Report Update Nov 1, 2024

Nigeria - Machines for Working Wire - Market Analysis, Forecast, Size, Trends and Insights

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Nigeria: Working Wire Machine Market 2024

Working Wire Machine Market Size in Nigeria

In 2021, the Nigerien working wire machine market decreased by -33.2% to $X, falling for the second consecutive year after three years of growth. In general, consumption, however, continues to indicate slight growth. Over the period under review, the market reached the maximum level at $X in 2019; however, from 2020 to 2021, consumption failed to regain momentum.

Working Wire Machine Exports

Exports from Nigeria

In 2017, approx. X units of machines for working wire were exported from Nigeria; which is down by -46.7% against the previous year's figure. In general, exports recorded a dramatic setback. The exports peaked at X units in 2016, and then fell dramatically in the following year.

In value terms, working wire machine exports shrank sharply to $X in 2017. Overall, exports faced a sharp slump. The exports peaked at $X in 2016, and then declined rapidly in the following year.

Exports by Country

India (X units) was the main destination for working wire machine exports from Nigeria, accounting for a approx. 100% share of total exports.

From 2015 to 2017, the average annual rate of growth in terms of volume to India stood at -46.7%.

In value terms, India ($X) also remains the key foreign market for machines for working wire exports from Nigeria.

From 2015 to 2017, the average annual growth rate of value to India amounted to -74.0%.

Export Prices by Country

The average working wire machine export price stood at $X per unit in 2017, with a decrease of -50.9% against the previous year. Over the period under review, the export price saw a dramatic slump. Over the period under review, the average export prices attained the maximum at $X per unit in 2016, and then dropped remarkably in the following year.

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

From 2016 to 2017, the rate of growth in terms of prices for India amounted to -50.9% per year.

Working Wire Machine Imports

Imports into Nigeria

In 2021, overseas purchases of machines for working wire decreased by -31.1% to X units, falling for the second consecutive year after three years of growth. In general, imports, however, recorded slight growth. The pace of growth appeared the most rapid in 2015 when imports increased by 381% against the previous year. Over the period under review, imports attained the maximum at X units in 2019; however, from 2020 to 2021, imports failed to regain momentum.

In value terms, working wire machine imports declined sharply to $X in 2021. Over the period under review, imports continue to indicate a deep setback. The most prominent rate of growth was recorded in 2019 with an increase of 197%. As a result, imports reached the peak of $X. From 2020 to 2021, the growth of imports remained at a somewhat lower figure.

Imports by Country

France (X units), China (X units) and Taiwan (Chinese) (X units) were the main suppliers of working wire machine imports to Nigeria, together accounting for 73% of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by France (with a CAGR of +27.7%), while imports for the other leaders experienced more modest paces of growth.

In value terms, China ($X), France ($X) and Taiwan (Chinese) ($X) constituted the largest working wire machine suppliers to Nigeria, together comprising 89% of total imports.

In terms of the main suppliers, France, with a CAGR of +34.3%, saw 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 working wire machine import price stood at $X per unit in 2021, waning by -35.4% against the previous year. Over the period under review, the import price showed a abrupt decline. The pace of growth was the most pronounced in 2016 an increase of 982%. The import price peaked at $X per unit in 2013; however, from 2014 to 2021, import prices failed to regain momentum.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by France (+1.9%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for machines for working wire in the world?

The countries with the highest volumes of working wire machine consumption in 2021 were South Africa, China and the United States, with a combined 90% share of global consumption.

What are the largest producers of machines for working wire in the world?

China constituted the country with the largest volume of working wire machine production, comprising approx. 74% of total volume. Moreover, working wire machine production in China exceeded the figures recorded by the second-largest producer, the United States, fivefold. The third position in this ranking was occupied by the UK, with a 1.8% share.

What are the leading suppliers of machines for working wire to Nigeria?

In value terms, China constituted the largest supplier of working wire machine to Nigeria, comprising 51% of total imports. The second position in the ranking was occupied by Germany, with a 16% share of total imports. It was followed by Taiwan Chinese), with a 15% share.

What are the leading importers of machines for working wire from Nigeria?

In value terms, India remains the key foreign market for working wire machine exports from Nigeria.

What is the average export price for machines for working wire in Nigeria?

In 2017, the average working wire machine export price amounted to $3,778 per unit, falling by -51.6% against the previous year.

What is the average import price for machines for working wire in Nigeria?

The average working wire machine import price stood at $2,666 per unit in 2021, growing by 172% against the previous year.

This report provides an in-depth analysis of the working wire machine market 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 28413450 - Machines for working wire (excluding draw-benches, thread rolling machines)

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