Report Nigeria - Gearboxes and Speed Changers for Machinery and Land or Sea Vehicles excluding Gears and Gearing - Market Analysis, Forecast, Size, Trends and Insights for 499$

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Nigeria - Gearboxes and Speed Changers for Machinery and Land or Sea Vehicles excluding Gears and Gearing - Market Analysis, Forecast, Size, Trends and Insights

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Nigeria: Market for Gearboxes and Speed Changers 2024

Market Size for Gearboxes and Speed Changers in Nigeria

For the fifth year in a row, the Nigerien gearboxes and speed changers market recorded growth in sales value, which increased by X% to $X in 2022. In general, consumption posted prominent growth. Gearboxes and speed changers consumption peaked in 2022 and is likely to see steady growth in the near future.

Exports of Gearboxes and Speed Changers

Exports from Nigeria

In 2022, the amount of gearboxes and speed changers exported from Nigeria surged to X tons, picking up by X% on 2021 figures. In general, exports posted a buoyant increase. The pace of growth was the most pronounced in 2014 when exports increased by X% against the previous year. Over the period under review, the exports attained the maximum in 2022 and are likely to see gradual growth in the immediate term.

In value terms, gearboxes and speed changers exports surged to $X in 2022. Overall, exports saw a prominent increase. The pace of growth appeared the most rapid in 2014 with an increase of X%. The exports peaked at $X in 2020; however, from 2021 to 2022, the exports remained at a lower figure.

Exports by Country

The United States (X tons) was the main destination for gearboxes and speed changers exports from Nigeria, accounting for a X% share of total exports. Moreover, gearboxes and speed changers exports to the United States exceeded the volume sent to the second major destination, Germany (X tons), threefold. Italy (X tons) ranked third in terms of total exports with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to the United States amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (X% per year) and Italy (X% per year).

In value terms, the United States ($X), Italy ($X) and Germany ($X) constituted the largest markets for gearboxes and speed changers exported from Nigeria worldwide, together comprising X% of total exports. These countries were followed by Zimbabwe, which accounted for a further X%.

Zimbabwe, with a CAGR of X%, recorded the highest rates of growth with regard to the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average gearboxes and speed changers export price stood at $X per ton in 2022, growing by X% against the previous year. Over the period under review, the export price saw a tangible expansion. The pace of growth appeared the most rapid in 2019 when the average export price increased by X%. As a result, the export price reached the peak level of $X per ton. From 2020 to 2022, the average export prices remained at a somewhat lower figure.

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

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

Imports of Gearboxes and Speed Changers

Imports into Nigeria

In 2022, imports of gearboxes and speed changers into Nigeria soared to X tons, rising by X% compared with the previous year. In general, imports posted significant growth. The most prominent rate of growth was recorded in 2018 with an increase of X%. Imports peaked in 2022 and are expected to retain growth in years to come.

In value terms, gearboxes and speed changers imports surged to $X in 2022. Over the period under review, imports continue to indicate a resilient expansion. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2022, the United Arab Emirates (X tons) was the main gearboxes and speed changers supplier to Nigeria, accounting for a approx. X% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of volume from the United Arab Emirates amounted to X%.

In value terms, the United Arab Emirates ($X) constituted the largest supplier of gearboxes and speed changers to Nigeria.

From 2012 to 2022, the average annual rate of growth in terms of value from the United Arab Emirates amounted to X%.

Import Prices by Country

In 2022, the average gearboxes and speed changers import price amounted to $X per ton, growing by X% against the previous year. In general, the import price, however, continues to indicate a abrupt shrinkage. Over the period under review, average import prices reached the maximum at $X per ton in 2016; however, from 2017 to 2022, import prices failed to regain momentum.

As there is only one major supplying country, the average price level is determined by prices for the United Arab Emirates.

From 2012 to 2022, the rate of growth in terms of prices for the United States amounted to X% per year.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for gearboxes and speed changers in the world?

China remains the largest gearboxes and speed changers consuming country worldwide, accounting for 27% of total volume. Moreover, gearboxes and speed changers 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 8.7% share.

What are the largest producers of gearboxes and speed changers in the world?

The country with the largest volume of gearboxes and speed changers production was China, accounting for 32% of total volume. Moreover, gearboxes and speed changers production in China exceeded the figures recorded by the second-largest producer, India, threefold. The third position in this ranking was occupied by Germany, with a 6.9% share.

What are the leading suppliers of gearboxes and speed changers to Nigeria?

In value terms, the largest gearboxes and speed changers suppliers to Nigeria were China, Italy and the United States, with a combined 47% share of total imports. Germany, India, Malaysia and the United Arab Emirates lagged somewhat behind, together accounting for a further 22%.

What are the leading importers of gearboxes and speed changers from Nigeria?

In value terms, Italy remains the key foreign market for gearboxes and speed changers exports from Nigeria, comprising 55% of total exports. The second position in the ranking was occupied by Cameroon, with an 8.1% share of total exports. It was followed by Germany, with a 6.3% share.

What is the average export price for gearboxes and speed changers in Nigeria?

In 2021, the average gearboxes and speed changers export price amounted to $39,180 per ton, surging by 28% against the previous year.

What is the average import price for gearboxes and speed changers in Nigeria?

The average gearboxes and speed changers import price stood at $6,861 per ton in 2021, waning by -22.7% against the previous year.

This report provides an in-depth analysis of the market for gearboxes and speed changers 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 28152432 - Gear boxes for stationary equipment, spur and helical gear boxes
Prodcom 28152433 - Gear boxes ..., bevel and bevel/spur and helical gear boxes
Prodcom 28152434 - Gear boxes ..., worm gear boxes
Prodcom 28152440 - Other gear boxes
Prodcom 28152450 - Gearboxes and other speed changers for machinery and land/sea vehicles excluding gears and gearing
Prodcom 28152473 - Ball or roller screws
Prodcom 28152475 - Other transmission elements (excluding gears and gearing, b all or roller screws, gearboxes and other speed changers)

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