Nigeria - Relays - Market Analysis, Forecast, Size, Trends and Insights
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View PricingRelay Price in Nigeria - 2022
Contents:
- Relay Price in Nigeria (CIF) - 2022
- Relay Price in Nigeria (FOB) - 2022
- Relay Imports in Nigeria
- Relay Exports in Nigeria
Relay Price in Nigeria (CIF) - 2022
The average relay import price stood at $0.8 per unit in 2022, stabilizing at the previous year. Over the period under review, the import price, however, recorded a slight reduction. The growth pace was the most rapid in 2015 an increase of 25%. Over the period under review, average import prices attained the maximum at $1.8 per unit in 2016; however, from 2017 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 Germany ($2.8 per unit), while the price for Mexico ($0.2 per unit) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Germany (+5.4%), while the prices for the other major suppliers experienced more modest paces of growth.
Relay Price in Nigeria (FOB) - 2022
In 2022, the average relay export price amounted to $0.4 per unit, which is down by -43.5% against the previous year. Over the period under review, the export price recorded a mild downturn. The pace of growth appeared the most rapid in 2019 an increase of 151% against the previous year. Over the period under review, the average export prices attained the peak figure at $0.9 per unit in 2015; however, from 2016 to 2022, the export prices remained at a lower figure.
Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Cote d'Ivoire ($2.5 per unit), while the average price for exports to Benin ($0.1 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 Benin (-10.6%), while the prices for the other major destinations experienced a decline.
Relay Imports in Nigeria
In 2022, supplies from abroad of relays decreased by -42.6% to 2.6M units, falling for the second year in a row after two years of growth. Over the period under review, imports showed a abrupt contraction. The pace of growth appeared the most rapid in 2020 with an increase of 61% against the previous year. As a result, imports reached the peak of 7.4M units. From 2021 to 2022, the growth of imports failed to regain momentum.
In value terms, relay imports reduced markedly to $2.2M in 2022. Overall, imports continue to indicate a abrupt contraction. The most prominent rate of growth was recorded in 2020 when imports increased by 66%. As a result, imports attained the peak of $6.9M. From 2021 to 2022, the growth of imports remained at a somewhat lower figure.
| Import of Relay in Nigeria (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| China | 250 | 860 | 635 | 608 | 34.5% |
| Germany | 334 | 509 | 299 | 229 | -11.8% |
| United States | 1,707 | 1,122 | 356 | 209 | -50.3% |
| India | 258 | 301 | 717 | 168 | -13.3% |
| Italy | 232 | 251 | 91.3 | 142 | -15.1% |
| United Kingdom | 142 | 323 | 106 | 131 | -2.7% |
| France | 418 | 1,202 | 184 | 57.9 | -48.3% |
| Czech Republic | 23.9 | 229 | 125 | 55.8 | 32.7% |
| Indonesia | 70.7 | 205 | 103 | 43.3 | -15.1% |
| Norway | 90.1 | 62.5 | 57.3 | 31.7 | -29.4% |
| Mexico | 13.2 | 41.6 | 28.3 | 24.9 | 23.6% |
| Botswana | 41.9 | 75.8 | 37.5 | 15.1 | -28.8% |
| Belgium | 50.3 | 150 | 19.8 | 13.2 | -36.0% |
| Others | 519 | 1,551 | 1,053 | 490 | -1.9% |
| Total | 4,151 | 6,882 | 3,811 | 2,219 | -18.8% |
Top Suppliers of Relay to Nigeria in 2022:
- China (977.9K units)
- India (428.5K units)
- United States (234.6K units)
- Italy (124.8K units)
- Mexico (116.8K units)
- Norway (99.9K units)
- Germany (82.4K units)
- Czech Republic (78.5K units)
- Indonesia (76.5K units)
- United Kingdom (53.9K units)
- Belgium (46.3K units)
- France (44.9K units)
- Botswana (34.1K units)
Relay Exports in Nigeria
In 2022, overseas shipments of relays increased by 99% to 187K units for the first time since 2019, thus ending a two-year declining trend. Over the period under review, total exports indicated temperate growth from 2019 to 2022: its volume increased at an average annual rate of +3.8% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the exports attained the peak and are likely to continue growth in the immediate term.
In value terms, relay exports rose notably to $68K in 2022. In general, exports, however, continue to indicate a deep reduction. Over the period under review, the exports reached the maximum at $122K in 2019; however, from 2020 to 2022, the exports stood at a somewhat lower figure.
| Export of Relay in Nigeria (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Cote d'Ivoire | 33.9 | 24.9 | 24.6 | 23.0 | -12.1% |
| Benin | 4.0 | 4.8 | 4.0 | 7.8 | 24.9% |
| Angola | 12.3 | 9.9 | 1.7 | 6.3 | -20.0% |
| Spain | 4.8 | 3.0 | 2.0 | 3.1 | -13.6% |
| Sao Tome and Principe | 3.6 | 2.2 | 1.6 | 2.2 | -15.1% |
| Italy | 13.1 | 5.3 | 2.2 | 1.6 | -50.4% |
| Others | 49.8 | 24.8 | 24.1 | 23.5 | -22.1% |
| Total | 122 | 74.9 | 60.3 | 67.6 | -17.9% |
Top Export Markets for Relay from Nigeria in 2022:
- Benin (128.0K units)
- Angola (38.9K units)
- Cote d'Ivoire (9.1K units)
- Spain (2.6K units)
- Sao Tome and Principe (2.5K units)
- Italy (0.8K units)
This report provides an in-depth analysis of the relay 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 27122433 - Relays for a voltage . .60 V and for a current . 2 A
- Prodcom 27122435 - Relays for a voltage . .60 V and for a current > 2 A
- Prodcom 27122450 - Relays and contactors for a voltage > .60 V but . 1 kV
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
-
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
-
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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