Nigeria - Drive-Axles with Differential and Non-Driving Axles - Market Analysis, Forecast, Size, Trends And Insights
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View PricingPrice for Driving and Non-Driving Axle in Nigeria - 2022
Contents:
- Price for Driving and Non-Driving Axle in Nigeria (CIF) - 2022
- Price for Driving and Non-Driving Axle in Nigeria (FOB) - 2022
- Imports of Driving and Non-Driving Axle in Nigeria
- Exports of Driving and Non-Driving Axle in Nigeria
Price for Driving and Non-Driving Axle in Nigeria (CIF) - 2022
The average driving and non-driving axle import price stood at $746 per ton in 2022, jumping by 19% against the previous year. Overall, the import price, however, recorded a noticeable descent. The most prominent rate of growth was recorded in 2013 an increase of 163% against the previous year. As a result, import price attained the peak level of $2,642 per ton. From 2014 to 2022, the average 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 Antigua and Barbuda ($4,032 per ton), while the price for Taiwan (Chinese) ($70 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Antigua and Barbuda (+6.8%), while the prices for the other major suppliers experienced a decline.
Price for Driving and Non-Driving Axle in Nigeria (FOB) - 2022
The average driving and non-driving axle export price stood at $2,034 per ton in 2022, dropping by -13.2% against the previous year. Over the period under review, the export price continues to indicate a perceptible reduction. The most prominent rate of growth was recorded in 2016 when the average export price increased by 34%. Over the period under review, the average export prices attained the maximum at $3,043 per ton in 2017; however, from 2018 to 2022, the export prices failed to regain momentum.
Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Turkey ($18,159 per ton), while the average price for exports to Senegal ($154 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Egypt (+13.4%), while the prices for the other major destinations experienced more modest paces of growth.
Imports of Driving and Non-Driving Axle in Nigeria
In 2022, purchases abroad of drive-axles with differential and non-driving axles decreased by -1.7% to 14K tons, falling for the second consecutive year after two years of growth. Over the period under review, total imports indicated a remarkable increase from 2019 to 2022: its volume increased at an average annual rate of +11.3% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports decreased by -19.1% against 2020 indices. The pace of growth was the most pronounced in 2020 when imports increased by 70% against the previous year. As a result, imports reached the peak of 18K tons. From 2021 to 2022, the growth of imports remained at a somewhat lower figure.
In value terms, driving and non-driving axle imports surged to $11M in 2022. In general, total imports indicated a buoyant expansion from 2019 to 2022: its value increased at an average annual rate of +17.9% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports decreased by -8.1% against 2020 indices. The most prominent rate of growth was recorded in 2020 with an increase of 78%. As a result, imports attained the peak of $12M. From 2021 to 2022, the growth of imports remained at a lower figure.
| Import of Driving and Non-Driving Axle in Nigeria (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| China | 2,865 | 4,787 | 3,645 | 6,859 | 33.8% |
| Antigua and Barbuda | 944 | 1,268 | 1,309 | 1,168 | 7.4% |
| India | 97.6 | 90.5 | 644 | 900 | 109.7% |
| United States | 554 | 1,243 | 852 | 288 | -19.6% |
| Turkey | 4.4 | 10.8 | 22.8 | 187 | 249.0% |
| Japan | 541 | 1,738 | 931 | 156 | -33.9% |
| Morocco | 116 | 87.8 | 139 | 128 | 3.3% |
| United Arab Emirates | 50.2 | 163 | 165 | 123 | 34.8% |
| South Korea | 30.5 | 117 | 115 | 86.0 | 41.3% |
| Taiwan (Chinese) | 45.6 | 93.6 | 64.2 | 48.0 | 1.7% |
| Others | 1,346 | 2,158 | 1,366 | 863 | -13.8% |
| Total | 6,594 | 11,757 | 9,252 | 10,806 | 17.9% |
Top Suppliers of Driving and Non-Driving Axle to Nigeria in 2022:
- China (8.7K tons)
- United Arab Emirates (0.8K tons)
- Taiwan (Chinese) (0.7K tons)
- India (0.6K tons)
- United States (0.6K tons)
- Morocco (0.4K tons)
- Turkey (0.3K tons)
- Japan (0.3K tons)
- Antigua and Barbuda (0.3K tons)
- South Korea (0.3K tons)
Exports of Driving and Non-Driving Axle in Nigeria
In 2022, after two years of decline, there was significant growth in overseas shipments of drive-axles with differential and non-driving axles, when their volume increased by 184% to 41 tons. In general, exports, however, continue to indicate a precipitous setback.
In value terms, driving and non-driving axle exports surged to $82K in 2022. Overall, exports, however, continue to indicate a significant decline.
| Export of Driving and Non-Driving Axle in Nigeria (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Cote d'Ivoire | 59.2 | 44.7 | 11.8 | 26.4 | -23.6% |
| Mali | 56.6 | 30.3 | 8.7 | 21.3 | -27.8% |
| Turkey | 28.0 | 16.4 | 5.2 | 13.8 | -21.0% |
| Egypt | 39.1 | 14.1 | 3.4 | 6.5 | -45.0% |
| Angola | 18.1 | 15.7 | 0.5 | 5.1 | -34.4% |
| Democratic Republic of the Congo | 14.5 | 2.6 | 1.3 | 3.0 | -40.9% |
| Niger | 1.2 | 0.8 | 0.7 | 2.2 | 22.4% |
| Gambia | 5.7 | 1.5 | 0.6 | 1.3 | -38.9% |
| Benin | 4.5 | 2.2 | 0.5 | 0.9 | -41.5% |
| Congo | 1.8 | 0.8 | 0.2 | 0.5 | -34.8% |
| Cameroon | 1.5 | 0.7 | 0.2 | 0.4 | -35.6% |
| Senegal | 0.7 | 0.4 | 0.1 | 0.2 | -34.1% |
| Burkina Faso | 0.6 | 0.4 | 0.1 | 0.2 | -30.7% |
| Others | 1.9 | 1.0 | 0.3 | 0.5 | -35.9% |
| Total | 233 | 131 | 33.4 | 82.4 | -29.3% |
Top Export Markets for Driving and Non-Driving Axle from Nigeria in 2022:
- Democratic Republic of the Congo (11.5 tons)
- Angola (9.3 tons)
- Mali (5.1 tons)
- Niger (2.6 tons)
- Congo (1.8 tons)
- Cote d'Ivoire (1.7 tons)
- Cameroon (1.7 tons)
- Senegal (1.5 tons)
- Egypt (1.1 tons)
- Burkina Faso (1.1 tons)
- Benin (1.1 tons)
- Gambia (0.9 tons)
- Turkey (0.8 tons)
This report provides an in-depth analysis of the market for driving and non-driving axle 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 29323036 - Drive-axles with differential, non-driving axles and their 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.
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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
-
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
-
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
-
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
-
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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