Report Update: May 1, 2024

Nigeria - Non-Numerically Controlled Sharpening Machines For Working Metal - Market Analysis, Forecast, Size, Trends And Insights

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Price for Non-Numerically Controlled Sharpening Machine in Nigeria - 2022

Price for Non-Numerically Controlled Sharpening Machine in Nigeria (CIF) - 2022

The average non-numerically controlled sharpening machine import price stood at $220 per unit in 2022, reducing by -37.5% against the previous year. In general, the import price saw a abrupt slump. The growth pace was the most rapid in 2019 an increase of 62% against the previous year. The import price peaked at $507 per unit in 2013; however, from 2014 to 2022, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was China ($608 per unit), while the price for the United Arab Emirates ($59 per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Malaysia (+42.2%), while the prices for the other major suppliers experienced a decline.

Price for Non-Numerically Controlled Sharpening Machine in Nigeria (FOB) - 2022

The average non-numerically controlled sharpening machine export price stood at $9.2 per unit in 2022, which is down by -38.7% against the previous year. Overall, the export price faced a deep downturn. The pace of growth was the most pronounced in 2017 an increase of 560%. As a result, the export price attained the peak level of $223 per unit. From 2018 to 2022, the average export prices remained at a somewhat lower figure.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Ghana ($14 per unit), while the average price for exports to South Africa ($1 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 Ghana (-11.8%), while the prices for the other major destinations experienced a decline.

Imports of Non-Numerically Controlled Sharpening Machine in Nigeria

In 2022, supplies from abroad of non-numerically controlled sharpening machines for working metal decreased by -31.9% to 6.6K units for the first time since 2018, thus ending a three-year rising trend. Overall, imports, however, recorded a prominent expansion. The pace of growth was the most pronounced in 2020 when imports increased by 111%. Imports peaked at 9.7K units in 2021, and then reduced sharply in the following year.

In value terms, non-numerically controlled sharpening machine imports fell rapidly to $1.4M in 2022. In general, imports saw a noticeable curtailment. The most prominent rate of growth was recorded in 2020 when imports increased by 87% against the previous year. Imports peaked at $3.4M in 2021, and then declined rapidly in the following year.

Import of Non-Numerically Controlled Sharpening Machine in Nigeria (Thousand USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
China	719	2,201	2,823	1,125	16.1%
Brazil	281	454	372	176	-14.4%
Spain	223	49.7	13.2	45.0	-41.3%
South Korea	41.5	108	82.6	36.6	-4.1%
India	85.6	86.2	33.6	14.6	-44.5%
United Arab Emirates	15.7	24.2	18.9	8.5	-18.5%
Others	246	88.0	61.3	43.2	-44.0%
Total	1,612	3,011	3,405	1,449	-3.5%

Top Suppliers of Non-Numerically Controlled Sharpening Machine to Nigeria in 2022:

Brazil (2828.0 units)
China (1850.0 units)
South Korea (570.0 units)
Spain (528.0 units)
India (180.0 units)
United Arab Emirates (145.0 units)

Exports of Non-Numerically Controlled Sharpening Machine in Nigeria

Non-numerically controlled sharpening machine exports from Nigeria skyrocketed to 5 units in 2022, increasing by 67% against the previous year's figure. Over the period under review, total exports indicated a prominent increase from 2019 to 2022: its volume increased at an average annual rate of +18.6% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +66.7% against 2019 indices. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, non-numerically controlled sharpening machine exports expanded slightly to $46 in 2022. Overall, exports, however, continue to indicate a perceptible decline. Over the period under review, the exports hit record highs at $51 in 2019; however, from 2020 to 2022, the exports stood at a somewhat lower figure.

Export of Non-Numerically Controlled Sharpening Machine in Nigeria (USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
Ghana	50.0	47.0	44.0	28.0	-17.6%
Benin	N/A	N/A	N/A	17.0	0%
South Africa	1.0	1.0	1.0	1.0	0.0%
Others	N/A	N/A	N/A	N/A	0%
Total	51.0	48.0	45.0	46.0	-3.4%

Top Export Markets for Non-Numerically Controlled Sharpening Machine from Nigeria in 2022:

Ghana (2.0 units)
Benin (2.0 units)
South Africa (1.0 units)

Source: IndexBox Market Intelligence Platform

This report provides an in-depth analysis of the market for non-numerically controlled sharpening machine 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 28412375 - Non-numerically controlled sharpening (tool or cutter grinding) machines for working metal

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
1. REPORT DESCRIPTION
2. RESEARCH METHODOLOGY AND AI PLATFORM
3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
4. GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance
1. KEY FINDINGS
2. 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
1. MARKET SIZE
2. MARKET STRUCTURE
3. TRADE BALANCE
4. PER CAPITA CONSUMPTION
5. 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
1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
2. BEST-SELLING PRODUCTS
3. MOST CONSUMED PRODUCT
4. MOST TRADED PRODUCT
5. 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
1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
2. TOP PRODUCING COUNTRIES
3. TOP EXPORTING COUNTRIES
4. 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
1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
2. TOP CONSUMING MARKETS
3. UNSATURATED MARKETS
4. TOP IMPORTING MARKETS
5. MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
1. IMPORTS FROM 2012–2023
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
1. EXPORTS FROM 2012–2023
2. EXPORTS BY COUNTRY
3. EXPORT PRICES BY COUNTRY
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
1. Key Findings In 2023
2. Market Volume, In Physical Terms, 2012–2023
3. Market Value, 2012–2023
4. Per Capita Consumption In 2012-2023
5. Imports, In Physical Terms, By Country, 2012–2023
6. Imports, In Value Terms, By Country, 2012–2023
7. Import Prices, By Country Of Origin, 2012–2023
8. Exports, In Physical Terms, By Country, 2012–2023
9. Exports, In Value Terms, By Country, 2012–2023
10. Export Prices, By Country Of Destination, 2012–2023
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2023
2. Market Value, 2012–2023
3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
5. Trade Balance, In Physical Terms, 2012-2023
6. Trade Balance, In Value Terms, 2012-2023
7. Per Capita Consumption, 2012-2023
8. Market Volume Forecast to 2030
9. Market Value Forecast to 2030
10. Products: Market Size And Growth, By Type
11. Products: Average Per Capita Consumption, By Type
12. Products: Exports And Growth, By Type
13. Products: Export Prices And Growth, By Type
14. Production Volume And Growth
15. Exports And Growth
16. Export Prices And Growth
17. Market Size And Growth
18. Per Capita Consumption
19. Imports And Growth
20. Import Prices
21. Production, In Physical Terms, 2012–2023
22. Production, In Value Terms, 2012–2023
23. Imports, In Physical Terms, 2012–2023
24. Imports, In Value Terms, 2012–2023
25. Imports, In Physical Terms, By Country, 2023
26. Imports, In Physical Terms, By Country, 2012–2023
27. Imports, In Value Terms, By Country, 2012–2023
28. Import Prices, By Country Of Origin, 2012–2023
29. Exports, In Physical Terms, 2012–2023
30. Exports, In Value Terms, 2012–2023
31. Exports, In Physical Terms, By Country, 2023
32. Exports, In Physical Terms, By Country, 2012–2023
33. Exports, In Value Terms, By Country, 2012–2023
34. Export Prices, By Country Of Destination, 2012–2023