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Report Nigeria - Hollow Drill Bars and Rods - Market Analysis, Forecast, Size, Trends and Insights for 499$
Report Update Feb 1, 2025

Nigeria - Hollow Drill Bars and Rods - Market Analysis, Forecast, Size, Trends and Insights

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Nigeria: Hollow Drill Bar Market 2025

Hollow Drill Bar Market Size in Nigeria

In 2021, after two years of growth, there was significant decline in the Nigerien hollow drill bar market, when its value decreased by -32.5% to $X. In general, consumption, however, enjoyed a significant increase. Over the period under review, the market hit record highs at $X in 2020, and then fell markedly in the following year.

Hollow Drill Bar Exports

Exports from Nigeria

In 2021, approx. X kg of hollow drill bars and rods were exported from Nigeria; growing by 20% on the year before. Over the period under review, exports, however, recorded a abrupt slump. The pace of growth was the most pronounced in 2013 with an increase of 2,785%. The exports peaked at X tons in 2015; however, from 2016 to 2021, the exports stood at a somewhat lower figure.

In value terms, hollow drill bar exports contracted modestly to $X in 2021. In general, exports, however, continue to indicate a perceptible decrease. The pace of growth was the most pronounced in 2013 when exports increased by 2,849%. Over the period under review, the exports reached the maximum at $X in 2015; however, from 2016 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Benin (X kg) was the main destination for hollow drill bar exports from Nigeria, accounting for a approx. 100% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of volume to Benin amounted to -8.2%.

In value terms, Benin ($X) also remains the key foreign market for hollow drill bars and rods exports from Nigeria.

From 2012 to 2021, the average annual growth rate of value to Benin stood at -3.5%.

Export Prices by Country

In 2021, the average hollow drill bar export price amounted to $X per ton, falling by -19.8% against the previous year. Overall, the export price, however, continues to indicate strong growth. The growth pace was the most rapid in 2015 an increase of 182%. The export price peaked at $X per ton in 2016; however, from 2017 to 2021, the export prices remained at a lower figure.

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

From 2012 to 2021, the rate of growth in terms of prices for Ghana amounted to +10,381.8% per year.

Hollow Drill Bar Imports

Imports into Nigeria

After two years of growth, supplies from abroad of hollow drill bars and rods decreased by -31% to X tons in 2021. Over the period under review, imports, however, saw significant growth. The most prominent rate of growth was recorded in 2019 with an increase of 1,589%. Over the period under review, imports hit record highs at X tons in 2020, and then contracted significantly in the following year.

In value terms, hollow drill bar imports contracted notably to $X in 2021. In general, imports showed a pronounced reduction. The most prominent rate of growth was recorded in 2019 when imports increased by 393% against the previous year. Imports peaked at $X in 2014; however, from 2015 to 2021, imports remained at a lower figure.

Imports by Country

China (X tons), India (X tons) and Sweden (X tons) were the main suppliers of hollow drill bar imports to Nigeria, with a combined 94% share of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by China (with a CAGR of +80.7%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest hollow drill bar suppliers to Nigeria were India ($X), Sweden ($X) and China ($X), with a combined 88% share of total imports.

Among the main suppliers, Sweden, with a CAGR of +21.0%, 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 hollow drill bar import price stood at $X per ton in 2021, declining by -23.6% against the previous year. In general, the import price showed a sharp contraction. The growth pace was the most rapid in 2013 when the average import price increased by 13%. As a result, import price reached the peak level of $X per ton. From 2014 to 2021, the average import prices remained at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the UK ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by India (-13.7%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

The country with the largest volume of hollow drill bar consumption was China, comprising approx. 30% of total volume. Moreover, hollow drill bar consumption in China exceeded the figures recorded by the second-largest consumer, India, fivefold. Japan ranked third in terms of total consumption with a 6.4% share.
The country with the largest volume of hollow drill bar production was China, comprising approx. 50% of total volume. Moreover, hollow drill bar production in China exceeded the figures recorded by the second-largest producer, Sweden, threefold. Japan ranked third in terms of total production with a 14% share.
In value terms, China constituted the largest supplier of hollow drill bar to Nigeria.
The average hollow drill bar export price stood at $4,096 per ton in 2016, remaining constant against the previous year.
In 2021, the average hollow drill bar import price amounted to $683 per ton, falling by -46.1% against the previous year.

This report provides an in-depth analysis of the hollow drill bar 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 24106700 - Hollow drill bars and rods

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:

  1. How to diversify your business and benefit from new market opportunities
  2. How to load your idle production capacity
  3. How to boost your sales on overseas markets
  4. How to increase your profit margins
  5. How to make your supply chain more sustainable
  6. How to reduce your production and supply chain costs
  7. How to outsource production to other countries
  8. 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. 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. 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. 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. 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. 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. 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. 7. PRODUCTION

    The Latest Trends and Insights into The Industry

    1. PRODUCTION VOLUME AND VALUE

  8. 8. IMPORTS

    The Largest Import Supplying Countries

    1. IMPORTS FROM 2012–2024
    2. IMPORTS BY COUNTRY
    3. IMPORT PRICES BY COUNTRY

  9. 9. EXPORTS

    The Largest Destinations for Exports

    1. EXPORTS FROM 2012–2024
    2. EXPORTS BY COUNTRY
    3. EXPORT PRICES BY COUNTRY

  10. 10. PROFILES OF MAJOR PRODUCERS

    The Largest Producers on The Market and Their Profiles

    This Chapter is Available Only for the Professional Edition PRO

  11. 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

  12. 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

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