Report Update Nov 1, 2024

Nigeria - Heat Exchange Units - Market Analysis, Forecast, Size, Trends and Insights

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Nigeria: Heat Exchange Unit Market 2024

Heat Exchange Unit Exports

Exports from Nigeria

In 2022, heat exchange unit exports from Nigeria surged to X units, growing by 408% against 2021 figures. Overall, exports, however, recorded a deep reduction. The growth pace was the most rapid in 2016 when exports increased by 2,978%. The exports peaked at X units in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

In value terms, heat exchange unit exports surged to $X in 2022. Over the period under review, exports, however, saw a abrupt setback. The most prominent rate of growth was recorded in 2016 with an increase of 2,780%. Over the period under review, the exports hit record highs at $X in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

Exports by Country

The UK (X units) was the main destination for heat exchange unit exports from Nigeria, with a 57% share of total exports. Moreover, heat exchange unit exports to the UK exceeded the volume sent to the second major destination, France (X units), fourfold. South Africa (X units) ranked third in terms of total exports with a 13% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to the UK totaled +6.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: France (-18.6% per year) and South Africa (0.0% per year).

In value terms, the UK ($X) remains the key foreign market for heat exchange units exports from Nigeria, comprising 53% of total exports. The second position in the ranking was taken by South Africa ($X), with a 15% share of total exports. It was followed by Cote d'Ivoire, with a 10% share.

From 2012 to 2022, the average annual growth rate of value to the UK totaled +3.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: South Africa (0.0% per year) and Cote d'Ivoire (+36.7% per year).

Export Prices by Country

In 2022, the average heat exchange unit export price amounted to $X per unit, shrinking by -2.7% against the previous year. Overall, the export price recorded a perceptible slump. The most prominent rate of growth was recorded in 2018 when the average export price increased by 66%. Over the period under review, the average export prices attained the maximum at $X per unit in 2012; however, from 2013 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Cote d'Ivoire ($X per unit), while the average price for exports to Germany ($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 France (+1.5%), while the prices for the other major destinations experienced a decline.

Heat Exchange Unit Imports

Imports into Nigeria

In 2022, supplies from abroad of heat exchange units decreased by -22.9% to X units, falling for the third year in a row after two years of growth. Over the period under review, imports, however, continue to indicate a strong increase. The growth pace was the most rapid in 2019 with an increase of 836%. As a result, imports reached the peak of X units. From 2020 to 2022, the growth of imports failed to regain momentum.

In value terms, heat exchange unit imports fell significantly to $X in 2022. Overall, imports, however, enjoyed a notable expansion. The pace of growth was the most pronounced in 2019 with an increase of 466% against the previous year. As a result, imports reached the peak of $X. From 2020 to 2022, the growth of imports remained at a lower figure.

Imports by Country

China (X units), the United Arab Emirates (X units) and India (X units) were the main suppliers of heat exchange unit imports to Nigeria, with a combined 65% share of total imports. Turkey, Lebanon, Italy, Cote d'Ivoire, Malaysia, the United States, France and Belgium lagged somewhat behind, together accounting for a further 27%.

From 2012 to 2022, the biggest increases were recorded for Turkey (with a CAGR of +105.7%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, India ($X), the United Arab Emirates ($X) and Malaysia ($X) constituted the largest heat exchange unit suppliers to Nigeria, with a combined 52% share of total imports. These countries were followed by China, Italy, Turkey, Lebanon, the United States, Cote d'Ivoire, Belgium and France, which together accounted for a further 25%.

Among the main suppliers, Lebanon, with a CAGR of +74.0%, 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 heat exchange unit import price stood at $X per unit in 2022, waning by -4.4% against the previous year. Overall, the import price continues to indicate a abrupt decline. The pace of growth appeared the most rapid in 2013 when the average import price increased by 5.7%. As a result, import price attained the peak level of $X per unit. From 2014 to 2022, the average import prices remained 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 Belgium ($X per unit), while the price for Cote d'Ivoire ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Belgium (+2.9%), 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 heat exchange units in the world?

The countries with the highest volumes of in 2021 were China, the United States and Turkey, together accounting for 45% of global consumption.

What are the largest producers of heat exchange units in the world?

China constituted the country with the largest volume of heat exchange unit production, comprising approx. 25% of total volume. Moreover, heat exchange unit production in China exceeded the figures recorded by the second-largest producer, India, threefold. The third position in this ranking was occupied by Italy, with an 8.3% share.

What are the leading suppliers of heat exchange units to Nigeria?

In value terms, India constituted the largest supplier of heat exchange unit to Nigeria, comprising 40% of total imports. The second position in the ranking was occupied by Malaysia, with a 14% share of total imports. It was followed by the United States, with a 13% share.

What are the leading importers of heat exchange units from Nigeria?

In value terms, the United States and the Netherlands appeared to be the largest markets for heat exchange unit exported from Nigeria worldwide.

What is the average export price for heat exchange units in Nigeria?

In 2021, the average heat exchange unit export price amounted to $298 per unit, jumping by 105% against the previous year.

What is the average import price for heat exchange units in Nigeria?

The average heat exchange unit import price stood at $204 per unit in 2021, with a decrease of -31.6% against the previous year.

This report provides an in-depth analysis of the heat exchange unit 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 28251130 - Heat exchange units

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