Report Update: Apr 1, 2024

Nigeria - Seats For Motor Vehicles - Market Analysis, Forecast, Size, Trends And Insights

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Vehicle Seat Price in Nigeria - 2022

Vehicle Seat Price in Nigeria (CIF) - 2022

In 2022, the average vehicle seat import price amounted to $104 per unit, with a decrease of -47.9% against the previous year. In general, the import price continues to indicate a noticeable curtailment. The growth pace was the most rapid in 2018 when the average import price increased by 57% against the previous year. The import price peaked at $266 per unit in 2019; however, from 2020 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 the UK ($189 per unit), while the price for Malaysia ($11 per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Spain (+362.1%), while the prices for the other major suppliers experienced mixed trend patterns.

Vehicle Seat Price in Nigeria (FOB) - 2022

In 2022, the average vehicle seat export price amounted to $124 per unit, with a decrease of -43.1% against the previous year. Overall, the export price, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when the average export price increased by 246% against the previous year. Over the period under review, the average export prices reached the maximum at $238 per unit in 2018; however, from 2019 to 2022, the export prices failed to regain momentum.

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 Cote d'Ivoire ($284 per unit), while the average price for exports to Canada ($10 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 Uganda (+29.8%), while the prices for the other major destinations experienced more modest paces of growth.

Vehicle Seat Imports in Nigeria

In 2022, the amount of seats for motor vehicles imported into Nigeria soared to 862 units, jumping by 213% on 2021 figures. Overall, imports continue to indicate a significant expansion. The most prominent rate of growth was recorded in 2020 when imports increased by 2,149% against the previous year. As a result, imports attained the peak of 4K units. From 2021 to 2022, the growth of imports failed to regain momentum.

In value terms, vehicle seat imports skyrocketed to $90K in 2022. Over the period under review, imports saw a significant expansion. The pace of growth was the most pronounced in 2020 with an increase of 1,249%. As a result, imports attained the peak of $646K. From 2021 to 2022, the growth of imports failed to regain momentum.

Import of Vehicle Seat in Nigeria (Thousand USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
Spain	N/A	4.7	0.4	66.4	275.9%
China	0.8	449	3.1	13.6	157.1%
United Kingdom	14.7	39.0	15.3	3.6	-37.4%
Germany	3.2	21.2	7.6	1.8	-17.5%
Others	29.2	132	28.7	4.5	-46.4%
Total	47.8	646	55.1	89.9	23.4%

Top Suppliers of Vehicle Seat to Nigeria in 2022:

Spain (673.0 units)
China (112.0 units)
United Kingdom (19.0 units)
Germany (10.0 units)

Vehicle Seat Exports in Nigeria

In 2022, approx. 19 units of seats for motor vehicles were exported from Nigeria; increasing by 12% compared with the year before. The total export volume increased at an average annual rate of +3.8% over the period from 2019 to 2022; the trend pattern remained relatively stable, with only minor 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, vehicle seat exports declined rapidly to $2.4K in 2022. In general, exports enjoyed a buoyant expansion. The pace of growth appeared the most rapid in 2021 with an increase of 268% against the previous year. As a result, the exports attained the peak of $3.7K, and then dropped significantly in the following year.

Export of Vehicle Seat in Nigeria (USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
Cote d'Ivoire	1,414	2.0	1,538	1,705	6.4%
Sao Tome and Principe	105	221	176	205	25.0%
Gambia	149	283	49.0	179	6.3%
Benin	89.0	288	201	83.0	-2.3%
Uganda	82.0	1.0	62.0	68.0	-6.0%
Angola	26.0	62.0	47.0	52.0	26.0%
Niger	69.0	109	64.0	43.0	-14.6%
Ghana	13.0	25.0	19.0	20.0	15.4%
Canada	5.0	N/A	N/A	10.0	26.0%
Others	65.0	20.0	1,563	N/A	390.4%
Total	2,017	1,011	3,719	2,365	5.4%

Top Export Markets for Vehicle Seat from Nigeria in 2022:

Gambia (6.0 units)
Cote d'Ivoire (6.0 units)
Ghana (1.0 units)
Canada (1.0 units)
Sao Tome and Principe (1.0 units)
Angola (1.0 units)
Uganda (1.0 units)
Niger (1.0 units)
Benin (1.0 units)

Source: IndexBox Market Intelligence Platform

This report provides an in-depth analysis of the vehicle seat 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 29321000 - Seats for motor vehicles

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