Report Update: Apr 1, 2024

Nigeria - Automatic Circuit Breakers - Market Analysis, Forecast, Size, Trends and Insights

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Circuit Breaker Price in Nigeria - 2022

Circuit Breaker Price in Nigeria (CIF) - 2022

In June 2022, the average circuit breaker import price amounted to $24.7 per unit, picking up by 158% against the previous month. Over the period under review, the import price recorded prominent growth. The most prominent rate of growth was recorded in March 2022 an increase of 320% m-o-m. The import price peaked in June 2022.

There were significant differences in the average prices amongst the major supplying countries. In June 2022, the country with the highest price was Turkey ($67.5 per unit), while the price for Bulgaria ($4.8 per unit) was amongst the lowest.

From June 2021 to June 2022, the most notable rate of growth in terms of prices was attained by Turkey (+24.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Circuit Breaker Price in Nigeria (FOB) - 2022

The average circuit breaker export price stood at $6.2 per unit in 2022, declining by -19.8% against the previous year. In general, the export price saw a perceptible descent. The most prominent rate of growth was recorded in 2013 an increase of 309%. As a result, the export price attained the peak level of $40 per unit. From 2014 to 2022, the average export prices remained at a lower figure.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was the UK ($57 per unit), while the average price for exports to Burkina Faso ($0.3 per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to South Africa (+1.7%), while the prices for the other major destinations experienced a decline.

Circuit Breaker Imports in Nigeria

Circuit breaker imports into Nigeria totaled 3.4M units in 2022, increasing by 11% on the previous year. Over the period under review, imports posted a strong increase. The pace of growth was the most pronounced in 2020 with an increase of 252%. As a result, imports reached the peak of 8.6M units. From 2021 to 2022, the growth of imports failed to regain momentum.

In value terms, circuit breaker imports soared to $41M in 2022. In general, imports enjoyed significant growth. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Import of Circuit Breaker in Nigeria (Million USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
China	2.4	13.0	9.8	14.9	83.8%
India	3.0	1.6	3.5	6.5	29.4%
France	0.6	1.1	2.9	3.1	72.9%
United Kingdom	3.1	2.2	2.0	2.9	-2.2%
Italy	1.0	0.4	0.9	1.4	11.9%
Others	6.5	5.3	6.7	11.8	22.0%
Total	16.6	23.6	25.7	40.6	34.7%

Top Suppliers of Circuit Breaker to Nigeria in 2022:

China (2555.6K units)
India (453.5K units)
United Kingdom (108.7K units)
Italy (69.4K units)
France (65.0K units)

Circuit Breaker Exports in Nigeria

In 2022, after two years of decline, there was significant growth in shipments abroad of automatic circuit breakers, when their volume increased by 68% to 10K units. Overall, total exports indicated a strong increase from 2019 to 2022: its volume increased at an average annual rate of +16.4% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, circuit breaker exports soared to $64K in 2022. Over the period under review, exports, however, recorded a deep reduction. Over the period under review, the exports hit record highs at $106K in 2019; however, from 2020 to 2022, the exports failed to regain momentum.

Export of Circuit Breaker in Nigeria (Thousand USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
Cote d'Ivoire	58.8	48.5	26.8	34.0	-16.7%
Germany	14.8	13.1	8.6	13.1	-4.0%
Ghana	6.6	4.9	3.0	3.3	-20.6%
South Africa	N/A	N/A	1.2	3.0	150.0%
Benin	0.4	0.2	1.0	1.4	51.8%
Burkina Faso	0.9	0.9	0.5	0.6	-12.6%
Niger	0.1	0.1	0.4	0.5	71.0%
Egypt	10.9	N/A	N/A	N/A	0%
Others	13.4	12.2	5.8	7.7	-16.9%
Total	106	79.9	47.3	63.6	-15.7%

Top Export Markets for Circuit Breaker from Nigeria in 2022:

Benin (2.9K units)
Burkina Faso (2.3K units)
Cote d'Ivoire (1.6K units)
Germany (0.9K units)
Ghana (0.7K units)
South Africa (0.6K units)
Niger (0.5K units)

Source: IndexBox Market Intelligence Platform

This report provides an in-depth analysis of the circuit breaker 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 27121020 - Automatic circuit breakers
Prodcom 27122230 - Automatic circuit breakers for a voltage . 1 kV and for a current . .63 A
Prodcom 27122250 - Automatic circuit breakers for a voltage . 1 kV and for a current > .63 A
Prodcom 27122230 - Automatic circuit breakers for a voltage . 1 kV and for a current . .63 A

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