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Report Nigeria - Bearing Housings Incorporating Ball or Roller Bearings - Market Analysis, Forecast, Size, Trends and Insights for 499$
Report Update Nov 1, 2024

Nigeria - Bearing Housings Incorporating Ball or Roller Bearings - Market Analysis, Forecast, Size, Trends and Insights

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Nigeria: Market for Bearing Housings Incorporating Ball Or Roller Bearings 2024

Market Size for Bearing Housings Incorporating Ball Or Roller Bearings in Nigeria

In 2022, the Nigerien market for bearing housings incorporating ball or roller bearings increased by 143% to $X, rising for the sixth consecutive year after three years of decline. In general, consumption enjoyed a remarkable increase. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Exports of Bearing Housings Incorporating Ball Or Roller Bearings

Exports from Nigeria

After two years of growth, shipments abroad of bearing housings incorporating ball or roller bearings decreased by -33.4% to X tons in 2022. In general, exports showed a abrupt setback. The pace of growth appeared the most rapid in 2016 with an increase of 238%. The exports peaked at X tons in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

In value terms, bearing housing with ball bearing exports totaled $X in 2022. Overall, exports, however, posted buoyant growth. The pace of growth appeared the most rapid in 2016 with an increase of 521%. The exports peaked at $X in 2019; however, from 2020 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Italy (X tons) was the main destination for bearing housing with ball bearing exports from Nigeria, with a 88% share of total exports. Moreover, bearing housing with ball bearing exports to Italy exceeded the volume sent to the second major destination, India (X kg), more than tenfold.

From 2012 to 2022, the average annual rate of growth in terms of volume to Italy totaled +34.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: India (+2,916.7% per year) and Zimbabwe (+21.8% per year).

In value terms, Italy ($X) remains the key foreign market for bearing housings incorporating ball or roller bearings exports from Nigeria, comprising 47% of total exports. The second position in the ranking was held by India ($X), with a 4.4% share of total exports.

From 2012 to 2022, the average annual growth rate of value to Italy stood at +24.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: India (+3,862.5% per year) and Zimbabwe (+8.7% per year).

Export Prices by Country

The average export price for bearing housings incorporating ball or roller bearings stood at $X per ton in 2022, jumping by 61% against the previous year. In general, the export price posted a significant expansion. The most prominent rate of growth was recorded in 2013 an increase of 667% against the previous year. Over the period under review, the average export prices hit record highs at $X per ton in 2019; however, from 2020 to 2022, the export prices stood at a somewhat lower figure.

Average prices varied somewhat for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Italy ($X per ton), while the average price for exports to Zimbabwe ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to India (+31.3%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Bearing Housings Incorporating Ball Or Roller Bearings

Imports into Nigeria

In 2022, supplies from abroad of bearing housings incorporating ball or roller bearings increased by 142% to X tons, rising for the sixth year in a row after four years of decline. In general, imports posted a prominent increase. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, bearing housing with ball bearing imports soared to $X in 2022. Overall, imports continue to indicate a prominent expansion. The most prominent rate of growth was recorded in 2013 when imports increased by 169%. Imports peaked in 2022 and are expected to retain growth in the near future.

Imports by Country

In 2022, the United Arab Emirates (X tons) was the main bearing housing with ball bearing supplier to Nigeria, with a approx. 100% share of total imports.

From 2012 to 2022, the average annual growth rate of volume from the United Arab Emirates amounted to +40.7%.

In value terms, the United Arab Emirates ($X) constituted the largest supplier of bearing housings incorporating ball or roller bearings to Nigeria.

From 2012 to 2022, the average annual rate of growth in terms of value from the United Arab Emirates stood at +46.7%.

Import Prices by Country

In 2022, the average import price for bearing housings incorporating ball or roller bearings amounted to $X per ton, flattening at the previous year. Over the period under review, the import price continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 when the average import price increased by 204% against the previous year. The import price peaked at $X per ton in 2016; however, from 2017 to 2022, import prices failed to regain momentum.

As there is only one major supplying country, the average price level is determined by prices for the United Arab Emirates.

From 2012 to 2022, the rate of growth in terms of prices for the United Arab Emirates amounted to +4.3% per year.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

The countries with the highest volumes of in 2021 were China, South Africa and the United States, together comprising 72% of global consumption.
China constituted the country with the largest volume of bearing housing with ball bearing production, accounting for 64% of total volume. Moreover, bearing housing with ball bearing production in China exceeded the figures recorded by the second-largest producer, the United States, ninefold. India ranked third in terms of total production with a 4.6% share.
In value terms, China, Japan and Germany were the largest bearing housing with ball bearing suppliers to Nigeria, together comprising 77% of total imports.
In value terms, the largest markets for bearing housing with ball bearing exported from Nigeria were Italy, Ghana and Zimbabwe $497), together accounting for 83% of total exports.
In 2021, the average export price for bearing housings incorporating ball or roller bearings amounted to $23,183 per ton, with a decrease of -12% against the previous year.
The average import price for bearing housings incorporating ball or roller bearings stood at $10,341 per ton in 2021, declining by -8.6% against the previous year.

