Nigeria - Household Refrigerators And Freezers (Not Combined) - Market Analysis, Forecast, Size, Trends and Insights
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View PricingNon-Combined Refrigerator-Freezer Price in Nigeria - 2022
Contents:
- Non-Combined Refrigerator-Freezer Price in Nigeria (CIF) - 2022
- Non-Combined Refrigerator-Freezer Price in Nigeria (FOB) - 2022
- Non-Combined Refrigerator-Freezer Imports in Nigeria
- Non-Combined Refrigerator-Freezer Exports in Nigeria
Non-Combined Refrigerator-Freezer Price in Nigeria (CIF) - 2022
In June 2022, the average non-combined refrigerator-freezer import price amounted to $219 per unit, with an increase of 3.5% against the previous month. Over the period under review, the import price continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in December 2021 when the average import price increased by 33% against the previous month. The import price peaked at $233 per unit in January 2022; however, from February 2022 to June 2022, import prices stood at a somewhat lower figure.
Average prices varied noticeably amongst the major supplying countries. In June 2022, the country with the highest price was China ($219 per unit), while the price for South Korea ($204 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 China (+14.9%), while the prices for the other major suppliers experienced more modest paces of growth.
Non-Combined Refrigerator-Freezer Price in Nigeria (FOB) - 2022
In 2022, the average non-combined refrigerator-freezer export price amounted to $200 per unit, surging by 7.3% against the previous year. In general, the export price, however, saw a pronounced decrease. The pace of growth was the most pronounced in 2017 when the average export price increased by 33% against the previous year. The export price peaked at $264 per unit in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.
Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Lebanon ($350 per unit), while the average price for exports to Ghana ($62 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 (+20.3%), while the prices for the other major destinations experienced more modest paces of growth.
Non-Combined Refrigerator-Freezer Imports in Nigeria
For the third year in a row, Nigeria recorded decline in supplies from abroad of household refrigerators and freezers (not combined), which decreased by -13.2% to 447K units in 2022. Over the period under review, imports showed a abrupt decline. The smallest decline of -3.1% was in 2020. Imports peaked at 705K units in 2019; however, from 2020 to 2022, imports remained at a lower figure.
In value terms, non-combined refrigerator-freezer imports contracted slightly to $106M in 2022. Overall, imports continue to indicate a deep contraction. Over the period under review, imports attained the maximum at $141M in 2019; however, from 2020 to 2022, imports failed to regain momentum.
| Import of Non-Combined Refrigerator-Freezer in Nigeria (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| China | 124 | 97.1 | 94.3 | 95.4 | -8.4% |
| Indonesia | 2.8 | 14.2 | 8.0 | 5.2 | 22.9% |
| South Korea | 4.6 | 3.7 | 2.5 | 1.7 | -28.2% |
| Others | 10.1 | 11.0 | 5.7 | 4.1 | -26.0% |
| Total | 141 | 126 | 110 | 106 | -9.1% |
Top Suppliers of Non-Combined Refrigerator-Freezer to Nigeria in 2022:
- China (401.8K units)
- Indonesia (23.6K units)
- South Korea (7.4K units)
Non-Combined Refrigerator-Freezer Exports in Nigeria
Non-combined refrigerator-freezer exports from Nigeria stood at 443 units in 2022, increasing by 5.7% compared with 2021 figures. The total export volume increased at an average annual rate of +2.1% over the period from 2019 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations being observed throughout the analyzed period. As a result, the exports attained the peak and are likely to continue growth in the immediate term.
In value terms, non-combined refrigerator-freezer exports rose sharply to $89K in 2022. The total export value increased at an average annual rate of +4.1% from 2019 to 2022; the trend pattern remained consistent, with only minor fluctuations in certain years. As a result, the exports attained the peak and are likely to continue growth in the immediate term.
| Export of Non-Combined Refrigerator-Freezer in Nigeria (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Niger | 45.0 | 61.6 | 26.5 | 56.3 | 7.8% |
| Benin | 9.9 | 2.8 | 20.2 | 24.4 | 35.1% |
| Lebanon | N/A | N/A | 0.9 | 3.2 | 255.6% |
| Kenya | 10.2 | 0.9 | 1.2 | 2.0 | -41.9% |
| Angola | 4.8 | 2.2 | 19.1 | 0.3 | -60.3% |
| Others | 8.8 | 14.2 | 10.1 | 2.4 | -35.2% |
| Total | 78.7 | 81.6 | 78.2 | 88.7 | 4.1% |
Top Export Markets for Non-Combined Refrigerator-Freezer from Nigeria in 2022:
- Niger (324.0 units)
- Benin (90.0 units)
- Lebanon (9.0 units)
- Kenya (8.0 units)
- Angola (1.0 units)
This report provides an in-depth analysis of the non-combined refrigerator-freezer 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 27511133 - Household-type refrigerators (including compression-type, e lectrical absorption-type) (excluding built-in)
- Prodcom 27511135 - Compression-type built-in refrigerators
- Prodcom 27511150 - Chest freezers of a capacity . .800 litres
- Prodcom 27511170 - Upright freezers of a capacity . .900 litres
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.
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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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