Nigeria: Liquid Dispensing Pump Market 2024

Liquid Dispensing Pump Market Size in Nigeria

In 2021, the Nigerien liquid dispensing pump market increased by 103% to $X, rising for the fifth year in a row after two years of decline. In general, consumption posted a significant expansion. Liquid dispensing pump consumption peaked in 2021 and is likely to see steady growth in the immediate term.

Liquid Dispensing Pump Exports

Exports from Nigeria

In 2021, shipments abroad of pumps for dispensing liquids increased by 58% to X units, rising for the second consecutive year after two years of decline. In general, exports recorded a noticeable increase. The most prominent rate of growth was recorded in 2020 when exports increased by 1,007% against the previous year. The exports peaked at X units in 2013; however, from 2014 to 2021, the exports remained at a lower figure.

In value terms, liquid dispensing pump exports soared to $X in 2021. Over the period under review, exports, however, recorded a slight decline. The pace of growth appeared the most rapid in 2020 with an increase of 1,924%. The exports peaked at $X in 2013; however, from 2014 to 2021, the exports remained at a lower figure.

Exports by Country

Cameroon (X units) was the main destination for liquid dispensing pump exports from Nigeria, with a 60% share of total exports. Moreover, liquid dispensing pump exports to Cameroon exceeded the volume sent to the second major destination, Norway (X units), fourfold. The UK (X units) ranked third in terms of total exports with a 9.8% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Cameroon stood at +36.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Norway (+59.5% per year) and the UK (+47.6% per year).

In value terms, the UK ($X) remains the key foreign market for pumps for dispensing liquids exports from Nigeria, comprising 69% of total exports. The second position in the ranking was held by Cote d'Ivoire ($X), with a 15% share of total exports. It was followed by Norway, with an 8% share.

From 2012 to 2021, the average annual rate of growth in terms of value to the UK amounted to +61.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Cote d'Ivoire (+102.6% per year) and Norway (+53.8% per year).

Export Prices by Country

The average liquid dispensing pump export price stood at $X per unit in 2021, reducing by -24.3% against the previous year. Overall, the export price showed a noticeable downturn. The pace of growth appeared the most rapid in 2020 an increase of 83% against the previous year. The export price peaked at $X per unit in 2014; however, from 2015 to 2021, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major export markets. In 2021, the country with the highest price was the UK ($X per unit), while the average price for exports to Cameroon ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to the United States (+40.6%), while the prices for the other major destinations experienced more modest paces of growth.

Liquid Dispensing Pump Imports

Imports into Nigeria

In 2021, supplies from abroad of pumps for dispensing liquids increased by 98% to X units, rising for the fifth year in a row after two years of decline. Overall, imports enjoyed a significant increase. The pace of growth appeared the most rapid in 2014 when imports increased by 476%. Over the period under review, imports hit record highs in 2021 and are likely to continue growth in the immediate term.

In value terms, liquid dispensing pump imports skyrocketed to $X in 2021. In general, imports showed a significant expansion. The pace of growth appeared the most rapid in 2014 with an increase of 760%. Over the period under review, imports reached the peak figure in 2021 and are likely to continue growth in years to come.

Imports by Country

In 2021, Norway (X units) constituted the largest supplier of liquid dispensing pump to Nigeria, accounting for a 49% share of total imports. Moreover, liquid dispensing pump imports from Norway exceeded the figures recorded by the second-largest supplier, China (X units), sixfold. The United Arab Emirates (X units) ranked third in terms of total imports with a 7.4% share.

From 2012 to 2021, the average annual growth rate of volume from Norway amounted to +126.7%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+37.7% per year) and the United Arab Emirates (+50.0% per year).

In value terms, Norway ($X) constituted the largest supplier of pumps for dispensing liquids to Nigeria, comprising 35% of total imports. The second position in the ranking was held by the United States ($X), with a 14% share of total imports. It was followed by the United Arab Emirates, with an 11% share.

From 2012 to 2021, the average annual growth rate of value from Norway totaled +116.9%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (+22.6% per year) and the United Arab Emirates (+87.5% per year).

Import Prices by Country

The average liquid dispensing pump import price stood at $X per unit in 2021, with an increase of 9.9% against the previous year. Overall, the import price, however, continues to indicate a slight descent. The pace of growth appeared the most rapid in 2014 when the average import price increased by 49% against the previous year. Over the period under review, average import prices hit record highs at $X per unit in 2015; however, from 2016 to 2021, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was the United States ($X per unit), while the price for Benin ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (+25.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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