Western Africa: Market for Fork-Lift Trucks and Other Industrial Works Trucks and Tractors 2024

Market Size for Fork-Lift Trucks and Other Industrial Works Trucks and Tractors in Western Africa

The West African market for fork-lift trucks and other industrial works trucks and tractors fell remarkably to $X in 2019, waning by X% against the previous year. Over the period under review, consumption, however, continues to indicate a drastic downturn. The level of consumption peaked at $X in 2013; however, from 2014 to 2019, consumption remained at a lower figure.

Production of Fork-Lift Trucks and Other Industrial Works Trucks and Tractors in Western Africa

In value terms, production of fork-lift trucks and other industrial works trucks and tractors reduced to $X in 2019 estimated in export price. In general, production, however, saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2013 with an increase of X% against the previous year. As a result, production reached the peak level of $X. From 2014 to 2019, production of growth remained at a lower figure.

Exports of Fork-Lift Trucks and Other Industrial Works Trucks and Tractors

Exports in Western Africa

In 2023, exports of fork-lift trucks and other industrial works trucks and tractors in Western Africa soared to X units, picking up by X% against 2022 figures. Over the period under review, exports saw a prominent expansion. The most prominent rate of growth was recorded in 2017 when exports increased by X% against the previous year. As a result, the exports reached the peak of X units. From 2018 to 2023, the growth of the exports of failed to regain momentum.

In value terms, exports of fork-lift trucks and other industrial works trucks and tractors skyrocketed to $X in 2023. Overall, exports enjoyed a resilient increase. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

Gambia was the main exporter of fork-lift trucks and other industrial works trucks and tractors in Western Africa, with the volume of exports finishing at X units, which was near X% of total exports in 2023. Cote d'Ivoire (X units) took a X% share (based on physical terms) of total exports, which put it in second place, followed by Burkina Faso (X%) and Ghana (X%). The following exporters - Mali (X units), Sierra Leone (X units) and Senegal (X units) - together made up X% of total exports.

Gambia was also the fastest-growing in terms of the fork-lift trucks and other industrial works trucks and tractors exports, with a CAGR of X% from 2012 to 2023. At the same time, Ghana (X%), Burkina Faso (X%), Sierra Leone (X%) and Cote d'Ivoire (X%) displayed positive paces of growth. By contrast, Senegal (X%) and Mali (X%) illustrated a downward trend over the same period. From 2012 to 2023, the share of Gambia increased by X percentage points. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Gambia ($X) emerged as the largest forklift truck and industrial works truck supplier in Western Africa, comprising X% of total exports. The second position in the ranking was taken by Ghana ($X), with an X% share of total exports. It was followed by Burkina Faso, with a X% share.

In Gambia, exports of fork-lift trucks and other industrial works trucks and tractors increased at an average annual rate of X% over the period from 2012-2023. In the other countries, the average annual rates were as follows: Ghana (X% per year) and Burkina Faso (X% per year).

Export Prices by Country

In 2023, the export price in Western Africa amounted to $X per unit, jumping by X% against the previous year. In general, the export price recorded a buoyant increase. The pace of growth was the most pronounced in 2018 when the export price increased by X%. Over the period under review, the export prices reached the peak figure in 2023 and is likely to continue growth in the near future.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Ghana ($X per unit), while Mali ($X per unit) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Gambia (X%), while the other leaders experienced more modest paces of growth.

Imports of Fork-Lift Trucks and Other Industrial Works Trucks and Tractors

Imports in Western Africa

In 2023, approx. X units of fork-lift trucks and other industrial works trucks and tractors were imported in Western Africa; picking up by X% against 2022 figures. In general, imports enjoyed a significant increase. The most prominent rate of growth was recorded in 2021 with an increase of X%. As a result, imports reached the peak of X units. From 2022 to 2023, the growth of imports of remained at a lower figure.

In value terms, imports of fork-lift trucks and other industrial works trucks and tractors fell notably to $X in 2023. Over the period under review, imports continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when imports increased by X% against the previous year. As a result, imports reached the peak of $X. From 2022 to 2023, the growth of imports of failed to regain momentum.

Imports by Country

Gambia was the key importing country with an import of around X units, which recorded X% of total imports. Nigeria (X units) held a X% share (based on physical terms) of total imports, which put it in second place, followed by Cote d'Ivoire (X%). Senegal (X units), Ghana (X units) and Mauritania (X units) followed a long way behind the leaders.

Gambia was also the fastest-growing in terms of the fork-lift trucks and other industrial works trucks and tractors imports, with a CAGR of X% from 2012 to 2023. At the same time, Senegal (X%), Mauritania (X%), Cote d'Ivoire (X%), Nigeria (X%) and Ghana (X%) displayed positive paces of growth. Gambia (X p.p.) significantly strengthened its position in terms of the total imports, while Cote d'Ivoire, Ghana and Nigeria saw its share reduced by X%, X% and X% from 2012 to 2023, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

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

In Nigeria, imports of fork-lift trucks and other industrial works trucks and tractors increased at an average annual rate of X% over the period from 2012-2023. The remaining importing countries recorded the following average annual rates of imports growth: Cote d'Ivoire (X% per year) and Ghana (X% per year).

Import Prices by Country

In 2023, the import price in Western Africa amounted to $X per unit, declining by X% against the previous year. Overall, the import price continues to indicate a deep downturn. The pace of growth was the most pronounced in 2022 when the import price increased by X% against the previous year. The level of import peaked at $X per unit in 2013; however, from 2014 to 2023, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Cote d'Ivoire ($X per unit), while Gambia ($X per unit) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Nigeria (X%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform