Nigeria - Ball Bearings - Market Analysis, Forecast, Size, Trends And Insights
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View PricingBall Bearing Price in Nigeria - 2022
Contents:
- Ball Bearing Price in Nigeria (CIF) - 2022
- Ball Bearing Price in Nigeria (FOB) - 2022
- Ball Bearing Imports in Nigeria
- Ball Bearing Exports in Nigeria
Ball Bearing Price in Nigeria (CIF) - 2022
The import price in Nigeria stood at $2,698 per ton in 2022, jumping by 48% against the previous year. In general, the import price saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2014 an increase of 1,367% against the previous year. As a result, import price attained the peak level of $21,373 per ton. From 2015 to 2022, the import prices remained at a somewhat lower figure.
Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was China ($26,401 per ton), while Indonesia ($7,186 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+2.0%), while the other leaders experienced mixed trends in the import price figures.
Ball Bearing Price in Nigeria (FOB) - 2022
The export price in Nigeria stood at $13,863 per ton in 2022, shrinking by -14.9% against the previous year. In general, the export price, however, showed a resilient expansion. The growth pace was the most rapid in 2018 when the export price increased by 186% against the previous year. The Nigeria export price peaked at $16,295 per ton in 2021, and then contracted in the following year.
Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was the United States ($201,523 per ton), while China ($6,818 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+23.6%), while the other leaders experienced more modest paces of growth.
Ball Bearing Imports in Nigeria
In 2022, the amount of ball bearings imported into Nigeria rose markedly to 12K tons, growing by 7.3% on 2021. Overall, imports enjoyed a significant increase. The most prominent rate of growth was recorded in 2020 with an increase of 117% against the previous year. Nigeria imports peaked in 2022 and are expected to retain growth in years to come.
In value terms, ball bearing imports surged to $33M in 2022. In general, imports saw a significant expansion. As a result, imports attained the peak and are likely to continue growth in the immediate term.
| Import of Ball Bearing in Nigeria (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Germany | 1,837 | 1,453 | 1,903 | 1,966 | 2.3% |
| China | 1,410 | 1,531 | 2,096 | 1,929 | 11.0% |
| United States | 1,254 | 1,000 | 1,289 | 1,375 | 3.1% |
| India | 435 | 343 | 533 | 619 | 12.5% |
| Mexico | 518 | 433 | 583 | 595 | 4.7% |
| Italy | 527 | 418 | 563 | 588 | 3.7% |
| Netherlands | 445 | 432 | 519 | 518 | 5.2% |
| France | 514 | 380 | 460 | 467 | -3.1% |
| Japan | 421 | 348 | 416 | 441 | 1.6% |
| Brazil | 244 | 226 | 333 | 393 | 17.2% |
| South Korea | 348 | 302 | 401 | 351 | 0.3% |
| Indonesia | 246 | 178 | 237 | 256 | 1.3% |
| Russia | 246 | 175 | 212 | 194 | -7.6% |
| Others | -8,428.7 | -7,194.3 | -9,524.8 | -9,657.1 | 4.6% |
| Total | 16.7 | 23.9 | 20.9 | 33.3 | 25.9% |
Top Suppliers of Ball Bearing to Nigeria in 2022:
- Germany (128.3K tons)
- United States (99.4K tons)
- India (85.5K tons)
- China (73.1K tons)
- Italy (45.0K tons)
- Mexico (44.6K tons)
- Netherlands (44.4K tons)
- Brazil (42.5K tons)
- Indonesia (35.6K tons)
- France (32.4K tons)
- Russia (24.9K tons)
- South Korea (23.1K tons)
- Japan (21.7K tons)
Ball Bearing Exports in Nigeria
Ball bearing exports from Nigeria soared to 7.3 tons in 2022, increasing by 165% compared with 2021. In general, exports recorded mild growth.
