Western Africa: Market for Lead-Acid Accumulators (Excluding Starter Batteries) 2024

Market Size for Lead-Acid Accumulators (Excluding Starter Batteries) in Western Africa

In 2022, the West African market for lead-acid accumulators (excluding starter batteries) decreased by X% to $X, falling for the third year in a row after two years of growth. Overall, consumption, however, recorded buoyant growth. As a result, consumption attained the peak level of $X. From 2020 to 2022, the growth of the market remained at a lower figure.

Production of Lead-Acid Accumulators (Excluding Starter Batteries) in Western Africa

In value terms, lead-acid accumulators (excluding starter batteries) production expanded markedly to $X in 2022 estimated in export price. Overall, production saw a prominent expansion. The most prominent rate of growth was recorded in 2019 with an increase of X%. The level of production peaked at $X in 2020; however, from 2021 to 2022, production failed to regain momentum.

Exports of Lead-Acid Accumulators (Excluding Starter Batteries)

Exports in Western Africa

In 2022, approx. X units of lead-acid accumulators (excluding starter batteries) were exported in Western Africa; rising by X% against the previous year. In general, exports recorded significant growth. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, lead-acid accumulators (excluding starter batteries) exports surged to $X in 2022. Over the period under review, exports saw strong growth. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

Nigeria prevails in exports structure, reaching X units, which was approx. X% of total exports in 2022. Ghana (X units) followed a long way behind the leaders.

Nigeria was also the fastest-growing in terms of the lead-acid accumulators (excluding starter batteries) exports, with a CAGR of X% from 2012 to 2022. At the same time, Ghana (X%) displayed positive paces of growth. While the share of Nigeria (X p.p.) increased significantly, the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Nigeria ($X) emerged as the largest lead-acid accumulators (excluding starter batteries) supplier in Western Africa, comprising X% of total exports. The second position in the ranking was held by Ghana ($X), with a X% share of total exports.

From 2012 to 2022, the average annual growth rate of value in Nigeria totaled X%.

Export Prices by Country

In 2022, the export price in Western Africa amounted to $X per unit, shrinking by X% against the previous year. In general, the export price faced a abrupt decline. The pace of growth was the most pronounced in 2017 when the export price increased by X%. Over the period under review, the export prices hit record highs at $X per unit in 2012; however, from 2013 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 Nigeria ($X per unit), while Ghana stood at $X per unit.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Nigeria (X%).

Imports of Lead-Acid Accumulators (Excluding Starter Batteries)

Imports in Western Africa

In 2022, purchases abroad of lead-acid accumulators (excluding starter batteries) decreased by X% to X units, falling for the third year in a row after two years of growth. Overall, imports, however, recorded a resilient increase. The pace of growth appeared the most rapid in 2019 with an increase of X%. As a result, imports attained the peak of X units. From 2020 to 2022, the growth of imports failed to regain momentum.

In value terms, lead-acid accumulators (excluding starter batteries) imports shrank to $X in 2022. In general, imports, however, saw a notable expansion. The most prominent rate of growth was recorded in 2019 when imports increased by X%. As a result, imports attained the peak of $X. From 2020 to 2022, the growth of imports remained at a somewhat lower figure.

Imports by Country

Ghana represented the main importing country with an import of around X units, which amounted to X% of total imports. Nigeria (X units) ranks second in terms of the total imports with a X% share, followed by Mali (X%) and Guinea (X%). Cote d'Ivoire (X units), Togo (X units) and Sierra Leone (X units) took a relatively small share of total imports.

Imports into Ghana increased at an average annual rate of X% from 2012 to 2022. At the same time, Togo (X%), Guinea (X%), Sierra Leone (X%), Mali (X%), Cote d'Ivoire (X%) and Nigeria (X%) displayed positive paces of growth. Moreover, Togo emerged as the fastest-growing importer imported in Western Africa, with a CAGR of X% from 2012-2022. From 2012 to 2022, the share of Ghana, Guinea and Togo increased by X, X and X percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Nigeria ($X), Ghana ($X) and Guinea ($X) constituted the countries with the highest levels of imports in 2022, together accounting for X% of total imports. Mali, Cote d'Ivoire, Togo and Sierra Leone lagged somewhat behind, together comprising a further X%.

Togo, with a CAGR of X%, recorded the highest rates of growth with regard to 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

The import price in Western Africa stood at $X per unit in 2022, increasing by X% against the previous year. Over the period under review, the import price, however, recorded a deep reduction. The most prominent rate of growth was recorded in 2015 when the import price increased by X%. Over the period under review, import prices reached the maximum at $X per unit in 2018; however, from 2019 to 2022, import prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Nigeria ($X per unit), while Ghana ($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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