Africa’s booming population creates vast opportunities, including significant demand for automotive parts. With Africa’s vehicle fleet predicted to grow substantially over the next decades, the automotive aftermarket presents vast prospects for international firms.
Over the last couple of years, africon has implemented more than 35 projects in the automotive sector. One of the key questions from our clients is whether there is a market for European vehicle parts. With a recent client, we investigated the European spark plug imports of the top African economies (by GDP). We also examined the total value of the imports per country.
We found that Angola, Egypt, Ethiopia, Ghana, Kenya, Morocco, Nigeria and South Africa are the top importers of vehicle parts in Africa. The countries with significant market shares for European automotive parts are Morocco at 66%, South Africa at 54%, and Egypt at 26%.
africon provided the client with a comprehensive overview of the market and clear recommendations on potential focus markets. We also advised on finding the right partners locally in the selected markets.
What is the potential for you in Africa? If you have any questions, contact us at firstname.lastname@example.org.