Report Update Nov 1, 2024

Nigeria - Lathes for Removing Metal - Market Analysis, Forecast, Size, Trends and Insights

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Nigeria: Market for Lathes For Removing Metal 2024

Market Size for Lathes For Removing Metal in Nigeria

In 2021, the Nigerien lathe for removing metal market decreased by -70.5% to $X for the first time since 2017, thus ending a three-year rising trend. In general, consumption recorded a abrupt contraction. Lathe for removing metal consumption peaked at $X in 2012; however, from 2013 to 2021, consumption failed to regain momentum.

Exports of Lathes For Removing Metal

Exports from Nigeria

In 2013, the amount of lathes for removing metal exported from Nigeria stood at X units, remaining constant against the previous year's figure. Over the period under review, exports continue to indicate a relatively flat trend pattern. Over the period under review, the lafor removing metal exports hit record highs in 2013 and are likely to see gradual growth in the immediate term.

In value terms, lathe for removing metal exports totaled $X in 2013. Overall, exports recorded a relatively flat trend pattern. Over the period under review, the lafor removing metal exports reached the peak figure in 2013 and are expected to retain growth in the immediate term.

Exports by Country

From 2012 to 2021, the average annual growth rate of volume to No country was relatively modest.

In value terms, Benin ($X) remains the key foreign market for lathes for removing metal exports from Nigeria, comprising 100% of total exports. The second position in the ranking was taken by Ghana ($X), with a 0.2% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value to Benin stood at +21.2%.

Imports of Lathes For Removing Metal

Imports into Nigeria

After three years of growth, purchases abroad of lathes for removing metal decreased by -70.5% to X units in 2021. In general, imports continue to indicate a abrupt decline. The most prominent rate of growth was recorded in 2019 with an increase of 209%. Over the period under review, lafor removing metal imports attained the maximum at X units in 2012; however, from 2013 to 2021, imports remained at a lower figure.

In value terms, lathe for removing metal imports shrank significantly to $X in 2021. Overall, imports faced a abrupt decrease. The growth pace was the most rapid in 2018 when imports increased by 94%. Imports peaked at $X in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

Imports by Country

The UK (X units), China (X units) and Australia (X units) were the main suppliers of lathe for removing metal imports to Nigeria, together accounting for 50% of total imports. Hong Kong SAR, Israel, Slovakia, Taiwan (Chinese), Greece, Kenya, Switzerland, India and South Korea lagged somewhat behind, together comprising a further 32%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Israel (with a CAGR of +8.0%), while imports for the other leaders experienced more modest paces of growth.

In value terms, China ($X) constituted the largest supplier of lathes for removing metal to Nigeria, comprising 36% of total imports. The second position in the ranking was taken by the UK ($X), with a 17% share of total imports. It was followed by Australia, with an 8.3% share.

From 2012 to 2021, the average annual rate of growth in terms of value from China stood at -1.8%. The remaining supplying countries recorded the following average annual rates of imports growth: the UK (+4.6% per year) and Australia (+4.0% per year).

Import Prices by Country

The average lathe for removing metal import price stood at $X per unit in 2021, jumping by 20% against the previous year. Overall, the import price posted measured growth. The pace of growth was the most pronounced in 2016 when the average import price increased by 102%. Over the period under review, average import prices hit record highs at $X per unit in 2018; however, from 2019 to 2021, import prices failed to regain momentum.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Hong Kong SAR (+30.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for lathes for removing metal in the world?

South Africa constituted the country with the largest volume of lathe for removing metal consumption, accounting for 35% of total volume. Moreover, lathe for removing metal consumption in South Africa exceeded the figures recorded by the second-largest consumer, Japan, twofold. China ranked third in terms of total consumption with a 7.3% share.

What are the largest producers of lathes for removing metal in the world?

The countries with the highest volumes of lathe for removing metal production in 2021 were Japan, China and India, with a combined 64% share of global production.

What are the leading suppliers of lathes for removing metal to Nigeria?

In value terms, China constituted the largest supplier of lathe for removing metal to Nigeria, comprising 37% of total imports. The second position in the ranking was occupied by Switzerland, with a 17% share of total imports. It was followed by India, with a 14% share.

What are the leading importers of lathes for removing metal from Nigeria?

In value terms, Benin $456) remains the key foreign market for lathe for removing metal exports from Nigeria.

What is the average export price for lathes for removing metal in Nigeria?

In 2021, the average lathe for removing metal export price amounted to $504 per unit, with a decrease of -35.4% against the previous year.

What is the average import price for lathes for removing metal in Nigeria?

The average lathe for removing metal import price stood at $14,403 per unit in 2021, falling by -12.4% against the previous year.

This report provides an in-depth analysis of the market for lathe for removing metal 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 28412123 - Numerically controlled horizontal lathes, turning centres, for removing metal
Prodcom 28412127 - Numerically controlled horizontal lathes, automatic lathes, for removing metal (excluding turning centres)
Prodcom 28412129 - Numerically controlled horizontal lathes, for removing metal (excluding turning centres, automatic lathes)
Prodcom 28412140 - Non-numerically controlled horizontal lathes, for removing metal
Prodcom 28412160 - Lathes, including turning centres, for removing metal (excluding horizontal lathes)

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