Nigeria: Tow-Behind Air Compressor Market 2024

Tow-Behind Air Compressor Market Size in Nigeria

The Nigerien tow-behind air compressor market soared to $X in 2022, growing by 66% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). In general, consumption, however, showed a abrupt contraction. Over the period under review, the market reached the maximum level at $X in 2012; however, from 2013 to 2022, consumption remained at a lower figure.

Tow-Behind Air Compressor Exports

Exports from Nigeria

In 2022, after two years of growth, there was decline in shipments abroad of air compressors mounted on a wheeled chassis for towing, when their volume decreased by 0% to X units. Overall, exports recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 when exports increased by 58%. The exports peaked at X units in 2017; however, from 2018 to 2022, the exports failed to regain momentum.

In value terms, tow-behind air compressor exports shrank notably to $X in 2022. Over the period under review, exports showed a abrupt descent. The pace of growth was the most pronounced in 2021 when exports increased by 436% against the previous year. Over the period under review, the exports attained the peak figure at $X in 2017; however, from 2018 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

The Netherlands (X units), Ghana (X units) and Cote d'Ivoire (X units) were the main destinations of tow-behind air compressor exports from Nigeria, together comprising 36% of total exports. Moreover, tow-behind air compressor exports in the Netherlands exceeded the figures recorded by the second-largest exporter, Ghana, twofold.

From 2012 to 2022, the biggest increases were recorded for the Netherlands (with a CAGR of +7.2%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the Netherlands ($X) remains the key foreign market for air compressors mounted on a wheeled chassis for towing exports from Nigeria, comprising 86% of total exports. The second position in the ranking was held by Benin ($X), with a 4.4% share of total exports. It was followed by Cote d'Ivoire, with a 3.1% share.

From 2012 to 2022, the average annual rate of growth in terms of value to the Netherlands totaled +7.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Benin (-7.2% per year) and Cote d'Ivoire (-15.0% per year).

Export Prices by Country

In 2022, the average tow-behind air compressor export price amounted to $X per unit, shrinking by -40.7% against the previous year. Overall, the export price recorded a deep slump. The most prominent rate of growth was recorded in 2021 an increase of 339% against the previous year. Over the period under review, the average export prices hit record highs at $X per unit in 2012; however, from 2013 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the Netherlands ($X per unit), while the average price for exports to Ghana ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Angola (+17.2%), while the prices for the other major destinations experienced more modest paces of growth.

Tow-Behind Air Compressor Imports

Imports into Nigeria

In 2022, the amount of air compressors mounted on a wheeled chassis for towing imported into Nigeria surged to X units, with an increase of 67% compared with the previous year. Over the period under review, imports, however, recorded a abrupt decrease. The most prominent rate of growth was recorded in 2014 with an increase of 240% against the previous year. Over the period under review, imports attained the peak figure at X units in 2012; however, from 2013 to 2022, imports remained at a lower figure.

In value terms, tow-behind air compressor imports soared to $X in 2022. Overall, imports, however, faced a deep reduction. The pace of growth was the most pronounced in 2016 when imports increased by 158%. Imports peaked at $X in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

Imports by Country

India (X units), China (X units) and Belgium (X units) were the main suppliers of tow-behind air compressor imports to Nigeria, with a combined 94% share of total imports. The UK and the Netherlands lagged somewhat behind, together accounting for a further 1.8%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by the UK (with a CAGR of +24.6%), while imports for the other leaders experienced more modest paces of growth.

In value terms, China ($X) constituted the largest supplier of air compressors mounted on a wheeled chassis for towing to Nigeria, comprising 50% of total imports. The second position in the ranking was taken by India ($X), with a 14% share of total imports. It was followed by Belgium, with a 6.2% share.

From 2012 to 2022, the average annual rate of growth in terms of value from China stood at +27.5%. The remaining supplying countries recorded the following average annual rates of imports growth: India (+9.9% per year) and Belgium (-5.0% per year).

Import Prices by Country

The average tow-behind air compressor import price stood at $X per unit in 2022, which is down by -6.3% against the previous year. Overall, the import price faced a deep slump. The growth pace was the most rapid in 2016 when the average import price increased by 141%. The import price peaked at $X per unit in 2012; however, from 2013 to 2022, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the Netherlands ($X per unit), while the price for India ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+10.9%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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