Report Update: Apr 1, 2024

Nigeria - Tractors - Market Analysis, Forecast, Size, Trends and Insights

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Tractor Price in Nigeria - 2022

Tractor Price in Nigeria (CIF) - 2022

In 2022, the average tractor import price amounted to $35,252 per unit, jumping by 71% against the previous year. Over the period under review, the import price, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 when the average import price increased by 331% against the previous year. Over the period under review, average import prices hit record highs at $42,701 per unit in 2014; however, from 2015 to 2022, import prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Sweden ($231,080 per unit), while the price for Cyprus ($752 per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Sweden (+17.2%), while the prices for the other major suppliers experienced a decline.

Tractor Price in Nigeria (FOB) - 2022

In 2022, the average tractor export price amounted to $26,259 per unit, with an increase of 9% against the previous year. In general, the export price posted a prominent expansion. The growth pace was the most rapid in 2016 when the average export price increased by 109% against the previous year. The export price peaked at $39,162 per unit in 2017; however, from 2018 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Senegal ($43,770 per unit), while the average price for exports to the United States ($1,314 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 Egypt (+35.7%), while the prices for the other major destinations experienced more modest paces of growth.

Tractor Imports in Nigeria

In 2022, after three years of growth, there was significant decline in overseas purchases of tractors, when their volume decreased by -9.4% to 6.3K units. Over the period under review, imports, however, posted a significant increase. The most prominent rate of growth was recorded in 2020 when imports increased by 162%. Over the period under review, imports attained the maximum at 7K units in 2021, and then declined in the following year.

In value terms, tractor imports soared to $224M in 2022. Overall, imports, however, posted significant growth. The most prominent rate of growth was recorded in 2020 when imports increased by 148% against the previous year. Imports peaked in 2022 and are expected to retain growth in the near future.

Import of Tractor in Nigeria (Million USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
China	12.1	39.7	64.2	112	110.0%
Sweden	8.5	23.7	17.7	46.4	76.1%
Germany	2.0	13.1	10.5	21.9	122.1%
Brazil	5.0	16.2	2.4	9.0	21.6%
United States	3.5	6.8	1.0	5.2	14.1%
India	9.3	11.1	3.5	3.6	-27.1%
Poland	0.8	2.0	1.1	2.5	46.2%
Pakistan	4.0	2.6	2.8	1.3	-31.2%
United Kingdom	1.7	8.6	2.4	1.0	-16.2%
Italy	2.0	1.7	0.9	0.7	-29.5%
Cyprus	0.1	0.1	0.1	0.1	0.0%
Kuwait	N/A	0.2	N/A	N/A	0%
Others	7.6	14.9	37.7	20.1	38.3%
Total	56.8	141	144	224	58.0%

Top Suppliers of Tractor to Nigeria in 2022:

China (2204.0 units)
United States (1573.0 units)
India (280.0 units)
Germany (206.0 units)
Sweden (201.0 units)
Cyprus (156.0 units)
Poland (113.0 units)
Brazil (107.0 units)
Pakistan (72.0 units)
Italy (59.0 units)
United Kingdom (48.0 units)

Tractor Exports in Nigeria

In 2022, approx. 17 units of tractors were exported from Nigeria; remaining relatively unchanged against the previous year. Overall, exports recorded a abrupt shrinkage. The growth pace was the most rapid in 2021 with an increase of 6.2% against the previous year. The exports peaked at 21 units in 2019; however, from 2020 to 2022, the exports stood at a somewhat lower figure.

In value terms, tractor exports expanded notably to $446K in 2022. In general, exports saw a abrupt shrinkage. The exports peaked at $665K in 2019; however, from 2020 to 2022, the exports stood at a somewhat lower figure.

Export of Tractor in Nigeria (Thousand USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
Senegal	492	340	333	350	-10.7%
Egypt	16.1	27.7	29.0	49.5	45.4%
Cameroon	29.3	26.9	14.2	14.0	-21.8%
Benin	12.9	7.2	10.9	11.4	-4.0%
Belgium	31.7	24.8	11.1	9.4	-33.3%
United States	13.2	6.4	6.5	6.6	-20.6%
Niger	4.7	5.4	2.5	2.3	-21.2%
Ghana	60.1	N/A	N/A	N/A	0%
Others	4.3	3.6	2.8	3.1	-10.3%
Total	665	442	410	446	-12.5%

Top Export Markets for Tractor from Nigeria in 2022:

Senegal (8.0 units)
Egypt (7.0 units)
United States (5.0 units)
Niger (1.0 units)
Cameroon (1.0 units)
Benin (1.0 units)

Source: IndexBox Market Intelligence Platform

This report provides an in-depth analysis of the tractor 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 28301000 - Pedestrian-controlled tractors
Prodcom 28302100 - New agricultural and forestry tractors, wheeled, of an engine power . .37 kW
Prodcom 28302200 - New agricultural and forestry tractors, wheeled, of an engine power > .37 kW but . .59 kW (excluding pedestrian-controlled tractors)
Prodcom 28302330 - New agricultural and forestry tractors, wheeled, of an engine power > .59 kW but . .75 kW (excluding pedestrian-controlled tractors)
Prodcom 28302350 - New agricultural and forestry tractors, wheeled, of an engine power > .75 kW but . .90 kW (excluding pedestrian-controlled tractors)
Prodcom 28302370 - New agricultural and forestry tractors, wheeled, of an engine power > .90 kW (excluding pedestrian-controlled tractors)
Prodcom 28302390 - New tractors excluding agricultural/forestry tractors, wheeled, p edestrian-controlled tractors - road tractors for semi-trailers, t rack-laying tractors -tractors used on railway platforms
Prodcom 28925000 - (Crawler tractors) Track-laying tractors
Prodcom 29104300 - Road tractors for semi-trailers

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