Western Africa: Market for Cycles with Auxiliary Motors and Side Cars 2024

Market Size for Cycles with Auxiliary Motors and Side Cars in Western Africa

In 2021, the West African market for cycles with auxiliary motors and side cars decreased by -9.5% to $X, falling for the third consecutive year after three years of growth. In general, consumption, however, enjoyed a significant expansion. Over the period under review, the market hit record highs at $X in 2018; however, from 2019 to 2021, consumption stood at a somewhat lower figure.

Production of Cycles with Auxiliary Motors and Side Cars in Western Africa

In value terms, production of cycles with auxiliary motors and side cars reduced to $X in 2021 estimated in export price. In general, production, however, showed significant growth. The pace of growth was the most pronounced in 2017 with an increase of 150% against the previous year. Over the period under review, production of attained the maximum level at $X in 2020, and then reduced in the following year.

Exports of Cycles with Auxiliary Motors and Side Cars

Exports in Western Africa

In 2021, approx. X units of cycles with auxiliary motors and side cars were exported in Western Africa; reducing by -69.7% on the year before. Overall, exports recorded a sharp curtailment. The pace of growth was the most pronounced in 2015 when exports increased by 167% against the previous year. Over the period under review, the exports of attained the maximum at X units in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

In value terms, exports of cycles with auxiliary motors and side cars reduced notably to $X in 2021. In general, exports saw a precipitous decrease. The pace of growth appeared the most rapid in 2015 with an increase of 212% against the previous year. The level of export peaked at $X in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

Exports by Country

Guinea (X units), Gambia (X units) and Togo (X units) represented roughly 66% of total exports in 2021. Mali (X units) ranks next in terms of the total exports with an 11% share, followed by Nigeria (9.5%) and Cote d'Ivoire (5.2%). The following exporters - Ghana (X units) and Senegal (X units) - together made up 6% of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the leading exporting countries, was attained by Guinea (with a CAGR of +44.8%), while the other leaders experienced more modest paces of growth.

In value terms, Gambia ($X), Nigeria ($X) and Mali ($X) constituted the countries with the highest levels of exports in 2021, with a combined 56% share of total exports. Ghana, Guinea, Togo, Cote d'Ivoire and Senegal lagged somewhat behind, together comprising a further 40%.

Among the main exporting countries, Guinea, with a CAGR of +93.8%, 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

In 2021, the export price in Western Africa amounted to $X per unit, increasing by 71% against the previous year. In general, the export price, however, continues to indicate a deep contraction. The pace of growth was the most pronounced in 2018 when the export price increased by 89% against the previous year. Over the period under review, the export prices hit record highs at $X per unit in 2012; however, from 2013 to 2021, the export prices failed to regain momentum.

There were significant differences in the average prices amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was Senegal ($X per unit), while Guinea ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Togo (+42.2%), while the other leaders experienced more modest paces of growth.

Imports of Cycles with Auxiliary Motors and Side Cars

Imports in Western Africa

In 2021, purchases abroad of cycles with auxiliary motors and side cars decreased by -3.3% to X units, falling for the third year in a row after three years of growth. Over the period under review, imports, however, showed a buoyant increase. The most prominent rate of growth was recorded in 2014 when imports increased by 576%. As a result, imports reached the peak of X units. From 2015 to 2021, the growth of imports of remained at a somewhat lower figure.

In value terms, imports of cycles with auxiliary motors and side cars soared to $X in 2021. In general, imports, however, continue to indicate resilient growth. The pace of growth was the most pronounced in 2016 with an increase of 72% against the previous year. Over the period under review, imports of hit record highs in 2021 and are likely to see gradual growth in years to come.

Imports by Country

Nigeria represented the major importing country with an import of around X units, which resulted at 57% of total imports. It was distantly followed by Senegal (X units), making up a 33% share of total imports. Ghana (X units), Guinea (X units) and Cote d'Ivoire (X units) followed a long way behind the leaders.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by Nigeria (with a CAGR of +62.6%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Nigeria ($X) constitutes the largest market for imported cycles with auxiliary motors and side cars in Western Africa, comprising 72% of total imports. The second position in the ranking was taken by Senegal ($X), with a 20% share of total imports. It was followed by Ghana, with a 2.2% share.

From 2012 to 2021, the average annual growth rate of value in Nigeria amounted to +56.8%. The remaining importing countries recorded the following average annual rates of imports growth: Senegal (+5.8% per year) and Ghana (+31.1% per year).

Import Prices by Country

The import price in Western Africa stood at $X per unit in 2021, with an increase of 67% against the previous year. Over the period under review, the import price recorded a buoyant expansion. The pace of growth appeared the most rapid in 2015 when the import price increased by 375%. The level of import peaked in 2021 and is likely to see steady growth in years to come.

There were significant differences in the average prices amongst the major importing countries. In 2021, amid the top importers, the country with the highest price was Nigeria ($X per unit), while Guinea ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Cote d'Ivoire (+7.7%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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