Nigeria - Compressors For Refrigeration Equipment - Market Analysis, Forecast, Size, Trends And Insights
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View PricingRefrigerator Compressor Price in Nigeria - 2022
Contents:
- Refrigerator Compressor Price in Nigeria (CIF) - 2022
- Refrigerator Compressor Price in Nigeria (FOB) - 2022
- Refrigerator Compressor Imports in Nigeria
- Refrigerator Compressor Exports in Nigeria
Refrigerator Compressor Price in Nigeria (CIF) - 2022
The average refrigerator compressor import price stood at $201 per unit in 2022, growing by 17% against the previous year. Over the period under review, the import price, however, continues to indicate a pronounced contraction. The growth pace was the most rapid in 2019 when the average import price increased by 40%. Over the period under review, average import prices reached the peak figure at $264 per unit in 2012; however, from 2013 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 Germany ($1,826 per unit), while the price for Thailand ($96 per unit) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Germany (+48.4%), while the prices for the other major suppliers experienced more modest paces of growth.
Refrigerator Compressor Price in Nigeria (FOB) - 2022
In 2022, the average refrigerator compressor export price amounted to $488 per unit, waning by -12.2% against the previous year. In general, the export price, however, saw a prominent expansion. The most prominent rate of growth was recorded in 2015 an increase of 3,006% against the previous year. The export price peaked at $555 per unit in 2021, and then shrank in the following year.
There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Denmark ($1,126 per unit), while the average price for exports to Benin ($7 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 South Korea (+29.3%), while the prices for the other major destinations experienced more modest paces of growth.
Refrigerator Compressor Imports in Nigeria
In 2022, after three years of growth, there was significant decline in overseas purchases of compressors for refrigeration equipment, when their volume decreased by -24.1% to 70K units. Over the period under review, imports showed a pronounced decrease. The most prominent rate of growth was recorded in 2021 when imports increased by 11%. As a result, imports reached the peak of 92K units, and then declined sharply in the following year.
In value terms, refrigerator compressor imports contracted to $14M in 2022. In general, imports saw a abrupt contraction. The most prominent rate of growth was recorded in 2021 with an increase of 10%. Over the period under review, imports reached the maximum at $17M in 2019; however, from 2020 to 2022, imports stood at a somewhat lower figure.
| Import of Refrigerator Compressor in Nigeria (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| China | 9.6 | 11.1 | 12.8 | 7.5 | -7.9% |
| United States | 0.5 | 0.4 | 0.4 | 1.7 | 50.4% |
| Thailand | 0.1 | 0.5 | N/A | 0.3 | 44.2% |
| Others | 7.2 | 2.5 | 2.7 | 4.5 | -14.5% |
| Total | 17.4 | 14.4 | 15.9 | 14.1 | -6.8% |
Top Suppliers of Refrigerator Compressor to Nigeria in 2022:
- China (60.9K units)
- Thailand (2.8K units)
- United States (2.0K units)
Refrigerator Compressor Exports in Nigeria
In 2022, refrigerator compressor exports from Nigeria contracted modestly to 36 units, which is down by -2.7% compared with the previous year. Over the period under review, exports saw a precipitous setback. The most prominent rate of growth was recorded in 2021 when exports increased by 16%. Over the period under review, the exports reached the maximum at 88 units in 2019; however, from 2020 to 2022, the exports failed to regain momentum.
In value terms, refrigerator compressor exports dropped to $18K in 2022. In general, exports saw a dramatic decline. The pace of growth was the most pronounced in 2021 with an increase of 41%. The exports peaked at $41K in 2019; however, from 2020 to 2022, the exports remained at a lower figure.
| Export of Refrigerator Compressor in Nigeria (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Cote d'Ivoire | 18.6 | 3.3 | 5.6 | 5.0 | -35.5% |
| Italy | 5.5 | 3.1 | 3.8 | 3.6 | -13.2% |
| Netherlands | 1.3 | 0.9 | 1.3 | 2.0 | 15.4% |
| South Africa | 2.7 | 1.6 | 1.9 | 1.9 | -11.1% |
| South Korea | 4.6 | 2.0 | 1.8 | 1.3 | -34.4% |
| Denmark | 3.1 | 1.4 | 1.2 | 1.1 | -29.2% |
| China | 0.3 | 0.1 | 0.2 | 0.1 | -30.7% |
| Belgium | 0.3 | 0.1 | N/A | 0.1 | -30.7% |
| Cameroon | 0.1 | N/A | 0.1 | N/A | 0.0% |
| Germany | 0.5 | 0.1 | 0.1 | N/A | -55.3% |
| Angola | 0.1 | N/A | N/A | N/A | 0% |
| Benin | 0.6 | 0.2 | 0.1 | N/A | -59.2% |
| Congo | 0.1 | N/A | N/A | N/A | 0% |
| Others | 3.3 | 1.7 | 4.4 | 2.3 | -11.3% |
| Total | 41.1 | 14.6 | 20.5 | 17.6 | -24.6% |
Top Export Markets for Refrigerator Compressor from Nigeria in 2022:
- Cote d'Ivoire (6.0 units)
- Italy (5.0 units)
- Netherlands (4.0 units)
- South Africa (3.0 units)
- South Korea (2.0 units)
- Denmark (1.0 units)
- Congo (1.0 units)
- China (1.0 units)
- Belgium (1.0 units)
- Angola (1.0 units)
- Germany (1.0 units)
- Cameroon (1.0 units)
- Benin (1.0 units)
This report provides an in-depth analysis of the refrigerator compressor market 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 28132300 - Compressors for refrigeration equipment
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
-
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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