against the previous year. Overall, the export price saw a abrupt setback. The most prominent rate of growth was recorded in 2021 an increase of 1.9% against the previous year. As a result, the export price reached the peak level of $X per unit, and then reduced notably 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 Nigeria ($X per unit), while Ghana ($X per unit) was amongst the lowest.

From 2020 to 2022, the most notable rate of growth in terms of prices was attained by Cote d'Ivoire (+2.4%), while the other leaders experienced more modest paces of growth.

Imports of Glass Rear-View Mirrors For Vehicles

Imports in Western Africa

Glass rear-view vehicle mirror imports soared to X units in 2022, surging by 17% compared with 2021 figures. In general, imports saw resilient growth. The most prominent rate of growth was recorded in 2013 with an increase of 125% against the previous year. Over the period under review, imports attained the peak figure at X units in 2020; however, from 2021 to 2022, imports remained at a lower figure.

In value terms, glass rear-view vehicle mirror imports surged to $X in 2022. Over the period under review, imports posted a noticeable increase. The growth pace was the most rapid in 2020 with an increase of 83%. Over the period under review, imports hit record highs at $X in 2014; however, from 2015 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, Ghana (X units) was the major importer of glass rear-view mirrors for vehicles, achieving 51% of total imports. Cote d'Ivoire (X units) held an 11% share (based on physical terms) of total imports, which put it in second place, followed by Nigeria (8.6%), Benin (8.3%), Guinea (6.5%) and Burkina Faso (4.6%). Senegal (X units) followed a long way behind the leaders.

From 2012 to 2022, average annual rates of growth with regard to glass rear-view vehicle mirror imports into Ghana stood at +23.1%. At the same time, Benin (+38.6%), Guinea (+23.3%), Senegal (+22.3%), Cote d'Ivoire (+17.7%), Burkina Faso (+15.2%) and Nigeria (+6.8%) displayed positive paces of growth. Moreover, Benin emerged as the fastest-growing importer imported in Western Africa, with a CAGR of +38.6% from 2012-2022. Ghana (+15 p.p.), Benin (+6.5 p.p.) and Guinea (+1.9 p.p.) significantly strengthened its position in terms of the total imports, while Burkina Faso and Nigeria saw its share reduced by -1.8% and -16.9% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Ghana ($X) constitutes the largest market for imported glass rear-view mirrors for vehicles in Western Africa, comprising 50% of total imports. The second position in the ranking was held by Benin ($X), with an 11% share of total imports. It was followed by Cote d'Ivoire, with a 10% share.

From 2012 to 2022, the average annual rate of growth in terms of value in Ghana stood at +7.1%. In the other countries, the average annual rates were as follows: Benin (+24.7% per year) and Cote d'Ivoire (+2.2% per year).

Import Prices by Country

The import price in Western Africa stood at $X per unit in 2022, leveling off at the previous year. In general, the import price showed a abrupt decrease. The pace of growth was the most pronounced in 2017 an increase of 104% against the previous year. The level of import peaked at $X per unit in 2012; however, from 2013 to 2022, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Burkina Faso ($X per unit), while Nigeria ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Burkina Faso (-7.7%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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