Nigeria - Clutches and Shaft Couplings - Market Analysis, Forecast, Size, Trends and Insights
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View PricingNigeria: Shaft Coupling Market 2024
Shaft Coupling Market Size in Nigeria
In 2022, the Nigerien shaft coupling market increased by 322% to $X, rising for the fifth year in a row after four years of decline. Overall, consumption saw significant growth. Shaft coupling consumption peaked in 2022 and is likely to see gradual growth in the near future.
Shaft Coupling Exports
Exports from Nigeria
In 2022, approx. X tons of clutches and shaft couplings were exported from Nigeria; jumping by 243% compared with the previous year's figure. In general, exports, however, recorded a pronounced slump. The most prominent rate of growth was recorded in 2020 with an increase of 481% against the previous year. As a result, the exports attained the peak of X tons. From 2021 to 2022, the growth of the exports remained at a somewhat lower figure.
In value terms, shaft coupling exports surged to $X in 2022. Overall, exports, however, recorded a relatively flat trend pattern. The growth pace was the most rapid in 2020 with an increase of 501% against the previous year. As a result, the exports reached the peak of $X. From 2021 to 2022, the growth of the exports remained at a lower figure.
Exports by Country
Kenya (X tons) was the main destination for shaft coupling exports from Nigeria, with a 47% share of total exports. Moreover, shaft coupling exports to Kenya exceeded the volume sent to the second major destination, the Netherlands (X kg), fourfold. The third position in this ranking was held by Italy (X kg), with a 12% share.
From 2012 to 2022, the average annual rate of growth in terms of volume to Kenya totaled +31.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Netherlands (-8.6% per year) and Italy (-5.3% per year).
In value terms, the largest markets for shaft coupling exported from Nigeria were Cote d'Ivoire ($X), Kenya ($X) and Italy ($X), together comprising 65% of total exports. The Netherlands, Ghana, South Korea, the UK and Angola lagged somewhat behind, together comprising a further 29%.
South Korea, with a CAGR of +34.2%, saw the highest growth rate of 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
In 2022, the average shaft coupling export price amounted to $X per ton, rising by 26% against the previous year. Over the period under review, export price indicated mild growth from 2012 to 2022: its price increased at an average annual rate of +1.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, shaft coupling export price increased by +31.2% against 2019 indices. The most prominent rate of growth was recorded in 2015 an increase of 64%. As a result, the export price attained the peak level of $X per ton. From 2016 to 2022, the average export prices remained at a somewhat lower figure.
Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Cote d'Ivoire ($X per ton), while the average price for exports to Angola ($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 Ghana (+36.4%), while the prices for the other major destinations experienced more modest paces of growth.
Shaft Coupling Imports
Imports into Nigeria
In 2022, supplies from abroad of clutches and shaft couplings increased by 347% to X tons, rising for the fifth year in a row after four years of decline. In general, imports continue to indicate significant growth. The most prominent rate of growth was recorded in 2013 when imports increased by 435%. Imports peaked in 2022 and are expected to retain growth in the immediate term.
In value terms, shaft coupling imports surged to $X in 2022. Over the period under review, imports posted a significant expansion. The pace of growth appeared the most rapid in 2013 with an increase of 389%. Imports peaked in 2022 and are expected to retain growth in the immediate term.
Imports by Country
China (X tons), Germany (X tons) and the UK (X tons) were the main suppliers of shaft coupling imports to Nigeria, with a combined 53% share of total imports. Malaysia, the United Arab Emirates, Barbados, Israel, Spain, Taiwan (Chinese), India, South Africa, Norway and the United States lagged somewhat behind, together accounting for a further 37%.
From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Israel (with a CAGR of +102.1%), while imports for the other leaders experienced more modest paces of growth.
In value terms, China ($X) constituted the largest supplier of clutches and shaft couplings to Nigeria, comprising 32% of total imports. The second position in the ranking was held by Germany ($X), with a 10% share of total imports. It was followed by the UK, with an 8.8% share.
From 2012 to 2022, the average annual growth rate of value from China amounted to +38.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+59.5% per year) and the UK (+36.2% per year).
Import Prices by Country
In 2022, the average shaft coupling import price amounted to $X per ton, shrinking by -30.7% against the previous year. In general, the import price continues to indicate a abrupt slump. The pace of growth was the most pronounced in 2015 when the average import price increased by 40% against the previous year. The import price peaked at $X per ton in 2016; however, from 2017 to 2022, import prices stood at a somewhat lower figure.
There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was South Africa ($X per ton), while the price for Israel ($X per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by India (+6.1%), while the prices for the other major suppliers experienced more modest paces of growth.
Source: IndexBox Platform
Frequently Asked Questions (FAQ) :
This report provides an in-depth analysis of the shaft coupling 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 28152600 - Clutches and shaft couplings (including universal joints)
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.
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1. INTRODUCTION
Making Data-Driven Decisions to Grow Your Business
- REPORT DESCRIPTION
- RESEARCH METHODOLOGY AND AI PLATFORM
- DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
- GLOSSARY AND SPECIFIC TERMS
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2. EXECUTIVE SUMMARY
A Quick Overview of Market Performance
- KEY FINDINGS
- MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
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3. MARKET OVERVIEW
Understanding the Current State of The Market and Its Prospects
- MARKET SIZE
- MARKET STRUCTURE
- TRADE BALANCE
- PER CAPITA CONSUMPTION
- MARKET FORECAST TO 2030
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4. MOST PROMISING PRODUCT
Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO- TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
- BEST-SELLING PRODUCTS
- MOST CONSUMED PRODUCT
- MOST TRADED PRODUCT
- MOST PROFITABLE PRODUCT FOR EXPORT
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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- TOP COUNTRIES TO SOURCE YOUR PRODUCT
- TOP PRODUCING COUNTRIES
- TOP EXPORTING COUNTRIES
- LOW-COST EXPORTING COUNTRIES
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6. MOST PROMISING OVERSEAS MARKETS
Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO- TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
- TOP CONSUMING MARKETS
- UNSATURATED MARKETS
- TOP IMPORTING MARKETS
- MOST PROFITABLE MARKETS
7. PRODUCTION
The Latest Trends and Insights into The Industry
- PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
- IMPORTS FROM 2012–2023
- IMPORTS BY COUNTRY
- IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
- EXPORTS FROM 2012–2023
- EXPORTS BY COUNTRY
- EXPORT PRICES BY COUNTRY
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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
- Key Findings In 2023
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Per Capita Consumption In 2012-2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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LIST OF FIGURES
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
- Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
- Trade Balance, In Physical Terms, 2012-2023
- Trade Balance, In Value Terms, 2012-2023
- Per Capita Consumption, 2012-2023
- Market Volume Forecast to 2030
- Market Value Forecast to 2030
- Products: Market Size And Growth, By Type
- Products: Average Per Capita Consumption, By Type
- Products: Exports And Growth, By Type
- Products: Export Prices And Growth, By Type
- Production Volume And Growth
- Exports And Growth
- Export Prices And Growth
- Market Size And Growth
- Per Capita Consumption
- Imports And Growth
- Import Prices
- Production, In Physical Terms, 2012–2023
- Production, In Value Terms, 2012–2023
- Imports, In Physical Terms, 2012–2023
- Imports, In Value Terms, 2012–2023
- Imports, In Physical Terms, By Country, 2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, 2012–2023
- Exports, In Value Terms, 2012–2023
- Exports, In Physical Terms, By Country, 2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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