Nigeria - Jacks and Hoists for Raising Vehicles - Market Analysis, Forecast, Size, Trends and Insights
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View PricingNigeria: Jacks And Hoists Market 2024
Jacks And Hoists Market Size in Nigeria
In 2022, the Nigerien jacks and hoists market decreased by -4.3% to $X, falling for the second year in a row after two years of growth. Overall, consumption showed a perceptible downturn. Jacks and hoists consumption peaked at $X in 2012; however, from 2013 to 2022, consumption failed to regain momentum.
Jacks And Hoists Production in Nigeria
In value terms, jacks and hoists production dropped modestly to $X in 2022 estimated in export price. Over the period under review, production saw a noticeable setback. The growth pace was the most rapid in 2016 when the production volume increased by 322%. Over the period under review, production attained the peak level at $X in 2012; however, from 2013 to 2022, production failed to regain momentum.
Jacks And Hoists Exports
Exports from Nigeria
In 2022, jacks and hoists exports from Nigeria reduced markedly to X units, declining by -42.2% on 2021 figures. Overall, exports continue to indicate a abrupt descent. The most prominent rate of growth was recorded in 2016 with an increase of 722% against the previous year. The exports peaked at X units in 2018; however, from 2019 to 2022, the exports stood at a somewhat lower figure.
In value terms, jacks and hoists exports fell to $X in 2022. Over the period under review, exports recorded a deep reduction. The most prominent rate of growth was recorded in 2018 when exports increased by 465% against the previous year. The exports peaked at $X in 2014; however, from 2015 to 2022, the exports remained at a lower figure.
Exports by Country
Cote d'Ivoire (X units), Angola (X units) and the UK (X units) were the main destinations of jacks and hoists exports from Nigeria, with a combined 81% share of total exports.
From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by the UK (with a CAGR of +24.6%), while the other leaders experienced more modest paces of growth.
In value terms, Cote d'Ivoire ($X), Angola ($X) and the UK ($X) constituted the largest markets for jacks and hoists exported from Nigeria worldwide, with a combined 81% share of total exports. India, Burkina Faso, Ghana and Benin lagged somewhat behind, together accounting for a further 19%.
In terms of the main countries of destination, Burkina Faso, with a CAGR of +23.5%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.
Export Prices by Country
In 2022, the average jacks and hoists export price amounted to $X per unit, surging by 51% against the previous year. Over the period under review, the export price showed a buoyant increase. The pace of growth was the most pronounced in 2013 an increase of 210%. The export price peaked at $X per unit in 2014; however, from 2015 to 2022, the export prices failed to regain momentum.
There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was India ($X per unit), while the average price for exports to Benin ($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 Burkina Faso (+10.7%), while the prices for the other major destinations experienced mixed trend patterns.
Jacks And Hoists Imports
Imports into Nigeria
In 2022, purchases abroad of jacks and hoists for raising vehicles decreased by -91.4% to X units, falling for the second consecutive year after three years of growth. Over the period under review, imports saw a abrupt slump. The pace of growth appeared the most rapid in 2013 when imports increased by 1,713%. Imports peaked at X units in 2020; however, from 2021 to 2022, imports stood at a somewhat lower figure.
In value terms, jacks and hoists imports dropped notably to $X in 2022. In general, imports showed a deep setback. The growth pace was the most rapid in 2013 with an increase of 383%. As a result, imports attained the peak of $X. From 2014 to 2022, the growth of imports remained at a lower figure.
Imports by Country
Japan (X units), China (X units) and Malaysia (X units) were the main suppliers of jacks and hoists imports to Nigeria, with a combined 80% share of total imports. The United Arab Emirates, Antigua and Barbuda and New Zealand lagged somewhat behind, together accounting for a further 13%.
From 2012 to 2022, the biggest increases were recorded for Antigua and Barbuda (with a CAGR of +12.9%), while purchases for the other leaders experienced more modest paces of growth.