In value terms, ball bearing exports soared to $102K in 2022. Over the period under review, exports, however, continue to indicate a pronounced decrease.
| Export of Ball Bearing in Nigeria (Billion USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| China | 2.6 | 2.5 | 3.5 | 3.6 | 11.5% |
| Japan | 1.8 | 1.5 | 2.0 | 1.9 | 1.8% |
| Germany | 1.7 | 1.6 | 2.0 | 1.9 | 3.8% |
| Italy | 0.9 | 0.7 | 0.9 | 0.9 | 0.0% |
| France | 0.8 | 0.6 | 0.8 | 0.7 | -4.4% |
| Netherlands | 0.4 | 0.4 | 0.5 | 0.6 | 14.5% |
| Thailand | 0.4 | 0.4 | 0.5 | 0.5 | 7.7% |
| South Korea | 0.5 | 0.4 | 0.5 | 0.4 | -7.2% |
| Poland | 0.2 | 0.2 | 0.2 | 0.2 | 0.0% |
| Others | -9.3 | -8.3 | -10.8 | -10.7 | 4.8% |
| Total | N/A | N/A | N/A | N/A | 0% |
Top Export Markets for Ball Bearing from Nigeria in 2022:
- China (534.7K tons)
- Japan (106.6K tons)
- Germany (70.7K tons)
- Italy (61.0K tons)
- South Korea (38.3K tons)
- France (35.5K tons)
- Netherlands (35.2K tons)
- Poland (24.6K tons)
- Thailand (19.3K tons)
This report provides an in-depth analysis of the ball bearing 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 28151030 - Ball bearings
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
- REPORT DESCRIPTION
- RESEARCH METHODOLOGY AND AI PLATFORM
- DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
- GLOSSARY AND SPECIFIC TERMS
-
2. EXECUTIVE SUMMARY
A Quick Overview of Market Performance
- KEY FINDINGS
- MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
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3. MARKET OVERVIEW
Understanding the Current State of The Market and Its Prospects
- MARKET SIZE
- MARKET STRUCTURE
- TRADE BALANCE
- PER CAPITA CONSUMPTION
- MARKET FORECAST TO 2030
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4. MOST PROMISING PRODUCT
Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO- TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
- BEST-SELLING PRODUCTS
- MOST CONSUMED PRODUCT
- MOST TRADED PRODUCT
- MOST PROFITABLE PRODUCT FOR EXPORT
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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- TOP COUNTRIES TO SOURCE YOUR PRODUCT
- TOP PRODUCING COUNTRIES
- TOP EXPORTING COUNTRIES
- LOW-COST EXPORTING COUNTRIES
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6. MOST PROMISING OVERSEAS MARKETS
Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO- TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
- TOP CONSUMING MARKETS
- UNSATURATED MARKETS
- TOP IMPORTING MARKETS
- MOST PROFITABLE MARKETS
7. PRODUCTION
The Latest Trends and Insights into The Industry
- PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
- IMPORTS FROM 2012–2023
- IMPORTS BY COUNTRY
- IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
- EXPORTS FROM 2012–2023
- EXPORTS BY COUNTRY
- EXPORT PRICES BY COUNTRY
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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
- Key Findings In 2023
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Per Capita Consumption In 2012-2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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LIST OF FIGURES
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
- Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
- Trade Balance, In Physical Terms, 2012-2023
- Trade Balance, In Value Terms, 2012-2023
- Per Capita Consumption, 2012-2023
- Market Volume Forecast to 2030
- Market Value Forecast to 2030
- Products: Market Size And Growth, By Type
- Products: Average Per Capita Consumption, By Type
- Products: Exports And Growth, By Type
- Products: Export Prices And Growth, By Type
- Production Volume And Growth
- Exports And Growth
- Export Prices And Growth
- Market Size And Growth
- Per Capita Consumption
- Imports And Growth
- Import Prices
- Production, In Physical Terms, 2012–2023
- Production, In Value Terms, 2012–2023
- Imports, In Physical Terms, 2012–2023
- Imports, In Value Terms, 2012–2023
- Imports, In Physical Terms, By Country, 2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, 2012–2023
- Exports, In Value Terms, 2012–2023
- Exports, In Physical Terms, By Country, 2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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