Western Africa: Internal Combustion Engines Market 2024

Internal Combustion Engines Market Size in Western Africa

In 2022, after two years of growth, there was decline in the West African internal combustion engines market, when its value decreased by X% to $X. In general, consumption, however, saw a noticeable curtailment. Over the period under review, the market hit record highs at $X in 2012; however, from 2013 to 2022, consumption remained at a lower figure.

Internal Combustion Engines Production in Western Africa

In value terms, internal combustion engines production totaled $X in 2022 estimated in export price. Over the period under review, production, however, showed a perceptible downturn. The pace of growth appeared the most rapid in 2017 with an increase of X% against the previous year. Over the period under review, production hit record highs at $X in 2012; however, from 2013 to 2022, production remained at a lower figure.

Internal Combustion Engines Exports

Exports in Western Africa

In 2022, shipments abroad of motor vehicles compression-ignition internal combustion piston engines decreased by X% to X units for the first time since 2019, thus ending a two-year rising trend. Over the period under review, exports, however, posted a buoyant increase. The most prominent rate of growth was recorded in 2018 when exports increased by X% against the previous year. The volume of export peaked at X units in 2021, and then shrank notably in the following year.

In value terms, internal combustion engines exports dropped remarkably to $X in 2022. Overall, exports, however, posted a buoyant increase. The growth pace was the most rapid in 2018 with an increase of X% against the previous year. Over the period under review, the exports hit record highs at $X in 2021, and then shrank rapidly in the following year.

Exports by Country

Nigeria was the key exporter of motor vehicles compression-ignition internal combustion piston engines in Western Africa, with the volume of exports accounting for X units, which was approx. X% of total exports in 2022. Cote d'Ivoire (X units) ranks second in terms of the total exports with a X% share, followed by Burkina Faso (X%) and Ghana (X%). Liberia (X units) and Mali (X units) followed a long way behind the leaders.

Nigeria was also the fastest-growing in terms of the motor vehicles compression-ignition internal combustion piston engines exports, with a CAGR of X% from 2012 to 2022. At the same time, Burkina Faso (X%), Cote d'Ivoire (X%) and Liberia (X%) displayed positive paces of growth. By contrast, Mali (X%) and Ghana (X%) illustrated a downward trend over the same period. Nigeria (X p.p.), Cote d'Ivoire (X p.p.) and Burkina Faso (X p.p.) significantly strengthened its position in terms of the total exports, while Mali and Ghana saw its share reduced by X% and X% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest internal combustion engines supplying countries in Western Africa were Cote d'Ivoire ($X), Ghana ($X) and Nigeria ($X), together comprising X% of total exports. Burkina Faso, Mali and Liberia lagged somewhat behind, together accounting for a further X%.

Among the main exporting countries, Burkina Faso, with a CAGR of X%, recorded the highest growth rate of 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 Western Africa stood at $X per unit in 2022, picking up by X% against the previous year. Overall, the export price, however, saw a pronounced reduction. The most prominent rate of growth was recorded in 2021 when the export price increased by X% against the previous year. Over the period under review, the export prices attained the peak figure at $X per unit in 2017; however, from 2018 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 Ghana ($X per unit), while Nigeria ($X per unit) was amongst the lowest.

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

Internal Combustion Engines Imports

Imports in Western Africa

In 2022, imports of motor vehicles compression-ignition internal combustion piston engines in Western Africa stood at X units, surging by X% on 2021. Overall, imports saw a prominent expansion. The most prominent rate of growth was recorded in 2014 when imports increased by X%. The volume of import peaked in 2022 and is likely to see steady growth in the near future.

In value terms, internal combustion engines imports contracted to $X in 2022. Total imports indicated slight growth 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, imports increased by X% against 2019 indices. The pace of growth appeared the most rapid in 2020 when imports increased by X% against the previous year. Over the period under review, imports hit record highs at $X in 2021, and then dropped in the following year.

Imports by Country

In 2022, Senegal (X units) was the key importer of motor vehicles compression-ignition internal combustion piston engines, committing X% of total imports. It was distantly followed by Ghana (X units), generating a X% share of total imports. The following importers - Guinea (X units), Cote d'Ivoire (X units) and Burkina Faso (X units) - together made up X% of total imports.

From 2012 to 2022, average annual rates of growth with regard to internal combustion engines imports into Senegal stood at X%. At the same time, Ghana (X%), Guinea (X%), Cote d'Ivoire (X%) and Burkina Faso (X%) displayed positive paces of growth. Moreover, Ghana emerged as the fastest-growing importer imported in Western Africa, with a CAGR of X% from 2012-2022. Senegal (X p.p.) and Ghana (X p.p.) significantly strengthened its position in terms of the total imports, while Cote d'Ivoire and Burkina Faso saw its share reduced by X% and X% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Ghana ($X), Senegal ($X) and Guinea ($X) constituted the countries with the highest levels of imports in 2022, together accounting for X% of total imports.

Guinea, 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 Western Africa amounted to $X per unit, with a decrease of X% against the previous year. Over the period under review, the import price saw a deep reduction. The pace of growth was the most pronounced in 2020 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 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 Burkina Faso ($X per unit), while Senegal ($X per unit) was amongst the lowest.

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

Source: IndexBox Platform

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