Western Africa: Non-Self-Propelled Fork-Lift Truck Market 2024

Non-Self-Propelled Fork-Lift Truck Market Size in Western Africa

In 2022, the West African non-self-propelled fork-lift truck market decreased by -20% to $X for the first time since 2017, thus ending a four-year rising trend. The total consumption indicated a modest increase from 2012 to 2022: its value increased at an average annual rate of +1.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +40.4% against 2015 indices. As a result, consumption attained the peak level of $X, and then dropped dramatically in the following year.

Non-Self-Propelled Fork-Lift Truck Production in Western Africa

In value terms, non-self-propelled fork-lift truck production amounted to $X in 2022 estimated in export price. Over the period under review, production showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 with an increase of 26% against the previous year. The level of production peaked at $X in 2020; however, from 2021 to 2022, production remained at a lower figure.

Non-Self-Propelled Fork-Lift Truck Exports

Exports in Western Africa

In 2022, overseas shipments of non-self-propelled fork-lift trucks increased by 89% to X units for the first time since 2019, thus ending a two-year declining trend. Overall, exports recorded a moderate increase. The growth pace was the most rapid in 2014 when exports increased by 1,248% against the previous year. Over the period under review, the exports reached the maximum at X units in 2015; however, from 2016 to 2022, the exports remained at a lower figure.

In value terms, non-self-propelled fork-lift truck exports declined significantly to $X in 2022. Over the period under review, exports, however, recorded a abrupt decline. The most prominent rate of growth was recorded in 2021 when exports increased by 85%. As a result, the exports attained the peak of $X, and then fell markedly in the following year.

Exports by Country

Senegal was the main exporter of non-self-propelled fork-lift trucks in Western Africa, with the volume of exports accounting for X units, which was near 70% of total exports in 2022. It was distantly followed by Mauritania (X units), Ghana (X units) and Mali (X units), together mixing up a 25% share of total exports. Cote d'Ivoire (X units) followed a long way behind the leaders.

Exports from Senegal increased at an average annual rate of +27.7% from 2012 to 2022. At the same time, Mauritania (+47.9%) displayed positive paces of growth. Moreover, Mauritania emerged as the fastest-growing exporter exported in Western Africa, with a CAGR of +47.9% from 2012-2022. Ghana experienced a relatively flat trend pattern. By contrast, Mali (-7.4%) and Cote d'Ivoire (-20.3%) illustrated a downward trend over the same period. Senegal (+61 p.p.) and Mauritania (+13 p.p.) significantly strengthened its position in terms of the total exports, while Ghana, Mali and Cote d'Ivoire saw its share reduced by -2.2%, -10.7% and -47% from 2012 to 2022, respectively.

In value terms, Senegal ($X) remains the largest non-self-propelled fork-lift truck supplier in Western Africa, comprising 50% of total exports. The second position in the ranking was taken by Mali ($X), with a 6% share of total exports. It was followed by Ghana, with a 5.1% share.

From 2012 to 2022, the average annual growth rate of value in Senegal amounted to +8.8%. The remaining exporting countries recorded the following average annual rates of exports growth: Mali (-13.6% per year) and Ghana (+1.6% per year).

Export Prices by Country

The export price in Western Africa stood at $X per unit in 2022, which is down by -78.5% against the previous year. Over the period under review, the export price saw a abrupt downturn. The pace of growth was the most pronounced in 2016 an increase of 401% against the previous year. Over the period under review, the export prices reached the maximum at $X per unit in 2021, and then reduced sharply in the following year.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Mali ($X per unit), while Mauritania ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Ghana (+1.1%), while the other leaders experienced a decline in the export price figures.

Non-Self-Propelled Fork-Lift Truck Imports

Imports in Western Africa

In 2022, after four years of growth, there was significant decline in supplies from abroad of non-self-propelled fork-lift trucks, when their volume decreased by -63.8% to X units. Over the period under review, imports, however, showed a prominent increase. The pace of growth was the most pronounced in 2021 with an increase of 242%. As a result, imports attained the peak of X units, and then fell rapidly in the following year.

In value terms, non-self-propelled fork-lift truck imports fell sharply to $X in 2022. In general, imports showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when imports increased by 169%. As a result, imports attained the peak of $X, and then shrank rapidly in the following year.

Imports by Country

Nigeria was the main importing country with an import of around X units, which amounted to 38% of total imports. It was distantly followed by Burkina Faso (X units), Mauritania (X units), Senegal (X units) and Cote d'Ivoire (X units), together generating a 54% share of total imports. The following importers - Ghana (X units) and Togo (X units) - each accounted for a 3.4% share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by Mauritania (with a CAGR of +46.0%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest non-self-propelled fork-lift truck importing markets in Western Africa were Nigeria ($X), Burkina Faso ($X) and Senegal ($X), together comprising 65% of total imports.

Burkina Faso, with a CAGR of +28.0%, recorded the highest growth rate of 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

In 2022, the import price in Western Africa amounted to $X per unit, rising by 41% against the previous year. In general, the import price, however, saw a abrupt slump. Over the period under review, import prices reached the maximum at $X per unit in 2013; however, from 2014 to 2022, import prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Togo ($X per unit), while Mauritania ($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 (-2.5%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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