Nigeria: Grinding Machine Market 2024

Grinding Machine Market Size in Nigeria

In 2021, the Nigerien grinding machine market decreased by -54.1% to $X, falling for the second year in a row after three years of growth. Overall, consumption, however, saw a moderate increase. Over the period under review, the market attained the maximum level at $X in 2019; however, from 2020 to 2021, consumption remained at a lower figure.

Grinding Machine Exports

Exports from Nigeria

Grinding machine exports from Nigeria skyrocketed to X units in 2021, rising by 150% compared with the previous year's figure. Overall, exports, however, recorded a sharp reduction. The pace of growth appeared the most rapid in 2017 with an increase of 500%. The exports peaked at X units in 2014; however, from 2015 to 2021, the exports failed to regain momentum.

In value terms, grinding machine exports fell notably to $X in 2021. Over the period under review, exports, however, saw a precipitous shrinkage. The growth pace was the most rapid in 2019 with an increase of 695%. Over the period under review, the exports hit record highs at $X in 2014; however, from 2015 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Benin (X units) was the main destination for grinding machine exports from Nigeria, accounting for a 60% share of total exports. Moreover, grinding machine exports to Benin exceeded the volume sent to the second major destination, Burkina Faso (X units), threefold.

From 2012 to 2021, the average annual rate of growth in terms of volume to Benin was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Burkina Faso (0.0% per year) and Canada (0.0% per year).

In value terms, Benin ($X) emerged as the key foreign market for machines having individual functions, for mixing, kneading, crushing or grinding exports from Nigeria, comprising 81% of total exports. The second position in the ranking was taken by Burkina Faso ($X), with a 16% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value to Benin totaled +124.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Burkina Faso (0.0% per year) and Canada (0.0% per year).

Export Prices by Country

The average grinding machine export price stood at $X per unit in 2021, which is down by -83.6% against the previous year. Over the period under review, the export price showed a deep reduction. The most prominent rate of growth was recorded in 2016 when the average export price increased by 530%. As a result, the export price reached the peak level of $X per unit. From 2017 to 2021, the average export prices remained at a lower figure.

Prices varied noticeably country of destination: the country with the highest price was Burkina Faso ($X per unit), while the average price for exports to Canada ($X per unit) 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 (+3.9%), while the prices for the other major destinations experienced a decline.

Grinding Machine Imports

Imports into Nigeria

In 2021, supplies from abroad of machines having individual functions, for mixing, kneading, crushing or grinding decreased by -62.1% to X units, falling for the second year in a row after three years of growth. Overall, imports saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2015 with an increase of 61% against the previous year. Imports peaked at X units in 2019; however, from 2020 to 2021, imports remained at a lower figure.

In value terms, grinding machine imports dropped rapidly to $X in 2021. In general, imports, however, enjoyed a resilient increase. The most prominent rate of growth was recorded in 2013 with an increase of 126% against the previous year. Imports peaked at $X in 2019; however, from 2020 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, China (X units) constituted the largest grinding machine supplier to Nigeria, accounting for a 77% share of total imports. Moreover, grinding machine imports from China exceeded the figures recorded by the second-largest supplier, India (X units), more than tenfold. The third position in this ranking was taken by Germany (X units), with a 4.8% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from China amounted to +20.4%. The remaining supplying countries recorded the following average annual rates of imports growth: India (-17.1% per year) and Germany (+10.3% per year).

In value terms, China ($X) constituted the largest supplier of machines having individual functions, for mixing, kneading, crushing or grinding to Nigeria, comprising 53% of total imports. The second position in the ranking was held by Singapore ($X), with a 22% share of total imports. It was followed by Italy, with a 6.9% share.

From 2012 to 2021, the average annual rate of growth in terms of value from China totaled +33.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Singapore (+7.4% per year) and Italy (+2.2% per year).

Import Prices by Country

In 2021, the average grinding machine import price amounted to $X per unit, growing by 47% against the previous year. Over the period under review, import price indicated buoyant growth from 2012 to 2021: its price increased at an average annual rate of +10.6% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, grinding machine import price increased by +62.1% against 2018 indices. The pace of growth was the most pronounced in 2013 an increase of 57% against the previous year. Over the period under review, average import prices hit record highs in 2021 and is expected to retain growth in years to come.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Brazil (+67.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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