Western Africa: Passenger Car Tyre Market 2024

Passenger Car Tyre Market Size in Western Africa

The West African passenger car tyre market totaled $X in 2021, with an increase of 10% against the previous year. Overall, consumption saw a modest increase. The level of consumption peaked at $X in 2019; however, from 2020 to 2021, consumption remained at a lower figure.

Passenger Car Tyre Production in Western Africa

In value terms, passenger car tyre production expanded significantly to $X in 2021 estimated in export price. Overall, production continues to indicate strong growth. The growth pace was the most rapid in 2015 when the production volume increased by 61%. Over the period under review, production hit record highs at $X in 2019; however, from 2020 to 2021, production stood at a somewhat lower figure.

Passenger Car Tyre Exports

Exports in Western Africa

In 2021, shipments abroad of tyres for motor cars increased by 17% to X units, rising for the second year in a row after two years of decline. Over the period under review, exports enjoyed a strong increase. The pace of growth appeared the most rapid in 2017 when exports increased by 65%. As a result, the exports reached the peak of X units. From 2018 to 2021, the growth of the exports remained at a lower figure.

In value terms, passenger car tyre exports soared to $X in 2021. Overall, exports saw a strong expansion. The most prominent rate of growth was recorded in 2017 with an increase of 79%. The level of export peaked in 2021 and is expected to retain growth in the near future.

Exports by Country

In 2021, Ghana (X units), distantly followed by Togo (X units), Senegal (X units), Guinea (X units), Sierra Leone (X units) and Mali (X units) represented the main exporters of tyres for motor cars, together generating 92% of total exports. Nigeria (X units) followed a long way behind the leaders.

From 2012 to 2021, the biggest increases were recorded for Togo (with a CAGR of +45.5%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest passenger car tyre supplying countries in Western Africa were Ghana ($X), Togo ($X) and Senegal ($X), with a combined 69% share of total exports.

Togo, with a CAGR of +46.6%, recorded the highest rates of growth with regard to the value of exports, in terms of 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

In 2021, the export price in Western Africa amounted to $X per unit, surging by 12% against the previous year. Overall, the export price showed a relatively flat trend pattern. Over the period under review, the export prices reached the peak figure at $X per unit in 2014; however, from 2015 to 2021, the export prices remained at a lower figure.

Prices varied noticeably country of origin: the country with the highest price was Sierra Leone ($X per unit), while Guinea ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Ghana (+1.1%), while the other leaders experienced more modest paces of growth.

Passenger Car Tyre Imports

Imports in Western Africa

In 2021, passenger car tyre imports in Western Africa expanded slightly to X units, growing by 2.8% compared with 2020. Over the period under review, imports, however, continue to indicate a deep setback. The growth pace was the most rapid in 2019 with an increase of 22%. The volume of import peaked at X units in 2013; however, from 2014 to 2021, imports failed to regain momentum.

In value terms, passenger car tyre imports totaled $X in 2021. Overall, imports, however, saw a deep contraction. The most prominent rate of growth was recorded in 2019 when imports increased by 16%. The level of import peaked at $X in 2013; however, from 2014 to 2021, imports remained at a lower figure.

Imports by Country

Ghana represented the largest importing country with an import of about X units, which amounted to 36% of total imports. Cote d'Ivoire (X units) held the second position in the ranking, distantly followed by Nigeria (X units), Guinea (X units), Senegal (X units), Burkina Faso (X units) and Mali (X units). All these countries together held near 51% share of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by Senegal (with a CAGR of +6.7%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest passenger car tyre importing markets in Western Africa were Ghana ($X), Cote d'Ivoire ($X) and Nigeria ($X), together comprising 66% of total imports. Senegal, Guinea, Burkina Faso and Mali lagged somewhat behind, together comprising a further 21%.

Among the main importing countries, Senegal, with a CAGR of +6.1%, recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the import price in Western Africa amounted to $X per unit, growing by 8.4% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +1.7%. The most prominent rate of growth was recorded in 2014 when the import price increased by 35%. Over the period under review, import prices hit record highs in 2021 and is likely to continue growth in the near future.

Average prices varied somewhat amongst the major importing countries. In 2021, major importing countries recorded the following prices: in Ghana ($X per unit) and Mali ($X per unit), while Guinea ($X per unit) and Burkina Faso ($X per unit) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Nigeria (+2.2%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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