Nigeria: Market for Mechanical Appliances For Projecting, Dispersing Or Spraying 2024

Market Size for Mechanical Appliances For Projecting, Dispersing Or Spraying in Nigeria

In 2022, after five years of growth, there was significant decline in the Nigerien market for mechanical appliances for projecting, dispersing or spraying, when its value decreased by -76.4% to $X. In general, consumption, however, showed a significant increase. Consumption of peaked at $X in 2021, and then reduced dramatically in the following year.

Exports of Mechanical Appliances For Projecting, Dispersing Or Spraying

Exports from Nigeria

In 2022, shipments abroad of mechanical appliances for projecting, dispersing or spraying decreased by -23.1% to X units, falling for the fourth consecutive year after three years of growth. Over the period under review, exports, however, saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2013 with an increase of 896%. As a result, the exports attained the peak of X units. From 2014 to 2022, the growth of the exports of remained at a lower figure.

In value terms, exports of mechanical appliances for projecting, dispersing or spraying expanded sharply to $X in 2022. In general, exports, however, saw a mild expansion. The pace of growth appeared the most rapid in 2017 when exports increased by 3,019%. As a result, the exports reached the peak of $X. From 2018 to 2022, the growth of the exports of remained at a lower figure.

Exports by Country

The Netherlands (X units) was the main destination for exports of mechanical appliances for projecting, dispersing or spraying from Nigeria, with a 61% share of total exports. Moreover, exports of mechanical appliances for projecting, dispersing or spraying to the Netherlands exceeded the volume sent to the second major destination, Niger (X units), twofold. Ghana (X units) ranked third in terms of total exports with a 6.3% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to the Netherlands was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Niger (+4.9% per year) and Ghana (+30.1% per year).

In value terms, Angola ($X) emerged as the key foreign market for mechanical appliances for projecting, dispersing or spraying exports from Nigeria, comprising 53% of total exports. The second position in the ranking was taken by the Netherlands ($X), with a 26% share of total exports. It was followed by Cote d'Ivoire, with a 17% share.

From 2012 to 2022, the average annual growth rate of value to Angola totaled +17.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Netherlands (-7.0% per year) and Cote d'Ivoire (+17.1% per year).

Export Prices by Country

The average export price for mechanical appliances for projecting, dispersing or spraying stood at $X per unit in 2022, growing by 49% against the previous year. Overall, the export price saw mild growth. The most prominent rate of growth was recorded in 2017 when the average export price increased by 270% against the previous year. As a result, the export price attained the peak level of $X per unit. From 2018 to 2022, the average export prices failed to regain momentum.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Angola ($X per unit), while the average price for exports to Niger ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Cote d'Ivoire (+20.4%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Mechanical Appliances For Projecting, Dispersing Or Spraying

Imports into Nigeria

In 2022, overseas purchases of mechanical appliances for projecting, dispersing or spraying decreased by -75.8% to X units for the first time since 2016, thus ending a five-year rising trend. Over the period under review, imports, however, recorded a significant expansion. The pace of growth appeared the most rapid in 2018 when imports increased by 189% against the previous year. Over the period under review, imports of hit record highs at X units in 2021, and then declined significantly in the following year.

In value terms, imports of mechanical appliances for projecting, dispersing or spraying declined remarkably to $X in 2022. Overall, imports, however, saw significant growth. The pace of growth was the most pronounced in 2020 with an increase of 170%. Over the period under review, imports of attained the peak figure at $X in 2021, and then contracted significantly in the following year.

Imports by Country

China (X units), India (X units) and Spain (X units) were the main suppliers of imports of mechanical appliances for projecting, dispersing or spraying to Nigeria, with a combined 73% share of total imports. Brazil, the United Arab Emirates, Indonesia and Turkey lagged somewhat behind, together accounting for a further 17%.

From 2012 to 2022, the biggest increases were recorded for Brazil (with a CAGR of +64.3%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, China ($X), India ($X) and Brazil ($X) appeared to be the largest mechanical appliances for projecting, dispersing or spraying suppliers to Nigeria, with a combined 65% share of total imports.

Brazil, with a CAGR of +59.7%, recorded the highest rates of growth with regard to the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average import price for mechanical appliances for projecting, dispersing or spraying amounted to $X per unit, waning by -4.9% against the previous year. In general, the import price, however, continues to indicate a slight increase. The pace of growth appeared the most rapid in 2014 when the average import price increased by 33% against the previous year. The import price peaked at $X per unit in 2015; however, from 2016 to 2022, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Brazil ($X per unit), while the price for Spain ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (+7.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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