Report Update Nov 1, 2024

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

Single report

Sent by email within 24h (Mon-Fri)

$599 Basic Edition

$2095 Professional Edition

What's the difference?

Subscription

Online access and download

from $350/month

Get instant access to more than 2 million reports, dashboards, and datasets on the IndexBox Platform.

View Pricing

Nigeria: Market for Machine-Tools For Working Wood 2024

Market Size for Machine-Tools For Working Wood in Nigeria

In 2021, after four years of growth, there was significant decline in the Nigerien machine-tool for working wood market, when its value decreased by -17.2% to $X. Over the period under review, consumption, however, recorded significant growth. Machine-tool for working wood consumption peaked at $X in 2020, and then dropped remarkably in the following year.

Exports of Machine-Tools For Working Wood

Exports from Nigeria

Machine-tool for working wood exports from Nigeria reduced markedly to X kg in 2021, which is down by -60% compared with the previous year. Overall, exports recorded a dramatic decline. The most prominent rate of growth was recorded in 2016 with an increase of 4,515% against the previous year. As a result, the exports reached the peak of X tons. From 2017 to 2021, the growth of the exports remained at a lower figure.

In value terms, machine-tool for working wood exports reduced sharply to $X in 2021. In general, exports continue to indicate a deep slump. The most prominent rate of growth was recorded in 2016 with an increase of 3,710% against the previous year. As a result, the exports attained the peak of $X. From 2017 to 2021, the growth of the exports remained at a lower figure.

Exports by Country

India (X kg), Benin (X kg) and Ghana (X kg) were the main destinations of machine-tool for working wood exports from Nigeria, with a combined 91% share of total exports.

From 2012 to 2021, the biggest increases were recorded for Benin (with a CAGR of +22.6%), while shipments for the other leaders experienced a decline.

In value terms, the largest markets for machine-tool for working wood exported from Nigeria were India ($X), Ghana ($X) and Togo ($X), with a combined 96% share of total exports. Benin, the United Arab Emirates and Niger lagged somewhat behind, together comprising a further 3.6%.

Benin, with a CAGR of +10.6%, recorded the highest growth rate of the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced a decline.

Export Prices by Country

In 2021, the average machine-tool for working wood export price amounted to $X per ton, increasing by 9.7% against the previous year. Overall, the export price recorded a strong increase. The pace of growth appeared the most rapid in 2013 an increase of 73% against the previous year. The export price peaked in 2021 and is expected to retain growth in the immediate term.

There were significant differences in the average prices for the major external markets. In 2021, amid the top suppliers, the country with the highest price was Ghana ($X per ton), while the average price for exports to Benin ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Cote d'Ivoire (+167.9%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Machine-Tools For Working Wood

Imports into Nigeria

In 2021, purchases abroad of machine-tools for working wood decreased by -16.8% to X tons for the first time since 2016, thus ending a four-year rising trend. Overall, imports, however, continue to indicate a significant increase. The most prominent rate of growth was recorded in 2018 when imports increased by 1,076%. Over the period under review, imports attained the peak figure at X tons in 2020, and then dropped markedly in the following year.

In value terms, machine-tool for working wood imports reduced notably to $X in 2021. In general, imports, however, continue to indicate significant growth. The pace of growth appeared the most rapid in 2018 with an increase of 193% against the previous year. Over the period under review, imports hit record highs at $X in 2020, and then contracted sharply in the following year.

Imports by Country

In 2021, China (X tons) was the main machine-tool for working wood supplier to Nigeria, with a 95% share of total imports. It was followed by the United States (X tons), with a 1.5% share of total imports.

From 2012 to 2021, the average annual rate of growth in terms of volume from China amounted to +52.7%.

In value terms, China ($X) constituted the largest supplier of machine-tools for working wood to Nigeria, comprising 89% of total imports. The second position in the ranking was taken by the United States ($X), with a 1.6% share of total imports.

From 2012 to 2021, the average annual rate of growth in terms of value from China stood at +56.4%.

Import Prices by Country

In 2021, the average machine-tool for working wood import price amounted to $X per ton, shrinking by -4.7% against the previous year. Overall, the import price continues to indicate a abrupt contraction. The most prominent rate of growth was recorded in 2014 an increase of 94%. The import price peaked at $X per ton in 2016; however, from 2017 to 2021, import prices stood at a somewhat lower figure.

Average prices varied noticeably amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was the United States ($X per ton), while the price for China amounted to $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+2.4%).

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

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

China remains the largest machine-tool for working wood consuming country worldwide, comprising approx. 34% of total volume. Moreover, machine-tool for working wood consumption in China exceeded the figures recorded by the second-largest consumer, the United States, threefold. The third position in this ranking was occupied by Japan, with a 5.9% share.

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

The country with the largest volume of machine-tool for working wood production was China, accounting for 54% of total volume. Moreover, machine-tool for working wood production in China exceeded the figures recorded by the second-largest producer, Italy, ninefold. Japan ranked third in terms of total production with a 5.9% share.

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

In value terms, China constituted the largest supplier of machine-tool for working wood to Nigeria, comprising 90% of total imports. The second position in the ranking was occupied by India, with a 2.2% share of total imports. It was followed by the United States, with a 1.6% share.

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

In 2020, the average machine-tool for working wood export price amounted to $15,073 per ton, remaining relatively unchanged against the previous year.

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

The average machine-tool for working wood import price stood at $17,801 per ton in 2020, jumping by 18% against the previous year.

This report provides an in-depth analysis of the market for machine-tool for working wood 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 28491210 - Multi-purpose machines where the workpiece is manually transferred between operations, for working wood, cork, b one, hard rubber, hard plastics or similar hard materials
Prodcom 28491220 - Multi-purpose machines where the workpiece is automatically transferred between operations for working wood, cork, bone, h ard rubber, hard plastics or similar hard materials
Prodcom 28491233 - Band saws for working wood, cork, bone and hard rubber, h ard plastics or similar hard materials
Prodcom 28491235 - Circular saws for working wood, cork, bone, hard rubber, hard plastics or similar hard materials
Prodcom 28491237 - Sawing machines for working wood, cork, bone, hard rubber, h ard plastics or similar hard materials (excluding band saws, c ircular saws)
Prodcom 28491250 - Planing, milling or moulding (by cutting) machines for working wood, cork, bone, hard rubber, hard plastics or similar hard materials
Prodcom 28491263 - Grinding, sanding or polishing machines for working wood, c ork, bone, hard rubber, hard plastics or similar hard materials
Prodcom 28491265 - Bending or assembling machines for working wood, cork, b one, hard rubber, hard plastics or similar hard materials
Prodcom 28491267 - Drilling or morticing machines for working wood, cork, bone, h ard rubber, hard plastics or similar hard materials
Prodcom 28491275 - Splitting, slicing or paring machines for working wood, cork, b one, hard rubber, hard plastics or similar hard materials
Prodcom 28491279 - Machine tools for working wood, cork, bone, hard rubber, h ard plastics or similar hard materials, n.e.c.
Prodcom 28491287 - Presses for the manufacture of particle board or fibre building board of wood or other ligneous materials, and other machines with individual functions for treating wood or cork

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