Western Africa: Safety Seat Belt Market 2024

Safety Seat Belt Market Size in Western Africa

In 2022, the West African safety seat belt market decreased by -29.3% to $X, falling for the second consecutive year after three years of growth. In general, consumption saw a pronounced downturn. As a result, consumption attained the peak level of $X. From 2015 to 2022, the growth of the market failed to regain momentum.

Safety Seat Belt Production in Western Africa

In value terms, safety seat belt production expanded rapidly to $X in 2022 estimated in export price. Over the period under review, production, however, showed a abrupt descent. The most prominent rate of growth was recorded in 2017 when the production volume increased by 241% against the previous year. Over the period under review, production reached the maximum level at $X in 2012; however, from 2013 to 2022, production failed to regain momentum.

Safety Seat Belt Exports

Exports in Western Africa

In 2022, approx. X units of safety seat belts were exported in Western Africa; reducing by -22.9% compared with the previous year. Overall, exports continue to indicate a deep setback. The most prominent rate of growth was recorded in 2020 with an increase of 796%. As a result, the exports attained the peak of X units. From 2021 to 2022, the growth of the exports failed to regain momentum.

In value terms, safety seat belt exports fell remarkably to $X in 2022. In general, exports continue to indicate a perceptible slump. The pace of growth appeared the most rapid in 2020 when exports increased by 824%. As a result, the exports reached the peak of $X. From 2021 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

The shipments of the three major exporters of safety seat belts, namely Nigeria, Ghana and Burkina Faso, represented more than two-thirds of total export. It was distantly followed by Niger (X units), Mali (X units) and Cote d'Ivoire (X units), together achieving a 25% share of total exports. Senegal (X units) followed a long way behind the leaders.

From 2012 to 2022, the biggest increases were recorded for Niger (with a CAGR of +49.1%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Ghana ($X), Burkina Faso ($X) and Nigeria ($X) constituted the countries with the highest levels of exports in 2022, with a combined 78% share of total exports. Cote d'Ivoire, Niger, Mali and Senegal lagged somewhat behind, together comprising a further 21%.

Niger, with a CAGR of +48.2%, recorded 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 unit in 2022, with an increase of 2.9% against the previous year. In general, the export price enjoyed a temperate expansion. The growth pace was the most rapid in 2017 when the export price increased by 115% against the previous year. The level of export peaked in 2022 and is expected to retain growth in the immediate term.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Mali (+21.3%), while the other leaders experienced more modest paces of growth.

Safety Seat Belt Imports

Imports in Western Africa

In 2022, the amount of safety seat belts imported in Western Africa reduced dramatically to X units, with a decrease of -39.7% on 2021. In general, imports saw a abrupt contraction. The growth pace was the most rapid in 2014 with an increase of 174% against the previous year. As a result, imports attained the peak of X units. From 2015 to 2022, the growth of imports failed to regain momentum.

In value terms, safety seat belt imports shrank markedly to $X in 2022. Overall, imports saw a noticeable reduction. The growth pace was the most rapid in 2014 with an increase of 82%. As a result, imports attained the peak of $X. From 2015 to 2022, the growth of imports remained at a somewhat lower figure.

Imports by Country

Senegal was the main importing country with an import of about X units, which reached 40% of total imports. Burkina Faso (X units) held the second position in the ranking, distantly followed by Nigeria (X units), Mali (X units), Cote d'Ivoire (X units) and Ghana (X units). All these countries together held approx. 46% share of total imports. Benin (X units) took a minor share of total imports.

From 2012 to 2022, the biggest increases were recorded for Burkina Faso (with a CAGR of +61.7%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Ghana ($X), Senegal ($X) and Cote d'Ivoire ($X) appeared to be the countries with the highest levels of imports in 2022, together accounting for 63% of total imports. Burkina Faso, Benin, Mali and Nigeria lagged somewhat behind, together accounting for a further 20%.

Benin, with a CAGR of +32.6%, 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

In 2022, the import price in Western Africa amounted to $X per unit, rising by 41% against the previous year. Overall, the import price recorded resilient growth. The pace of growth was the most pronounced in 2013 an increase of 109%. The level of import peaked at $X per unit in 2017; however, from 2018 to 2022, import prices failed to regain momentum.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Cote d'Ivoire (+6.8%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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