Report Update Nov 1, 2024

Nigeria - Machine Tools for Working Metal - Market Analysis, Forecast, Size, Trends and Insights

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Nigeria: Market for Machine Tools For Working Metal 2024

Market Size for Machine Tools For Working Metal in Nigeria

The Nigerien machine-tool for working metal market amounted to $X in 2021, picking up by 14% 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). Over the period under review, consumption enjoyed a buoyant increase. Machine-tool for working metal consumption peaked in 2021 and is likely to continue growth in years to come.

Exports of Machine Tools For Working Metal

Exports from Nigeria

In 2021, shipments abroad of machine tools for working metal increased by 110% to X units, rising for the fourth year in a row after two years of decline. Overall, exports recorded a significant increase. The pace of growth was the most pronounced in 2015 with an increase of 11,125% against the previous year. As a result, the exports reached the peak of X units. From 2016 to 2021, the growth of the exports remained at a somewhat lower figure.

In value terms, machine-tool for working metal exports expanded rapidly to $X in 2021. Over the period under review, exports showed a significant increase. The growth pace was the most rapid in 2015 with an increase of 6,243% against the previous year. As a result, the exports reached the peak of $X. From 2016 to 2021, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Niger (X units) was the main destination for machine-tool for working metal exports from Nigeria, with a approx. 100% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of volume to Niger stood at -1.9%.

In value terms, Niger ($X) emerged as the key foreign market for machine tools for working metal exports from Nigeria.

From 2012 to 2021, the average annual rate of growth in terms of value to Niger amounted to +124.3%.

Export Prices by Country

The average machine-tool for working metal export price stood at $X per unit in 2021, declining by -45.5% against the previous year. In general, the export price, however, saw a significant expansion. The pace of growth appeared the most rapid in 2014 an increase of 165%. Over the period under review, the average export prices hit record highs at $X per unit in 2020, and then contracted sharply in the following year.

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

From 2012 to 2021, the rate of growth in terms of prices for Tanzania amounted to +75.2% per year.

Imports of Machine Tools For Working Metal

Imports into Nigeria

For the third consecutive year, Nigeria recorded growth in overseas purchases of machine tools for working metal, which increased by 16% to X units in 2021. Overall, imports saw a resilient expansion. The most prominent rate of growth was recorded in 2019 when imports increased by 652% against the previous year. Over the period under review, imports attained the peak figure in 2021 and are expected to retain growth in the immediate term.

In value terms, machine-tool for working metal imports amounted to $X in 2021. Over the period under review, imports enjoyed a resilient increase. The most prominent rate of growth was recorded in 2019 when imports increased by 348%. Imports peaked in 2021 and are likely to see gradual growth in the near future.

Imports by Country

China (X units), India (X units) and South Korea (X units) were the main suppliers of machine-tool for working metal imports to Nigeria, with a combined 75% 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 +31.4%), while imports for the other leaders experienced more modest paces of growth.

In value terms, China ($X) constituted the largest supplier of machine tools for working metal to Nigeria, comprising 70% of total imports. The second position in the ranking was held by India ($X), with an 8% share of total imports. It was followed by Italy, with a 2.5% share.

From 2012 to 2021, the average annual rate of growth in terms of value from China totaled +29.7%. The remaining supplying countries recorded the following average annual rates of imports growth: India (+9.7% per year) and Italy (-6.9% per year).

Import Prices by Country

The average machine-tool for working metal import price stood at $X per unit in 2021, falling by -13.6% against the previous year. Overall, the import price saw a perceptible shrinkage. The growth pace was the most rapid in 2018 when the average import price increased by 263%. As a result, import price reached the peak level of $X per unit. From 2019 to 2021, the average import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was the UK ($X per unit), while the price for Lebanon ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Italy (+1.4%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for machine tools for working metal in the world?

The countries with the highest volumes of machine-tool for working metal consumption in 2020 were India, China and South Korea, together accounting for 52% of global consumption.

What are the largest producers of machine tools for working metal in the world?

The countries with the highest volumes of machine-tool for working metal production in 2020 were China, India and South Korea, together comprising 61% of global production. These countries were followed by Japan, Germany, the United States, the Netherlands, Pakistan, Russia and Turkey, which together accounted for a further 24%.

What are the leading suppliers of machine tools for working metal to Nigeria?

In value terms, China constituted the largest supplier of machine-tool for working metal to Nigeria, comprising 81% of total imports. The second position in the ranking was occupied by India, with an 8.7% share of total imports. It was followed by South Korea, with a 3.7% share.

What are the leading importers of machine tools for working metal from Nigeria?

It was followed by Mozambique, with a 3.7% share.

What is the average export price for machine tools for working metal in Nigeria?

The average machine-tool for working metal export price stood at $13,052 per unit in 2020, picking up by 836% against the previous year.

What is the average import price for machine tools for working metal in Nigeria?

In 2020, the average machine-tool for working metal import price amounted to $3,520 per unit, reducing by -6.7% against the previous year.

This report provides an in-depth analysis of the market for machine-tool for working 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 28413120 - Numerically controlled bending, folding, straightening or flattening machines for working flat metal products (including presses)
Prodcom 28413140 - Numerically controlled bending, folding, straightening or flattening machines for working metal (including presses) (excluding those for working flat metal products)
Prodcom 28413160 - Non-numerically controlled bending, folding, straightening or flattening machines for working flat metal products (including presses)
Prodcom 28413180 - Non-numerically controlled bending, folding, straightening or flattening machines for working metal (including presses) (excluding those for working flat metal products)
Prodcom 28413220 - Numerically controlled shearing machines for working metal (including presses) (excluding combined punching and shearing machines)
Prodcom 28413240 - Numerically controlled punching or notching machines for working metal (including presses, combined punching and shearing machines)
Prodcom 28413260 - Non-numerically controlled shearing machines for working metal (including presses) (excluding combined punching and shearing machines)
Prodcom 28413280 - Non-numerically controlled punching or notching machines for working metal (including presses, combined punching and shearing machines)
Prodcom 28413310 - Numerically controlled forging or die-stamping machines and hammers for working metal (including presses)
Prodcom 28413320 - Non-numerically controlled forging or die-stamping machines and hammers for working metal (including presses)
Prodcom 28413330 -
Prodcom 28413340 -
Prodcom 28413370 -
Prodcom 28413380 -

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