Report Update Nov 1, 2024

Nigeria - Semiconductor Light Emitting Diodes (LEDs) - Market Analysis, Forecast, Size, Trends and Insights

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Nigeria: Semiconductor Led Market 2024

Semiconductor Led Market Size in Nigeria

In 2021, the Nigerien semiconductor LED market decreased by -78.3% to $X, falling for the second year in a row after two years of growth. Overall, consumption continues to indicate a abrupt setback. Over the period under review, the market attained the peak level at $X in 2019; however, from 2020 to 2021, consumption stood at a somewhat lower figure.

Semiconductor Led Exports

Exports from Nigeria

In 2021, after two years of growth, there was significant decline in overseas shipments of semiconductor light emitting diodes (LEDs), when their volume decreased by -89.2% to X units. Over the period under review, exports, however, recorded a significant increase. The growth pace was the most rapid in 2016 with an increase of 778%. As a result, the exports reached the peak of X units. From 2017 to 2021, the growth of the exports remained at a somewhat lower figure.

In value terms, semiconductor LED exports contracted remarkably to $X in 2021. Overall, exports, however, continue to indicate tangible growth. The most prominent rate of growth was recorded in 2020 when exports increased by 494%. As a result, the exports attained the peak of $X, and then contracted significantly in the following year.

Exports by Country

Benin (X units) was the main destination for semiconductor LED exports from Nigeria, accounting for a 90% share of total exports. Moreover, semiconductor LED exports to Benin exceeded the volume sent to the second major destination, Niger (X units), tenfold.

From 2012 to 2021, the average annual growth rate of volume to Benin amounted to +11.0%.

In value terms, the largest markets for semiconductor LED exported from Nigeria were Benin ($X) and Niger ($X).

Niger, with a CAGR of +66.8%, saw the highest growth rate of the value of exports, in terms of the main countries of destination over the period under review.

Export Prices by Country

In 2021, the average semiconductor LED export price amounted to $X per unit, falling by -26% against the previous year. Over the period under review, the export price saw a deep contraction. The most prominent rate of growth was recorded in 2020 when the average export price increased by 68% against the previous year. The export price peaked at $X per unit in 2013; however, from 2014 to 2021, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Niger ($X per unit), while the average price for exports to Benin amounted to $X per unit.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Niger (+20.9%), while the prices for the other major destinations experienced a decline.

Semiconductor Led Imports

Imports into Nigeria

In 2021, supplies from abroad of semiconductor light emitting diodes (LEDs) decreased by -78.5% to X units, falling for the second consecutive year after two years of growth. Overall, imports showed a abrupt curtailment. The most prominent rate of growth was recorded in 2014 when imports increased by 149%. Imports peaked at X units in 2019; however, from 2020 to 2021, imports failed to regain momentum.

In value terms, semiconductor LED imports shrank notably to $X in 2021. In general, imports continue to indicate a deep reduction. The most prominent rate of growth was recorded in 2014 with an increase of 173%. Over the period under review, imports reached the maximum at $X in 2019; however, from 2020 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, China (X units) constituted the largest supplier of semiconductor LED to Nigeria, accounting for a 79% share of total imports. Moreover, semiconductor LED imports from China exceeded the figures recorded by the second-largest supplier, India (X units), sevenfold. The third position in this ranking was taken by Saudi Arabia (X units), with a 2.3% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from China amounted to -1.7%. The remaining supplying countries recorded the following average annual rates of imports growth: India (+35.3% per year) and Saudi Arabia (+13.6% per year).

In value terms, China ($X) constituted the largest supplier of semiconductor light emitting diodes (LEDs) to Nigeria, comprising 84% of total imports. The second position in the ranking was held by India ($X), with a 4.5% share of total imports. It was followed by Spain, with a 3.4% share.

From 2012 to 2021, the average annual rate of growth in terms of value from China amounted to -1.8%. The remaining supplying countries recorded the following average annual rates of imports growth: India (+30.0% per year) and Spain (+16.7% per year).

Import Prices by Country

The average semiconductor LED import price stood at $X per unit in 2021, leveling off at the previous year. In general, the import price, however, recorded a relatively flat trend pattern. The growth pace was the most rapid in 2018 an increase of 12% against the previous year. The import price peaked at $X per unit in 2012; however, from 2013 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, amid the top importers, the country with the highest price was Belgium ($X per unit), while the price for India ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Belgium (+16.2%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for semiconductor light emitting diodes (leds) in the world?

The country with the largest volume of semiconductor led consumption was China, accounting for 40% of total volume. Moreover, semiconductor led consumption in China exceeded the figures recorded by the second-largest consumer, Spain, fivefold. India ranked third in terms of total consumption with a 7.2% share.

What are the largest producers of semiconductor light emitting diodes (leds) in the world?

China remains the largest semiconductor led producing country worldwide, comprising approx. 48% of total volume. Moreover, semiconductor led production in China exceeded the figures recorded by the second-largest producer, Taiwan Chinese), fivefold. The third position in this ranking was occupied by Japan, with a 4.7% share.

What are the leading suppliers of semiconductor light emitting diodes (leds) to Nigeria?

In value terms, China constituted the largest supplier of semiconductor led to Nigeria, comprising 86% of total imports. The second position in the ranking was occupied by India, with a 2.3% share of total imports.

What are the leading importers of semiconductor light emitting diodes (leds) from Nigeria?

In value terms, Niger remains the key foreign market for semiconductor led exports from Nigeria, comprising 83% of total exports. The second position in the ranking was occupied by Benin, with an 8.1% share of total exports.

What is the average export price for semiconductor light emitting diodes (leds) in Nigeria?

The average semiconductor led export price stood at $less than 0.1 per unit in 2021, falling by -16.6% against the previous year.

What is the average import price for semiconductor light emitting diodes (leds) in Nigeria?

In 2021, the average semiconductor led import price amounted to $39 per thousand units, with a decrease of -5.8% against the previous year.

This report provides an in-depth analysis of the semiconductor led 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 26112220 - Semiconductor light emitting diodes (LEDs)

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