Nigeria: Internal Combustion Engines Market 2025

Internal Combustion Engines Market Size in Nigeria

In 2021, after three years of growth, there was significant decline in the Nigerien internal combustion engines market, when its value decreased by -75.9% to $X. Overall, consumption faced a abrupt decrease. As a result, consumption reached the peak level of $X. From 2015 to 2021, the growth of the market failed to regain momentum.

Internal Combustion Engines Exports

Exports from Nigeria

Internal combustion engines exports from Nigeria soared to X units in 2021, picking up by 28% on the year before. In general, exports showed a significant increase. The most prominent rate of growth was recorded in 2019 with an increase of 172% against the previous year. As a result, the exports attained the peak of X units. From 2020 to 2021, the growth of the exports remained at a lower figure.

In value terms, internal combustion engines exports surged to $X in 2021. Overall, exports saw a prominent increase. The growth pace was the most rapid in 2017 when exports increased by 122%. Over the period under review, the exports hit record highs at $X in 2019; however, from 2020 to 2021, the exports failed to regain momentum.

Exports by Country

Democratic Republic of the Congo (X units), Angola (X units) and Gambia (X units) were the main destinations of internal combustion engines exports from Nigeria, with a combined 78% share of total exports.

From 2012 to 2021, the biggest increases were recorded for Democratic Republic of the Congo (with a CAGR of +64.1%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Angola ($X) remains the key foreign market for motor vehicles compression-ignition internal combustion piston engines exports from Nigeria, comprising 66% of total exports. The second position in the ranking was held by Democratic Republic of the Congo ($X), with a 7.9% share of total exports. It was followed by Gambia, with a 5.1% share.

From 2012 to 2021, the average annual growth rate of value to Angola totaled +23.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Democratic Republic of the Congo (+73.4% per year) and Gambia (+24.6% per year).

Export Prices by Country

The average internal combustion engines export price stood at $X per unit in 2021, growing by 15% against the previous year. In general, the export price, however, faced a abrupt descent. The pace of growth was the most pronounced in 2017 an increase of 85% against the previous year. Over the period under review, the average export prices reached the maximum at $X per unit in 2012; however, from 2013 to 2021, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major external markets. In 2021, amid the top suppliers, the country with the highest price was Angola ($X per unit), while the average price for exports to Democratic Republic of the Congo ($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 (+8.4%), while the prices for the other major destinations experienced more modest paces of growth.

Internal Combustion Engines Imports

Imports into Nigeria

After three years of growth, supplies from abroad of motor vehicles compression-ignition internal combustion piston engines decreased by -75.2% to X units in 2021. Overall, imports recorded a deep reduction. The growth pace was the most rapid in 2014 when imports increased by 108% against the previous year. As a result, imports reached the peak of X units. From 2015 to 2021, the growth of imports failed to regain momentum.

In value terms, internal combustion engines imports fell sharply to $X in 2021. In general, imports saw a deep reduction. The most prominent rate of growth was recorded in 2014 when imports increased by 80% against the previous year. As a result, imports attained the peak of $X. From 2015 to 2021, the growth of imports remained at a somewhat lower figure.

Imports by Country

China (X units), the United States (X units) and Germany (X units) were the main suppliers of internal combustion engines imports to Nigeria, together comprising 59% of total imports. These countries were followed by South Africa, Sweden, Belgium, Spain, the UK, India, Italy, Poland, Bulgaria and Malaysia, which together accounted for a further 32%.

From 2012 to 2021, the biggest increases were recorded for Sweden (with a CAGR of +37.9%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the United States ($X), South Africa ($X) and China ($X) were the largest internal combustion engines suppliers to Nigeria, together accounting for 51% of total imports.

In terms of the main suppliers, South Africa, with a CAGR of +83.9%, recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average internal combustion engines import price stood at $X per unit in 2021, jumping by 62% against the previous year. Over the period under review, the import price, however, recorded a mild contraction. The pace of growth was the most pronounced in 2016 an increase of 82%. The import price peaked at $X per unit in 2013; however, from 2014 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 South Africa ($X per unit), while the price for the UK ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by South Africa (+11.9%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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