Report Update Nov 1, 2024

Nigeria - Winding Wire for Electrical Purposes - Market Analysis, Forecast, Size, Trends and Insights

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Nigeria: Winding Wire Market 2024

Winding Wire Market Size in Nigeria

The Nigerien winding wire market surged to $X in 2022, rising by 364% 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 enjoyed a strong increase. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Winding Wire Exports

Exports from Nigeria

In 2022, the amount of winding wire for electrical purposes exported from Nigeria contracted rapidly to X tons, with a decrease of -27.7% on the year before. Over the period under review, exports, however, posted a strong expansion. The pace of growth appeared the most rapid in 2015 with an increase of 417%. As a result, the exports reached the peak of X tons. From 2016 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, winding wire exports dropped sharply to $X in 2022. In general, exports showed a drastic downturn. The pace of growth was the most pronounced in 2015 with an increase of 211% against the previous year. As a result, the exports attained the peak of $X. From 2016 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

Ghana (X tons), Benin (X tons) and Niger (X kg) were the main destinations of winding wire exports from Nigeria, with a combined 97% share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Niger (with a CAGR of +85.3%), while the other leaders experienced mixed trend patterns.

In value terms, Ghana ($X), Niger ($X) and Benin ($X) constituted the largest markets for winding wire exported from Nigeria worldwide, with a combined 87% share of total exports.

Niger, with a CAGR of +100.0%, recorded the highest growth rate of the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced mixed trend patterns.

Export Prices by Country

The average winding wire export price stood at $X per ton in 2022, growing by 6.5% against the previous year. Over the period under review, the export price, however, recorded a deep downturn. The most prominent rate of growth was recorded in 2013 when the average export price increased by 24%. As a result, the export price reached the peak level of $X per ton. From 2014 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 Tanzania ($X per ton), while the average price for exports to Benin ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Tanzania (+8.7%), while the prices for the other major destinations experienced mixed trend patterns.

Winding Wire Imports

Imports into Nigeria

In 2022, the amount of winding wire for electrical purposes imported into Nigeria soared to X tons, with an increase of 313% against the year before. Overall, imports saw a remarkable increase. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, winding wire imports surged to $X in 2022. Over the period under review, imports posted a remarkable increase. Imports peaked at $X in 2015; however, from 2016 to 2022, imports failed to regain momentum.

Imports by Country

India (X tons), China (X tons) and Australia (X tons) were the main suppliers of winding wire imports to Nigeria, together comprising 93% of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by India (with a CAGR of +28.1%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest winding wire suppliers to Nigeria were China ($X), India ($X) and Australia ($X), with a combined 78% share of total imports.

Among the main suppliers, India, with a CAGR of +22.9%, 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

In 2022, the average winding wire import price amounted to $X per ton, with an increase of 39% against the previous year. In general, the import price, however, continues to indicate a slight shrinkage. The most prominent rate of growth was recorded in 2015 when the average import price increased by 44% against the previous year. As a result, import price attained the peak level of $X per ton. From 2016 to 2022, the average import prices remained at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Turkey ($X per ton), while the price for Australia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Turkey (+12.0%), 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 winding wire for electrical purposes in the world?

The countries with the highest volumes of in 2021 were China, the United States and Italy, together comprising 43% of global consumption. India, Japan, Indonesia, Germany, Brazil, South Korea, Mexico, Vietnam and Poland lagged somewhat behind, together comprising a further 29%.

What are the largest producers of winding wire for electrical purposes in the world?

China remains the largest winding wire producing country worldwide, comprising approx. 27% of total volume. Moreover, winding wire production in China exceeded the figures recorded by the second-largest producer, the United States, twofold. The third position in this ranking was occupied by Italy, with a 9.1% share.

What are the leading suppliers of winding wire for electrical purposes to Nigeria?

In value terms, India constituted the largest supplier of winding wire to Nigeria, comprising 79% of total imports. The second position in the ranking was occupied by Malaysia, with a 12% share of total imports.

What are the leading importers of winding wire for electrical purposes from Nigeria?

In value terms, Benin remains the key foreign market for winding wire exports from Nigeria.

What is the average export price for winding wire for electrical purposes in Nigeria?

The average winding wire export price stood at $4,996 per ton in 2021, with an increase of 1.9% against the previous year.

What is the average import price for winding wire for electrical purposes in Nigeria?

The average winding wire import price stood at $8,615 per ton in 2021, with an increase of 63% against the previous year.

This report provides an in-depth analysis of the winding wire 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 27321100 - Winding wire for electrical purposes

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