Nigeria: Electric Heating Resistor Market 2024

Electric Heating Resistor Market Size in Nigeria

The Nigerien electric heating resistor market stood at $X in 2021, growing by 3.3% 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, however, saw a relatively flat trend pattern. Over the period under review, the market attained the peak level at $X in 2013; however, from 2014 to 2021, consumption remained at a lower figure.

Electric Heating Resistor Exports

Exports from Nigeria

In 2021, overseas shipments of electric heating resistors decreased by -28.1% to X units, falling for the second year in a row after two years of growth. Over the period under review, exports, however, continue to indicate buoyant growth. The most prominent rate of growth was recorded in 2015 with an increase of 3,533% against the previous year. The exports peaked at X units in 2019; however, from 2020 to 2021, the exports stood at a somewhat lower figure.

In value terms, electric heating resistor exports contracted rapidly to $X in 2021. In general, exports, however, recorded a buoyant expansion. The most prominent rate of growth was recorded in 2015 with an increase of 2,595% against the previous year. Over the period under review, the exports reached the maximum at $X in 2016; however, from 2017 to 2021, the exports failed to regain momentum.

Exports by Country

Niger (X units) was the main destination for electric heating resistor exports from Nigeria, accounting for a 77% share of total exports. Moreover, electric heating resistor exports to Niger exceeded the volume sent to the second major destination, Cote d'Ivoire (X units), fivefold.

From 2012 to 2021, the average annual growth rate of volume to Niger was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Cote d'Ivoire (+4.9% per year) and Sweden (+14.3% per year).

In value terms, Cote d'Ivoire ($X) remains the key foreign market for electric heating resistors exports from Nigeria, comprising 61% of total exports. The second position in the ranking was held by Niger ($X), with a 25% share of total exports.

From 2012 to 2021, the average annual growth rate of value to Cote d'Ivoire amounted to +65.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Niger (0.0% per year) and Sweden (+15.0% per year).

Export Prices by Country

In 2021, the average electric heating resistor export price amounted to $X per unit, falling by -25.5% against the previous year. In general, the export price showed a pronounced decrease. The most prominent rate of growth was recorded in 2014 when the average export price increased by 124%. Over the period under review, the average export prices reached the maximum at $X per unit in 2016; however, from 2017 to 2021, the export prices failed to regain momentum.

There were significant differences in the average prices for the major external markets. In 2021, amid the top suppliers, the country with the highest price was Cote d'Ivoire ($X per unit), while the average price for exports to Niger ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Ghana (+8.4%), while the prices for the other major destinations experienced more modest paces of growth.

Electric Heating Resistor Imports

Imports into Nigeria

In 2021, purchases abroad of electric heating resistors decreased by -1.7% to X units, falling for the second year in a row after two years of growth. Overall, imports continue to indicate a noticeable decrease. The pace of growth appeared the most rapid in 2019 when imports increased by 174% against the previous year. Imports peaked at X units in 2013; however, from 2014 to 2021, imports stood at a somewhat lower figure.

In value terms, electric heating resistor imports expanded rapidly to $X in 2021. In general, imports, however, enjoyed a buoyant expansion. The pace of growth was the most pronounced in 2013 when imports increased by 153%. Imports peaked at $X in 2019; afterwards, it flattened through to 2021.

Imports by Country

In 2021, China (X units) constituted the largest electric heating resistor supplier to Nigeria, accounting for a 45% share of total imports. Moreover, electric heating resistor imports from China exceeded the figures recorded by the second-largest supplier, Italy (X units), fourfold. The third position in this ranking was taken by Germany (X units), with an 11% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from China stood at -5.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (-7.7% per year) and Germany (+6.1% per year).

In value terms, Germany ($X) constituted the largest supplier of electric heating resistors to Nigeria, comprising 21% of total imports. The second position in the ranking was taken by France ($X), with an 8.5% share of total imports. It was followed by Switzerland, with a 7.3% share.

From 2012 to 2021, the average annual growth rate of value from Germany amounted to +16.1%. The remaining supplying countries recorded the following average annual rates of imports growth: France (+13.8% per year) and Switzerland (+49.4% per year).

Import Prices by Country

The average electric heating resistor import price stood at $X per unit in 2021, surging by 12% against the previous year. Overall, the import price saw a resilient increase. The pace of growth was the most pronounced in 2014 when the average import price increased by 133% against the previous year. Over the period under review, average import prices hit record highs at $X per unit in 2018; however, from 2019 to 2021, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was France ($X per unit), while the price for Lebanon ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by France (+30.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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