Report Update: May 1, 2024

Nigeria - Cargo Trailers and Semi-Trailers - Market Analysis, Forecast, Size, Trends And Insights

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Trailer and Semi-Trailer Price in Nigeria - 2022

Trailer and Semi-Trailer Price in Nigeria (CIF) - 2022

The average trailer and semi-trailer import price stood at $4,184 per unit in 2022, rising by 124% against the previous year. Overall, the import price posted a resilient expansion. The pace of growth appeared the most rapid in 2017 an increase of 357% against the previous year. As a result, import price attained the peak level of $11,824 per unit. From 2018 to 2022, the average 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 Turkey ($9,624 per unit), while the price for Italy ($1,621 per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Sweden (+50.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Trailer and Semi-Trailer Price in Nigeria (FOB) - 2022

In 2022, the average trailer and semi-trailer export price amounted to $679 per unit, which is down by -84.7% against the previous year. Overall, the export price continues to indicate a deep reduction. The most prominent rate of growth was recorded in 2014 an increase of 445%. As a result, the export price reached the peak level of $19,285 per unit. From 2015 to 2022, the average export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Benin ($1,040 per unit), while the average price for exports to Niger stood at $543 per unit.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Niger (+15.2%).

Trailer and Semi-Trailer Imports in Nigeria

In 2022, imports of cargo trailers and semi-trailers into Nigeria contracted remarkably to 17K units, waning by -24% against the previous year. Over the period under review, imports saw a deep slump. The pace of growth appeared the most rapid in 2021 when imports increased by 146% against the previous year. As a result, imports attained the peak of 23K units, and then reduced dramatically in the following year.

In value terms, trailer and semi-trailer imports soared to $72M in 2022. In general, imports, however, posted a significant increase. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Import of Trailer and Semi-Trailer in Nigeria (Million USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
China	13.2	8.0	25.9	50.7	56.6%
Turkey	0.6	1.3	0.7	3.3	76.5%
United States	1.1	0.4	2.0	1.6	13.3%
Brazil	0.9	0.8	0.3	1.3	13.0%
United Kingdom	0.9	0.4	0.6	1.1	6.9%
Germany	0.3	1.7	0.5	0.7	32.6%
Italy	N/A	1.1	0.4	0.6	-26.1%
India	1.7	1.9	0.9	0.3	-43.9%
Others	8.7	11.7	10.9	12.3	12.2%
Total	27.6	27.2	42.1	71.7	37.5%

Top Suppliers of Trailer and Semi-Trailer to Nigeria in 2022:

India (undefinedK units)
China (13.4K units)
Italy (0.4K units)
Turkey (0.3K units)
United States (0.3K units)
United Kingdom (0.3K units)
Germany (0.3K units)
Brazil (0.2K units)

Trailer and Semi-Trailer Exports in Nigeria

In 2022, the amount of cargo trailers and semi-trailers exported from Nigeria soared to 441 units, jumping by 660% compared with 2021 figures. Over the period under review, exports continue to indicate a significant expansion. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, trailer and semi-trailer exports skyrocketed to $300K in 2022. Overall, total exports indicated a resilient expansion from 2019 to 2022: its value increased at an average annual rate of +13.7% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports decreased by -12.2% against 2020 indices. The most prominent rate of growth was recorded in 2020 with an increase of 67%. As a result, the exports attained the peak of $341K. From 2021 to 2022, the growth of the exports remained at a lower figure.

Export of Trailer and Semi-Trailer in Nigeria (Thousand USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
Niger	9.1	47.2	25.2	191	175.8%
Benin	2.7	11.5	49.4	89.5	221.2%
Angola	N/A	282	N/A	N/A	0%
Netherlands	45.5	N/A	N/A	N/A	0%
Others	147	0.2	183	19.5	-49.0%
Total	204	341	258	300	13.7%

Top Export Markets for Trailer and Semi-Trailer from Nigeria in 2022:

Niger (351.0 units)
Benin (86.0 units)

Source: IndexBox Market Intelligence Platform

This report provides an in-depth analysis of the trailer and semi-trailer 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 29202300 - Other trailers and semi-trailers for the transport of goods

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