Report Update Nov 1, 2024

Nigeria - Static Converters - Market Analysis, Forecast, Size, Trends and Insights

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Nigeria: Static Converter Market 2024

Static Converter Market Size in Nigeria

In 2021, the Nigerien static converter market decreased by -50.1% to $X, falling for the second year in a row after four years of growth. Over the period under review, consumption, however, recorded a buoyant expansion. Static converter consumption peaked at $X in 2019; however, from 2020 to 2021, consumption stood at a somewhat lower figure.

Static Converter Exports

Exports from Nigeria

In 2021, shipments abroad of static converters decreased by -52.2% to X units, falling for the third consecutive year after three years of growth. Overall, exports faced a abrupt decline. The pace of growth was the most pronounced in 2016 with an increase of 668% against the previous year. The exports peaked at X units in 2018; however, from 2019 to 2021, the exports remained at a lower figure.

In value terms, static converter exports expanded notably to $X in 2021. Over the period under review, exports recorded a deep setback. The growth pace was the most rapid in 2016 with an increase of 369%. The exports peaked at $X in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

Exports by Country

Benin (X units), Hungary (X units) and China (X units) were the main destinations of static converter exports from Nigeria, together comprising 25% of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by China (with a CAGR of +48.8%), while the other leaders experienced mixed trend patterns.

In value terms, Hungary ($X), China ($X) and the Netherlands ($X) were the largest markets for static converter exported from Nigeria worldwide, together accounting for 25% of total exports.

Among the main countries of destination, Hungary, with a CAGR of +43.1%, recorded the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the average static converter export price amounted to $X per unit, growing by 132% against the previous year. Over the period under review, the export price, however, continues to indicate a abrupt curtailment. The export price peaked at $X per unit in 2012; however, from 2013 to 2021, the export prices remained at a lower figure.

Prices varied noticeably country of destination: the country with the highest price was the UK ($X per unit), while the average price for exports to Benin ($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 Ghana (+14.9%), while the prices for the other major destinations experienced more modest paces of growth.

Static Converter Imports

Imports into Nigeria

In 2021, overseas purchases of static converters decreased by -50.2% to X units, falling for the second year in a row after four years of growth. Overall, imports, however, saw a strong expansion. The pace of growth appeared the most rapid in 2018 when imports increased by 895% against the previous year. Imports peaked at X units in 2019; however, from 2020 to 2021, imports failed to regain momentum.

In value terms, static converter imports contracted significantly to $X in 2021. Over the period under review, imports, however, recorded notable growth. The growth pace was the most rapid in 2019 when imports increased by 77%. As a result, imports attained the peak of $X. From 2020 to 2021, the growth of imports remained at a lower figure.

Imports by Country

In 2021, China (X units) constituted the largest static converter supplier to Nigeria, with a 11% share of total imports. Moreover, static converter imports from China exceeded the figures recorded by the second-largest supplier, Germany (X units), more than tenfold.

From 2012 to 2021, the average annual rate of growth in terms of volume from China was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+14.9% per year) and Turkey (+0.7% per year).

In value terms, China ($X) constituted the largest supplier of static converters to Nigeria, comprising 52% of total imports. The second position in the ranking was taken by Germany ($X), with a 2.9% share of total imports.

From 2012 to 2021, the average annual rate of growth in terms of value from China stood at -2.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+4.1% per year) and Turkey (+8.4% per year).

Import Prices by Country

In 2021, the average static converter import price amounted to $X per unit, growing by 22% against the previous year. Over the period under review, the import price, however, continues to indicate a pronounced decrease. The pace of growth was the most pronounced in 2014 an increase of 1,185%. The import price peaked at $X per unit in 2015; however, from 2016 to 2021, import prices remained at a lower figure.

Average prices varied somewhat amongst the major supplying countries. In 2021, the country with the highest price was Germany ($X per unit), while the price for Turkey ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Turkey (+7.7%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for static converters in the world?

The countries with the highest volumes of static converter consumption in 2020 were China, the United States and the Netherlands, with a combined 33% share of global consumption. These countries were followed by Hong Kong SAR, Italy, Japan, India, Germany, Indonesia, South Korea, Mexico, Vietnam and the UK, which together accounted for a further 35%.

What are the largest producers of static converters in the world?

China remains the largest static converter producing country worldwide, accounting for 60% of total volume. Moreover, static converter production in China exceeded the figures recorded by the second-largest producer, the United States, ninefold. Italy ranked third in terms of total production with a 3.5% share.

What are the leading suppliers of static converters to Nigeria?

In value terms, China constituted the largest supplier of static converter to Nigeria, comprising 58% of total imports. The second position in the ranking was occupied by Poland, with a 5% share of total imports. It was followed by Germany, with a 2% share.

What are the leading importers of static converters from Nigeria?

In value terms, the largest markets for static converter exported from Nigeria were Canada, the Netherlands and the UK, with a combined 50% share of total exports. Benin, Sweden, Hungary and South Africa lagged somewhat behind, together accounting for a further 19%.

What is the average export price for static converters in Nigeria?

In 2020, the average static converter export price amounted to $6.1 per unit, increasing by 62% against the previous year.

What is the average import price for static converters in Nigeria?

The average static converter import price stood at $2 per unit in 2020, therefore, remained relatively stable against the previous year.

This report provides an in-depth analysis of the static converter 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 27115023 -
Prodcom 27115030 - Rectifiers (excluding of a kind used with telecommunication apparatus, automatic data-processing machines and units thereof)
Prodcom 27115033 - Accumulator chargers
Prodcom 27115035 -
Prodcom 27115040 - Power supply units for telecommunication apparatus, a utomatic data-processing machines and units thereof
Prodcom 27115053 - Inverters having a power handling capacity . 7,5 kVA
Prodcom 27115055 - Inverters having a power handling capacity > 7,5 kVA
Prodcom 27115070 - Static converters (excluding polycrystalline semiconductors, c onverters specially designed for welding, without welding equipment, accumulator chargers, rectifiers, inverters)
Prodcom 27904130 -
Prodcom 27904140 -
Prodcom 27904153 -
Prodcom 27904155 -
Prodcom 27904170 -
Prodcom 27904190 -

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