ECOWAS: Market for Tyres For Buses Or Lorries 2024

Market Size for Tyres For Buses Or Lorries in ECOWAS

The ECOWAS truck and bus tyre market was estimated at $X in 2022, remaining relatively unchanged against the previous year. Over the period under review, consumption showed a pronounced descent. The level of consumption peaked at $X in 2014; however, from 2015 to 2022, consumption stood at a somewhat lower figure.

Production of Tyres For Buses Or Lorries in ECOWAS

In value terms, truck and bus tyre production shrank modestly to $X in 2022 estimated in export price. The total production indicated a measured 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, production decreased by X% against 2019 indices. The most prominent rate of growth was recorded in 2013 when the production volume increased by X% against the previous year. As a result, production reached the peak level of $X. From 2014 to 2022, production growth failed to regain momentum.

Exports of Tyres For Buses Or Lorries

Exports in ECOWAS

In 2022, overseas shipments of tyres for buses or lorries decreased by X% to X units for the first time since 2019, thus ending a two-year rising trend. In general, exports saw a deep setback. The pace of growth was the most pronounced in 2015 with an increase of X% against the previous year. The volume of export peaked at X units in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

In value terms, truck and bus tyre exports dropped rapidly to $X in 2022. Over the period under review, exports continue to indicate a abrupt shrinkage. The pace of growth appeared the most rapid in 2015 when exports increased by X% against the previous year. The level of export peaked at $X in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

Exports by Country

Senegal (X units) and Mali (X units) represented the major exporters of tyres for buses or lorries in 2022, resulting at near X% and X% of total exports, respectively. Togo (X units) ranks next in terms of the total exports with a X% share, followed by Sierra Leone (X%) and Cote d'Ivoire (X%). Guinea (X units) took a minor share of total exports.

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

In value terms, the largest truck and bus tyre supplying countries in ECOWAS were Senegal ($X), Mali ($X) and Togo ($X), with a combined X% share of total exports.

Among the main exporting countries, Mali, with a CAGR of X%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

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 recorded a mild slump. The most prominent rate of growth was recorded in 2018 an increase of X%. The level of export peaked at $X per unit in 2014; however, from 2015 to 2022, the export prices remained at a lower figure.

Average prices varied noticeably amongst the major exporting countries. In 2022, major exporting countries recorded the following prices: in Togo ($X per unit) and Guinea ($X per unit), while Sierra Leone ($X per unit) and Cote d'Ivoire ($X per unit) were 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 a decline in the export price figures.

Imports of Tyres For Buses Or Lorries

Imports in ECOWAS

In 2022, purchases abroad of tyres for buses or lorries decreased by X% to X units, falling for the second year in a row after two years of growth. Over the period under review, imports recorded a slight reduction. The pace of growth was the most pronounced in 2019 when imports increased by X% against the previous year. Over the period under review, imports attained the maximum at X units in 2014; however, from 2015 to 2022, imports failed to regain momentum.

In value terms, truck and bus tyre imports amounted to $X in 2022. Overall, imports recorded a perceptible slump. The pace of growth appeared the most rapid in 2019 when imports increased by X%. The level of import peaked at $X in 2014; however, from 2015 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, Ghana (X units) represented the main importer of tyres for buses or lorries, constituting X% of total imports. It was distantly followed by Nigeria (X units), Cote d'Ivoire (X units), Guinea (X units) and Mali (X units), together creating a X% share of total imports. The following importers - Senegal (X units) and Togo (X units) - together made up X% of total imports.

From 2012 to 2022, the biggest increases were recorded for Togo (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest truck and bus tyre importing markets in ECOWAS were Ghana ($X), Nigeria ($X) and Cote d'Ivoire ($X), with a combined X% share of total imports. Guinea, Senegal, Mali and Togo lagged somewhat behind, together accounting for a further X%.

Togo, with a CAGR of X%, recorded the highest rates of growth with regard to the value of imports, among 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

The import price in ECOWAS stood at $X per unit in 2022, rising by X% against the previous year. In general, the import price, however, showed a noticeable contraction. The pace of growth appeared the most rapid in 2018 when the import price increased by X%. The level of import peaked at $X per unit in 2012; however, from 2013 to 2022, import prices remained at a lower figure.

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 Cote d'Ivoire ($X per unit), while Ghana ($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 a decline in the import price figures.

Source: IndexBox Platform

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