Western Africa: Suspension System Market 2025

Suspension System Market Size in Western Africa

The West African suspension system market reached $X in 2022, surging by 4.4% against the previous year. The total consumption indicated a perceptible expansion from 2012 to 2022: its value increased at an average annual rate of +2.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by -0.2% against 2020 indices. Over the period under review, the market hit record highs at $X in 2020; however, from 2021 to 2022, consumption failed to regain momentum.

Suspension System Production in Western Africa

In value terms, suspension system production stood at $X in 2022 estimated in export price. Over the period under review, production, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 with an increase of 56% against the previous year. The level of production peaked at $X in 2020; however, from 2021 to 2022, production stood at a somewhat lower figure.

Suspension System Exports

Exports in Western Africa

Suspension system exports reduced to X tons in 2022, which is down by -10.5% on 2021 figures. Overall, exports faced a abrupt contraction. The pace of growth appeared the most rapid in 2014 when exports increased by 73%. Over the period under review, the exports hit record highs at X tons in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

In value terms, suspension system exports declined remarkably to $X in 2022. In general, exports continue to indicate a abrupt curtailment. The growth pace was the most rapid in 2014 when exports increased by 97%. As a result, the exports reached the peak of $X. From 2015 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

Nigeria represented the largest exporter of suspension systems in Western Africa, with the volume of exports resulting at X tons, which was near 73% of total exports in 2022. It was distantly followed by Ghana (X tons), comprising a 17% share of total exports. Senegal (X tons) followed a long way behind the leaders.

Exports from Nigeria decreased at an average annual rate of -13.9% from 2012 to 2022. Ghana (-1.3%) and Senegal (-14.9%) illustrated a downward trend over the same period. Ghana (+11 p.p.) significantly strengthened its position in terms of the total exports, while Nigeria saw its share reduced by -17.3% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Nigeria ($X) remains the largest suspension system supplier in Western Africa, comprising 49% of total exports. The second position in the ranking was taken by Ghana ($X), with a 9.6% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value in Nigeria stood at -12.0%. The remaining exporting countries recorded the following average annual rates of exports growth: Ghana (+3.6% per year) and Senegal (-8.7% per year).

Export Prices by Country

The export price in Western Africa stood at $X per ton in 2022, falling by -5.7% against the previous year. Export price indicated a strong expansion from 2012 to 2022: its price increased at an average annual rate of +5.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, suspension system export price increased by +6.7% against 2020 indices. The growth pace was the most rapid in 2016 when the export price increased by 62% against the previous year. Over the period under review, the export prices hit record highs at $X per ton in 2017; however, from 2018 to 2022, the export prices failed to regain momentum.

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 Senegal ($X per ton), while Ghana ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Senegal (+7.2%), while the other leaders experienced more modest paces of growth.

Suspension System Imports

Imports in Western Africa

In 2022, imports of suspension systems in Western Africa surged to X tons, rising by 21% against the previous year. In general, imports showed a pronounced increase. The pace of growth appeared the most rapid in 2020 with an increase of 76%. As a result, imports attained the peak of X tons. From 2021 to 2022, the growth of imports failed to regain momentum.

In value terms, suspension system imports surged to $X in 2022. Over the period under review, imports continue to indicate a resilient increase. The growth pace was the most rapid in 2020 when imports increased by 58% against the previous year. The level of import peaked in 2022 and is expected to retain growth in the immediate term.

Imports by Country

In 2022, Nigeria (X tons) was the main importer of suspension systems, constituting 74% of total imports. It was distantly followed by Ghana (X tons), creating an 11% share of total imports. The following importers - Cote d'Ivoire (X tons), Senegal (X tons), Mauritania (X tons), Niger (X tons) and Burkina Faso (X tons) - together made up 12% of total imports.

Imports into Nigeria increased at an average annual rate of +2.1% from 2012 to 2022. At the same time, Niger (+43.1%), Burkina Faso (+20.5%), Senegal (+15.2%), Mauritania (+14.6%), Cote d'Ivoire (+12.0%) and Ghana (+10.6%) displayed positive paces of growth. Moreover, Niger emerged as the fastest-growing importer imported in Western Africa, with a CAGR of +43.1% from 2012-2022. Ghana (+5.3 p.p.), Senegal (+1.8 p.p.), Cote d'Ivoire (+1.8 p.p.) and Niger (+1.7 p.p.) significantly strengthened its position in terms of the total imports, while Nigeria saw its share reduced by -14.1% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Nigeria ($X) constitutes the largest market for imported suspension systems in Western Africa, comprising 43% of total imports. The second position in the ranking was taken by Ghana ($X), with a 21% share of total imports. It was followed by Cote d'Ivoire, with an 8% share.

From 2012 to 2022, the average annual growth rate of value in Nigeria totaled +5.5%. In the other countries, the average annual rates were as follows: Ghana (+7.7% per year) and Cote d'Ivoire (+13.6% per year).

Import Prices by Country

The import price in Western Africa stood at $X per ton in 2022, declining by -4.6% against the previous year. Over the period under review, the import price, however, saw a noticeable expansion. The pace of growth was the most pronounced in 2013 when the import price increased by 59% against the previous year. The level of import peaked at $X per ton in 2015; however, from 2016 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 Burkina Faso ($X per ton), while Nigeria ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Nigeria (+3.4%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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