Nigeria: Gas Supply Meter Market 2025

Gas Supply Meter Market Size in Nigeria

The Nigerien gas supply meter market soared to $X in 2021, rising by 281% 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). Over the period under review, consumption enjoyed a significant increase. Over the period under review, the market attained the peak level in 2021 and is likely to see steady growth in the immediate term.

Gas Supply Meter Exports

Exports from Nigeria

In 2021, overseas shipments of gas supply or production meters decreased by -89.7% to X units, falling for the second year in a row after two years of growth. Overall, exports continue to indicate a dramatic decrease. The pace of growth appeared the most rapid in 2015 with an increase of 118%. As a result, the exports attained the peak of X units. From 2016 to 2021, the growth of the exports failed to regain momentum.

In value terms, gas supply meter exports reduced markedly to $X in 2021. In general, exports faced a drastic downturn. The pace of growth was the most pronounced in 2019 when exports increased by 176% against the previous year. As a result, the exports attained the peak of $X. From 2020 to 2021, the growth of the exports remained at a lower figure.

Exports by Country

Cote d'Ivoire (X units), the Netherlands (X units) and Ghana (X units) were the main destinations of gas supply meter exports from Nigeria, together comprising 99.9% of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Cote d'Ivoire (with a CAGR of +17.0%), while the other leaders experienced mixed trend patterns.

In value terms, Cote d'Ivoire ($X) remains the key foreign market for gas supply or production meters exports from Nigeria, comprising 67% of total exports. The second position in the ranking was taken by the Netherlands ($X), with a 16% share of total exports. It was followed by Germany, with an 8.1% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Cote d'Ivoire stood at +52.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Netherlands (+61.5% per year) and Germany (+20.4% per year).

Export Prices by Country

In 2021, the average gas supply meter export price amounted to $X per unit, surging by 51% against the previous year. Over the period under review, the export price posted a prominent increase. The most prominent rate of growth was recorded in 2016 an increase of 120% against the previous year. The export price peaked in 2021 and is expected to retain growth in the near future.

There were significant differences in the average prices for the major foreign markets. In 2021, the country with the highest price was Cote d'Ivoire ($X per unit), while the average price for exports to Ghana ($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 South Africa (+229.2%), while the prices for the other major destinations experienced mixed trend patterns.

Gas Supply Meter Imports

Imports into Nigeria

In 2021, gas supply meter imports into Nigeria skyrocketed to X units, with an increase of 336% on the year before. Over the period under review, imports continue to indicate a significant expansion. The most prominent rate of growth was recorded in 2018 when imports increased by 654% against the previous year. Imports peaked in 2021 and are likely to see gradual growth in the immediate term.

In value terms, gas supply meter imports soared to $X in 2021. Overall, imports posted prominent growth. The pace of growth was the most pronounced in 2018 with an increase of 591% against the previous year. As a result, imports reached the peak of $X. From 2019 to 2021, the growth of imports remained at a somewhat lower figure.

Imports by Country

In 2021, Malaysia (X units) constituted the largest gas supply meter supplier to Nigeria, with a 82% share of total imports. Moreover, gas supply meter imports from Malaysia exceeded the figures recorded by the second-largest supplier, India (X units), ninefold. The United States (X units) ranked third in terms of total imports with a 4.2% share.

From 2012 to 2021, the average annual growth rate of volume from Malaysia amounted to +42.2%. The remaining supplying countries recorded the following average annual rates of imports growth: India (+112.8% per year) and the United States (+65.5% per year).

In value terms, Malaysia ($X) constituted the largest supplier of gas supply or production meters to Nigeria, comprising 47% of total imports. The second position in the ranking was held by the United States ($X), with a 10% share of total imports. It was followed by India, with a 3.9% share.

From 2012 to 2021, the average annual rate of growth in terms of value from Malaysia totaled -16.6%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (+62.6% per year) and India (+64.2% per year).

Import Prices by Country

The average gas supply meter import price stood at $X per unit in 2021, declining by -69.6% against the previous year. In general, the import price faced a dramatic shrinkage. The most prominent rate of growth was recorded in 2016 an increase of 16%. Over the period under review, average import prices hit record highs at $X per unit in 2012; however, from 2013 to 2021, import prices remained at a lower figure.

Prices varied noticeably country of origin: the country with the highest price was the UK ($X per unit), while the price for India ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United States (-1.8%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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