In value terms, the United Arab Emirates ($X) constituted the largest supplier of jacks and hoists for raising vehicles to Nigeria, comprising 35% of total imports. The second position in the ranking was held by Antigua and Barbuda ($X), with an 11% share of total imports. It was followed by China, with a 7.8% share.
From 2012 to 2022, the average annual growth rate of value from the United Arab Emirates stood at -6.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Antigua and Barbuda (+2.2% per year) and China (-21.7% per year).
Import Prices by Country
In 2022, the average jacks and hoists import price amounted to $X per unit, jumping by 124% against the previous year. Overall, the import price, however, saw a abrupt downturn. Over the period under review, average import prices reached the peak figure at $X per unit in 2012; however, from 2013 to 2022, import prices failed to regain momentum.
Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was New Zealand ($X per unit), while the price for Japan ($X per unit) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by New Zealand (-4.1%), while the prices for the other major suppliers experienced a decline.
Source: IndexBox Platform
Frequently Asked Questions (FAQ) :
This report provides an in-depth analysis of the jacks and hoists 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 28221370 - Jacks and hoists of a kind used for raising vehicles (excluding built-in jacking systems of a kind used in garages, hydraulic jacks and hoists)
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.
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1. INTRODUCTION
Making Data-Driven Decisions to Grow Your Business
- REPORT DESCRIPTION
- RESEARCH METHODOLOGY AND AI PLATFORM
- DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
- GLOSSARY AND SPECIFIC TERMS
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2. EXECUTIVE SUMMARY
A Quick Overview of Market Performance
- KEY FINDINGS
- MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
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3. MARKET OVERVIEW
Understanding the Current State of The Market and Its Prospects
- MARKET SIZE
- MARKET STRUCTURE
- TRADE BALANCE
- PER CAPITA CONSUMPTION
- MARKET FORECAST TO 2030
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4. MOST PROMISING PRODUCT
Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO- TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
- BEST-SELLING PRODUCTS
- MOST CONSUMED PRODUCT
- MOST TRADED PRODUCT
- MOST PROFITABLE PRODUCT FOR EXPORT
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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- TOP COUNTRIES TO SOURCE YOUR PRODUCT
- TOP PRODUCING COUNTRIES
- TOP EXPORTING COUNTRIES
- LOW-COST EXPORTING COUNTRIES
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6. MOST PROMISING OVERSEAS MARKETS
Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO- TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
- TOP CONSUMING MARKETS
- UNSATURATED MARKETS
- TOP IMPORTING MARKETS
- MOST PROFITABLE MARKETS
7. PRODUCTION
The Latest Trends and Insights into The Industry
- PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
- IMPORTS FROM 2012–2023
- IMPORTS BY COUNTRY
- IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
- EXPORTS FROM 2012–2023
- EXPORTS BY COUNTRY
- EXPORT PRICES BY COUNTRY
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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
- Key Findings In 2023
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Per Capita Consumption In 2012-2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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LIST OF FIGURES
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
- Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
- Trade Balance, In Physical Terms, 2012-2023
- Trade Balance, In Value Terms, 2012-2023
- Per Capita Consumption, 2012-2023
- Market Volume Forecast to 2030
- Market Value Forecast to 2030
- Products: Market Size And Growth, By Type
- Products: Average Per Capita Consumption, By Type
- Products: Exports And Growth, By Type
- Products: Export Prices And Growth, By Type
- Production Volume And Growth
- Exports And Growth
- Export Prices And Growth
- Market Size And Growth
- Per Capita Consumption
- Imports And Growth
- Import Prices
- Production, In Physical Terms, 2012–2023
- Production, In Value Terms, 2012–2023
- Imports, In Physical Terms, 2012–2023
- Imports, In Value Terms, 2012–2023
- Imports, In Physical Terms, By Country, 2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, 2012–2023
- Exports, In Value Terms, 2012–2023
- Exports, In Physical Terms, By Country, 2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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