From 2012 to 2022, the Motor Vehicles Shock Absorbers Market in Ghana experienced an overall growth, despite fluctuations. Starting at $14.533 million in 2012, the market saw a steady increase, peaking at $19.822 million in 2022. Notable growth spurts included 2017's 17.59% rise and a strong recovery in 2021 with a 17.51% increase. However, 2020 witnessed a significant dip of -14.68%, likely due to global disruptions. The 5-year CAGR for the period ending in 2022 averaged at approximately 2.63%.
Future trends to watch for include:
- Technological advancements in shock absorber materials and designs.
- Increasing vehicle production and import regulations in Ghana.
- Economic factors and consumer spending power shifts.
How does Ghana rank in Motor Vehicles Shock Absorbers Market Size Value?
| # | 48 Countries | US Dollars | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 China | 14,221,000,000 | 2023 | +5.37% | +4.39% | View data |
| 2 | 2 Japan | 4,538,300,000 | 2023 | -1.11% | -2.2% | View data |
| 3 | 3 United Kingdom | 3,549,200,000 | 2023 | +0.56% | -0.4% | View data |
| 4 | 4 France | 2,534,200,000 | 2023 | +1.13% | +0.88% | View data |
| 5 | 5 Brazil | 2,378,100,000 | 2023 | -0.94% | -1.47% | View data |
| 34 | 34 Bosnia and Herzegovina | 21,428,000 | 2023 | +2.03% | +2.69% | View data |
| 35 | 35 Sri Lanka | 21,143,000 | 2023 | -1.89% | -1.83% | View data |
| 36 | 36 Ghana | 20,304,000 | 2023 | +2.43% | +2.4% | |
| 37 | 37 Botswana | 12,855,000 | 2023 | -0.13% | -0.34% | View data |
| 38 | 38 Zambia | 12,158,000 | 2023 | +1.78% | +1.68% | View data |
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