Report Update Nov 1, 2024

Nigeria - Motor Vehicle Chassis Fitted with Engines - Market Analysis, Forecast, Size, Trends and Insights

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Nigeria: Market for Motor Vehicle Chassis Fitted With Engines 2024

Market Size for Motor Vehicle Chassis Fitted With Engines in Nigeria

In 2022, the Nigerien market for motor vehicle chassis fitted with engines decreased by -33.3% to $X, falling for the third year in a row after three years of growth. In general, consumption, however, enjoyed a significant expansion. Consumption of peaked at $X in 2019; however, from 2020 to 2022, consumption remained at a lower figure.

Exports of Motor Vehicle Chassis Fitted With Engines

Exports from Nigeria

In 2022, approx. X units of motor vehicle chassis fitted with engines were exported from Nigeria; approximately reflecting the previous year's figure. Over the period under review, exports recorded a drastic downturn. The smallest decline of 99.9% was in 2014. Over the period under review, the exports of attained the maximum at X units in 2013; however, from 2014 to 2022, the exports failed to regain momentum.

In value terms, exports of motor vehicle chassis fitted with engines skyrocketed to $X in 2022. In general, exports posted a buoyant expansion. The pace of growth appeared the most rapid in 2013 with an increase of 9,472%. Over the period under review, the exports of attained the maximum at $X in 2014; however, from 2015 to 2022, the exports failed to regain momentum.

Exports by Country

Benin (X units) was the main destination for exports of motor vehicle chassis fitted with engines from Nigeria, accounting for a approx. 100% share of total exports.

From 2013 to 2022, the average annual growth rate of volume to Benin was relatively modest.

In value terms, Benin ($X) also remains the key foreign market for motor vehicle chassis fitted with engines exports from Nigeria.

From 2013 to 2022, the average annual growth rate of value to Benin stood at +26.5%.

Export Prices by Country

In 2022, the average export price for motor vehicle chassis fitted with engines amounted to $X per unit, remaining relatively unchanged against the previous year. Overall, the export price recorded a sharp reduction. The pace of growth was the most pronounced in 2014 a decrease of 99.9% against the previous year. Over the period under review, the average export prices reached the peak figure at $X per unit in 2013; however, from 2014 to 2022, the export prices stood at a somewhat lower figure.

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

From 2013 to 2022, the rate of growth in terms of prices for Benin amounted to +26.5% per year.

Imports of Motor Vehicle Chassis Fitted With Engines

Imports into Nigeria

In 2022, purchases abroad of motor vehicle chassis fitted with engines decreased by -17.8% to X units, falling for the third consecutive year after three years of growth. In general, imports, however, recorded significant growth. The most prominent rate of growth was recorded in 2015 when imports increased by 340% against the previous year. Imports peaked at X units in 2019; however, from 2020 to 2022, imports remained at a lower figure.

In value terms, imports of motor vehicle chassis fitted with engines declined sharply to $X in 2022. Over the period under review, imports, however, continue to indicate a buoyant expansion. The most prominent rate of growth was recorded in 2014 when imports increased by 597%. Imports peaked at $X in 2019; however, from 2020 to 2022, imports remained at a lower figure.

Imports by Country

South Korea (X units), Thailand (X units) and Mexico (X units) were the main suppliers of imports of motor vehicle chassis fitted with engines to Nigeria, together comprising 35% of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by South Korea (with a CAGR of +70.9%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest motor vehicle chassis fitted with engines suppliers to Nigeria were South Korea ($X), Mexico ($X) and Thailand ($X), with a combined 62% share of total imports.

Among the main suppliers, South Korea, with a CAGR of +135.8%, 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

In 2022, the average import price for motor vehicle chassis fitted with engines amounted to $X per unit, dropping by -47.2% against the previous year. In general, the import price saw a abrupt descent. The pace of growth appeared the most rapid in 2014 an increase of 75% against the previous year. The import price peaked at $X per unit in 2019; however, from 2020 to 2022, import prices remained at a lower figure.

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 China ($X per unit), while the price for Finland ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by France (+57.9%), 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 motor vehicle chassis fitted with engines in the world?

The countries with the highest volumes of in 2021 were Japan, India and Qatar, together comprising 71% of global consumption.

What are the largest producers of motor vehicle chassis fitted with engines in the world?

The countries with the highest volumes of in 2021 were Japan, India and Qatar, with a combined 75% share of global production.

What are the leading suppliers of motor vehicle chassis fitted with engines to Nigeria?

In value terms, China constituted the largest supplier of motor vehicle chassis fitted with engines to Nigeria, comprising 79% of total imports. The second position in the ranking was occupied by South Korea, with a 7% share of total imports. It was followed by Mexico, with a 5% share.

What are the leading importers of motor vehicle chassis fitted with engines from Nigeria?

In value terms, the largest markets for motor vehicle chassis fitted with engines exported from Nigeria were Cameroon and Benin.

What is the average export price for motor vehicle chassis fitted with engines in Nigeria?

In 2015, the average export price for motor vehicle chassis fitted with engines amounted to $6,340 per unit, shrinking by -22.6% against the previous year.

What is the average import price for motor vehicle chassis fitted with engines in Nigeria?

In 2021, the average import price for motor vehicle chassis fitted with engines amounted to $147,564 per unit, surging by 43% against the previous year.

This report provides an in-depth analysis of the market for motor vehicle chassis fitted with engines 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 29104400 - Chassis fitted with engines, for tractors, motor cars and other motor vehicles principally designed for carrying people, goods vehicles and special purpose vehicles including for racing cars

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