Report Update: May 1, 2024

Nigeria - Electrical Insulators - Market Analysis, Forecast, Size, Trends And Insights

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Electrical Insulator Price in Nigeria - 2022

Electrical Insulator Price in Nigeria (CIF) - 2022

In 2022, the average electrical insulator import price amounted to $107 per unit, surging by 3.6% against the previous year. Overall, the import price, however, recorded a abrupt slump. The pace of growth was the most pronounced in 2018 an increase of 54%. Over the period under review, average import prices attained the peak figure at $250 per unit in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was South Korea ($280 per unit), while the price for Poland ($21 per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Turkey (+11.3%), while the prices for the other major suppliers experienced a decline.

Electrical Insulator Price in Nigeria (FOB) - 2022

The average electrical insulator export price stood at $143 per unit in 2022, reducing by -13.9% against the previous year. Overall, the export price continues to indicate a mild setback. The pace of growth appeared the most rapid in 2014 when the average export price increased by 54%. As a result, the export price attained the peak level of $303 per unit. From 2015 to 2022, the average export prices remained at a somewhat lower figure.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Cote d'Ivoire ($159 per unit), while the average price for exports to Niger ($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 Ghana (+0.8%), while the prices for the other major destinations experienced a decline.

Electrical Insulator Imports in Nigeria

After three years of growth, supplies from abroad of electrical insulators decreased by -94.5% to 35K units in 2022. In general, imports showed a precipitous slump. The most prominent rate of growth was recorded in 2020 with an increase of 446%. Over the period under review, imports hit record highs at 633K units in 2021, and then reduced dramatically in the following year.

In value terms, electrical insulator imports shrank remarkably to $3.7M in 2022. Over the period under review, imports saw a dramatic setback. The pace of growth was the most pronounced in 2020 with an increase of 437%. Imports peaked at $65M in 2021, and then fell rapidly in the following year.

Import of Electrical Insulator in Nigeria (Million USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
China	8.6	53.6	60.3	2.0	-38.5%
Turkey	0.2	1.1	1.1	0.2	0.0%
South Korea	0.2	0.7	0.5	0.2	0.0%
Poland	0.2	0.2	0.2	0.1	-20.6%
Taiwan (Chinese)	N/A	N/A	0.1	N/A	0%
Others	1.5	1.9	3.0	1.2	-7.2%
Total	10.7	57.5	65.2	3.7	-29.8%

Top Suppliers of Electrical Insulator to Nigeria in 2022:

China (24.5K units)
Poland (4.4K units)
Turkey (1.5K units)
South Korea (0.9K units)
Taiwan (Chinese) (0.8K units)

Electrical Insulator Exports in Nigeria

In 2022, approx. 14 units of electrical insulators were exported from Nigeria; with a decrease of -12.5% against the previous year's figure. Over the period under review, exports saw a deep slump. The exports peaked at 26 units in 2020; however, from 2021 to 2022, the exports remained at a lower figure.

In value terms, electrical insulator exports plummeted to $2K in 2022. Overall, exports showed a deep downturn. The pace of growth appeared the most rapid in 2020 with an increase of 12% against the previous year. As a result, the exports reached the peak of $4.1K. From 2021 to 2022, the growth of the exports remained at a somewhat lower figure.

Export of Electrical Insulator in Nigeria (USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
Cote d'Ivoire	3,257	2,814	805	1,269	-27.0%
Benin	33.0	1,099	1,393	621	166.0%
Ghana	323	155	93.0	112	-29.7%
Niger	9.0	5.0	3.0	3.0	-30.7%
Others	9.0	N/A	366	N/A	537.7%
Total	3,631	4,073	2,660	2,005	-18.0%

Top Export Markets for Electrical Insulator from Nigeria in 2022:

Cote d'Ivoire (8.0 units)
Benin (4.0 units)
Ghana (1.0 units)
Niger (1.0 units)

Source: IndexBox Market Intelligence Platform

This report provides an in-depth analysis of the electrical insulator 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 27901230 - Electrical insulators (excluding of glass or ceramics)
Prodcom 23431030 - Electrical insulators of ceramics (excluding insulating fittings)
Prodcom 23192500 - Glass electrical insulators (excluding insulating fittings (other than insulators) for electrical machinery, appliances or equipment)

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