Nigeria: Transportation Vehicle Body Market 2025

Transportation Vehicle Body Market Size in Nigeria

In 2022, after five years of growth, there was significant decline in the Nigerien transportation vehicle body market, when its value decreased by -25.3% to $X. In general, consumption, however, showed significant growth. Over the period under review, the market hit record highs at $X in 2021, and then contracted significantly in the following year.

Transportation Vehicle Body Exports

Exports from Nigeria

After three years of growth, shipments abroad of bodies for motor vehicles for the transporting people decreased by -16.7% to X units in 2022. Over the period under review, exports continue to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2016 when exports increased by 75%. The exports peaked at X units in 2017; however, from 2018 to 2022, the exports stood at a somewhat lower figure.

In value terms, transportation vehicle body exports fell to $X in 2022. In general, exports, however, saw a significant increase. The most prominent rate of growth was recorded in 2016 with an increase of 680% against the previous year. As a result, the exports attained the peak of $X. From 2017 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

Ghana (X units), South Africa (X units) and Botswana (X units) were the main destinations of transportation vehicle body exports from Nigeria, together comprising 60% of total exports.

From 2012 to 2022, the biggest increases were recorded for Ghana (with a CAGR of 0.0%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Benin ($X), Ghana ($X) and Niger ($X) were the largest markets for transportation vehicle body exported from Nigeria worldwide, with a combined 92% share of total exports.

Benin, with a CAGR of +85.5%, saw the highest rates of growth with regard to the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average transportation vehicle body export price stood at $X per unit in 2022, surging by 7.3% against the previous year. Over the period under review, the export price enjoyed a significant expansion. The pace of growth appeared the most rapid in 2016 when the average export price increased by 346% against the previous year. As a result, the export price attained the peak level of $X per unit. From 2017 to 2022, the average 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 Benin ($X per unit), while the average price for exports to South Africa ($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 Benin (+85.5%), while the prices for the other major destinations experienced more modest paces of growth.

Transportation Vehicle Body Imports

Imports into Nigeria

After two years of growth, supplies from abroad of bodies for motor vehicles for the transporting people decreased by -26.4% to X units in 2022. Over the period under review, imports, however, posted a significant expansion. The most prominent rate of growth was recorded in 2017 when imports increased by 806% against the previous year. Over the period under review, imports attained the peak figure at X units in 2021, and then shrank markedly in the following year.

In value terms, transportation vehicle body imports fell notably to $X in 2022. Overall, imports, however, enjoyed a significant expansion. The pace of growth appeared the most rapid in 2017 with an increase of 727%. Over the period under review, imports hit record highs at $X in 2021, and then declined markedly in the following year.

Imports by Country

In 2022, France (X units) constituted the largest supplier of transportation vehicle body to Nigeria, accounting for a 42% share of total imports. Moreover, transportation vehicle body imports from France exceeded the figures recorded by the second-largest supplier, Brazil (X units), threefold. The third position in this ranking was taken by the United States (X units), with an 11% share.

From 2012 to 2022, the average annual growth rate of volume from France stood at +104.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Brazil (+26.5% per year) and the United States (+79.2% per year).

In value terms, Thailand ($X), Brazil ($X) and the United States ($X) were the largest transportation vehicle body suppliers to Nigeria, together comprising 52% of total imports. France, South Africa, Ghana, Romania, Niger, the Netherlands and Japan lagged somewhat behind, together comprising a further 22%.

In terms of the main suppliers, Ghana, with a CAGR of +104.5%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average transportation vehicle body import price stood at $X per unit in 2022, surging by 3.2% against the previous year. In general, the import price continues to indicate a pronounced increase. The pace of growth appeared the most rapid in 2013 an increase of 131% against the previous year. The import price peaked at $X per unit in 2014; however, from 2015 to 2022, import prices failed to regain momentum.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Ghana (+27.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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