ECOWAS: Automotive Lighting Market 2024

Automotive Lighting Market Size in ECOWAS

The ECOWAS automotive lighting market rose sharply to $X in 2022, increasing by X% against the previous year. Overall, consumption continues to indicate a prominent expansion. The level of consumption peaked at $X in 2020; however, from 2021 to 2022, consumption failed to regain momentum.

Automotive Lighting Production in ECOWAS

In value terms, automotive lighting production rose remarkably to $X in 2022 estimated in export price. Over the period under review, production saw resilient growth. The most prominent rate of growth was recorded in 2019 with an increase of X%. Over the period under review, production reached the peak level at $X in 2020; however, from 2021 to 2022, production failed to regain momentum.

Automotive Lighting Exports

Exports in ECOWAS

In 2022, after two years of growth, there was significant decline in overseas shipments of automotive lighting, when their volume decreased by X% to X units. Overall, exports, however, showed a resilient increase. The pace of growth was the most pronounced in 2020 when exports increased by X%. Over the period under review, the exports attained the maximum at X units in 2021, and then fell dramatically in the following year.

In value terms, automotive lighting exports dropped rapidly to $X in 2022. In general, exports, however, enjoyed resilient growth. The most prominent rate of growth was recorded in 2021 when exports increased by X% against the previous year. As a result, the exports attained the peak of $X, and then reduced notably in the following year.

Exports by Country

Ghana prevails in exports structure, accounting for X units, which was near X% of total exports in 2022. Cote d'Ivoire (X units), Senegal (X units), Sierra Leone (X units) and Benin (X units) held a relatively small share of total exports.

Ghana was also the fastest-growing in terms of the automotive lighting exports, with a CAGR of X% from 2012 to 2022. At the same time, Senegal (X%) displayed positive paces of growth. By contrast, Cote d'Ivoire (X%), Sierra Leone (X%) and Benin (X%) illustrated a downward trend over the same period. While the share of Ghana (X p.p.) and Benin (X p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Sierra Leone (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, the largest automotive lighting supplying countries in ECOWAS were Ghana ($X), Sierra Leone ($X) and Cote d'Ivoire ($X), together comprising X% of total exports.

Among the main exporting countries, Ghana, with a CAGR of X%, saw the highest rates of growth with regard to 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

In 2022, the export price in ECOWAS amounted to $X per unit, waning by X% against the previous year. In general, the export price, however, posted a mild increase. The growth pace was the most rapid in 2019 an increase of X%. As a result, the export price reached the peak level of $X per unit. From 2020 to 2022, the export prices remained at a somewhat lower figure.

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

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

Automotive Lighting Imports

Imports in ECOWAS

After two years of growth, supplies from abroad of automotive lighting decreased by X% to X units in 2022. Overall, imports, however, showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2015 when imports increased by X% against the previous year. The volume of import peaked at X units in 2021, and then reduced in the following year.

In value terms, automotive lighting imports declined to $X in 2022. Over the period under review, imports continue to indicate a pronounced contraction. The growth pace was the most rapid in 2017 with an increase of X% against the previous year. As a result, imports attained the peak of $X. From 2018 to 2022, the growth of imports remained at a lower figure.

Imports by Country

In 2022, Ghana (X units) represented the major importer of automotive lighting, committing X% of total imports. 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%). The following importers - Mali (X units) and Sierra Leone (X units) - each accounted for a X% share of total imports.

Ghana experienced a relatively flat trend pattern with regard to volume of imports of automotive lighting. At the same time, Mali (X%), Sierra Leone (X%) and Cote d'Ivoire (X%) displayed positive paces of growth. Moreover, Mali emerged as the fastest-growing importer imported in ECOWAS, with a CAGR of X% from 2012-2022. By contrast, Guinea (X%) illustrated a downward trend over the same period. Cote d'Ivoire (X p.p.) and Mali (X p.p.) significantly strengthened its position in terms of the total imports, while Guinea saw its share reduced by X% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Ghana ($X) constitutes the largest market for imported automotive lighting in ECOWAS, comprising X% of total imports. The second position in the ranking was taken by Cote d'Ivoire ($X), with a X% share of total imports. It was followed by Guinea, with an X% share.

From 2012 to 2022, the average annual rate of growth in terms of value in Ghana amounted to X%. In the other countries, the average annual rates were as follows: Cote d'Ivoire (X% per year) and Guinea (X% per year).

Import Prices by Country

The import price in ECOWAS stood at $X per unit in 2022, surging by X% against the previous year. In general, the import price, however, saw a deep setback. The pace of growth appeared the most rapid in 2017 an increase of X%. The level of import peaked at $X per unit in 2014; however, from 2015 to 2022, import prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Mali ($X per unit), while Sierra Leone ($X per unit) was amongst the lowest.

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

Source: IndexBox Platform

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