Price for Compression-ignition internal combustion piston engines (diesel or semi-diesel engines) for marine propulsion in Nigeria - 2022
Contents:
- Price for Compression-Ignition Internal Combustion Piston Engines (Diesel or Semi-Diesel Engines) for Marine Propulsion in Nigeria (CIF) - 2022
- Imports of Compression-Ignition Internal Combustion Piston Engines (Diesel or Semi-Diesel Engines) for Marine Propulsion in Nigeria
Price for Compression-Ignition Internal Combustion Piston Engines (Diesel or Semi-Diesel Engines) for Marine Propulsion in Nigeria (CIF) - 2022
In 2022, the average import price for compression-ignition internal combustion piston engines (diesel or semi-diesel engines) for marine propulsion amounted to $30,247 per unit, growing by 28% against the previous year. In general, the import price saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 an increase of 104%. The import price peaked at $41,225 per unit in 2016; however, from 2017 to 2022, import prices failed to regain momentum.
There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was the United States ($111,742 per unit), while the price for Spain ($4,201 per unit) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Spain (+10.2%), while the prices for the other major suppliers experienced more modest paces of growth.
Imports of Compression-Ignition Internal Combustion Piston Engines (Diesel or Semi-Diesel Engines) for Marine Propulsion in Nigeria
In 2022, imports of compression-ignition internal combustion piston engines (diesel or semi-diesel engines) for marine propulsion into Nigeria shrank markedly to 87 units, with a decrease of -37% compared with the previous year's figure. Over the period under review, imports saw a precipitous descent. The pace of growth appeared the most rapid in 2021 when imports increased by 33%. Imports peaked at 213 units in 2019; however, from 2020 to 2022, imports remained at a lower figure.
In value terms, imports of compression-ignition internal combustion piston engines (diesel or semi-diesel engines) for marine propulsion contracted markedly to $2.6M in 2022. The total import value increased at an average annual rate of +1.1% over the period from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2021 when imports increased by 28% against the previous year. As a result, imports reached the peak of $3.3M, and then declined sharply in the following year.
| Import of Compression-Ignition Internal Combustion Piston Engines (Diesel or Semi-Diesel Engines) for Marine Propulsion in Nigeria (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| China | 373 | 574 | 1,245 | 1,115 | 44.1% |
| United Kingdom | 351 | 152 | 380 | 453 | 8.9% |
| United States | 139 | 149 | 219 | 335 | 34.1% |
| Germany | 1,107 | 949 | 658 | 234 | -40.4% |
| United Arab Emirates | 6.2 | 8.5 | 0.1 | 173 | 203.3% |
| Spain | 0.5 | 37.1 | 33.6 | 21.0 | 247.6% |
| Japan | 31.5 | 13.8 | 3.3 | N/A | -67.6% |
| Czech Republic | 97.3 | N/A | N/A | N/A | 0% |
| Others | 440 | 652 | 718 | 300 | -12.0% |
| Total | 2,545 | 2,536 | 3,257 | 2,631 | 1.1% |
Top Suppliers of Compression-Ignition Internal Combustion Piston Engines (Diesel or Semi-Diesel Engines) for Marine Propulsion to Nigeria in 2022:
- United Kingdom (39.0 units)
- China (22.0 units)
- United Arab Emirates (11.0 units)
- Spain (5.0 units)
- United States (3.0 units)
- Germany (1.0 units)
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