Africa: Market for Steering Wheels, Steering Columns And Steering Boxes 2024

Market Size for Steering Wheels, Steering Columns And Steering Boxes in Africa

The African steering wheels and columns market amounted to $X in 2022, approximately mirroring the previous year. The market value increased at an average annual rate of +2.0% over the period from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the market attained the peak level in 2022 and is likely to see gradual growth in the near future.

Production of Steering Wheels, Steering Columns And Steering Boxes in Africa

In value terms, steering wheels and columns production dropped to $X in 2022 estimated in export price. Over the period under review, production showed a perceptible contraction. The most prominent rate of growth was recorded in 2014 when the production volume increased by 20% against the previous year. The level of production peaked at $X in 2016; however, from 2017 to 2022, production failed to regain momentum.

Exports of Steering Wheels, Steering Columns And Steering Boxes

Exports in Africa

Steering wheels and columns exports surged to X tons in 2022, growing by 23% against the year before. Total exports indicated a measured increase from 2012 to 2022: its volume increased at an average annual rate of +3.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +43.5% against 2016 indices. The growth pace was the most rapid in 2016 with an increase of 37%. Over the period under review, the exports hit record highs in 2022 and are likely to see gradual growth in the immediate term.

In value terms, steering wheels and columns exports skyrocketed to $X in 2022. In general, exports continue to indicate strong growth. The most prominent rate of growth was recorded in 2016 when exports increased by 43%. The level of export peaked in 2022 and is likely to see gradual growth in years to come.

Exports by Country

Morocco (X tons) and Tunisia (X tons) dominates exports structure, together constituting 90% of total exports. It was distantly followed by South Africa (X tons), making up a 9.9% share of total exports.

From 2012 to 2022, the biggest increases were recorded for Morocco (with a CAGR of +10.0%), while shipments for the other leaders experienced mixed trends in the exports figures.

In value terms, the largest steering wheels and columns supplying countries in Africa were Tunisia ($X), Morocco ($X) and South Africa ($X), with a combined 100% share of total exports.

In terms of the main exporting countries, Tunisia, with a CAGR of +14.6%, 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 mixed trends in the exports figures.

Export Prices by Country

In 2022, the export price in Africa amounted to $X per ton, remaining constant against the previous year. Export price indicated a buoyant increase from 2012 to 2022: its price increased at an average annual rate of +6.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, steering wheels and columns export price decreased by -16.8% against 2020 indices. The pace of growth appeared the most rapid in 2014 when the export price increased by 37% against the previous year. The level of export peaked at $X per ton in 2020; however, from 2021 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Tunisia ($X per ton), while South Africa ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Tunisia (+16.7%), while the other leaders experienced a decline in the export price figures.

Imports of Steering Wheels, Steering Columns And Steering Boxes

Imports in Africa

For the sixth year in a row, Africa recorded growth in supplies from abroad of steering wheels, steering columns and steering boxes, which increased by 11% to X tons in 2022. Over the period under review, imports saw resilient growth. The most prominent rate of growth was recorded in 2017 with an increase of 56%. Over the period under review, imports hit record highs in 2022 and are expected to retain growth in the near future.

In value terms, steering wheels and columns imports rose sharply to $X in 2022. Overall, imports recorded a prominent expansion. The growth pace was the most rapid in 2021 when imports increased by 44%. Over the period under review, imports hit record highs in 2022 and are likely to see gradual growth in years to come.

Imports by Country

Morocco was the key importer of steering wheels, steering columns and steering boxes in Africa, with the volume of imports accounting for X tons, which was approx. 60% of total imports in 2022. South Africa (X tons) ranks second in terms of the total imports with a 15% share, followed by Tunisia (12%). Algeria (X tons) followed a long way behind the leaders.

Morocco was also the fastest-growing in terms of the steering wheels, steering columns and steering boxes imports, with a CAGR of +38.9% from 2012 to 2022. At the same time, Tunisia (+6.7%), South Africa (+6.4%) and Algeria (+2.7%) displayed positive paces of growth. Morocco (+52 p.p.) significantly strengthened its position in terms of the total imports, while Algeria, Tunisia and South Africa saw its share reduced by -6.8%, -10.8% and -15.1% from 2012 to 2022, respectively.

In value terms, Morocco ($X) constitutes the largest market for imported steering wheels, steering columns and steering boxes in Africa, comprising 59% of total imports. The second position in the ranking was taken by South Africa ($X), with a 17% share of total imports. It was followed by Tunisia, with a 14% share.

From 2012 to 2022, the average annual rate of growth in terms of value in Morocco totaled +33.8%. In the other countries, the average annual rates were as follows: South Africa (+4.8% per year) and Tunisia (+12.4% per year).

Import Prices by Country

The import price in Africa stood at $X per ton in 2022, declining by -2.9% against the previous year. In general, the import price, however, saw a relatively flat trend pattern. The growth pace was the most rapid in 2019 when the import price increased by 15% against the previous year. Over the period under review, import prices hit record highs at $X per ton in 2021, and then fell slightly in the following year.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Tunisia ($X per ton), while Algeria ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Tunisia (+5.3%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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