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Report Nigeria - Padlocks, Locks and Keys of Base Metal - Market Analysis, Forecast, Size, Trends and Insights for 499$
Report Update Feb 1, 2025

Nigeria - Padlocks, Locks and Keys of Base Metal - Market Analysis, Forecast, Size, Trends and Insights

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Nigeria: Lock And Key Market 2025

Lock And Key Market Size in Nigeria

The Nigerien lock and key market declined to $X in 2021, shrinking by -7.2% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Over the period under review, consumption, however, showed a temperate increase. Lock and key consumption peaked at $X in 2013; however, from 2014 to 2021, consumption stood at a somewhat lower figure.

Lock And Key Exports

Exports from Nigeria

In 2021, the amount of padlocks, locks and keys of base metal exported from Nigeria skyrocketed to X tons, surging by 235% on the year before. Overall, exports continue to indicate a resilient increase. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, lock and key exports surged to $X in 2021. In general, exports saw a buoyant expansion. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

Belgium (X tons), Burkina Faso (X tons) and Cameroon (X tons) were the main destinations of lock and key exports from Nigeria, together accounting for 63% of total exports.

From 2012 to 2021, the biggest increases were recorded for Belgium (with a CAGR of +204.1%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Belgium ($X) emerged as the key foreign market for padlocks, locks and keys of base metal exports from Nigeria, comprising 21% of total exports. The second position in the ranking was taken by Ghana ($X), with a 10% share of total exports. It was followed by Cameroon, with a 6.1% share.

From 2012 to 2021, the average annual growth rate of value to Belgium stood at +104.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Ghana (+5.3% per year) and Cameroon (+35.3% per year).

Export Prices by Country

The average lock and key export price stood at $X per ton in 2021, picking up by 7.3% against the previous year. Overall, the export price saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2015 when the average export price increased by 35%. The export price peaked at $X per ton in 2017; however, from 2018 to 2021, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major external markets. In 2021, amid the top suppliers, the country with the highest price was Ghana ($X per ton), while the average price for exports to Burkina Faso ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to China (+13.7%), while the prices for the other major destinations experienced more modest paces of growth.

Lock And Key Imports

Imports into Nigeria

In 2021, imports of padlocks, locks and keys of base metal into Nigeria reduced modestly to X tons, declining by -4.1% against 2020 figures. Over the period under review, imports, however, enjoyed moderate growth. The most prominent rate of growth was recorded in 2016 when imports increased by 176% against the previous year. Over the period under review, imports reached the peak figure at X tons in 2013; however, from 2014 to 2021, imports remained at a lower figure.

In value terms, lock and key imports shrank notably to $X in 2021. In general, imports continue to indicate a slight curtailment. The most prominent rate of growth was recorded in 2016 when imports increased by 114%. As a result, imports reached the peak of $X. From 2017 to 2021, the growth of imports failed to regain momentum.

Imports by Country

In 2021, China (X tons) was the main supplier of lock and key to Nigeria, accounting for a 93% share of total imports. It was followed by Germany (X tons), with a 1.8% share of total imports.

From 2012 to 2021, the average annual rate of growth in terms of volume from China stood at +4.0%.

In value terms, China ($X) constituted the largest supplier of padlocks, locks and keys of base metal to Nigeria, comprising 65% of total imports. The second position in the ranking was held by Germany ($X), with a 3.5% share of total imports.

From 2012 to 2021, the average annual rate of growth in terms of value from China was relatively modest.

Import Prices by Country

The average lock and key import price stood at $X per ton in 2021, declining by -11.5% against the previous year. In general, the import price recorded a perceptible descent. The growth pace was the most rapid in 2014 an increase of 40% against the previous year. Over the period under review, average import prices reached the peak figure at $X per ton in 2015; however, from 2016 to 2021, 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 Germany ($X per ton), while the price for China stood at $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (-4.0%).

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

The countries with the highest volumes of lock and key consumption in 2020 were China, the United States and Germany, with a combined 44% share of global consumption. Mexico, Turkey, Canada, India, Poland, Russia, Italy, the UK, South Korea and Thailand lagged somewhat behind, together comprising a further 26%.
China constituted the country with the largest volume of lock and key production, accounting for 58% of total volume. Moreover, lock and key production in China exceeded the figures recorded by the second-largest producer, Germany, ninefold. The third position in this ranking was occupied by Turkey, with a 4.3% share.
In value terms, China constituted the largest supplier of lock and key to Nigeria, comprising 72% of total imports. The second position in the ranking was occupied by South Africa, with a 3.1% share of total imports.
In value terms, the largest markets for lock and key exported from Nigeria were Lithuania, the United States and Benin, with a combined 89% share of total exports.
In 2020, the average lock and key export price amounted to $7,400 per ton, shrinking by -33.8% against the previous year.
The average lock and key import price stood at $3,624 per ton in 2020, surging by 28% against the previous year.

This report provides an in-depth analysis of the lock and key 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 25721130 - Base metal padlocks
  • Prodcom 25721150 - Base metal motor vehicle locks
  • Prodcom 25721170 - Base metal furniture locks
  • Prodcom 25721230 - Base metal cylinder locks used for doors of buildings
  • Prodcom 25721250 - Base metal locks used for doors of buildings (excluding cylinder locks)
  • Prodcom 25721270 - Base metal locks (excluding padlocks, motor vehicle locks, f urniture locks and locks used for doors of buildings)
  • Prodcom 25721330 - Base metal clasps and frames with clasps, with locks (excluding fasteners and clasps for handbags, brief-cases and executive-cases)
  • Prodcom 25721350 - Base metal keys presented separately (including roughly cast, forged or stamped blanks, skeleton keys)
  • Prodcom 25721410 - Base metal hinges
  • Prodcom 25721420 - Castors with mountings of base metal
  • Prodcom 25721430 - Base metal mountings, fittings and similar articles suitable for motor vehicles (excluding hinges, castors, locks and keys)
  • Prodcom 25721440 - Base metal mountings, fittings and similar articles suitable for buildings (excluding hinges, castors, locks, keys, spy holes fitted with optical elements and key operated door bolts)
  • Prodcom 25721450 - Base metal mountings, fittings and similar articles suitable for furniture (excluding hinges, castors, locks and keys)
  • Prodcom 25721460 - Other base metal mountings, fittings and similar articles (excluding for motor vehicles, buildings or furniture)
  • Prodcom 25721470 - Base metal automatic door closers
  • Prodcom 25721480 - Base metal hat-racks, hat-pegs, brackets, coat racks, towel racks, dish-cloth racks, brush racks and key racks (excluding coat-racks having the character of furniture)

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:

  1. How to diversify your business and benefit from new market opportunities
  2. How to load your idle production capacity
  3. How to boost your sales on overseas markets
  4. How to increase your profit margins
  5. How to make your supply chain more sustainable
  6. How to reduce your production and supply chain costs
  7. How to outsource production to other countries
  8. 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. 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. 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. 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. 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. 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. 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. 7. PRODUCTION

    The Latest Trends and Insights into The Industry

    1. PRODUCTION VOLUME AND VALUE

  8. 8. IMPORTS

    The Largest Import Supplying Countries

    1. IMPORTS FROM 2012–2024
    2. IMPORTS BY COUNTRY
    3. IMPORT PRICES BY COUNTRY

  9. 9. EXPORTS

    The Largest Destinations for Exports

    1. EXPORTS FROM 2012–2024
    2. EXPORTS BY COUNTRY
    3. EXPORT PRICES BY COUNTRY

  10. 10. PROFILES OF MAJOR PRODUCERS

    The Largest Producers on The Market and Their Profiles

    This Chapter is Available Only for the Professional Edition PRO

  11. LIST OF TABLES

    1. Key Findings In 2024
    2. Market Volume, In Physical Terms, 2012–2024
    3. Market Value, 2012–2024
    4. Per Capita Consumption In 2012-2024
    5. Imports, In Physical Terms, By Country, 2012–2024
    6. Imports, In Value Terms, By Country, 2012–2024
    7. Import Prices, By Country Of Origin, 2012–2024
    8. Exports, In Physical Terms, By Country, 2012–2024
    9. Exports, In Value Terms, By Country, 2012–2024
    10. Export Prices, By Country Of Destination, 2012–2024

  12. LIST OF FIGURES

    1. Market Volume, In Physical Terms, 2012–2024
    2. Market Value, 2012–2024
    3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2024
    4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2024
    5. Trade Balance, In Physical Terms, 2012-2024
    6. Trade Balance, In Value Terms, 2012-2024
    7. Per Capita Consumption, 2012-2024
    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, 2012–2024
    22. Production, In Value Terms, 2012–2024
    23. Imports, In Physical Terms, 2012–2024
    24. Imports, In Value Terms, 2012–2024
    25. Imports, In Physical Terms, By Country, 2024
    26. Imports, In Physical Terms, By Country, 2012–2024
    27. Imports, In Value Terms, By Country, 2012–2024
    28. Import Prices, By Country Of Origin, 2012–2024
    29. Exports, In Physical Terms, 2012–2024
    30. Exports, In Value Terms, 2012–2024
    31. Exports, In Physical Terms, By Country, 2024
    32. Exports, In Physical Terms, By Country, 2012–2024
    33. Exports, In Value Terms, By Country, 2012–2024
    34. Export Prices, By Country Of Destination, 2012–2024

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