Report Update Nov 1, 2024

Nigeria - Ploughs for Agricultural Purposes - Market Analysis, Forecast, Size, Trends and Insights

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Nigeria: Plough Market 2024

Plough Exports

Exports from Nigeria

In 2022, after two years of decline, there was significant decline in overseas shipments of ploughs for agricultural purposes, when their volume decreased by -36.4% to X units. Over the period under review, exports recorded a significant curtailment. The exports peaked at X units in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

In value terms, plough exports shrank sharply to $X in 2022. Overall, exports recorded a deep slump. The exports peaked at $X in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

Exports by Country

Niger (X units) was the main destination for plough exports from Nigeria, accounting for a approx. 100% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of volume to Niger totaled +67.1%.

In value terms, Niger ($X) emerged as the key foreign market for ploughs for agricultural purposes exports from Nigeria.

From 2012 to 2022, the average annual growth rate of value to Niger amounted to +57.5%.

Export Prices by Country

The average plough export price stood at $X per unit in 2022, jumping by 18% against the previous year. Over the period under review, the export price continues to indicate resilient growth. The pace of growth was the most pronounced in 2014 when the average export price increased by 25%. Over the period under review, the average export prices reached the peak figure at $X per unit in 2019; however, from 2020 to 2022, the export prices remained at a lower figure.

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

From 2012 to 2022, the rate of growth in terms of prices for Egypt amounted to +110.2% per year.

Plough Imports

Imports into Nigeria

After five years of growth, purchases abroad of ploughs for agricultural purposes decreased by -78.3% to X units in 2022. Overall, imports, however, saw a significant increase. The growth pace was the most rapid in 2017 with an increase of 819%. Imports peaked at X units in 2021, and then fell markedly in the following year.

In value terms, plough imports declined sharply to $X in 2022. In general, imports, however, showed a remarkable increase. The most prominent rate of growth was recorded in 2017 when imports increased by 827%. Imports peaked at $X in 2021, and then reduced rapidly in the following year.

Imports by Country

In 2022, China (X units) constituted the largest supplier of plough to Nigeria, accounting for a 89% share of total imports. It was followed by Indonesia (X units), with a 1.8% share of total imports. The third position in this ranking was taken by Pakistan (X units), with a 1.8% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China amounted to +45.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Indonesia (+77.6% per year) and Pakistan (+5.2% per year).

In value terms, China ($X) constituted the largest supplier of ploughs for agricultural purposes to Nigeria, comprising 87% of total imports. The second position in the ranking was held by Pakistan ($X), with a 1.6% share of total imports. It was followed by Indonesia, with a 1.4% share.

From 2012 to 2022, the average annual rate of growth in terms of value from China totaled +24.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Pakistan (-1.5% per year) and Indonesia (+52.2% per year).

Import Prices by Country

In 2022, the average plough import price amounted to $X per unit, surging by 51% against the previous year. Overall, the import price, however, saw a deep contraction. The import price peaked at $X per unit in 2017; however, from 2018 to 2022, import prices failed to regain momentum.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Pakistan (-6.4%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for ploughs for agricultural purposes in the world?

Nigeria remains the largest plough consuming country worldwide, comprising approx. 35% of total volume. Moreover, plough consumption in Nigeria exceeded the figures recorded by the second-largest consumer, the United States, sixfold. Norway ranked third in terms of total consumption with a 5% share.

What are the largest producers of ploughs for agricultural purposes in the world?

The countries with the highest volumes of plough production in 2021 were France, Norway and Germany, with a combined 39% share of global production. These countries were followed by China, Turkey, the United States, South Africa, the Czech Republic, Italy, Brazil, Thailand and Zimbabwe, which together accounted for a further 50%.

What are the leading suppliers of ploughs for agricultural purposes to Nigeria?

In value terms, China constituted the largest supplier of plough to Nigeria.

What is the average export price for ploughs for agricultural purposes in Nigeria?

In 2017, the average plough export price amounted to $1,468 per unit, leveling off at the previous year.

What is the average import price for ploughs for agricultural purposes in Nigeria?

The average plough import price stood at $258 per unit in 2021, dropping by -47% against the previous year.

This report provides an in-depth analysis of the plough 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 28303130 -
Prodcom 28303150 -

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