Nigeria - Mechanical Shovels, Excavators And Shovel Loaders - Market Analysis, Forecast, Size, Trends and Insights
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View PricingPrice for Mechanical Shovel and Excavator in Nigeria - 2022
Contents:
- Price for Mechanical Shovel and Excavator in Nigeria (CIF) - 2022
- Price for Mechanical Shovel and Excavator in Nigeria (FOB) - 2022
- Imports of Mechanical Shovel and Excavator in Nigeria
- Exports of Mechanical Shovel and Excavator in Nigeria
Price for Mechanical Shovel and Excavator in Nigeria (CIF) - 2022
The average mechanical shovel and excavator import price stood at $60,245 per unit in 2022, with a decrease of -5.5% against the previous year. In general, the import price saw a pronounced curtailment. The most prominent rate of growth was recorded in 2021 when the average import price increased by 12% against the previous year. Over the period under review, average import prices reached the peak figure at $93,215 per unit in 2012; however, from 2013 to 2022, import prices remained at a lower figure.
Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Germany ($99,424 per unit), while the price for the Netherlands ($31,862 per unit) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Kenya (+17.2%), while the prices for the other major suppliers experienced a decline.
Price for Mechanical Shovel and Excavator in Nigeria (FOB) - 2022
The average mechanical shovel and excavator export price stood at $20,059 per unit in 2022, declining by -14.7% against the previous year. Over the period under review, the export price showed a noticeable contraction. The most prominent rate of growth was recorded in 2018 an increase of 77% against the previous year. As a result, the export price attained the peak level of $62,400 per unit. From 2019 to 2022, the average export prices failed to regain momentum.
Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Belgium ($27,947 per unit), while the average price for exports to Congo ($8,607 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 (+16.0%), while the prices for the other major destinations experienced mixed trend patterns.
Imports of Mechanical Shovel and Excavator in Nigeria
Mechanical shovel and excavator imports into Nigeria surged to 2.4K units in 2022, growing by 23% on the year before. Over the period under review, imports showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2020 with an increase of 24% against the previous year. As a result, imports attained the peak of 2.9K units. From 2021 to 2022, the growth of imports failed to regain momentum.
In value terms, mechanical shovel and excavator imports surged to $143M in 2022. Overall, imports saw a relatively flat trend pattern. Over the period under review, imports attained the peak figure at $165M in 2020; however, from 2021 to 2022, imports failed to regain momentum.
| Import of Mechanical Shovel and Excavator in Nigeria (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| China | 70.1 | 92.9 | 63.9 | 57.8 | -6.2% |
| United States | 11.3 | 16.1 | 6.5 | 19.0 | 18.9% |
| South Korea | 5.0 | 10.8 | 9.4 | 9.6 | 24.3% |
| India | 6.8 | 7.2 | 4.3 | 7.8 | 4.7% |
| France | 0.7 | 0.7 | 0.4 | 6.1 | 105.8% |
| Germany | 2.4 | 3.5 | 5.9 | 6.1 | 36.5% |
| Brazil | 2.3 | 2.3 | 3.7 | 5.2 | 31.2% |
| Netherlands | 5.0 | 6.6 | 4.9 | 4.7 | -2.0% |
| Sweden | 1.1 | 1.5 | 1.9 | 3.1 | 41.3% |
| United Arab Emirates | 1.3 | 0.7 | 2.0 | 2.4 | 22.7% |
| Kenya | 0.2 | 0.5 | 0.8 | 1.9 | 111.8% |
| United Kingdom | 1.7 | 0.5 | 0.7 | 1.3 | -8.6% |
| Belgium | 15.2 | 8.5 | 3.4 | 1.3 | -55.9% |
| Others | 19.8 | 13.5 | 14.5 | 16.7 | -5.5% |
| Total | 143 | 165 | 123 | 143 | 0.0% |
Top Suppliers of Mechanical Shovel and Excavator to Nigeria in 2022:
- China (880.0 units)
- United States (246.0 units)
- South Korea (234.0 units)
- Netherlands (147.0 units)
- India (130.0 units)
- Brazil (87.0 units)
- France (73.0 units)
- Germany (61.0 units)
- United Arab Emirates (48.0 units)
- Kenya (40.0 units)
- United Kingdom (39.0 units)
- Sweden (39.0 units)
- Belgium (22.0 units)
Exports of Mechanical Shovel and Excavator in Nigeria
After two years of decline, overseas shipments of mechanical shovels, excavators and shovel loaders increased by 33% to 8 units in 2022. Over the period under review, exports, however, faced a deep setback. The exports peaked at 15 units in 2019; however, from 2020 to 2022, the exports failed to regain momentum.
In value terms, mechanical shovel and excavator exports expanded markedly to $160K in 2022. In general, exports, however, saw a dramatic contraction. Over the period under review, the exports attained the peak figure at $769K in 2019; however, from 2020 to 2022, the exports stood at a somewhat lower figure.
| Export of Mechanical Shovel and Excavator in Nigeria (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Ghana | 301 | 54.7 | 77.0 | 66.1 | -39.7% |
| Benin | 54.1 | 46.0 | 38.5 | 38.0 | -11.1% |
| Belgium | 230 | 40.3 | 6.9 | 27.9 | -50.5% |
| Congo | 8.0 | 8.2 | 8.2 | 8.6 | 2.4% |
| Netherlands | 165 | 20.4 | 2.5 | 7.1 | -65.0% |
| Greece | N/A | 1.2 | N/A | N/A | 0% |
| Others | 9.9 | 9.0 | 8.1 | 12.8 | 8.9% |
| Total | 769 | 180 | 141 | 160 | -40.7% |
Top Export Markets for Mechanical Shovel and Excavator from Nigeria in 2022:
- Ghana (3.0 units)
- Benin (3.0 units)
- Belgium (1.0 units)
- Congo (1.0 units)
This report provides an in-depth analysis of the market for mechanical shovel and excavator 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 28922530 - Loaders specially designed for underground use
- Prodcom 28922550 - Wheeled loaders, crawler shovel loaders, front-end loaders
- Prodcom 28922600 - Self-propelled bulldozers... with a .360
- Prodcom 28922730 - Self-propelled bulldozers, excavators..., n.e.c.
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
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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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