Western Africa: Brakes And Servo-Brakes Market 2024

Brakes And Servo-Brakes Market Size in Western Africa

The West African brakes and servo-brakes market surged to $X in 2022, jumping by X% against the previous year. Overall, consumption continues to indicate a significant increase. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Brakes And Servo-Brakes Production in Western Africa

In value terms, brakes and servo-brakes production stood at $X in 2022 estimated in export price. In general, production, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 when the production volume increased by X%. The level of production peaked at $X in 2020; however, from 2021 to 2022, production stood at a somewhat lower figure.

Brakes And Servo-Brakes Exports

Exports in Western Africa

In 2022, overseas shipments of brakes and servo-brakes decreased by X% to X tons for the first time since 2019, thus ending a two-year rising trend. Overall, exports, however, recorded a buoyant expansion. The pace of growth appeared the most rapid in 2017 with an increase of X%. As a result, the exports reached the peak of X tons. From 2018 to 2022, the growth of the exports remained at a lower figure.

In value terms, brakes and servo-brakes exports fell to $X in 2022. Over the period under review, exports, however, recorded a strong expansion. The pace of growth appeared the most rapid in 2014 when exports increased by X% against the previous year. As a result, the exports reached the peak of $X. From 2015 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

Ghana was the major exporting country with an export of around X tons, which resulted at X% of total exports. It was distantly followed by Sierra Leone (X tons), Senegal (X tons) and Cote d'Ivoire (X tons), together committing a X% share of total exports. The following exporters - Mali (X tons) and Benin (X tons) - together made up X% of total exports.

Ghana was also the fastest-growing in terms of the brakes and servo-brakes exports, with a CAGR of X% from 2012 to 2022. At the same time, Cote d'Ivoire (X%), Sierra Leone (X%) and Mali (X%) displayed positive paces of growth. By contrast, Senegal (X%) and Benin (X%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Ghana, Sierra Leone, Cote d'Ivoire, Benin and Mali increased by X, X, X, X and X percentage points, respectively.

In value terms, the largest brakes and servo-brakes supplying countries in Western Africa were Ghana ($X), Sierra Leone ($X) and Cote d'Ivoire ($X), together comprising X% of total exports.

Cote d'Ivoire, with a CAGR of X%, saw the highest growth rate of the value of exports, among 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

The export price in Western Africa stood at $X per ton in 2022, jumping by X% against the previous year. Overall, the export price, however, recorded a perceptible downturn. The pace of growth appeared the most rapid in 2018 an increase of X% against the previous year. Over the period under review, the export prices hit record highs at $X per ton in 2016; however, from 2017 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Mali ($X per ton), while Benin ($X per ton) was amongst the lowest.

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

Brakes And Servo-Brakes Imports

Imports in Western Africa

Brakes and servo-brakes imports rose notably to X tons in 2022, with an increase of X% compared with the previous year. Overall, imports, however, showed a mild downturn. The most prominent rate of growth was recorded in 2013 when imports increased by X%. As a result, imports attained the peak of X tons. From 2014 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, brakes and servo-brakes imports fell slightly to $X in 2022. In general, imports enjoyed perceptible growth. The pace of growth was the most pronounced in 2013 when imports increased by X%. As a result, imports reached the peak of $X. From 2014 to 2022, the growth of imports remained at a somewhat lower figure.

Imports by Country

In 2022, Ghana (X tons) was the main importer of brakes and servo-brakes, comprising X% of total imports. Cote d'Ivoire (X tons) took the second position in the ranking, followed by Guinea (X tons), Nigeria (X tons) and Senegal (X tons). All these countries together held near X% share of total imports. Mali (X tons) and Burkina Faso (X tons) followed a long way behind the leaders.

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

In value terms, Ghana ($X), Cote d'Ivoire ($X) and Guinea ($X) constituted the countries with the highest levels of imports in 2022, with a combined X% share of total imports. Burkina Faso, Nigeria, Senegal and Mali lagged somewhat behind, together comprising a further X%.

Among the main importing countries, Burkina Faso, with a CAGR of X%, saw 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

The import price in Western Africa stood at $X per ton in 2022, declining by X% against the previous year. Import price indicated a noticeable increase from 2012 to 2022: its price 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, brakes and servo-brakes import price increased by X% against 2020 indices. The pace of growth was the most pronounced in 2014 when the import price increased by X%. Over the period under review, import prices attained the peak figure at $X per ton in 2016; however, from 2017 to 2022, import prices failed to regain momentum.

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 Burkina Faso ($X per ton), while Nigeria ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform