Nigeria: Market for In-Hand Motor Grinders, Sanders And Planers 2024

Market Size for In-Hand Motor Grinders, Sanders And Planers in Nigeria

The Nigerien market for in-hand motor grinders, sanders and planers fell dramatically to $X in 2021, shrinking by -37.4% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Overall, consumption showed a perceptible slump. Over the period under review, the market hit record highs at $X in 2018; however, from 2019 to 2021, consumption remained at a lower figure.

Exports of In-Hand Motor Grinders, Sanders And Planers

Exports from Nigeria

In 2021, exports of in-hand motor grinders, sanders and planers from Nigeria contracted sharply to X units, dropping by -28.6% against the previous year's figure. Overall, exports continue to indicate a sharp shrinkage. The most prominent rate of growth was recorded in 2016 when exports increased by 189% against the previous year. The exports peaked at X units in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

In value terms, exports of in-hand motor grinders, sanders and planers declined markedly to $X in 2021. Over the period under review, exports saw a significant contraction. The growth pace was the most rapid in 2016 with an increase of 49% against the previous year. The exports peaked at $X in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

Exports by Country

Germany (X units), Ghana (X units) and Cote d'Ivoire (X units) were the main destinations of exports of in-hand motor grinders, sanders and planers from Nigeria, with a combined 70% share of total exports. Moreover, exports of in-hand motor grinders, sanders and planers in Germany exceeded the figures recorded by the second-largest exporter, Ghana, twofold.

From 2012 to 2021, the biggest increases were in Germany (with a CAGR of +21.9%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for electromechanical tools for working in the hand, with self-contained electric motor exported from Nigeria were Germany ($X), Cote d'Ivoire ($X) and Benin ($X), with a combined 66% share of total exports.

Germany, with a CAGR of +104.9%, recorded the highest growth rate of the value of exports, in terms of 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 export price for in-hand motor grinders, sanders and planers stood at $X per unit in 2021, growing by 3.8% against the previous year. In general, the export price recorded a buoyant expansion. The most prominent rate of growth was recorded in 2014 when the average export price increased by 260% against the previous year. The export price peaked at $X per unit in 2015; however, from 2016 to 2021, the export prices stood at a somewhat lower figure.

Prices varied noticeably country of destination: the country with the highest price was Cote d'Ivoire ($X per unit), while the average price for exports to South Africa ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to China (+76.8%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of In-Hand Motor Grinders, Sanders And Planers

Imports into Nigeria

In 2021, overseas purchases of in-hand motor grinders, sanders and planers decreased by -40% to X units, falling for the third year in a row after four years of growth. Overall, imports showed a noticeable reduction. The most prominent rate of growth was recorded in 2015 with an increase of 87%. Imports peaked at X units in 2018; however, from 2019 to 2021, imports failed to regain momentum.

In value terms, imports of in-hand motor grinders, sanders and planers fell significantly to $X in 2021. In general, imports recorded a perceptible decrease. The most prominent rate of growth was recorded in 2017 when imports increased by 71% against the previous year. Imports peaked at $X in 2018; however, from 2019 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, China (X units) constituted the largest electromechanical tools for working in the hand, with self-contained electric motor supplier to Nigeria, accounting for a 79% share of total imports. Moreover, imports of in-hand motor grinders, sanders and planers from China exceeded the figures recorded by the second-largest supplier, the Netherlands (X units), more than tenfold. Germany (X units) ranked third in terms of total imports with a 3.2% share.

From 2012 to 2021, the average annual growth rate of volume from China stood at -5.6%. The remaining supplying countries recorded the following average annual rates of imports growth: the Netherlands (+29.5% per year) and Germany (+20.4% per year).

In value terms, China ($X) constituted the largest supplier of electromechanical tools for working in the hand, with self-contained electric motor to Nigeria, comprising 79% of total imports. The second position in the ranking was taken by the Netherlands ($X), with a 4.8% share of total imports. It was followed by Germany, with a 3.2% share.

From 2012 to 2021, the average annual rate of growth in terms of value from China amounted to -4.8%. The remaining supplying countries recorded the following average annual rates of imports growth: the Netherlands (+30.6% per year) and Germany (+21.4% per year).

Import Prices by Country

In 2021, the average import price for in-hand motor grinders, sanders and planers amounted to $X per unit, picking up by 4.9% against the previous year. Overall, the import price showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2020 when the average import price increased by 9.4% against the previous year. Over the period under review, average import prices attained the peak figure at $X per unit in 2013; however, from 2014 to 2021, import prices stood at a somewhat lower figure.

Average prices varied noticeably amongst the major supplying countries. In 2021, the countries with the highest prices were Germany ($X per unit) and the Netherlands ($X per unit), while the price for France ($X per unit) and China ($X per unit) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Germany (+0.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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