Report Update Nov 1, 2024

Nigeria - Machine Tools for Working Metal Without Removing Metal - Market Analysis, Forecast, Size, Trends and Insights

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Nigeria: Market for Machine Tools For Working Metal Without Removing Metal 2024

Market Size for Machine Tools For Working Metal Without Removing Metal in Nigeria

After three years of growth, the Nigerien machine tool for metal market decreased by -49.1% to $X in 2021. In general, consumption, however, posted significant growth. Machine tool for metal consumption peaked at $X in 2020, and then reduced sharply in the following year.

Exports of Machine Tools For Working Metal Without Removing Metal

Exports from Nigeria

In 2017, approx. X units of machine tools for working metal without removing metal were exported from Nigeria; rising by 632% compared with the previous year. In general, exports, however, faced a sharp shrinkage. The exports peaked at X units in 2013; however, from 2014 to 2017, the exports stood at a somewhat lower figure.

In value terms, machine tool for metal exports soared to $X in 2017. Over the period under review, exports, however, recorded a precipitous slump. The growth pace was the most rapid in 2016 when exports increased by 16% against the previous year. The exports peaked at $X in 2013; however, from 2014 to 2017, the exports stood at a somewhat lower figure.

Exports by Country

The Netherlands (X units) was the main destination for machine tool for metal exports from Nigeria, accounting for a 91% share of total exports. Moreover, machine tool for metal exports to the Netherlands exceeded the volume sent to the second major destination, Cote d'Ivoire (X units), more than tenfold.

From 2013 to 2017, the average annual growth rate of volume to the Netherlands was relatively modest.

In value terms, the largest markets for machine tool for metal exported from Nigeria were Cote d'Ivoire ($X) and the Netherlands ($X).

Cote d'Ivoire, with a CAGR of +250.3%, recorded the highest growth rate of the value of exports, among the main countries of destination over the period under review.

Export Prices by Country

In 2017, the average machine tool for metal export price amounted to $X per unit, declining by -84.6% against the previous year. Overall, the export price, however, posted a significant increase. The most prominent rate of growth was recorded in 2016 an increase of 768% against the previous year. As a result, the export price attained the peak level of $X per unit, and then declined remarkably in the following year.

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 the Netherlands stood at $X per unit.

From 2013 to 2017, the most notable rate of growth in terms of prices was recorded for supplies to Benin (+1,128.7%).

Imports of Machine Tools For Working Metal Without Removing Metal

Imports into Nigeria

In 2021, purchases abroad of machine tools for working metal without removing metal decreased by -45.8% to X units for the first time since 2017, thus ending a three-year rising trend. Overall, imports, however, posted significant growth. The pace of growth appeared the most rapid in 2018 with an increase of 385% against the previous year. Imports peaked at X units in 2020, and then shrank dramatically in the following year.

In value terms, machine tool for metal imports dropped remarkably to $X in 2021. Over the period under review, imports, however, enjoyed a prominent increase. The most prominent rate of growth was recorded in 2018 when imports increased by 255% against the previous year. Imports peaked at $X in 2020, and then dropped dramatically in the following year.

Imports by Country

In 2021, China (X units) constituted the largest supplier of machine tool for metal to Nigeria, with a 80% share of total imports. Moreover, machine tool for metal imports from China exceeded the figures recorded by the second-largest supplier, the United States (X units), fivefold.

From 2012 to 2021, the average annual growth rate of volume from China amounted to +23.1%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (+76.1% per year) and Germany (+60.0% per year).

In value terms, China ($X) constituted the largest supplier of machine tools for working metal without removing metal to Nigeria, comprising 72% of total imports. The second position in the ranking was taken by the United States ($X), with a 14% share of total imports.

From 2012 to 2021, the average annual rate of growth in terms of value from China totaled +13.6%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (+39.5% per year) and Germany (+55.0% per year).

Import Prices by Country

In 2021, the average machine tool for metal import price amounted to $X per unit, dropping by -35% against the previous year. Over the period under review, the import price saw a abrupt decrease. The growth pace was the most rapid in 2016 an increase of 173% against the previous year. As a result, import price reached the peak level of $X per unit. From 2017 to 2021, the average import prices failed to regain momentum.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Germany (-3.2%), 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 without removing metal in the world?

The countries with the highest volumes of machine tool for metal consumption in 2020 were the United States, Taiwan Chinese) and Nigeria, together accounting for 43% of global consumption.

What are the largest producers of machine tools for working metal without removing metal in the world?

The countries with the highest volumes of machine tool for metal production in 2020 were the United States, Taiwan Chinese) and Germany, together accounting for 65% of global production. These countries were followed by Japan, Switzerland, Italy and Denmark, which together accounted for a further 27%.

What are the leading suppliers of machine tools for working metal without removing metal to Nigeria?

In value terms, China constituted the largest supplier of machine tool for metal to Nigeria, comprising 93% of total imports. The second position in the ranking was occupied by the United States, with a 5.2% share of total imports.

What are the leading importers of machine tools for working metal without removing metal from Nigeria?

In value terms, the largest markets for machine tool for metal exported from Nigeria were Cote d'Ivoire and the Netherlands.

What is the average export price for machine tools for working metal without removing metal in Nigeria?

In 2017, the average machine tool for metal export price amounted to $634 per unit, declining by -4.8% against the previous year.

What is the average import price for machine tools for working metal without removing metal in Nigeria?

The average machine tool for metal import price stood at $101 per unit in 2020, declining by -33.6% against the previous year.

This report provides an in-depth analysis of the market for machine tool for 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 28413470 - Riveting machines, swaging machines and spinning lathes for working metal, machines for manufacturing flexible tubes of spiral metal strip and electro-magnetic pulse metal forming machines, and other machine tools for working metal without removing metal

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