Report Update Nov 1, 2024

Nigeria - Milling Industry Machinery - Market Analysis, Forecast, Size, Trends and Insights

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Nigeria: Milling Industry Machinery Market 2024

Milling Industry Machinery Market Size in Nigeria

In 2022, the Nigerien milling industry machinery market decreased by X% to $X, falling for the third consecutive year after three years of growth. Over the period under review, consumption saw a deep slump. Milling industry machinery consumption peaked at $X in 2012; however, from 2013 to 2022, consumption remained at a lower figure.

Milling Industry Machinery Exports

Exports from Nigeria

Milling industry machinery exports from Nigeria skyrocketed to X units in 2014, picking up by X% on the previous year. Overall, exports showed significant growth. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, milling industry machinery exports skyrocketed to $X in 2014. Over the period under review, exports recorded a significant increase. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

Niger (X units) was the main destination for milling industry machinery exports from Nigeria, with a X% share of total exports. Moreover, milling industry machinery exports to Niger exceeded the volume sent to the second major destination, Burkina Faso (X units), threefold. The third position in this ranking was held by Benin (X units), with a X% share.

From 2012 to 2014, the average annual rate of growth in terms of volume to Niger totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Burkina Faso (X% per year) and Benin (X% per year).

In value terms, the largest markets for milling industry machinery exported from Nigeria were Niger ($X), Benin ($X) and Switzerland ($X), together accounting for X% of total exports. These countries were followed by Burkina Faso, which accounted for a further X%.

Among the main countries of destination, Burkina Faso, with a CAGR of X%, recorded the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2014, the average milling industry machinery export price amounted to $X per unit, jumping by X% against the previous year. Over the period under review, the export price enjoyed significant growth. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Benin ($X per unit), while the average price for exports to Burkina Faso ($X per unit) was amongst the lowest.

From 2012 to 2014, the most notable rate of growth in terms of prices was recorded for supplies to Benin (X%), while the prices for the other major destinations experienced more modest paces of growth.

Milling Industry Machinery Imports

Imports into Nigeria

In 2022, overseas purchases of milling industry machinery decreased by X% to X units, falling for the third year in a row after three years of growth. Over the period under review, imports showed a abrupt decrease. The most prominent rate of growth was recorded in 2018 with an increase of X%. Imports peaked at X units in 2012; however, from 2013 to 2022, imports remained at a lower figure.

In value terms, milling industry machinery imports skyrocketed to $X in 2022. In general, imports continue to indicate a abrupt decline. The pace of growth appeared the most rapid in 2017 when imports increased by X% against the previous year. Imports peaked at $X in 2014; however, from 2015 to 2022, imports stood at a somewhat lower figure.

Imports by Country

China (X units), India (X units) and the United Arab Emirates (X units) were the main suppliers of milling industry machinery imports to Nigeria, together accounting for X% of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by the United Arab Emirates (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, China ($X), India ($X) and the United Arab Emirates ($X) constituted the largest milling industry machinery suppliers to Nigeria, with a combined X% share of total imports.

Among the main suppliers, the United Arab Emirates, with a CAGR of X%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average milling industry machinery import price stood at $X per unit in 2022, jumping by X% against the previous year. Overall, the import price recorded a strong expansion. The pace of growth appeared the most rapid in 2020 when the average import price increased by X% against the previous year. Over the period under review, average import prices hit record highs at $X per unit in 2016; however, from 2017 to 2022, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Thailand ($X per unit), while the price for the United Arab Emirates ($X per unit) was amongst the lowest.

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

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for milling industry machinery in the world?

The countries with the highest volumes of milling industry machinery consumption in 2020 were China, the United States and India, together comprising 30% of global consumption. Indonesia, Turkey, Japan, Russia, Romania, Brazil, Libya, Sudan, the UK and Guatemala lagged somewhat behind, together comprising a further 30%.

What are the largest producers of milling industry machinery in the world?

Turkey constituted the country with the largest volume of milling industry machinery production, comprising approx. 41% of total volume. Moreover, milling industry machinery production in Turkey exceeded the figures recorded by the second-largest producer, China, twofold. The United States ranked third in terms of total production with an 8.1% share.

What are the leading suppliers of milling industry machinery to Nigeria?

In value terms, the largest milling industry machinery suppliers to Nigeria were China, India and Spain, with a combined 90% share of total imports.

What are the leading importers of milling industry machinery from Nigeria?

In value terms, Niger emerged as the key foreign market for milling industry machinery exports from Nigeria, comprising 67% of total exports. The second position in the ranking was occupied by Burundi, with a 15% share of total exports.

What is the average export price for milling industry machinery in Nigeria?

In 2020, the average milling industry machinery export price amounted to $615 per unit, increasing by 169% against the previous year.

What is the average import price for milling industry machinery in Nigeria?

The average milling industry machinery import price stood at $216 per unit in 2020, picking up by 57% against the previous year.

This report provides an in-depth analysis of the milling industry machinery 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 28931300 - Machinery used in the milling industry or for the working of cereals or dried leguminous vegetables (excluding farm-type machinery)

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