Nigeria: Market for Lead-Acid Accumulators (Excluding Starter Batteries) 2025

Market Size for Lead-Acid Accumulators (Excluding Starter Batteries) in Nigeria

In 2022, the Nigerien market for lead-acid accumulators (excluding starter batteries) decreased by -25.5% to $X, falling for the second year in a row after three years of growth. Over the period under review, consumption, however, enjoyed slight growth. Lead-acid accumulators (excluding starter batteries) consumption peaked at $X in 2020; however, from 2021 to 2022, consumption remained at a lower figure.

Exports of Lead-Acid Accumulators (Excluding Starter Batteries)

Exports from Nigeria

In 2022, exports of lead-acid accumulators (excluding starter batteries) from Nigeria soared to X units, rising by 94% on 2021 figures. Overall, exports posted a notable expansion. The growth pace was the most rapid in 2015 when exports increased by 1,080%. The exports peaked at X units in 2020; however, from 2021 to 2022, the exports stood at a somewhat lower figure.

In value terms, lead-acid accumulators (excluding starter batteries) exports surged to $X in 2022. In general, exports saw slight growth. The most prominent rate of growth was recorded in 2015 when exports increased by 1,063%. Over the period under review, the exports hit record highs at $X in 2020; however, from 2021 to 2022, the exports remained at a lower figure.

Exports by Country

Benin (X units) was the main destination for lead-acid accumulators (excluding starter batteries) exports from Nigeria, accounting for a 50% share of total exports. Moreover, lead-acid accumulators (excluding starter batteries) exports to Benin exceeded the volume sent to the second major destination, Togo (X units), twofold. The third position in this ranking was taken by France (X units), with a 9.9% share.

From 2012 to 2022, the average annual growth rate of volume to Benin stood at +49.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Togo (0.0% per year) and France (0.0% per year).

In value terms, Benin ($X) remains the key foreign market for lead-acid accumulators (excluding starter batteries) exports from Nigeria, comprising 43% of total exports. The second position in the ranking was taken by Togo ($X), with a 20% share of total exports. It was followed by Ghana, with a 9.2% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Benin totaled +53.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Togo (0.0% per year) and Ghana (+14.3% per year).

Export Prices by Country

In 2022, the average export price for lead-acid accumulators (excluding starter batteries) amounted to $X per unit, falling by -4.4% against the previous year. Overall, the export price saw a slight reduction. The pace of growth was the most pronounced in 2016 when the average export price increased by 42% against the previous year. As a result, the export price attained the peak level of $X per unit. From 2017 to 2022, the average export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was India ($X per unit), while the average price for exports to France ($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 India (+28.2%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Lead-Acid Accumulators (Excluding Starter Batteries)

Imports into Nigeria

In 2022, purchases abroad of lead-acid accumulators (excluding starter batteries) decreased by -25.5% to X units, falling for the second year in a row after three years of growth. In general, imports, however, recorded a slight expansion. The pace of growth appeared the most rapid in 2016 with an increase of 101%. Over the period under review, imports attained the maximum at X units in 2020; however, from 2021 to 2022, imports remained at a lower figure.

In value terms, lead-acid accumulators (excluding starter batteries) imports declined remarkably to $X in 2022. Over the period under review, imports, however, continue to indicate a slight increase. The most prominent rate of growth was recorded in 2018 when imports increased by 150%. Imports peaked at $X in 2020; however, from 2021 to 2022, imports remained at a lower figure.

Imports by Country

China (X units), India (X units) and Bulgaria (X units) were the main suppliers of lead-acid accumulators (excluding starter batteries) imports to Nigeria, together comprising 93% of total imports.

From 2012 to 2022, the biggest increases were recorded for India (with a CAGR of +19.8%), while purchases for the other leaders experienced mixed trend patterns.

In value terms, the largest lead-acid accumulators (excluding starter batteries) suppliers to Nigeria were India ($X), China ($X) and Bulgaria ($X), together comprising 93% of total imports.

In terms of the main suppliers, India, with a CAGR of +29.8%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced mixed trend patterns.

Import Prices by Country

The average import price for lead-acid accumulators (excluding starter batteries) stood at $X per unit in 2022, surging by 12% against the previous year. Over the period under review, the import price saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2018 an increase of 38%. As a result, import price reached the peak level of $X per unit. From 2019 to 2022, 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 India ($X per unit), while the price for China ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Lebanon (+10.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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