Report Update Nov 1, 2024

Nigeria - Steam Turbines and Other Vapor Turbines - Market Analysis, Forecast, Size, Trends and Insights

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Nigeria: Steam Turbine Market 2024

Steam Turbine Market Size in Nigeria

The Nigerien steam turbine market declined slightly to $X in 2021, shrinking by -3.9% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Over the period under review, consumption, however, showed a prominent expansion. As a result, consumption attained the peak level of $X. From 2017 to 2021, the growth of the market failed to regain momentum.

Steam Turbine Exports

Exports from Nigeria

In 2021, overseas shipments of steam turbines and other vapor turbines decreased by 0% to X units for the first time since 2018, thus ending a two-year declining trend. Over the period under review, exports recorded a buoyant expansion. The pace of growth appeared the most rapid in 2013 when exports increased by 1,200%. Over the period under review, the exports hit record highs at X units in 2014; however, from 2015 to 2021, the exports remained at a lower figure.

In value terms, steam turbine exports reduced to $X in 2021. Overall, exports continue to indicate a abrupt setback. The smallest decline of -2.1% was in 2013. Over the period under review, the exports hit record highs at $X in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

The United States (X units) was the main destination for steam turbine exports from Nigeria, with a approx. 100% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of volume to the United States stood at +8.0%.

In value terms, the United States ($X) also remains the key foreign market for steam turbines and other vapor turbines exports from Nigeria.

From 2012 to 2021, the average annual rate of growth in terms of value to the United States totaled +7.5%.

Export Prices by Country

In 2021, the average steam turbine export price amounted to $X per unit, which is down by -9.7% against the previous year. In general, the export price continues to indicate a abrupt slump. The pace of growth was the most pronounced in 2016 when the average export price increased by 222%. The export price peaked at $X per unit in 2012; however, from 2013 to 2021, the export prices failed to regain momentum.

As there is only one major export destination, the average price level is determined by prices for the United States.

From 2012 to 2021, the rate of growth in terms of prices for France amounted to +25.2% per year.

Steam Turbine Imports

Imports into Nigeria

In 2021, approx. X units of steam turbines and other vapor turbines were imported into Nigeria; with a decrease of -2.1% compared with 2020 figures. Over the period under review, imports, however, posted a prominent expansion. The growth pace was the most rapid in 2016 with an increase of 632% against the previous year. As a result, imports reached the peak of X units. From 2017 to 2021, the growth of imports remained at a lower figure.

In value terms, steam turbine imports contracted to $X in 2021. Overall, imports, however, recorded a buoyant increase. The most prominent rate of growth was recorded in 2016 with an increase of 199% against the previous year. As a result, imports attained the peak of $X. From 2017 to 2021, the growth of imports failed to regain momentum.

Imports by Country

In 2021, Germany (X units) constituted the largest steam turbine supplier to Nigeria, accounting for a 66% share of total imports. Moreover, steam turbine imports from Germany exceeded the figures recorded by the second-largest supplier, Japan (X units), fourfold. China (X units) ranked third in terms of total imports with a 9.3% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Germany amounted to +55.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (+63.9% per year) and China (+19.1% per year).

In value terms, Japan ($X) constituted the largest supplier of steam turbines and other vapor turbines to Nigeria, comprising 56% of total imports. The second position in the ranking was held by China ($X), with a 13% share of total imports. It was followed by Brazil, with a 6.7% share.

From 2012 to 2021, the average annual rate of growth in terms of value from Japan totaled +54.8%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+49.8% per year) and Brazil (+8.9% per year).

Import Prices by Country

The average steam turbine import price stood at $X per unit in 2021, which is down by -5.2% against the previous year. Overall, the import price showed a pronounced contraction. The most prominent rate of growth was recorded in 2014 when the average import price increased by 78%. Over the period under review, average import prices attained the maximum at $X per unit in 2015; however, from 2016 to 2021, import prices stood at a somewhat lower figure.

Prices varied noticeably country of origin: the country with the highest price was the UK ($X per unit), while the price for Germany ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Greece (+93.8%), 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 steam turbines and other vapor turbines in the world?

The countries with the highest volumes of in 2021 were China, India and Indonesia, together accounting for 72% of global consumption. These countries were followed by Sweden, Turkey, Germany, Japan and Mongolia, which together accounted for a further 16%.

What are the largest producers of steam turbines and other vapor turbines in the world?

The countries with the highest volumes of in 2021 were China, India and Sweden, together comprising 82% of global production.

What are the leading suppliers of steam turbines and other vapor turbines to Nigeria?

In value terms, Japan constituted the largest supplier of steam turbine to Nigeria, comprising 52% of total imports. The second position in the ranking was occupied by India, with an 18% share of total imports. It was followed by France, with a 5.1% share.

What is the average export price for steam turbines and other vapor turbines in Nigeria?

In 2018, the average steam turbine export price amounted to $12,743 per unit, almost unchanged from the previous year.

What is the average import price for steam turbines and other vapor turbines in Nigeria?

In 2021, the average steam turbine import price amounted to $729 per unit, growing by 64% against the previous year.

This report provides an in-depth analysis of the steam turbine 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 28112130 -
Prodcom 28112150 -

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