Nigeria: Market for Primary Cells and Batteries 2024

Market Size for Primary Cells and Batteries in Nigeria

In 2022, the Nigerien primary cell and battery market decreased by -29.7% to $X, falling for the second year in a row after three years of growth. In general, consumption continues to indicate a abrupt setback. Over the period under review, the market reached the peak level at $X in 2020; however, from 2021 to 2022, consumption remained at a lower figure.

Exports of Primary Cells and Batteries

Exports from Nigeria

In 2022, shipments abroad of primary cells and batteries was finally on the rise to reach X units after two years of decline. Over the period under review, exports, however, saw a deep setback. The most prominent rate of growth was recorded in 2018 with an increase of 92% against the previous year. Over the period under review, the exports reached the peak figure at X units in 2013; however, from 2014 to 2022, the exports stood at a somewhat lower figure.

In value terms, primary cell and battery exports rose significantly to $X in 2022. In general, exports, however, continue to indicate a deep slump. The most prominent rate of growth was recorded in 2014 when exports increased by 240% against the previous year. As a result, the exports attained the peak of $X. From 2015 to 2022, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Cote d'Ivoire (X units) was the main destination for primary cell and battery exports from Nigeria, accounting for a 79% share of total exports. Moreover, primary cell and battery exports to Cote d'Ivoire exceeded the volume sent to the second major destination, Ghana (X units), sevenfold. Cameroon (X units) ranked third in terms of total exports with a 4.3% share.

From 2012 to 2022, the average annual growth rate of volume to Cote d'Ivoire stood at +3.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Ghana (-16.1% per year) and Cameroon (+11.7% per year).

In value terms, the largest markets for primary cell and battery exported from Nigeria were Cote d'Ivoire ($X), Cameroon ($X) and Ghana ($X), with a combined 61% share of total exports.

Cameroon, with a CAGR of +30.2%, saw the highest rates of growth with regard to the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced a decline.

Export Prices by Country

The average primary cell and battery export price stood at $X per unit in 2022, declining by -14.1% against the previous year. Overall, the export price continues to indicate a slight decline. The pace of growth appeared the most rapid in 2014 when the average export price increased by 1,177% against the previous year. As a result, the export price reached the peak level of $X per unit. From 2015 to 2022, the average export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Cameroon ($X per unit), while the average price for exports to Cote d'Ivoire ($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 Spain (+310.3%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Primary Cells and Batteries

Imports into Nigeria

In 2022, purchases abroad of primary cells and batteries decreased by -51.2% to X units, falling for the second year in a row after five years of growth. In general, imports faced a abrupt slump. The pace of growth was the most pronounced in 2020 when imports increased by 70%. As a result, imports attained the peak of X units. From 2021 to 2022, the growth of imports remained at a lower figure.

In value terms, primary cell and battery imports reduced to $X in 2022. Overall, imports continue to indicate a noticeable curtailment. The pace of growth appeared the most rapid in 2019 with an increase of 88% against the previous year. Over the period under review, imports hit record highs at $X in 2020; however, from 2021 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, China (X units) constituted the largest supplier of primary cell and battery to Nigeria, with a 70% share of total imports. Moreover, primary cell and battery imports from China exceeded the figures recorded by the second-largest supplier, Taiwan (Chinese) (X units), sixfold. The third position in this ranking was taken by Switzerland (X units), with a 4.4% share.

From 2012 to 2022, the average annual growth rate of volume from China amounted to -11.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Taiwan (Chinese) (+23.9% per year) and Switzerland (+27.7% per year).

In value terms, China ($X) constituted the largest supplier of primary cells and batteries to Nigeria, comprising 35% of total imports. The second position in the ranking was held by Taiwan (Chinese) ($X), with a 2.8% share of total imports. It was followed by Switzerland, with a 1.6% share.

From 2012 to 2022, the average annual growth rate of value from China totaled -7.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Taiwan (Chinese) (+21.5% per year) and Switzerland (+29.1% per year).

Import Prices by Country

In 2022, the average primary cell and battery import price amounted to $X per unit, jumping by 91% against the previous year. In general, the import price enjoyed a remarkable increase. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was South Africa ($X per unit), while the price for Taiwan (Chinese) ($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 (+3.9%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform