Nigeria: Market for Electric Generating Sets And Rotary Converters 2022

Market Size for Electric Generating Sets And Rotary Converters in Nigeria

In 2020, the Nigerien market for electric generating sets and rotary converters decreased by -X% to $X for the first time since 2017, thus ending a two-year rising trend. Overall, consumption showed a abrupt setback. The most prominent rate of growth was recorded in 2011 when the market value increased by X% y-o-y. As a result, consumption reached the peak level of $X. from 2012 to 2020, the growth of the market remained at a somewhat lower figure.

Exports of Electric Generating Sets And Rotary Converters

Exports from Nigeria

Exports of electric generating sets and rotary converters from Nigeria fell sharply to X units in 2020, dropping by -X% on 2019 figures. Overall, exports, however, continue to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2018 when exports increased by X% against the previous year. Over the period under review, exports reached the peak figure at X units in 2016; however, from 2017 to 2020, exports remained at a lower figure.

In value terms, exports of electric generating sets and rotary converters stood at $X in 2020. In general, exports, however, showed tangible growth. The most prominent rate of growth was recorded in 2015 when exports increased by X% y-o-y. As a result, exports reached the peak of $X. from 2016 to 2020, the growth of exports failed to regain the momentum.

Exports by Country

Niger (X units) was the main destination for exports of electric generating sets and rotary converters from Nigeria, with a X% share of total exports. Moreover, exports of electric generating sets and rotary converters to Niger exceeded the volume sent to the second major destination, Sierra Leone (X units), twofold. Uganda (X units) ranked third in terms of total exports with a X% share.

From 2007 to 2020, the average annual rate of growth in terms of volume to Niger amounted to +X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Sierra Leone (+X% per year) and Uganda (+X% per year).

In value terms, the largest markets for electric generating set and rotary converter exported from Nigeria were Niger ($X), Congo ($X) and Benin ($X), with a combined X% share of total exports. Sierra Leone, Uganda, Liberia and Denmark lagged somewhat behind, together comprising a further X (+X% per year) 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 2020, the average export price for electric generating sets and rotary converters amounted to $X per unit, picking up by X% against the previous year. Overall, the export price enjoyed measured growth. The pace of growth appeared the most rapid in 2017 when the average export price increased by X% year-to-year. As a result, export price reached the peak level of $X per unit. from 2018 to 2020, the growth in terms of the average export prices failed to regain the momentum.

Prices varied noticeably by the country of destination; the country with the highest price was Congo ($X per unit), while the average price for exports to Denmark ($X per unit) was amongst the lowest.

From 2007 to 2020, the most notable rate of growth in terms of prices was recorded for supplies to Uganda (+X% per year), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Electric Generating Sets And Rotary Converters

Imports into Nigeria

In 2020, overseas purchases of electric generating sets and rotary converters decreased by -X% to X units, falling for the sixth year in a row after two years of growth. Over the period under review, imports showed a abrupt contraction. The pace of growth was the most pronounced in 2011 with an increase of X% year-to-year. As a result, imports reached the peak of X units. from 2012 to 2020, the growth of imports failed to regain the momentum.

In value terms, imports of electric generating sets and rotary converters reduced remarkably to $X in 2020. In general, imports showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 with an increase of X% against the previous year. As a result, imports reached the peak of $X, and then reduced sharply in the following year.

Imports by Country

In 2020, China (X units) constituted the largest supplier of electric generating set and rotary converter to Nigeria, with a X% share of total imports. Moreover, imports of electric generating sets and rotary converters from China exceeded the figures recorded by the second-largest supplier, the UK (X units), more than tenfold. The United Arab Emirates (X units) ranked third in terms of total imports with a X% share.

From 2007 to 2020, the average annual rate of growth in terms of volume from China stood at -X%. The remaining supplying countries recorded the following average annual rates of imports growth: the UK (-X% per year) and the United Arab Emirates (-X% per year).

In value terms, China ($X) constituted the largest supplier of electric generating set and rotary converter to Nigeria, comprising X% of total imports. The second position in the ranking was occupied by the UK ($X), with a X% share of total imports. It was followed by India, with a X% share.

From 2007 to 2020, the average annual growth rate of value from China stood at +X%. The remaining supplying countries recorded the following average annual rates of imports growth: the UK (-X% per year) and India (+X% per year).

Import Prices by Country

In 2020, the average import price for electric generating sets and rotary converters amounted to $X per unit, growing by X% against the previous year. Overall, the import price enjoyed a significant expansion. The pace of growth was the most pronounced in 2016 an increase of X% against the previous year. Over the period under review, average import prices reached the peak figure in 2020 and is likely to see gradual growth in years to come.

Prices varied noticeably by the country of origin; the country with the highest price was the UK ($X per unit), while the price for the United Arab Emirates ($X per unit) was amongst the lowest.

From 2007 to 2020, the most notable rate of growth in terms of prices was attained by China, while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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