Western Africa: Market for Glass Rear-View Mirrors For Vehicles 2024

Market Size for Glass Rear-View Mirrors For Vehicles in Western Africa

The West African glass rear-view vehicle mirror market dropped slightly to $X in 2023, reducing by X% against the previous year. In general, consumption, however, showed a resilient expansion. Over the period under review, the market reached the peak level at $X in 2019; however, from 2020 to 2023, consumption remained at a lower figure.

Production of Glass Rear-View Mirrors For Vehicles in Western Africa

In value terms, glass rear-view vehicle mirror production dropped slightly to $X in 2023 estimated in export price. In general, production, however, continues to indicate a buoyant expansion. The most prominent rate of growth was recorded in 2018 with an increase of X%. The level of production peaked at $X in 2019; however, from 2020 to 2023, production failed to regain momentum.

Exports of Glass Rear-View Mirrors For Vehicles

Exports in Western Africa

In 2023, after four years of growth, there was significant decline in overseas shipments of glass rear-view mirrors for vehicles, when their volume decreased by X% to X units. Over the period under review, exports, however, posted a significant increase. The pace of growth was the most pronounced in 2015 with an increase of X%. Over the period under review, the exports attained the peak figure at X units in 2022, and then declined rapidly in the following year.

In value terms, glass rear-view vehicle mirror exports reduced remarkably to $X in 2023. Overall, exports, however, saw a measured increase. The pace of growth appeared the most rapid in 2015 when exports increased by X%. Over the period under review, the exports reached the peak figure at $X in 2022, and then contracted sharply in the following year.

Exports by Country

The shipments of the one major exporters of glass rear-view mirrors for vehicles, namely Nigeria, represented more than two-thirds of total export.

Nigeria was also the fastest-growing in terms of the glass rear-view mirrors for vehicles exports, with a CAGR of X% from 2012 to 2023. From 2012 to 2023, the share of Nigeria increased by X percentage points, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Nigeria ($X) also remains the largest glass rear-view vehicle mirror supplier in Western Africa.

From 2012 to 2023, the average annual rate of growth in terms of value in Nigeria amounted to X%.

Export Prices by Country

In 2023, the export price in Western Africa amounted to $X per unit, declining by X% against the previous year. Over the period under review, the export price recorded a abrupt descent. The most prominent rate of growth was recorded in 2017 an increase of X% against the previous year. Over the period under review, the export prices reached the peak figure at $X per unit in 2014; however, from 2015 to 2023, the export prices stood at a somewhat lower figure.

As there is only one major export destination, the average price level is determined by prices for Nigeria.

From 2012 to 2023, the rate of growth in terms of prices for Nigeria amounted to X% per year.

Imports of Glass Rear-View Mirrors For Vehicles

Imports in Western Africa

In 2023, purchases abroad of glass rear-view mirrors for vehicles decreased by X% to X units for the first time since 2020, thus ending a two-year rising trend. Over the period under review, imports, however, posted tangible growth. The growth pace was the most rapid in 2021 with an increase of X% against the previous year. Over the period under review, imports reached the peak figure at X units in 2013; however, from 2014 to 2023, imports remained at a lower figure.

In value terms, glass rear-view vehicle mirror imports declined to $X in 2023. Overall, imports, however, recorded a measured increase. The pace of growth appeared the most rapid in 2021 with an increase of X% against the previous year. Over the period under review, imports attained the peak figure at $X in 2015; however, from 2016 to 2023, imports remained at a lower figure.

Imports by Country

In 2023, Ghana (X units), distantly followed by Burkina Faso (X units), Benin (X units), Cote d'Ivoire (X units) and Senegal (X units) represented the key importers of glass rear-view mirrors for vehicles, together generating X% of total imports. Guinea (X units) followed a long way behind the leaders.

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

In value terms, the largest glass rear-view vehicle mirror importing markets in Western Africa were Cote d'Ivoire ($X), Senegal ($X) and Ghana ($X), together accounting for X% of total imports. Benin, Guinea and Burkina Faso lagged somewhat behind, together accounting for a further X%.

Benin, with a CAGR of X%, saw the highest rates of growth with regard to the value of imports, among 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 2023, with a decrease of X% against the previous year. In general, the import price showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2020 when the import price increased by X% against the previous year. The level of import peaked at $X per unit in 2015; however, from 2016 to 2023, import prices failed to regain momentum.

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

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

Source: IndexBox Platform