Price for Electric Motors and Generators; DC, of an Output Not Exceeding 750W in Nigeria - 2022
Contents:
- Price for Electric Motors and Generators; DC, of an Output Not Exceeding 750W in Nigeria (CIF) - 2022
- Price for Electric Motors and Generators; DC, of an Output Not Exceeding 750W in Nigeria (FOB) - 2022
- Imports of Electric Motors and Generators; DC, of an Output Not Exceeding 750W in Nigeria
- Exports of Electric Motors and Generators; DC, of an Output Not Exceeding 750W in Nigeria
Price for Electric Motors and Generators; DC, of an Output Not Exceeding 750W in Nigeria (CIF) - 2022
In 2022, the average import price for electric motors and generators amounted to $80 per unit, dropping by -5.1% against the previous year. Over the period under review, the import price recorded a abrupt curtailment. The growth pace was the most rapid in 2015 an increase of 19%. The import price peaked at $203 per unit in 2012; however, from 2013 to 2022, import prices failed to regain momentum.
Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was China ($78 per unit), while the price for the United States amounted to $74 per unit.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+0.8%).
Price for Electric Motors and Generators; DC, of an Output Not Exceeding 750W in Nigeria (FOB) - 2022
The average export price for electric motors and generators stood at $112 per unit in 2022, with a decrease of -66.4% against the previous year. Over the period under review, the export price saw a deep setback. The pace of growth was the most pronounced in 2017 an increase of 216%. Over the period under review, the average export prices reached the maximum at $334 per unit in 2021, and then plummeted in the following year.
Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Austria ($127 per unit), while the average price for exports to Cameroon ($74 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 Austria (+45.5%), while the prices for the other major destinations experienced more modest paces of growth.
Imports of Electric Motors and Generators; DC, of an Output Not Exceeding 750W in Nigeria
Imports of electric motors and generators into Nigeria skyrocketed to 412K units in 2022, growing by 92% against the previous year. Over the period under review, imports showed a buoyant expansion. As a result, imports reached the peak and are likely to continue growth in the immediate term.
In value terms, imports of electric motors and generators skyrocketed to $33M in 2022. Overall, total imports indicated a strong increase from 2019 to 2022: its value increased at an average annual rate of +16.1% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports reached the peak and are likely to continue growth in the immediate term.
| Import of Electric Motors and Generators; DC, of an Output Not Exceeding 750W in Nigeria (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| China | 15.0 | 23.8 | 15.4 | 31.0 | 27.4% |
| United States | 0.4 | 0.2 | 0.2 | 0.4 | 0.0% |
| Others | 5.7 | 3.5 | 2.7 | 1.8 | -31.9% |
| Total | 21.2 | 27.5 | 18.2 | 33.2 | 16.1% |
Top Suppliers of Electric Motors and Generators; DC, of an Output Not Exceeding 750W to Nigeria in 2022:
- China (397.2K units)
- United States (4.7K units)
Exports of Electric Motors and Generators; DC, of an Output Not Exceeding 750W in Nigeria
For the fourth consecutive year, Nigeria recorded growth in shipments abroad of electric motors and generators, which increased by 47% to 617 units in 2022. In general, exports showed a significant increase. The most prominent rate of growth was recorded in 2021 with an increase of 204% against the previous year. Over the period under review, the exports of reached the peak figure in 2022 and are expected to retain growth in the near future.
In value terms, exports of electric motors and generators dropped notably to $69K in 2022. Over the period under review, exports enjoyed a significant expansion. The pace of growth was the most pronounced in 2021 with an increase of 287%. As a result, the exports attained the peak of $140K, and then declined sharply in the following year.
| Export of Electric Motors and Generators; DC, of an Output Not Exceeding 750W in Nigeria (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| United States | 2.5 | 2.2 | 2.8 | 19.3 | 97.6% |
| Netherlands | 0.1 | 0.4 | 2.7 | 15.3 | 434.8% |
| Cote d'Ivoire | 3.8 | 4.8 | 16.1 | 11.0 | 42.5% |
| Austria | 3.0 | 4.5 | 10.4 | 7.9 | 38.1% |
| Niger | 0.5 | 4.1 | 9.5 | 7.0 | 141.0% |
| Ghana | 0.3 | 0.4 | 0.8 | 0.5 | 18.6% |
| India | 7.3 | 15.8 | 86.1 | N/A | 243.4% |
| Others | 4.9 | 3.8 | 11.5 | 8.2 | 18.7% |
| Total | 22.4 | 36.1 | 140 | 69.2 | 45.6% |
Top Export Markets for Electric Motors and Generators; DC, of an Output Not Exceeding 750W from Nigeria in 2022:
- Netherlands (170.0 units)
- United States (163.0 units)
- Cote d'Ivoire (117.0 units)
- Niger (84.0 units)
- Austria (62.0 units)
- Ghana (8.0 units)
- India (1.0 units)
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This report provides an in-depth analysis of the dc motor market in Nigeria.
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China continued its dominance in the global motor trade. In 2014, China exported X million units of motors totaling X million USD, X% over the previous year. Its primary trading partner was the U.S., where it supplied X% of its total motor ex
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110
Explore the top import markets for DC motors in 2023 and discover key statistics and insights.
823
In 2016, approx. X tons of motor were imported worldwide- flattening at the previous year level. In general, motor imports continue to indicate a drastic deduction. The pace of growth was the mos...
1208
China continued its dominance in the global motor trade. In 2014, China exported X million units of motors totaling X million USD, X% over the previous year. Its primary trading partner was the U.S., where it supplied X% of its total motor ex
1288
China seized control of the AC/DC motor market. In 2014, China exported X kt of AC/DC motors totaling $X, X% over the previous year. Its primary trading partner was the U.S., where it supplied X% of its total AC/DC motor exports in value term
