Nigeria: Electrical Fuse Market 2025

Electrical Fuse Market Size in Nigeria

After three years of growth, the Nigerien electrical fuse market decreased by -1.9% to $X in 2021. Over the period under review, consumption, however, showed a strong expansion. As a result, consumption attained the peak level of $X, and then contracted modestly in the following year.

Electrical Fuse Exports

Exports from Nigeria

In 2021, the amount of electrical fuses exported from Nigeria shrank dramatically to X kg, which is down by -74.8% on the previous year. Overall, exports showed a sharp reduction. The most prominent rate of growth was recorded in 2018 when exports increased by 130%. The exports peaked at X tons in 2013; however, from 2014 to 2021, the exports remained at a lower figure.

In value terms, electrical fuse exports shrank markedly to $X in 2021. Over the period under review, exports saw a sharp decrease. The most prominent rate of growth was recorded in 2018 when exports increased by 92%. Over the period under review, the exports hit record highs at $X in 2013; however, from 2014 to 2021, the exports remained at a lower figure.

Exports by Country

Cote d'Ivoire (X kg), Germany (X kg) and Ghana (X kg) were the main destinations of electrical fuse exports from Nigeria, together accounting for 81% of total exports. Angola, Italy, the Netherlands, the UK and South Africa lagged somewhat behind, together accounting for a further 17%.

From 2012 to 2021, the biggest increases were recorded for the Netherlands (with a CAGR of 0.0%), while shipments for the other leaders experienced mixed trend patterns.

In value terms, Germany ($X) remains the key foreign market for electrical fuses exports from Nigeria, comprising 88% of total exports. The second position in the ranking was taken by Cote d'Ivoire ($X), with a 9.6% share of total exports. It was followed by Italy, with a 1.4% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Germany totaled -18.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Cote d'Ivoire (-29.2% per year) and Italy (0.0% per year).

Export Prices by Country

In 2021, the average electrical fuse export price amounted to $X per ton, with an increase of 40% against the previous year. In general, the export price showed a remarkable increase. The most prominent rate of growth was recorded in 2016 when the average export price increased by 95% against the previous year. Over the period under review, the average export prices attained the peak figure in 2021 and is expected to retain growth in the immediate term.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Germany ($X per ton), while the average price for exports to Ghana ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to the UK (+5.3%), while the prices for the other major destinations experienced mixed trend patterns.

Electrical Fuse Imports

Imports into Nigeria

In 2021, overseas purchases of electrical fuses decreased by -8.9% to X tons for the first time since 2017, thus ending a three-year rising trend. Over the period under review, imports, however, enjoyed strong growth. The most prominent rate of growth was recorded in 2020 when imports increased by 407% against the previous year. As a result, imports attained the peak of X tons, and then fell in the following year.

In value terms, electrical fuse imports skyrocketed to $X in 2021. Overall, imports, however, posted buoyant growth. The pace of growth appeared the most rapid in 2020 with an increase of 203%. Over the period under review, imports reached the maximum in 2021 and are likely to continue growth in the near future.

Imports by Country

In 2021, China (X tons) constituted the largest supplier of electrical fuse to Nigeria, accounting for a 86% share of total imports. Moreover, electrical fuse imports from China exceeded the figures recorded by the second-largest supplier, India (X tons), eightfold.

From 2012 to 2021, the average annual growth rate of volume from China stood at +12.5%.

In value terms, China ($X) constituted the largest supplier of electrical fuses to Nigeria, comprising 76% of total imports. The second position in the ranking was held by India ($X), with an 18% share of total imports.

From 2012 to 2021, the average annual rate of growth in terms of value from China amounted to +16.5%.

Import Prices by Country

The average electrical fuse import price stood at $X per ton in 2021, growing by 38% against the previous year. In general, the import price, however, continues to indicate a slight setback. The most prominent rate of growth was recorded in 2015 an increase of 90%. Over the period under review, average import prices reached the maximum at $X per ton in 2017; however, from 2018 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 India ($X per ton), while the price for China stood at $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+3.5%).

Source: IndexBox Platform

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