Report Update Jan 1, 2025

Nigeria - Gear Cutting, Gear Grinding or Gear Finishing Machines - Market Analysis, Forecast, Size, Trends and Insights

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Nigeria: Gear Cutting Machine Market 2025

Gear Cutting Machine Market Size in Nigeria

In 2021, the Nigerien gear cutting machine market increased by 713% to $X, rising for the fourth year in a row after two years of decline. Over the period under review, consumption showed significant growth. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Gear Cutting Machine Exports

Exports from Nigeria

In 2021, the amount of gear cutting, gear grinding or gear finishing machines exported from Nigeria amounted to X units, approximately equating the previous year's figure. Over the period under review, exports recorded a buoyant expansion. The smallest decline of 99.9% was in 2017. The exports peaked in 2021 and are likely to see gradual growth in years to come.

In value terms, gear cutting machine exports contracted markedly to $X in 2021. In general, exports saw a dramatic decrease. Over the period under review, the exports attained the peak figure at $X in 2016; however, from 2017 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Sweden (X units) was the main destination for gear cutting machine exports from Nigeria, accounting for a approx. 100% share of total exports.

From 2016 to 2021, the average annual rate of growth in terms of volume to Sweden was relatively modest.

In value terms, Sweden ($X) emerged as the key foreign market for gear cutting, gear grinding or gear finishing machines exports from Nigeria.

From 2016 to 2021, the average annual rate of growth in terms of value to Sweden was relatively modest.

Export Prices by Country

In 2021, the average gear cutting machine export price amounted to $X per unit, which is down by -86.5% against the previous year. Overall, the export price showed a precipitous decrease. Over the period under review, the average export prices attained the maximum at $X per unit in 2016; however, from 2017 to 2021, the export prices failed to regain momentum.

As there is only one major export destination, the average price level is determined by prices for Sweden.

From 2016 to 2021, the rate of growth in terms of prices for Sweden amounted to 0.0% per year.

Gear Cutting Machine Imports

Imports into Nigeria

In 2021, supplies from abroad of gear cutting, gear grinding or gear finishing machines increased by 755% to X units, rising for the fourth consecutive year after two years of decline. Over the period under review, imports saw a significant expansion. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, gear cutting machine imports reduced sharply to $X in 2021. In general, imports enjoyed a significant increase. The pace of growth appeared the most rapid in 2020 when imports increased by 489% against the previous year. As a result, imports attained the peak of $X, and then fell sharply in the following year.

Imports by Country

In 2021, China (X units) was the main gear cutting machine supplier to Nigeria, with a 99% share of total imports. It was followed by the United Arab Emirates (X units), with a 0.3% share of total imports.

From 2012 to 2021, the average annual rate of growth in terms of volume from China stood at +98.7%.

In value terms, China ($X) constituted the largest supplier of gear cutting, gear grinding or gear finishing machines to Nigeria, comprising 97% of total imports. The second position in the ranking was taken by the United Arab Emirates ($X), with less than 0.1% share of total imports.

From 2012 to 2021, the average annual rate of growth in terms of value from China stood at +25.9%.

Import Prices by Country

The average gear cutting machine import price stood at $X per unit in 2021, declining by -94.5% against the previous year. Overall, the import price saw a dramatic decrease. The most prominent rate of growth was recorded in 2016 an increase of 349%. Over the period under review, average import prices reached the peak figure at $X per unit in 2012; however, from 2013 to 2021, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was China ($X per unit), while the price for the United Arab Emirates stood at $X per unit.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (-14.3%).

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for gear cutting, gear grinding or gear finishing machines in the world?

The countries with the highest volumes of gear cutting machine consumption in 2021 were Switzerland, China and Japan, with a combined 63% share of global consumption. These countries were followed by Estonia, Mexico, Germany, the Netherlands, South Africa and the United States, which together accounted for a further 23%.

What are the largest producers of gear cutting, gear grinding or gear finishing machines in the world?

The countries with the highest volumes of gear cutting machine production in 2021 were Switzerland, China and Germany, together accounting for 70% of global production.

What are the leading suppliers of gear cutting, gear grinding or gear finishing machines to Nigeria?

In value terms, China constituted the largest supplier of gear cutting machine to Nigeria, comprising 80% of total imports. The second position in the ranking was occupied by India, with a 0.8% share of total imports.

What is the average export price for gear cutting, gear grinding or gear finishing machines in Nigeria?

The average gear cutting machine export price stood at $155 per unit in 2021, reducing by -16.2% against the previous year.

What is the average import price for gear cutting, gear grinding or gear finishing machines in Nigeria?

In 2021, the average gear cutting machine import price amounted to $840 per unit, jumping by 22% against the previous year.

This report provides an in-depth analysis of the gear cutting machine 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 28412430 - Gear cutting, gear grinding or gear finishing machines, for working metals, metal carbides or cermets (excluding planing, s lotting and broaching machines)

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 2012–2024
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
1. EXPORTS FROM 2012–2024
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 2024
2. Market Volume, In Physical Terms, 2012–2024
3. Market Value, 2012–2024
4. Per Capita Consumption In 2012-2024
5. Imports, In Physical Terms, By Country, 2012–2024
6. Imports, In Value Terms, By Country, 2012–2024
7. Import Prices, By Country Of Origin, 2012–2024
8. Exports, In Physical Terms, By Country, 2012–2024
9. Exports, In Value Terms, By Country, 2012–2024
10. Export Prices, By Country Of Destination, 2012–2024
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2024
2. Market Value, 2012–2024
3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2024
4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2024
5. Trade Balance, In Physical Terms, 2012-2024
6. Trade Balance, In Value Terms, 2012-2024
7. Per Capita Consumption, 2012-2024
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, 2012–2024
22. Production, In Value Terms, 2012–2024
23. Imports, In Physical Terms, 2012–2024
24. Imports, In Value Terms, 2012–2024
25. Imports, In Physical Terms, By Country, 2024
26. Imports, In Physical Terms, By Country, 2012–2024
27. Imports, In Value Terms, By Country, 2012–2024
28. Import Prices, By Country Of Origin, 2012–2024
29. Exports, In Physical Terms, 2012–2024
30. Exports, In Value Terms, 2012–2024
31. Exports, In Physical Terms, By Country, 2024
32. Exports, In Physical Terms, By Country, 2012–2024
33. Exports, In Value Terms, By Country, 2012–2024
34. Export Prices, By Country Of Destination, 2012–2024