Report Update Nov 1, 2024

Nigeria - Electrical Transformers - Market Analysis, Forecast, Size, Trends and Insights

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Nigeria: Electrical Transformer Market 2024

Electrical Transformer Market Size in Nigeria

In 2022, the Nigerien electrical transformer market decreased by X% to $X, falling for the second consecutive year after four years of growth. In general, consumption saw a noticeable decrease. As a result, consumption attained the peak level of $X. From 2021 to 2022, the growth of the market failed to regain momentum.

Electrical Transformer Exports

Exports from Nigeria

In 2022, overseas shipments of electrical transformers decreased by X% to X units for the first time since 2019, thus ending a two-year rising trend. Over the period under review, exports, however, posted a strong expansion. The most prominent rate of growth was recorded in 2020 when exports increased by X%. Over the period under review, the exports hit record highs at X units in 2021, and then contracted significantly in the following year.

In value terms, electrical transformer exports surged to $X in 2022. In general, exports, however, saw a resilient expansion. The growth pace was the most rapid in 2017 when exports increased by X% against the previous year. The exports peaked at $X in 2014; however, from 2015 to 2022, the exports remained at a lower figure.

Exports by Country

Benin (X units), India (X units) and Ghana (X units) were the main destinations of electrical transformer exports from Nigeria, together accounting for X% of total exports.

From 2012 to 2022, the biggest increases were recorded for Benin (with a CAGR of X%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Ghana ($X), India ($X) and Benin ($X) appeared to be the largest markets for electrical transformer exported from Nigeria worldwide, together comprising X% of total exports.

Ghana, with a CAGR of X%, saw the highest growth rate of the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced mixed trend patterns.

Export Prices by Country

In 2022, the average electrical transformer export price amounted to $X per unit, surging by X% against the previous year. In general, the export price, however, recorded a noticeable curtailment. The most prominent rate of growth was recorded in 2017 an increase of X% against the previous year. Over the period under review, the average export prices attained the peak figure at $X per unit in 2014; however, from 2015 to 2022, the export prices failed to regain momentum.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Ghana (X%), while the prices for the other major destinations experienced a decline.

Electrical Transformer Imports

Imports into Nigeria

After two years of growth, purchases abroad of electrical transformers decreased by X% to X units in 2022. In general, imports, however, continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 with an increase of X%. As a result, imports reached the peak of X units, and then dropped significantly in the following year.

In value terms, electrical transformer imports soared to $X in 2022. Over the period under review, imports recorded a pronounced curtailment. Over the period under review, imports hit record highs at $X in 2012; however, from 2013 to 2022, imports remained at a lower figure.

Imports by Country

China (X units), Turkey (X units) and Angola (X units) were the main suppliers of electrical transformer imports to Nigeria, with a combined X% share of total imports. India, Ghana, the United States and Croatia lagged somewhat behind, together comprising a further X%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Ghana (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, India ($X), China ($X) and Turkey ($X) were the largest electrical transformer suppliers to Nigeria, with a combined X% share of total imports. Ghana, the United States, Angola and Croatia lagged somewhat behind, together comprising a further X%.

Among the main suppliers, Ghana, with a CAGR of X%, recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average electrical transformer import price stood at $X per unit in 2022, rising by X% against the previous year. Overall, the import price, however, recorded a perceptible decline. The import price peaked at $X per unit in 2019; however, from 2020 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 India ($X per unit), while the price for Angola ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Croatia (X%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for electrical transformers in the world?

China remains the largest electrical transformer consuming country worldwide, comprising approx. 24% of total volume. Moreover, electrical transformer consumption in China exceeded the figures recorded by the second-largest consumer, India, twofold. The third position in this ranking was occupied by the United States, with an 8.1% share.

What are the largest producers of electrical transformers in the world?

China constituted the country with the largest volume of electrical transformer production, comprising approx. 63% of total volume. Moreover, electrical transformer production in China exceeded the figures recorded by the second-largest producer, India, more than tenfold. The third position in this ranking was occupied by Brazil, with a 3.6% share.

What are the leading suppliers of electrical transformers to Nigeria?

In value terms, the largest electrical transformer suppliers to Nigeria were India, China and Turkey, with a combined 100% share of total imports. These countries were followed by Germany, France and the United Arab Emirates, which together accounted for a further 12%.

What are the leading importers of electrical transformers from Nigeria?

In value terms, Ghana remains the key foreign market for electrical transformer exports from Nigeria, comprising 12% of total exports. The second position in the ranking was occupied by India, with a 2.5% share of total exports. It was followed by Turkey, with a 2.3% share.

What is the average export price for electrical transformers in Nigeria?

In 2021, the average electrical transformer export price amounted to less than $0.1 per unit, therefore, remained relatively stable against the previous year.

What is the average import price for electrical transformers in Nigeria?

The average electrical transformer import price stood at less than $0.1 per unit in 2021, remaining stable against the previous year.

This report provides an in-depth analysis of the electrical transformer 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 27114120 - Liquid dielectric transformers having a power handling capacity . .650 kVA
Prodcom 27114150 - Liquid dielectric transformers having a power handling capacity > .650 kVA but . .10 .000 kVA
Prodcom 27114180 - Liquid dielectric transformers having a power handling capacity > .10 .000 kVA
Prodcom 27114220 - Measuring transformers having a power handling capacity . 1 kVA (including for voltage measurement)
Prodcom 27114240 - Other transformers, n.e.c., having a power handling capacity. 1 kVA
Prodcom 27114260 - Other transformers, having a power handling capacity > 1 kVA but . .16 kVA
Prodcom 27114330 - Transformers, n.e.c., having a power handling capacity > .16 kVA but . .500 kVA
Prodcom 27114380 - Transformers, n.e.c., having a power handling capacity > .500 kVA

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