ECOWAS: Motorcycle And Scooter Market 2024

Motorcycle And Scooter Market Size in ECOWAS

In 2022, the ECOWAS motorcycle and scooter market decreased by X% to $X, falling for the third consecutive year after two years of growth. The total consumption indicated a noticeable expansion from 2012 to 2022: its value increased at an average annual rate of X% 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 X% against 2019 indices. The level of consumption peaked at $X in 2019; however, from 2020 to 2022, consumption remained at a lower figure.

Motorcycle And Scooter Production in ECOWAS

In value terms, motorcycle and scooter production contracted markedly to $X in 2022 estimated in export price. In general, production, however, saw a significant increase. The pace of growth appeared the most rapid in 2015 with an increase of X%. As a result, production reached the peak level of $X. From 2016 to 2022, production growth remained at a somewhat lower figure.

Motorcycle And Scooter Exports

Exports in ECOWAS

After two years of growth, shipments abroad of motorcycles and scooters decreased by X% to X units in 2022. Overall, exports, however, continue to indicate a significant increase. The pace of growth appeared the most rapid in 2013 when exports increased by X%. The volume of export peaked at X units in 2016; however, from 2017 to 2022, the exports failed to regain momentum.

In value terms, motorcycle and scooter exports dropped markedly to $X in 2022. In general, exports, however, enjoyed a significant increase. The most prominent rate of growth was recorded in 2013 when exports increased by X%. The level of export peaked at $X in 2021, and then declined notably in the following year.

Exports by Country

Togo dominates exports structure, recording X units, which was approx. X% of total exports in 2022. It was distantly followed by Ghana (X units), mixing up a X% share of total exports. Benin (X units) followed a long way behind the leaders.

From 2012 to 2022, average annual rates of growth with regard to motorcycle and scooter exports from Togo stood at X%. At the same time, Ghana (X%) and Benin (X%) displayed positive paces of growth. Moreover, Ghana emerged as the fastest-growing exporter exported in ECOWAS, with a CAGR of X% from 2012-2022. From 2012 to 2022, the share of Togo and Ghana increased by X and X percentage points, respectively.

In value terms, Togo ($X) remains the largest motorcycle and scooter supplier in ECOWAS, comprising X% of total exports. The second position in the ranking was held by Ghana ($X), with a X% share of total exports.

From 2012 to 2022, the average annual growth rate of value in Togo stood at X%. The remaining exporting countries recorded the following average annual rates of exports growth: Ghana (X% per year) and Benin (X% per year).

Export Prices by Country

The export price in ECOWAS stood at $X per unit in 2022, with a decrease of X% against the previous year. In general, the export price, however, recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2017 an increase of X% against the previous year. Over the period under review, the export prices attained the maximum at $X per unit in 2021, and then fell significantly in the following year.

Average prices varied noticeably amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Ghana ($X per unit), while Benin ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Ghana (X%), while the other leaders experienced mixed trends in the export price figures.

Motorcycle And Scooter Imports

Imports in ECOWAS

In 2022, overseas purchases of motorcycles and scooters decreased by X% to X units, falling for the second year in a row after four years of growth. Over the period under review, imports, however, saw a measured increase. The most prominent rate of growth was recorded in 2019 when imports increased by X% against the previous year. Over the period under review, imports reached the peak figure at X units in 2020; however, from 2021 to 2022, imports failed to regain momentum.

In value terms, motorcycle and scooter imports dropped to $X in 2022. Overall, imports, however, enjoyed a mild expansion. The growth pace was the most rapid in 2019 when imports increased by X%. The level of import peaked at $X in 2020; however, from 2021 to 2022, imports failed to regain momentum.

Imports by Country

The purchases of the four major importers of motorcycles and scooters, namely Mali, Guinea, Nigeria and Ghana, represented more than two-thirds of total import. The following importers - Sierra Leone (X units), Liberia (X units) and Togo (X units) - each reached a X% share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by Ghana (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Nigeria ($X) constitutes the largest market for imported motorcycles and scooters in ECOWAS, comprising X% of total imports. The second position in the ranking was taken by Ghana ($X), with a X% share of total imports. It was followed by Guinea, with an X% share.

From 2012 to 2022, the average annual growth rate of value in Nigeria stood at X%. In the other countries, the average annual rates were as follows: Ghana (X% per year) and Guinea (X% per year).

Import Prices by Country

In 2022, the import price in ECOWAS amounted to $X per unit, dropping by X% against the previous year. In general, the import price continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 an increase of X%. The level of import peaked at $X per unit in 2019; however, from 2020 to 2022, import prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Nigeria ($X per unit), while Liberia ($X per unit) was amongst the lowest.

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

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :