Nigeria - Machines For Balancing Mechanical Parts - Market Analysis, Forecast, Size, Trends And Insights
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View PricingPrice for Balancing Mechanical Parts Machine in Nigeria - 2022
Contents:
- Price for Balancing Mechanical Parts Machine in Nigeria (CIF) - 2022
- Price for Balancing Mechanical Parts Machine in Nigeria (FOB) - 2022
- Imports of Balancing Mechanical Parts Machine in Nigeria
- Exports of Balancing Mechanical Parts Machine in Nigeria
Price for Balancing Mechanical Parts Machine in Nigeria (CIF) - 2022
The average balancing mechanical parts machine import price stood at $361 per unit in June 2022, declining by -24.6% against the previous month. In general, the import price, however, posted a remarkable increase. The pace of growth appeared the most rapid in April 2022 an increase of 83% month-to-month. As a result, import price reached the peak level of $854 per unit. From May 2022 to June 2022, the average import prices remained at a somewhat lower figure.
There were significant differences in the average prices amongst the major supplying countries. In June 2022, the country with the highest price was China ($372 per unit), while the price for Hong Kong SAR stood at $204 per unit.
From June 2021 to June 2022, the most notable rate of growth in terms of prices was attained by Ireland (+21.3%), while the prices for the other major suppliers experienced mixed trend patterns.
Price for Balancing Mechanical Parts Machine in Nigeria (FOB) - 2022
The average balancing mechanical parts machine export price stood at $17,460 per unit in 2022, surging by 143% against the previous year. Over the period under review, the export price enjoyed a remarkable increase. The most prominent rate of growth was recorded in 2015 when the average export price increased by 388%. Over the period under review, the average export prices reached the peak figure in 2022 and is expected to retain growth in the near future.
There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was the UK ($57,852 per unit), while the average price for exports to Ghana ($1,553 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 the UK (+10.6%), while the prices for the other major destinations experienced more modest paces of growth.
Imports of Balancing Mechanical Parts Machine in Nigeria
After three years of growth, purchases abroad of machines for balancing mechanical parts decreased by -24.6% to 95K units in 2022. In general, imports, however, saw significant growth. The most prominent rate of growth was recorded in 2021 with an increase of 990%. As a result, imports attained the peak of 127K units, and then declined rapidly in the following year.
In value terms, balancing mechanical parts machine imports surged to $95M in 2022. Overall, imports, however, enjoyed a significant increase. The most prominent rate of growth was recorded in 2021 with an increase of 304% against the previous year. Imports peaked in 2022 and are likely to see steady growth in years to come.
| Import of Balancing Mechanical Parts Machine in Nigeria (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Japan | 0.1 | 0.6 | 2.9 | 22.8 | 510.9% |
| Singapore | N/A | 0.3 | 2.6 | 17.8 | 670.3% |
| United Kingdom | N/A | 0.1 | 0.5 | 7.8 | 783.2% |
| United States | 0.1 | 0.1 | 0.7 | 7.4 | 319.8% |
| China | 0.1 | 0.5 | 1.7 | 7.3 | 317.9% |
| Turkey | N/A | 0.3 | 1.0 | 7.2 | 389.9% |
| India | 0.5 | 2.0 | 1.3 | 1.7 | 50.4% |
| Ireland | N/A | N/A | 10.9 | N/A | 0% |
| Others | 1.0 | 2.2 | 3.3 | 22.6 | 182.7% |
| Total | 1.8 | 6.2 | 25.1 | 94.5 | 274.4% |
Top Suppliers of Balancing Mechanical Parts Machine to Nigeria in 2022:
- Japan (36.3K units)
- Singapore (16.7K units)
- Turkey (13.4K units)
- China (7.0K units)
- United States (6.2K units)
- United Kingdom (4.4K units)
- India (3.8K units)
Exports of Balancing Mechanical Parts Machine in Nigeria
In 2022, exports of machines for balancing mechanical parts from Nigeria reduced remarkably to 1 units, dropping by -50% on the previous year. Over the period under review, exports continue to indicate a precipitous descent. Over the period under review, the exports hit record highs at 2 units in 2021, and then reduced notably in the following year.
In value terms, balancing mechanical parts machine exports fell slightly to $15K in 2022. The total export value increased at an average annual rate of +5.8% from 2019 to 2022; however, the trend pattern remained consistent, with only minor fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2020 when exports increased by 12% against the previous year. Over the period under review, the exports reached the peak figure at $16K in 2021, and then dropped slightly in the following year.
| Export of Balancing Mechanical Parts Machine in Nigeria (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Netherlands | 3.5 | 6.0 | 3.8 | 7.1 | 26.6% |
| Singapore | N/A | N/A | 3.7 | N/A | 0% |
| Others | 9.6 | 8.7 | 8.8 | 8.4 | -4.4% |
| Total | 13.1 | 14.7 | 16.3 | 15.5 | 5.8% |
Top Export Markets for Balancing Mechanical Parts Machine from Nigeria in 2022:
- Netherlands (1.0 units)
This report provides an in-depth analysis of the market for balancing mechanical parts machine 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 28993970 - Machines for balancing mechanical parts
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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