Report Update: May 1, 2024

Nigeria - Safes, Strongboxes And Doors Of Base Metal - Market Analysis, Forecast, Size, Trends And Insights

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Safes and Strongboxes Price in Nigeria - 2022

Safes and Strongboxes Price in Nigeria (CIF) - 2022

In 2022, the average safes and strongboxes import price amounted to $1,674 per ton, falling by -30.9% against the previous year. Over the period under review, the import price continues to indicate a abrupt descent. The growth pace was the most rapid in 2021 when the average import price increased by 84%. The import price peaked at $3,615 per ton in 2017; however, from 2018 to 2022, import prices remained at a lower figure.

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 ($11,253 per ton), while the price for China ($457 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+20.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Safes and Strongboxes Price in Nigeria (FOB) - 2022

The average safes and strongboxes export price stood at $763 per ton in 2022, remaining constant against the previous year. Over the period under review, the export price, however, recorded a temperate expansion. The most prominent rate of growth was recorded in 2017 an increase of 351% against the previous year. The export price peaked at $4,881 per ton in 2018; however, from 2019 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was South Africa ($1,397 per ton), while the average price for exports to Benin ($526 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Congo (+212.7%), while the prices for the other major destinations experienced more modest paces of growth.

Safes and Strongboxes Imports in Nigeria

In 2022, the amount of safes, strongboxes and doors of base metal imported into Nigeria skyrocketed to 868 tons, growing by 70% on 2021 figures. In general, imports, however, continue to indicate a abrupt decline.

In value terms, safes and strongboxes imports soared to $1.5M in 2022. Overall, imports, however, saw a abrupt decrease.

Import of Safes and Strongboxes in Nigeria (Thousand USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
South Korea	743	836	278	593	-7.2%
Greece	252	290	105	222	-4.1%
Vietnam	137	182	72.0	149	2.8%
China	27.0	38.7	22.5	137	71.8%
Italy	11.3	19.7	10.8	53.3	67.7%
Australia	47.1	43.0	12.4	20.7	-24.0%
Germany	0.6	28.3	3.2	9.8	153.7%
Others	613	426	733	268	-24.1%
Total	1,831	1,863	1,237	1,453	-7.4%

Top Suppliers of Safes and Strongboxes to Nigeria in 2022:

South Korea (355.1 tons)
China (300.5 tons)
Greece (37.2 tons)
Australia (34.8 tons)
Vietnam (23.2 tons)
Italy (21.9 tons)
Germany (20.5 tons)

Safes and Strongboxes Exports in Nigeria

In 2022, the amount of safes, strongboxes and doors of base metal exported from Nigeria contracted markedly to 2.6 tons, with a decrease of -18.2% on the previous year. Over the period under review, exports recorded a abrupt descent. The most prominent rate of growth was recorded in 2021 when exports increased by 104%.

In value terms, safes and strongboxes exports fell remarkably to $2K in 2022. Overall, exports recorded a abrupt curtailment. The most prominent rate of growth was recorded in 2021 with an increase of 63% against the previous year.

Export of Safes and Strongboxes in Nigeria (USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
Benin	364	154	1,216	840	32.1%
Niger	1,206	422	132	426	-29.3%
South Africa	679	409	425	234	-29.9%
Ghana	139	85.0	90.0	50.0	-28.9%
Zimbabwe	N/A	N/A	6.0	N/A	0%
Others	393	433	581	426	2.7%
Total	2,781	1,503	2,450	1,976	-10.8%

Top Export Markets for Safes and Strongboxes from Nigeria in 2022:

Benin (1598.0 kg)
Niger (731.0 kg)
South Africa (167.0 kg)
Ghana (69.0 kg)

Source: IndexBox Market Intelligence Platform

This report provides an in-depth analysis of the safes and strongboxes 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 25992120 - Armoured or reinforced safes, strongboxes and doors and safe deposit lockers for strongrooms, of base metal
Prodcom 25992170 - Base metal cash or deed boxes and the like

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