Africa: Truck Market 2024

Truck Market Size in Africa

The African truck market reduced to $X in 2022, waning by X% against the previous year. Over the period under review, consumption, however, showed a abrupt setback. Over the period under review, the market attained the peak level at $X in 2014; however, from 2015 to 2022, consumption failed to regain momentum.

Truck Production in Africa

In value terms, truck production shrank to $X in 2022 estimated in export price. Overall, production saw a noticeable contraction. The pace of growth was the most pronounced in 2021 with an increase of X%. The level of production peaked at $X in 2014; however, from 2015 to 2022, production remained at a lower figure.

Truck Exports

Exports in Africa

In 2022, the amount of trucks exported in Africa shrank to X units, with a decrease of X% on the previous year's figure. Overall, exports, however, continue to indicate a resilient expansion. The most prominent rate of growth was recorded in 2016 with an increase of X% against the previous year. Over the period under review, the exports attained the maximum at X units in 2021, and then dropped in the following year.

In value terms, truck exports contracted slightly to $X in 2022. The total export value increased at an average annual rate of X% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2021 when exports increased by X% against the previous year. As a result, the exports reached the peak of $X, and then dropped in the following year.

Exports by Country

The shipments of the one major exporters of trucks, namely South Africa, represented more than two-thirds of total export.

South Africa was also the fastest-growing in terms of the trucks exports, with a CAGR of X% from 2012 to 2022. South Africa (X p.p.) significantly strengthened its position in terms of the total exports, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, South Africa ($X) also remains the largest truck supplier in Africa.

From 2012 to 2022, the average annual rate of growth in terms of value in South Africa totaled X%.

Export Prices by Country

The export price in Africa stood at $X per unit in 2022, growing by X% against the previous year. In general, the export price, however, saw a abrupt decline. The growth pace was the most rapid in 2014 an increase of X%. As a result, the export price attained the peak level of $X per unit. From 2015 to 2022, the export prices failed to regain momentum.

As there is only one major export destination, the average price level is determined by prices for South Africa.

From 2012 to 2022, the rate of growth in terms of prices for South Africa amounted to X% per year.

Truck Imports

Imports in Africa

In 2022, approx. X units of trucks were imported in Africa; growing by X% on the year before. Over the period under review, imports, however, continue to indicate a slight shrinkage. The pace of growth was the most pronounced in 2021 when imports increased by X% against the previous year. Over the period under review, imports attained the maximum at X units in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

In value terms, truck imports rose notably to $X in 2022. Overall, imports, however, recorded a noticeable shrinkage. The pace of growth appeared the most rapid in 2021 with an increase of X%. The level of import peaked at $X in 2012; however, from 2013 to 2022, imports remained at a lower figure.

Imports by Country

Nigeria represented the key importer of trucks in Africa, with the volume of imports recording X units, which was near X% of total imports in 2022. It was distantly followed by Zambia (X units) and South Africa (X units), together committing a X% share of total imports. The following importers - Algeria (X units), Morocco (X units), Ghana (X units), Burkina Faso (X units), Tanzania (X units), Zimbabwe (X units), Libya (X units), Cote d'Ivoire (X units), Uganda (X units) and Angola (X units) - together made up X% of total imports.

From 2012 to 2022, average annual rates of growth with regard to truck imports into Nigeria stood at X%. At the same time, Zambia (X%), South Africa (X%), Burkina Faso (X%), Morocco (X%), Cote d'Ivoire (X%) and Uganda (X%) displayed positive paces of growth. Moreover, Zambia emerged as the fastest-growing importer imported in Africa, with a CAGR of X% from 2012-2022. Libya and Tanzania experienced a relatively flat trend pattern. By contrast, Zimbabwe (X%), Angola (X%), Ghana (X%) and Algeria (X%) illustrated a downward trend over the same period. Zambia (X p.p.), Nigeria (X p.p.), South Africa (X p.p.), Burkina Faso (X p.p.) and Morocco (X p.p.) significantly strengthened its position in terms of the total imports, while Angola, Ghana and Algeria saw its share reduced by X%, X% and X% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, South Africa ($X), Nigeria ($X) and Morocco ($X) constituted the countries with the highest levels of imports in 2022, together comprising X% of total imports. Algeria, Angola, Ghana, Tanzania, Zambia, Cote d'Ivoire, Zimbabwe, Libya, Uganda and Burkina Faso lagged somewhat behind, together accounting for a further X%.

In terms of the main importing countries, Cote d'Ivoire, with a CAGR of X%, recorded the highest growth rate of 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

The import price in Africa stood at $X per unit in 2022, reducing by X% against the previous year. In general, the import price saw a perceptible setback. The pace of growth was the most pronounced in 2014 an increase of X%. As a result, import price reached the peak level of $X per unit. From 2015 to 2022, the 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 Angola ($X per unit), while Burkina Faso ($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 (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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