Report Update Nov 1, 2024

Nigeria - Self-Propelled Earth Moving, Excavating Machinery - Market Analysis, Forecast, Size, Trends and Insights

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Nigeria: Self-Propelled Excavating Machinery Market 2024

Self-Propelled Excavating Machinery Market Size in Nigeria

In 2021, the Nigerien self-propelled excavating machinery market decreased by -15.2% to $X for the first time since 2017, thus ending a three-year rising trend. Overall, consumption, however, enjoyed a significant increase. Over the period under review, the market hit record highs at $X in 2020, and then declined rapidly in the following year.

Self-Propelled Excavating Machinery Exports

Exports from Nigeria

In 2021, self-propelled excavating machinery exports from Nigeria stood at less than X units, approximately reflecting the previous year. Overall, exports saw a relatively flat trend pattern.

In value terms, self-propelled excavating machinery exports fell remarkably to $X in 2021. Over the period under review, exports recorded a sharp contraction. The exports peaked at $X in 2020, and then declined markedly in the following year.

Self-Propelled Excavating Machinery Imports

Imports into Nigeria

After three years of growth, supplies from abroad of self-propelled earth moving, excavating machinery decreased by -15.2% to X units in 2021. Over the period under review, imports, however, continue to indicate a significant increase. The growth pace was the most rapid in 2013 with an increase of 345% against the previous year. Over the period under review, imports reached the peak figure at X units in 2020, and then declined notably in the following year.

In value terms, self-propelled excavating machinery imports dropped significantly to $X in 2021. In general, imports, however, enjoyed a significant expansion. The growth pace was the most rapid in 2013 when imports increased by 762%. Over the period under review, imports attained the maximum at $X in 2020, and then declined dramatically in the following year.

Imports by Country

In 2021, China (X units) constituted the largest supplier of self-propelled excavating machinery to Nigeria, with a 58% share of total imports. Moreover, self-propelled excavating machinery imports from China exceeded the figures recorded by the second-largest supplier, Turkey (X units), ninefold. Spain (X units) ranked third in terms of total imports with a 6.1% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from China totaled +86.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Turkey (+53.0% per year) and Spain (+61.0% per year).

In value terms, China ($X) constituted the largest supplier of self-propelled earth moving, excavating machinery to Nigeria, comprising 71% of total imports. The second position in the ranking was taken by the United States ($X), with a 10% share of total imports. It was followed by India, with a 4.1% share.

From 2012 to 2021, the average annual rate of growth in terms of value from China totaled +85.0%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (+84.3% per year) and India (+95.4% per year).

Import Prices by Country

In 2021, the average self-propelled excavating machinery import price amounted to $X per unit, dropping by -19.1% against the previous year. Over the period under review, the import price, however, continues to indicate a resilient increase. The pace of growth was the most pronounced in 2017 when the average import price increased by 371% against the previous year. The import price peaked at $X per unit in 2020, and then declined significantly in the following year.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Spain (+34.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for self-propelled earth moving, excavating machinery in the world?

The countries with the highest volumes of self-propelled excavating machinery consumption in 2021 were China, France and Spain, together accounting for 39% of global consumption. These countries were followed by Belgium, the Czech Republic, the UK, Indonesia, Japan, Singapore, Denmark, Thailand, Australia and the Netherlands, which together accounted for a further 34%.

What are the largest producers of self-propelled earth moving, excavating machinery in the world?

The country with the largest volume of self-propelled excavating machinery production was China, comprising approx. 35% of total volume. Moreover, self-propelled excavating machinery production in China exceeded the figures recorded by the second-largest producer, South Korea, twofold. The third position in this ranking was occupied by Spain, with an 8.8% share.

What are the leading suppliers of self-propelled earth moving, excavating machinery to Nigeria?

In value terms, China constituted the largest supplier of self-propelled excavating machinery to Nigeria, comprising 64% of total imports. The second position in the ranking was occupied by Belgium, with a 7.9% share of total imports. It was followed by India, with a 7.8% share.

What is the average export price for self-propelled earth moving, excavating machinery in Nigeria?

In 2020, the average self-propelled excavating machinery export price amounted to $3,510 per unit, rising by 190% against the previous year.

What is the average import price for self-propelled earth moving, excavating machinery in Nigeria?

In 2021, the average self-propelled excavating machinery import price amounted to $4,031 per unit, jumping by 28% against the previous year.

This report provides an in-depth analysis of the self-propelled excavating machinery 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 28922750 - Self-propelled earth moving, excavating... machinery, n.e.c.

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