Western Africa: Safety Seat Belt Market 2024

Safety Seat Belt Market Size in Western Africa

The West African safety seat belt market surged to $X in 2023, rising by X% against the previous year. In general, consumption, however, continues to indicate a deep downturn. Over the period under review, the market hit record highs at $X in 2012; however, from 2013 to 2023, consumption stood at a somewhat lower figure.

Safety Seat Belt Production in Western Africa

In value terms, safety seat belt production contracted to $X in 2023 estimated in export price. Overall, production recorded a abrupt shrinkage. The growth pace was the most rapid in 2019 when the production volume increased by X%. The level of production peaked at $X in 2012; however, from 2013 to 2023, production stood at a somewhat lower figure.

Safety Seat Belt Exports

Exports in Western Africa

Safety seat belt exports declined significantly to X units in 2023, falling by X% on 2022. Over the period under review, exports continue to indicate a perceptible contraction. The pace of growth was the most pronounced in 2016 with an increase of X% against the previous year. The volume of export peaked at X units in 2020; however, from 2021 to 2023, the exports remained at a lower figure.

In value terms, safety seat belt exports dropped to $X in 2023. Overall, exports showed a abrupt decrease. The pace of growth was the most pronounced in 2020 with an increase of X%. As a result, the exports reached the peak of $X. From 2021 to 2023, the growth of the exports remained at a somewhat lower figure.

Exports by Country

In 2023, Nigeria (X units) was the main exporter of safety seat belts, comprising X% of total exports. Gambia (X units) took a X% share (based on physical terms) of total exports, which put it in second place, followed by Cote d'Ivoire (X%) and Senegal (X%). Ghana (X units) took a minor share of total exports.

Exports from Nigeria increased at an average annual rate of X% from 2012 to 2023. At the same time, Gambia (X%) and Ghana (X%) displayed positive paces of growth. Moreover, Gambia emerged as the fastest-growing exporter exported in Western Africa, with a CAGR of X% from 2012-2023. By contrast, Cote d'Ivoire (X%) and Senegal (X%) illustrated a downward trend over the same period. While the share of Nigeria (X p.p.), Gambia (X p.p.), Cote d'Ivoire (X p.p.) and Ghana (X p.p.) increased significantly in terms of the total exports from 2012-2023, the share of Senegal (X p.p.) displayed negative dynamics.

In value terms, the largest safety seat belt supplying countries in Western Africa were Gambia ($X), Cote d'Ivoire ($X) and Senegal ($X), together accounting for X% of total exports.

Gambia, with a CAGR of X%, saw the highest rates of growth with regard to the value of exports, in terms of 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 2023, the export price in Western Africa amounted to $X per unit, with an increase of X% against the previous year. Over the period under review, the export price, however, saw a noticeable decrease. Over the period under review, the export prices reached the maximum at $X per unit in 2013; however, from 2014 to 2023, the export prices failed to regain momentum.

There were significant differences in the average prices amongst the major exporting countries. In 2023, 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 2023, the most notable rate of growth in terms of prices was attained by Cote d'Ivoire (X%), while the other leaders experienced more modest paces of growth.

Safety Seat Belt Imports

Imports in Western Africa

Safety seat belt imports skyrocketed to X units in 2023, with an increase of X% on 2022 figures. Over the period under review, imports, however, saw a deep slump. The most prominent rate of growth was recorded in 2014 when imports increased by X% against the previous year. Over the period under review, imports hit record highs at X units in 2012; however, from 2013 to 2023, imports failed to regain momentum.

In value terms, safety seat belt imports soared to $X in 2023. In general, imports, however, continue to indicate a mild decline. The pace of growth appeared the most rapid in 2014 when imports increased by X%. As a result, imports reached the peak of $X. From 2015 to 2023, the growth of imports remained at a somewhat lower figure.

Imports by Country

Senegal (X units) and Ghana (X units) were the major importers of safety seat belts in 2023, recording approx. X% and X% of total imports, respectively. Cote d'Ivoire (X units) held an X% share (based on physical terms) of total imports, which put it in second place, followed by Guinea (X%) and Togo (X%). The following importers - Burkina Faso (X units) and Benin (X units) - together made up X% of total imports.

From 2012 to 2023, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by Senegal (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest safety seat belt importing markets in Western Africa were Ghana ($X), Senegal ($X) and Cote d'Ivoire ($X), together accounting for X% of total imports.

In terms of the main importing countries, Senegal, with a CAGR of X%, recorded the highest growth rate of 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

In 2023, the import price in Western Africa amounted to $X per unit, which is down by X% against the previous year. Over the period under review, the import price, however, recorded strong growth. The most prominent rate of growth was recorded in 2013 an increase of X%. The level of import peaked at $X per unit in 2017; however, from 2018 to 2023, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2023, 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 2023, the most notable rate of growth in terms of prices was attained by Togo (X%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform