Report Update Nov 1, 2024

Nigeria - Hay-Making Machinery - Market Analysis, Forecast, Size, Trends and Insights

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Nigeria: Hay-Making Machinery Market 2024

Hay-Making Machinery Market Size in Nigeria

In 2021, the Nigerien hay-making machinery market decreased by -8.8% to $X for the first time since 2018, thus ending a two-year rising trend. Over the period under review, consumption, however, saw a strong increase. Over the period under review, the market reached the maximum level at $X in 2020, and then declined in the following year.

Hay-Making Machinery Production in Nigeria

In value terms, hay-making machinery production contracted to $X in 2021 estimated in export price. Over the period under review, production, however, saw a strong increase. The growth pace was the most rapid in 2015 with an increase of 69% against the previous year. Hay-making machinery production peaked at $X in 2020, and then declined in the following year.

Hay-Making Machinery Exports

Exports from Nigeria

In 2020, approx. X units of hay-making machinery were exported from Nigeria; approximately mirroring the previous year's figure. Overall, exports saw a relatively flat trend pattern. The smallest decline of 99.9% was in 2014. The exports peaked in 2020 and are likely to see gradual growth in the immediate term.

In value terms, hay-making machinery exports amounted to $X in 2020. Over the period under review, exports saw a buoyant increase. The smallest decline of 99.9% was in 2019. The exports peaked in 2020 and are expected to retain growth in the immediate term.

Exports by Country

Cote d'Ivoire (X units) was the main destination for hay-making machinery exports from Nigeria, accounting for a approx. 100% share of total exports.

From 2013 to 2020, the average annual rate of growth in terms of volume to Cote d'Ivoire was relatively modest.

From 2013 to 2020, the average annual rate of growth in terms of value to Cote d'Ivoire was relatively modest.

Export Prices by Country

In 2020, the average hay-making machinery export price amounted to $X per unit, remaining relatively unchanged against the previous year. Over the period under review, the export price showed a resilient expansion. The growth pace was the most rapid in 2014 a decrease of 99.9% against the previous year. The export price peaked in 2020 and is likely to continue growth in the near future.

As there is only one major export destination, the average price level is determined by prices for Cote d'Ivoire.

From 2013 to 2020, the rate of growth in terms of prices for Cote d'Ivoire amounted to 0.0% per year.

Hay-Making Machinery Imports

Imports into Nigeria

In 2021, approx. X units of hay-making machinery were imported into Nigeria; falling by -52% compared with the previous year's figure. In general, imports, however, posted a significant increase. The pace of growth appeared the most rapid in 2014 when imports increased by 533% against the previous year. Over the period under review, imports hit record highs at X units in 2020, and then fell significantly in the following year.

In value terms, hay-making machinery imports contracted modestly to $X in 2021. Over the period under review, imports, however, recorded significant growth. The pace of growth appeared the most rapid in 2014 when imports increased by 887% against the previous year. As a result, imports attained the peak of $X. From 2015 to 2021, the growth of imports remained at a lower figure.

Imports by Country

In 2021, India (X units) constituted the largest supplier of hay-making machinery to Nigeria, with a 58% share of total imports. Moreover, hay-making machinery imports from India exceeded the figures recorded by the second-largest supplier, Germany (X units), fourfold. The third position in this ranking was taken by South Africa (X units), with an 8.3% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from India amounted to +32.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+41.4% per year) and South Africa (0.0% per year).

In value terms, India ($X) constituted the largest supplier of hay-making machinery to Nigeria, comprising 61% of total imports. The second position in the ranking was taken by the UK ($X), with a 23% share of total imports. It was followed by China, with a 4.5% share.

From 2012 to 2021, the average annual rate of growth in terms of value from India totaled +55.5%. The remaining supplying countries recorded the following average annual rates of imports growth: the UK (+90.4% per year) and China (+3.3% per year).

Import Prices by Country

In 2021, the average hay-making machinery import price amounted to $X per unit, growing by 98% against the previous year. In general, import price indicated a notable increase from 2012 to 2021: its price increased at an average annual rate of +2.3% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

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 the United States ($X per unit), while the price for South Africa ($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 UK (+31.0%), 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 hay-making machinery in the world?

The countries with the highest volumes of in 2021 were China, the United States and India, with a combined 43% share of global consumption. Pakistan, Russia, Nigeria, Brazil, Indonesia, France, Ethiopia, Canada, Germany and Spain lagged somewhat behind, together accounting for a further 26%.

What are the largest producers of hay-making machinery in the world?

China remains the largest hay-making machinery producing country worldwide, comprising approx. 22% of total volume. Moreover, hay-making machinery production in China exceeded the figures recorded by the second-largest producer, the United States, twofold. The third position in this ranking was occupied by India, with an 8.7% share.

What are the leading suppliers of hay-making machinery to Nigeria?

In value terms, China constituted the largest supplier of hay-making machinery to Nigeria, comprising 58% of total imports. The second position in the ranking was occupied by the UK, with a 25% share of total imports. It was followed by Germany, with a 9.3% share.

What is the average export price for hay-making machinery in Nigeria?

The average hay-making machinery export price stood at $6,145 per unit in 2013, approximately equating the previous year.

What is the average import price for hay-making machinery in Nigeria?

In 2021, the average hay-making machinery import price amounted to $8,527 per unit, surging by 24% against the previous year.

This report provides an in-depth analysis of the hay-making machinery 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 28305200 - Hay-making machinery

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