Nigeria: Market for Reel Fed Offset Printing Machinery 2024

Market Size for Reel Fed Offset Printing Machinery in Nigeria

After two years of decline, the Nigerien market for reel fed offset printing machinery increased by 35% to $X in 2022. Over the period under review, consumption posted a strong increase. As a result, consumption attained the peak level of $X. From 2015 to 2022, the growth of the market remained at a lower figure.

Production of Reel Fed Offset Printing Machinery in Nigeria

In value terms, reel fed offset printing machinery production stood at $X in 2022 estimated in export price. The total output value increased at an average annual rate of +1.8% from 2012 to 2022; the trend pattern remained consistent, with only minor fluctuations being observed throughout the analyzed period. The most prominent rate of growth was recorded in 2014 with an increase of 11%. Reel fed offset printing machinery production peaked at $X in 2020; however, from 2021 to 2022, production stood at a somewhat lower figure.

Exports of Reel Fed Offset Printing Machinery

Exports from Nigeria

In 2022, the amount of reel fed offset printing machinery exported from Nigeria stood at X units, stabilizing at the year before. Over the period under review, exports continue to indicate a perceptible shrinkage. The most prominent rate of growth was recorded in 2015 with an increase of 320% against the previous year. As a result, the exports reached the peak of X units. From 2016 to 2022, the growth of the exports remained at a lower figure.

In value terms, reel fed offset printing machinery exports rose rapidly to $X in 2022. Overall, exports saw a abrupt decline. The most prominent rate of growth was recorded in 2014 when exports increased by 2,331%. Over the period under review, the exports attained the maximum at $X in 2015; however, from 2016 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Ghana (X units), Cote d'Ivoire (X units) and Benin (X units) were the main destinations of reel fed offset printing machinery exports from Nigeria, with a combined 75% share of total exports.

From 2012 to 2022, the biggest increases were recorded for Ghana (with a CAGR of 0.0%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Benin ($X), Ghana ($X) and Niger ($X) were the largest markets for reel fed offset printing machinery exported from Nigeria worldwide, together accounting for 99% of total exports.

Ghana, with a CAGR of +51.4%, recorded the highest growth rate of the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced mixed trend patterns.

Export Prices by Country

In 2022, the average export price for reel fed offset printing machinery amounted to $X per unit, with an increase of 14% against the previous year. Overall, the export price, however, saw a abrupt setback. The most prominent rate of growth was recorded in 2014 when the average export price increased by 2,331%. As a result, the export price attained the peak level of $X per unit. From 2015 to 2022, the average export prices remained at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Benin ($X per unit), while the average price for exports to Cote d'Ivoire ($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 Ghana (+51.4%), while the prices for the other major destinations experienced mixed trend patterns.

Imports of Reel Fed Offset Printing Machinery

Imports into Nigeria

In 2022, purchases abroad of reel fed offset printing machinery was finally on the rise to reach X units after two years of decline. Overall, imports continue to indicate a prominent expansion. The most prominent rate of growth was recorded in 2014 with an increase of 341%. As a result, imports attained the peak of X units. From 2015 to 2022, the growth of imports failed to regain momentum.

In value terms, reel fed offset printing machinery imports reduced to $X in 2022. In general, imports, however, showed a noticeable descent. The most prominent rate of growth was recorded in 2013 when imports increased by 178%. Over the period under review, imports hit record highs at $X in 2014; however, from 2015 to 2022, imports stood at a somewhat lower figure.

Imports by Country

China (X units), Japan (X units) and Germany (X units) were the main suppliers of reel fed offset printing machinery imports to Nigeria, together accounting for 83% of total imports. The Netherlands, the United States and the UK lagged somewhat behind, together accounting for a further 8%.

From 2012 to 2022, the biggest increases were recorded for the Netherlands (with a CAGR of +38.5%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, China ($X), Japan ($X) and Germany ($X) appeared to be the largest reel fed offset printing machinery suppliers to Nigeria, with a combined 74% share of total imports. The United States, the UK and the Netherlands lagged somewhat behind, together accounting for a further 3.7%.

The Netherlands, with a CAGR of +22.0%, saw the highest rates of growth with regard to the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average import price for reel fed offset printing machinery stood at $X per unit in 2022, which is down by -36.2% against the previous year. Over the period under review, the import price saw a deep slump. The most prominent rate of growth was recorded in 2016 an increase of 78% against the previous year. The import price peaked at $X per unit in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was the United States ($X per unit), while the price for the Netherlands ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+14.8%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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