Nigeria - Non-Automatic Lubricating Pots, Greasing Nipples, Oil Seal Rings And Hand Wheels - Market Analysis, Forecast, Size, Trends And Insights
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View PricingPrice for Grease Fittings and Oil Seals in Nigeria - 2022
Contents:
- Price for Grease Fittings and Oil Seals in Nigeria (CIF) - 2022
- Price for Grease Fittings and Oil Seals in Nigeria (FOB) - 2022
- Imports of Grease Fittings and Oil Seals in Nigeria
- Exports of Grease Fittings and Oil Seals in Nigeria
Price for Grease Fittings and Oil Seals in Nigeria (CIF) - 2022
The average import price for non-automatic lubricating pots, greasing nipples, oil seal rings and hand wheels stood at $4.6 per unit in 2022, picking up by 13% against the previous year. Over the period under review, the import price continues to indicate a moderate expansion. The most prominent rate of growth was recorded in 2014 when the average import price increased by 81%. Over the period under review, average import prices hit record highs at $7.7 per unit in 2016; however, from 2017 to 2022, import prices remained at a lower figure.
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 France ($30 per unit), while the price for Ukraine ($1.6 per unit) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by France (+15.9%), while the prices for the other major suppliers experienced more modest paces of growth.
Price for Grease Fittings and Oil Seals in Nigeria (FOB) - 2022
The average export price for non-automatic lubricating pots, greasing nipples, oil seal rings and hand wheels stood at $5.9 per unit in 2022, picking up by 13% against the previous year. Overall, the export price recorded a slight increase. The pace of growth appeared the most rapid in 2019 an increase of 89% against the previous year. The export price peaked at $8.4 per unit in 2013; however, from 2014 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 Belgium ($16 per unit), while the average price for exports to Angola ($2.6 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 Belgium (+19.6%), while the prices for the other major destinations experienced mixed trend patterns.
Imports of Grease Fittings and Oil Seals in Nigeria
In 2022, grease fittings and oil seals imports into Nigeria reduced to 3.5M units, declining by -5.1% on the year before. Over the period under review, imports, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 with an increase of 196% against the previous year. As a result, imports reached the peak of 3.7M units, and then dropped in the following year.
In value terms, grease fittings and oil seals imports rose sharply to $16M in 2022. In general, imports, however, posted a measured increase. The growth pace was the most rapid in 2021 when imports increased by 262% against the previous year. Imports peaked in 2022 and are expected to retain growth in the near future.
| Import of Grease Fittings and Oil Seals in Nigeria (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Netherlands | 0.8 | 0.1 | 0.4 | 5.2 | 86.6% |
| United States | 2.9 | 0.1 | 0.8 | 3.3 | 4.4% |
| China | 0.4 | 0.7 | 2.0 | 2.0 | 71.0% |
| United Kingdom | 2.7 | 0.7 | 3.1 | 1.2 | -23.7% |
| Hungary | 0.5 | 0.3 | 1.5 | 0.7 | 11.9% |
| France | 1.6 | 0.7 | 2.4 | 0.7 | -24.1% |
| India | 0.1 | 0.1 | 0.9 | 0.6 | 81.7% |
| Ukraine | 0.1 | 0.2 | 1.3 | 0.5 | 71.0% |
| Germany | 1.4 | 0.1 | 0.2 | 0.3 | -40.2% |
| Belgium | 2.1 | 0.6 | 0.4 | 0.2 | -54.3% |
| Others | 1.8 | 0.5 | 1.8 | 1.3 | -10.3% |
| Total | 14.4 | 4.1 | 14.8 | 15.9 | 3.4% |
Top Suppliers of Grease Fittings and Oil Seals to Nigeria in 2022:
- China (974.4K units)
- Netherlands (711.0K units)
- United States (517.8K units)
- Hungary (355.7K units)
- Ukraine (295.4K units)
- India (190.9K units)
- United Kingdom (134.9K units)
- Belgium (37.6K units)
- Germany (25.8K units)
- France (23.5K units)
Exports of Grease Fittings and Oil Seals in Nigeria
In 2022, exports of non-automatic lubricating pots, greasing nipples, oil seal rings and hand wheels from Nigeria reduced to 8.8K units, which is down by -11.9% against the previous year's figure. Overall, exports showed a significant decrease. Over the period under review, the exports hit record highs at 524K units in 2019; however, from 2020 to 2022, the exports remained at a lower figure.
In value terms, grease fittings and oil seals exports dropped to $52K in 2022. Over the period under review, exports saw a sharp shrinkage. The most prominent rate of growth was recorded in 2021 with an increase of 1% against the previous year. Over the period under review, the exports attained the maximum at $1.5M in 2019; however, from 2020 to 2022, the exports stood at a somewhat lower figure.
| Export of Grease Fittings and Oil Seals in Nigeria (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| United Kingdom | 1,357 | 48.4 | 46.7 | 46.7 | -67.5% |
| Angola | 1.1 | 0.1 | 1.1 | 1.4 | 8.4% |
| Others | 118 | 3.1 | 4.5 | 4.0 | -67.6% |
| Total | 1,477 | 51.7 | 52.2 | 52.0 | -67.2% |
Top Export Markets for Grease Fittings and Oil Seals from Nigeria in 2022:
- United Kingdom (7.7K units)
- Angola (0.5K units)
This report provides an in-depth analysis of the market for grease fittings and oil seals 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 28298400 - Non-automatic lubricating pots, greasing nipples, oil seal rings, hand wheels, levers, hand grips, safety guards and baseplates for machinery
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
-
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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