Report Update: May 1, 2024

Nigeria - Furnace Burners For Solid Fuel Or Gas - Market Analysis, Forecast, Size, Trends And Insights

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Price for Solid Fuel Furnace Burner in Nigeria - 2022

Price for Solid Fuel Furnace Burner in Nigeria (CIF) - 2022

The average solid fuel furnace burner import price stood at $76 per unit in 2022, falling by -11.3% against the previous year. Overall, the import price recorded a abrupt shrinkage. The pace of growth appeared the most rapid in 2013 an increase of 26%. The import price peaked at $425 per unit in 2014; however, from 2015 to 2022, 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 the United States ($173 per unit), while the price for India ($31 per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (+0.5%), while the prices for the other major suppliers experienced a decline.

Price for Solid Fuel Furnace Burner in Nigeria (FOB) - 2022

In 2022, the average solid fuel furnace burner export price amounted to $242 per unit, which is down by -13.8% against the previous year. Over the period under review, the export price, however, enjoyed buoyant growth. The most prominent rate of growth was recorded in 2019 when the average export price increased by 262%. The export price peaked at $280 per unit in 2021, and then declined in the following year.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Cote d'Ivoire ($294 per unit), while the average price for exports to Niger totaled $36 per unit.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Benin (+15.6%), while the prices for the other major destinations experienced a decline.

Imports of Solid Fuel Furnace Burner in Nigeria

In 2022, approx. 55K units of furnace burners for solid fuel or gas were imported into Nigeria; growing by 40% against the year before. Overall, imports, however, faced a sharp slump. Over the period under review, imports hit record highs at 330K units in 2020; however, from 2021 to 2022, imports failed to regain momentum.

In value terms, solid fuel furnace burner imports skyrocketed to $4.2M in 2022. In general, imports, however, showed a sharp decline. Over the period under review, imports hit record highs at $33M in 2019; however, from 2020 to 2022, imports stood at a somewhat lower figure.

Import of Solid Fuel Furnace Burner in Nigeria (Million USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
China	20.0	16.7	1.6	1.3	-59.8%
Turkey	0.8	0.8	N/A	0.4	-20.6%
United States	0.8	0.1	0.1	0.2	-37.0%
South Korea	0.1	0.7	N/A	0.2	26.0%
Taiwan (Chinese)	0.2	N/A	0.1	0.1	-20.6%
Egypt	0.1	N/A	0.1	0.1	0.0%
India	2.0	1.8	0.1	0.1	-63.2%
Hong Kong SAR	N/A	N/A	N/A	0.1	0%
Indonesia	2.2	0.8	N/A	N/A	-63.6%
Others	6.9	2.1	1.3	1.8	-36.1%
Total	33.1	23.0	3.4	4.2	-49.7%

Top Suppliers of Solid Fuel Furnace Burner to Nigeria in 2022:

China (33.5K units)
Turkey (5.6K units)
India (2.0K units)
South Korea (1.6K units)
Hong Kong SAR (1.3K units)
Egypt (1.2K units)
United States (1.0K units)
Taiwan (Chinese) (0.8K units)

Exports of Solid Fuel Furnace Burner in Nigeria

In 2022, solid fuel furnace burner exports from Nigeria soared to 27 units, surging by 575% against 2021 figures. Over the period under review, exports saw measured growth. Over the period under review, the exports attained the peak figure at 50 units in 2020; however, from 2021 to 2022, the exports failed to regain momentum.

In value terms, solid fuel furnace burner exports skyrocketed to $6.5K in 2022. Overall, exports, however, recorded a relatively flat trend pattern. The exports peaked at $12K in 2020; however, from 2021 to 2022, the exports stood at a somewhat lower figure.

Export of Solid Fuel Furnace Burner in Nigeria (Thousand USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
Cote d'Ivoire	6.5	8.7	1.1	6.4	-0.5%
Niger	0.2	1.1	0.1	0.2	0.0%
Others	N/A	2.1	N/A	N/A	0%
Total	6.7	11.9	1.2	6.5	-1.0%

Top Export Markets for Solid Fuel Furnace Burner from Nigeria in 2022:

Cote d'Ivoire (22.0 units)
Niger (5.0 units)

Source: IndexBox Market Intelligence Platform

This report provides an in-depth analysis of the market for solid fuel furnace burner 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 28211150 - Furnace burners for solid fuel or gas (including combination burners)

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