The market is expected to grow from the current market size of USD XX billion to USD XX billion by the year 2022, growing at a CAGR of XX%.
Ghana’s manufacturing industry gets good support from the local government, which has enabled it to become tone of the 40 fastest growing industrial productions in the world. Industry currently accounts for a quarter of the GDP but by 2021, it is expected to account for at least 30% of the GDP, and the main driver for the growth will be the automobile industry.
The automobile sector of Ghana has been a driver of growth of the country as it is one of the most visible sectors to receive foreign investment. Indian automobiles major Mahindra and Mahindra has invested heavily in the country and has made it as a regional hub for the manufacture of its Sports Utility Vehicles.
Ghana is a multicultural and ethnically diverse West African nation and is the 9th largest African economy. It was one of the first African nations to declare independence from the colonial rule and features one of the freest social and cultural societies on the African continent. On the Ibrahim Index of African Governance, Ghana ranks as the 7th best economy in Africa, which implies a relative safety of foreign investment in the region. Also, Ghana ranks relatively high in the ease of doing business index and also has an extremely high freedom of press rating, which makes it a good emerging market to invest in.
One of the major problems with Ghana that has been impeding the growth of the automobile sector is the lack of financial inclusion in the country. Most people do not have access to financial loans and other options like lease that make owning an automobile easy. To address this concern, the Mahindra group has tied up with the Fidelity Bank Ghana to provide financial assistance to consumers looking to buy its vehicles. Such initiatives are a must if widespread ownership of automobiles is to be achieved. Currently, most of the consumers belong to the affluent class; hence the automobile industry in Ghana presents massive opportunities for the future as the burgeoning middle class is largely untapped in the country.
Several bottlenecks like the presence of a large grey market and poor road conditions exist but the automobile industry is likely to address these issues as time goes by and become a powerhouse of the Western Africa region in the future.
Some of the key players in Ghana’s automobile industry are:
- Mahindra & Mahindra
What the Report Offers
- Market analysis for Ghana’s Automobile Industry, with region-specific assessments and competition analysis on the global and regional scale.
- Market definition along with the identification of key drivers and restraints.
- Identification of factors instrumental in changing the market scenario, rising prospective opportunities, and identification of key companies that can influence this market on a global and regional scale.
- Extensively researched competitive landscape section with profiles of major companies along with their market share.
- Identification and analysis of the macro and micro factors that affect Ghana’s Automobile Industry on both global and regional scale.
- A comprehensive list of key market players along with the analysis of their current strategic interests and key financial information.
- A wide-ranging knowledge and insights about the major players in this industry and the key strategies adopted by them to sustain and grow in the studied market.
- Insights on the major countries in which this industry is blooming and to also identify the regions that are still untapped.a
1. Research Methodology
2. Key Findings of the Study
3. Executive Summary
4. Market Overview
4.1 Market Overview
4.2 Industry Value Chain Analysis
4.3 Industry Attractiveness – Porter’s 5 Force Analysis
4.4 Industry Policies
5. Market Dynamics
5.2.1 Rising Middle Class
5.2.2 Foreign Investment in the Sector
5.2.3 Rising domestic participation
5.3.1 Presence of a large grey market
5.3.2 High rates of interest
5.3.3 Poor Road Condition
5.4.1 Kantaka Group of Companies emerging as a major player in SUV Production
6. Ghana Automobiles Market
6.1 Technology Overview
6.2 Segmentation By Type
6.2.1 Passenger Cars
6.2.3 Sports Utility Vehicles
6.2.6 Commercial Trucks
7. Competitive Intelligence – Company Profiles
7.1 Kantaka Group
7.2 Mahindra & Mahindra
7.3 Tata Motors
7.4 Bajaj Motors
7.8 Mercedes Benz
7.10 Volkswagen Group
7.12 Hero Group
8. Investment Analysis
8.1 Recent Mergers And Acquisitions
8.2 Investment Outlook
9. Future of Ghana Automobile Market