Report Update Nov 1, 2024

Nigeria - Cargo Trailers and Semi-Trailers - Market Analysis, Forecast, Size, Trends and Insights

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Nigeria: Trailer And Semi-Trailer Market 2024

Trailer And Semi-Trailer Market Size in Nigeria

The Nigerien trailer and semi-trailer market dropped to $X in 2022, which is down by -12.9% 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 continues to indicate a abrupt contraction. Over the period under review, the market hit record highs at $X in 2013; however, from 2014 to 2022, consumption failed to regain momentum.

Trailer And Semi-Trailer Exports

Exports from Nigeria

In 2022, the amount of cargo trailers and semi-trailers exported from Nigeria soared to X units, with an increase of 660% against 2021. Over the period under review, exports continue to indicate a significant expansion. The most prominent rate of growth was recorded in 2016 when exports increased by 793% against the previous year. The exports peaked in 2022 and are likely to see gradual growth in years to come.

In value terms, trailer and semi-trailer exports skyrocketed to $X in 2022. Overall, exports enjoyed a significant increase. The growth pace was the most rapid in 2014 with an increase of 663% against the previous year. Over the period under review, the exports reached the peak figure at $X in 2020; however, from 2021 to 2022, the exports failed to regain momentum.

Exports by Country

Niger (X units) was the main destination for trailer and semi-trailer exports from Nigeria, accounting for a 80% share of total exports. Moreover, trailer and semi-trailer exports to Niger exceeded the volume sent to the second major destination, Benin (X units), fourfold.

From 2012 to 2022, the average annual growth rate of volume to Niger totaled +67.7%.

In value terms, Niger ($X) emerged as the key foreign market for cargo trailers and semi-trailers exports from Nigeria, comprising 64% of total exports. The second position in the ranking was taken by Benin ($X), with a 30% share of total exports.

From 2012 to 2022, the average annual growth rate of value to Niger amounted to +93.1%.

Export Prices by Country

In 2022, the average trailer and semi-trailer export price amounted to $X per unit, dropping by -84.7% against the previous year. Over the period under review, the export price recorded a deep setback. The growth pace was the most rapid in 2014 when the average export price increased by 445% against the previous year. As a result, the export price reached the peak level of $X per unit. From 2015 to 2022, the average export prices failed to regain momentum.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Benin ($X per unit), while the average price for exports to Niger amounted to $X per unit.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Niger (+15.2%).

Trailer And Semi-Trailer Imports

Imports into Nigeria

In 2022, trailer and semi-trailer imports into Nigeria shrank remarkably to X units, waning by -24% on the previous year. In general, imports recorded a deep reduction. The pace of growth appeared the most rapid in 2019 when imports increased by 307% against the previous year. Imports peaked at X units in 2013; however, from 2014 to 2022, imports remained at a lower figure.

In value terms, trailer and semi-trailer imports skyrocketed to $X in 2022. Over the period under review, imports, however, continue to indicate a tangible expansion. Over the period under review, imports attained the maximum at $X in 2013; however, from 2014 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, China (X units) constituted the largest supplier of trailer and semi-trailer to Nigeria, accounting for a 78% share of total imports. It was followed by Italy (X units), with a 2% share of total imports. The third position in this ranking was held by Turkey (X units), with a 2% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China amounted to +5.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (+2.4% per year) and Turkey (+1.8% per year).

In value terms, China ($X) constituted the largest supplier of cargo trailers and semi-trailers to Nigeria, comprising 71% of total imports. The second position in the ranking was held by Turkey ($X), with a 4.5% share of total imports. It was followed by the United States, with a 2.3% share.

From 2012 to 2022, the average annual growth rate of value from China amounted to +7.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Turkey (+9.6% per year) and the United States (-5.4% per year).

Import Prices by Country

In 2022, the average trailer and semi-trailer import price amounted to $X per unit, jumping by 124% against the previous year. Overall, the import price enjoyed resilient growth. The most prominent rate of growth was recorded in 2017 an increase of 357%. As a result, import price attained the peak level of $X per unit. From 2018 to 2022, the average import prices remained at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Turkey ($X per unit), while the price for Italy ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Sweden (+50.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

This report provides an in-depth analysis of the trailer and semi-trailer market 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 29202300 - Other trailers and semi-trailers for the transport of goods

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:

How to diversify your business and benefit from new market opportunities
How to load your idle production capacity
How to boost your sales on overseas markets
How to increase your profit margins
How to make your supply chain more sustainable
How to reduce your production and supply chain costs
How to outsource production to other countries
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. 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. 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. 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. 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. 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. 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. PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
1. IMPORTS FROM 2012–2023
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
1. EXPORTS FROM 2012–2023
2. EXPORTS BY COUNTRY
3. EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO
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
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