This report provides an in-depth analysis of the market for bearing housing with ball bearing in Nigeria. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

  • Prodcom 28152330 - Bearing housings incorporating ball or roller bearings

Country coverage:

  • Nigeria

Data coverage:

  • Market volume and value
  • Per Capita consumption
  • Forecast of the market dynamics in the medium term
  • Trade (exports and imports) in Nigeria
  • Export and import prices
  • Market trends, drivers and restraints
  • Key market players and their profiles

Reasons to buy this report:

  • Take advantage of the latest data
  • Find deeper insights into current market developments
  • Discover vital success factors affecting the market

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

  1. How to diversify your business and benefit from new market opportunities
  2. How to load your idle production capacity
  3. How to boost your sales on overseas markets
  4. How to increase your profit margins
  5. How to make your supply chain more sustainable
  6. How to reduce your production and supply chain costs
  7. How to outsource production to other countries
  8. How to prepare your business for global expansion

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

  1. 1. INTRODUCTION

    Making Data-Driven Decisions to Grow Your Business

    1. REPORT DESCRIPTION
    2. RESEARCH METHODOLOGY AND AI PLATFORM
    3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
    4. GLOSSARY AND SPECIFIC TERMS

  2. 2. EXECUTIVE SUMMARY

    A Quick Overview of Market Performance

    1. KEY FINDINGS
    2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO

  3. 3. MARKET OVERVIEW

    Understanding the Current State of The Market and Its Prospects

    1. MARKET SIZE
    2. MARKET STRUCTURE
    3. TRADE BALANCE
    4. PER CAPITA CONSUMPTION
    5. MARKET FORECAST TO 2030

  4. 4. MOST PROMISING PRODUCT

    Finding New Products to Diversify Your Business

    This Chapter is Available Only for the Professional Edition PRO
    1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
    2. BEST-SELLING PRODUCTS
    3. MOST CONSUMED PRODUCT
    4. MOST TRADED PRODUCT
    5. MOST PROFITABLE PRODUCT FOR EXPORT

  5. 5. MOST PROMISING SUPPLYING COUNTRIES

    Choosing the Best Countries to Establish Your Sustainable Supply Chain

    This Chapter is Available Only for the Professional Edition PRO
    1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
    2. TOP PRODUCING COUNTRIES
    3. TOP EXPORTING COUNTRIES
    4. LOW-COST EXPORTING COUNTRIES

  6. 6. MOST PROMISING OVERSEAS MARKETS

    Choosing the Best Countries to Boost Your Exports

    This Chapter is Available Only for the Professional Edition PRO
    1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
    2. TOP CONSUMING MARKETS
    3. UNSATURATED MARKETS
    4. TOP IMPORTING MARKETS
    5. MOST PROFITABLE MARKETS

  7. 7. PRODUCTION

    The Latest Trends and Insights into The Industry

    1. PRODUCTION VOLUME AND VALUE

  8. 8. IMPORTS

    The Largest Import Supplying Countries

    1. IMPORTS FROM 2012–2023
    2. IMPORTS BY COUNTRY
    3. IMPORT PRICES BY COUNTRY

  9. 9. EXPORTS

    The Largest Destinations for Exports

    1. EXPORTS FROM 2012–2023
    2. EXPORTS BY COUNTRY
    3. EXPORT PRICES BY COUNTRY

  10. 10. PROFILES OF MAJOR PRODUCERS

    The Largest Producers on The Market and Their Profiles

    This Chapter is Available Only for the Professional Edition PRO

  11. LIST OF TABLES

    1. Key Findings In 2023
    2. Market Volume, In Physical Terms, 2012–2023
    3. Market Value, 2012–2023
    4. Per Capita Consumption In 2012-2023
    5. Imports, In Physical Terms, By Country, 2012–2023
    6. Imports, In Value Terms, By Country, 2012–2023
    7. Import Prices, By Country Of Origin, 2012–2023
    8. Exports, In Physical Terms, By Country, 2012–2023
    9. Exports, In Value Terms, By Country, 2012–2023
    10. Export Prices, By Country Of Destination, 2012–2023

  12. LIST OF FIGURES

    1. Market Volume, In Physical Terms, 2012–2023
    2. Market Value, 2012–2023
    3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
    4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
    5. Trade Balance, In Physical Terms, 2012-2023
    6. Trade Balance, In Value Terms, 2012-2023
    7. Per Capita Consumption, 2012-2023
    8. Market Volume Forecast to 2030
    9. Market Value Forecast to 2030
    10. Products: Market Size And Growth, By Type
    11. Products: Average Per Capita Consumption, By Type
    12. Products: Exports And Growth, By Type
    13. Products: Export Prices And Growth, By Type
    14. Production Volume And Growth
    15. Exports And Growth
    16. Export Prices And Growth
    17. Market Size And Growth
    18. Per Capita Consumption
    19. Imports And Growth
    20. Import Prices
    21. Production, In Physical Terms, 2012–2023
    22. Production, In Value Terms, 2012–2023
    23. Imports, In Physical Terms, 2012–2023
    24. Imports, In Value Terms, 2012–2023
    25. Imports, In Physical Terms, By Country, 2023
    26. Imports, In Physical Terms, By Country, 2012–2023
    27. Imports, In Value Terms, By Country, 2012–2023
    28. Import Prices, By Country Of Origin, 2012–2023
    29. Exports, In Physical Terms, 2012–2023
    30. Exports, In Value Terms, 2012–2023
    31. Exports, In Physical Terms, By Country, 2023
    32. Exports, In Physical Terms, By Country, 2012–2023
    33. Exports, In Value Terms, By Country, 2012–2023
    34. Export Prices, By Country Of Destination, 2012–2023

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