ECOWAS: Bicycle Lighting Market 2024

Bicycle Lighting Market Size in ECOWAS

In 2022, the ECOWAS bicycle lighting market decreased by X% to $X, falling for the second year in a row after three years of growth. In general, consumption continues to indicate a abrupt descent. The level of consumption peaked at $X in 2013; however, from 2014 to 2022, consumption remained at a lower figure.

Bicycle Lighting Production in ECOWAS

In value terms, bicycle lighting production amounted to $X in 2022 estimated in export price. In general, production saw a abrupt decrease. The pace of growth appeared the most rapid in 2017 when the production volume decreased by X%. Over the period under review, production attained the maximum level at $X in 2012; however, from 2013 to 2022, production stood at a somewhat lower figure.

Bicycle Lighting Exports

Exports in ECOWAS

In 2022, approx. X units of electrical or battery operated lighting or visual signalling for bicycles were exported in ECOWAS; waning by X% on 2021 figures. Overall, exports recorded a deep slump. The growth pace was the most rapid in 2014 when exports increased by X%. The volume of export peaked at X units in 2016; however, from 2017 to 2022, the exports stood at a somewhat lower figure.

In value terms, bicycle lighting exports declined notably to $X in 2022. In general, exports recorded a deep setback. The pace of growth was the most pronounced in 2021 with an increase of X%. Over the period under review, the exports reached the maximum at $X in 2015; however, from 2016 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Ghana was the major exporting country with an export of about X units, which accounted for X% of total exports. It was distantly followed by Cote d'Ivoire (X units), creating a X% share of total exports.

Exports from Ghana decreased at an average annual rate of X% from 2012 to 2022. At the same time, Cote d'Ivoire (X%) displayed positive paces of growth. Moreover, Cote d'Ivoire emerged as the fastest-growing exporter exported in ECOWAS, with a CAGR of X% from 2012-2022. While the share of Ghana (X p.p.) and Cote d'Ivoire (X p.p.) increased significantly, the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Ghana ($X) remains the largest bicycle lighting supplier in ECOWAS, comprising X% of total exports. The second position in the ranking was taken by Cote d'Ivoire ($X), with a X% share of total exports.

In Ghana, bicycle lighting exports declined by an average annual rate of X% over the period from 2012-2022.

Export Prices by Country

The export price in ECOWAS stood at $X per unit in 2022, shrinking by X% against the previous year. Over the period under review, the export price continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2013 when the export price increased by X%. As a result, the export price reached the peak level of $X per unit. From 2014 to 2022, the export prices remained at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Ghana ($X per unit), while Cote d'Ivoire amounted to $X per unit.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Cote d'Ivoire (X%).

Bicycle Lighting Imports

Imports in ECOWAS

In 2022, purchases abroad of electrical or battery operated lighting or visual signalling for bicycles decreased by X% to X units, falling for the second consecutive year after two years of growth. In general, imports continue to indicate a drastic downturn. The growth pace was the most rapid in 2016 when imports increased by X% against the previous year. The volume of import peaked at X units in 2013; however, from 2014 to 2022, imports remained at a lower figure.

In value terms, bicycle lighting imports plummeted to $X in 2022. Over the period under review, imports continue to indicate a deep downturn. The pace of growth appeared the most rapid in 2016 when imports increased by X% against the previous year. Over the period under review, imports attained the maximum at $X in 2013; however, from 2014 to 2022, imports remained at a lower figure.

Imports by Country

Ghana prevails in imports structure, finishing at X units, which was approx. X% of total imports in 2022. Cote d'Ivoire (X units) took a X% share (based on physical terms) of total imports, which put it in second place, followed by Cabo Verde (X%). The following importers - Guinea (X units), Nigeria (X units), Gambia (X units) and Senegal (X units) - together made up X% of total imports.

From 2012 to 2022, average annual rates of growth with regard to bicycle lighting imports into Ghana stood at X%. At the same time, Cabo Verde (X%), Gambia (X%), Cote d'Ivoire (X%) and Guinea (X%) displayed positive paces of growth. Moreover, Cabo Verde emerged as the fastest-growing importer imported in ECOWAS, with a CAGR of X% from 2012-2022. By contrast, Senegal (X%) and Nigeria (X%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Ghana, Cote d'Ivoire, Cabo Verde, Guinea and Gambia increased by X, X, X, X and X percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Cote d'Ivoire ($X), Ghana ($X) and Nigeria ($X) constituted the countries with the highest levels of imports in 2022, together accounting for X% of total imports. Senegal, Guinea, Cabo Verde and Gambia lagged somewhat behind, together comprising a further X%.

Cabo Verde, with a CAGR of X%, saw the highest growth rate of 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 ECOWAS amounted to $X per unit, waning by X% against the previous year. Over the period under review, the import price continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2018 an increase of X%. As a result, import price attained the peak level of $X per unit. From 2019 to 2022, the import prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Senegal ($X per unit), while Ghana ($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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