Western Africa: Fork-Lift Truck Market 2024

Fork-Lift Truck Market Size in Western Africa

The West African fork-lift truck market declined significantly to $X in 2022, shrinking by X% against the previous year. In general, consumption, however, saw a prominent expansion. As a result, consumption reached the peak level of $X, and then declined significantly in the following year.

Fork-Lift Truck Production in Western Africa

In value terms, fork-lift truck production contracted to $X in 2022 estimated in export price. In general, production showed a abrupt curtailment. The growth pace was the most rapid in 2016 with an increase of X% against the previous year. Over the period under review, production attained the peak level at $X in 2012; however, from 2013 to 2022, production remained at a lower figure.

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Fork-Lift Truck Exports

Exports in Western Africa

In 2022, approx. X units of fork-lift trucks were exported in Western Africa; reducing by X% against 2021 figures. Overall, exports, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 when exports increased by X%. Over the period under review, the exports attained the maximum at X units in 2014; however, from 2015 to 2022, the exports remained at a lower figure.

In value terms, fork-lift truck exports declined rapidly to $X in 2022. Over the period under review, exports continue to indicate a mild descent. The pace of growth was the most pronounced in 2021 with an increase of X% against the previous year. Over the period under review, the exports hit record highs at $X in 2014; however, from 2015 to 2022, the exports remained at a lower figure.

Exports by Country

Liberia prevails in exports structure, resulting at X units, which was near X% of total exports in 2022. It was distantly followed by Burkina Faso (X units), achieving a X% share of total exports. Senegal (X units), Cote d'Ivoire (X units), Ghana (X units) and Gambia (X units) followed a long way behind the leaders.

Liberia was also the fastest-growing in terms of the fork-lift trucks exports, with a CAGR of X% from 2012 to 2022. At the same time, Cote d'Ivoire (X%) and Ghana (X%) displayed positive paces of growth. By contrast, Burkina Faso (X%), Senegal (X%) and Gambia (X%) illustrated a downward trend over the same period. While the share of Liberia (X p.p.) and Cote d'Ivoire (X p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Burkina Faso (X p.p.), Senegal (X p.p.) and Gambia (X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Liberia ($X), Cote d'Ivoire ($X) and Burkina Faso ($X) were the countries with the highest levels of exports in 2022, together comprising X% of total exports.

Liberia, with a CAGR of X%, saw the highest rates of growth with regard to 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

In 2022, the export price in Western Africa amounted to $X per unit, increasing by X% against the previous year. Overall, the export price, however, recorded a pronounced setback. The growth pace was the most rapid in 2017 when the export price increased by X% against the previous year. Over the period under review, the export prices attained the maximum at $X per unit in 2018; however, from 2019 to 2022, the export prices stood at a somewhat lower figure.

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 Cote d'Ivoire ($X per unit), while Liberia ($X per unit) was amongst the lowest.

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

Fork-Lift Truck Imports

Imports in Western Africa

Fork-lift truck imports fell markedly to X units in 2022, reducing by X% on the year before. In general, imports, however, recorded a resilient expansion. The most prominent rate of growth was recorded in 2021 with an increase of X% against the previous year. As a result, imports attained the peak of X units, and then contracted dramatically in the following year.

In value terms, fork-lift truck imports contracted slightly to $X in 2022. Over the period under review, imports, however, enjoyed a strong increase. The most prominent rate of growth was recorded in 2021 with an increase of X%. As a result, imports attained the peak of $X, and then dropped slightly in the following year.

Imports by Country

Nigeria represented the key importer of fork-lift trucks in Western Africa, with the volume of imports recording X units, which was near X% of total imports in 2022. Senegal (X units) held the second position in the ranking, distantly followed by Cote d'Ivoire (X units), Ghana (X units) and Togo (X units). All these countries together held approx. X% share of total imports. Burkina Faso (X units) took a minor share of total imports.

Imports into Nigeria increased at an average annual rate of X% from 2012 to 2022. At the same time, Senegal (X%), Burkina Faso (X%), Togo (X%), Ghana (X%) and Cote d'Ivoire (X%) displayed positive paces of growth. Moreover, Senegal emerged as the fastest-growing importer imported in Western Africa, with a CAGR of X% from 2012-2022. While the share of Senegal (X p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Ghana (X p.p.) and Cote d'Ivoire (X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Nigeria ($X) constitutes the largest market for imported fork-lift trucks in Western Africa, comprising X% of total imports. The second position in the ranking was held by Cote d'Ivoire ($X), with an X% share of total imports. It was followed by Senegal, with a X% share.

In Nigeria, fork-lift truck imports increased at an average annual rate of X% over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: Cote d'Ivoire (X% per year) and Senegal (X% per year).

Import Prices by Country

The import price in Western Africa stood at $X per unit in 2022, growing by X% against the previous year. In general, the import price, however, continues to indicate a abrupt shrinkage. The level of import peaked at $X per unit in 2012; however, from 2013 to 2022, import prices stood at a somewhat 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 ($X per unit), while Senegal ($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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