Nigeria: Market for Vacuum Pumps and Air or Gas Compressors 2024

Market Size for Vacuum Pumps and Air or Gas Compressors in Nigeria

In 2022, the Nigerien market for vacuum pumps and air or gas compressors decreased by X% to $X, falling for the third consecutive year after three years of growth. In general, consumption, however, posted a modest expansion. Over the period under review, the market attained the maximum level at $X in 2019; however, from 2020 to 2022, consumption failed to regain momentum.

Exports of Vacuum Pumps and Air or Gas Compressors

Exports from Nigeria

In 2022, approx. X units of vacuum pumps and air or gas compressors were exported from Nigeria; declining by X% against the previous year. Overall, exports continue to indicate a dramatic curtailment. The pace of growth appeared the most rapid in 2014 with an increase of X%. As a result, the exports attained the peak of X units. From 2015 to 2022, the growth of the exports of remained at a lower figure.

In value terms, exports of vacuum pumps and air or gas compressors reduced notably to $X in 2022. Over the period under review, exports recorded a significant contraction. The pace of growth appeared the most rapid in 2013 with an increase of X%. As a result, the exports reached the peak of $X. From 2014 to 2022, the growth of the exports of remained at a lower figure.

Exports by Country

Senegal (X units), Turkey (X units) and the UK (X units) were the main destinations of exports of vacuum pumps and air or gas compressors from Nigeria, together accounting for X% of total exports.

From 2012 to 2022, the biggest increases were recorded for Senegal (with a CAGR of X%), while shipments for the other leaders experienced mixed trend patterns.

In value terms, Senegal ($X) emerged as the key foreign market for vacuum pumps and air or gas compressors exports from Nigeria, comprising X% of total exports. The second position in the ranking was held by Turkey ($X), with a X% share of total exports. It was followed by the UK, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Senegal stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Turkey (X% per year) and the UK (X% per year).

Export Prices by Country

The average export price for vacuum pumps and air or gas compressors stood at $X per unit in 2022, with a decrease of X% against the previous year. In general, the export price saw a slight shrinkage. The most prominent rate of growth was recorded in 2015 when the average export price increased by X%. The export price peaked at $X per unit in 2013; however, from 2014 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Senegal ($X per unit), while the average price for exports to Ghana ($X 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 China (X%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Vacuum Pumps and Air or Gas Compressors

Imports into Nigeria

In 2022, overseas purchases of vacuum pumps and air or gas compressors decreased by X% to X units, falling for the third year in a row after three years of growth. Over the period under review, imports, however, posted a temperate expansion. The most prominent rate of growth was recorded in 2019 when imports increased by X%. Over the period under review, imports of hit record highs at X units in 2015; however, from 2016 to 2022, imports remained at a lower figure.

In value terms, imports of vacuum pumps and air or gas compressors shrank to $X in 2022. In general, imports, however, showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2014 when imports increased by X%. As a result, imports reached the peak of $X. From 2015 to 2022, the growth of imports of failed to regain momentum.

Imports by Country

In 2022, China (X units) constituted the largest vacuum pump and air or gas compressor supplier to Nigeria, accounting for a X% share of total imports. Moreover, imports of vacuum pumps and air or gas compressors from China exceeded the figures recorded by the second-largest supplier, India (X units), twofold. Germany (X units) ranked third in terms of total imports with a X% share.

From 2012 to 2022, the average annual growth rate of volume from China stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: India (X% per year) and Germany (X% per year).

In value terms, the largest vacuum pump and air or gas compressor suppliers to Nigeria were China ($X), India ($X) and Germany ($X), together accounting for X% of total imports. The United States, Belgium, Switzerland, Italy, the UK and Japan lagged somewhat behind, together comprising a further X%.

Switzerland, with a CAGR of X%, recorded the highest rates of growth with regard to the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average import price for vacuum pumps and air or gas compressors amounted to $X per unit, with an increase of X% against the previous year. Over the period under review, the import price, however, showed a perceptible shrinkage. The growth pace was the most rapid in 2016 an increase of X%. The import price peaked at $X per unit in 2012; however, from 2013 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 Japan ($X per unit), while the price for the UK ($X per unit) was amongst the lowest.

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

Source: IndexBox Platform

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