Nigeria: Electrical Insulating Fittings Market Overview 2021

Electrical Insulating Fittings Market Size in Nigeria

In 2020, after two years of growth, there was significant decline in the Nigerien electrical insulating fittings market, when its value decreased by -X% to $X. In general, consumption saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2010 when the market value increased by X% y-o-y. As a result, consumption attained the peak level of $X. From 2011 to 2020, the growth of the market remained at a somewhat lower figure.

Electrical Insulating Fittings Production in Nigeria

In value terms, electrical insulating fittings production declined to $X in 2020 estimated in export prices. Overall, production saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2010 with an increase of X% y-o-y. As a result, production reached the peak level of $X. From 2011 to 2020, production growth remained at a lower figure.

Electrical Insulating Fittings Exports

Exports from Nigeria

In 2020, approx. X units of electrical insulating fittings of plastics were exported from Nigeria; jumping by X% on the previous year's figure. Overall, exports, however, saw a abrupt slump. The most prominent rate of growth was recorded in 2010 when exports increased by X% y-o-y. Over the period under review, exports reached the peak figure at X units in 2011; however, from 2012 to 2020, exports stood at a somewhat lower figure.

In value terms, electrical insulating fittings exports amounted to $X in 2020. Over the period under review, exports, however, faced a sharp downturn. The most prominent rate of growth was recorded in 2011 when exports increased by X% year-to-year. As a result, exports attained the peak of $X. From 2012 to 2020, the growth exports failed to regain the momentum.

Exports by Country

Ghana (X units) and Cote d'Ivoire (X units) were the main destinations of electrical insulating fittings exports from Nigeria.

From 2007 to 2020, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Cote d'Ivoire.

In value terms, Cote d'Ivoire ($X) remains the key foreign market for electrical insulating fittings exports from Nigeria, comprising X% of total exports. The second position in the ranking was occupied by Ghana ($X), with a X% share of total exports.

From 2007 to 2020, the average annual rate of growth in terms of value to Cote d'Ivoire totaled -X%.

Export Prices by Country

In 2020, the average electrical insulating fittings export price amounted to $X per unit, falling by -X% against the previous year. In general, the export price saw a deep downturn. The most prominent rate of growth was recorded in 2015 an increase of X% against the previous year. The export price peaked at $X per unit in 2011; however, from 2012 to 2020, export prices remained at a lower figure.

Prices varied noticeably by the country of destination; the country with the highest price was Cote d'Ivoire ($X per unit), while the average price for exports to Ghana totaled $X per unit.

From 2007 to 2020, the most notable rate of growth in terms of prices was recorded for supplies to Ghana.

Electrical Insulating Fittings Imports

Imports into Nigeria

In 2020, approx. X units of electrical insulating fittings of plastics were imported into Nigeria; remaining constant against 2019 figures. Overall, imports enjoyed a buoyant expansion. Over the period under review, imports attained the maximum in 2020 and are likely to see gradual growth in years to come.

In value terms, electrical insulating fittings imports stood at $X in 2020. Over the period under review, imports continue to indicate a mild reduction. Over the period under review, imports hit record highs at $X in 2007; however, from 2008 to 2020, imports stood at a somewhat lower figure.

Imports by Country

Turkey (X units), Viet Nam (X units) and Malaysia (X units) were the main suppliers of electrical insulating fittings imports to Nigeria, with a combined X% share of total imports. These countries were followed by Indonesia, China, Spain and Germany, which together accounted for a further X 2007 to 2020, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Indonesia (+X% per year), while imports for the other leaders experienced more modest paces of growth.

In value terms, Turkey ($X), Viet Nam ($X) and Indonesia ($X) were the largest electrical insulating fittings suppliers to Nigeria, with a combined X% share of total imports.

Indonesia (+X% per year) 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

The average electrical insulating fittings import price stood at $X per unit in 2020, therefore, remained relatively stable against the previous year. In general, the import price recorded a deep contraction. Over the period under review, average import prices hit record highs at $X per unit in 2007; however, from 2008 to 2020, import prices remained at a lower figure.

Prices varied noticeably by the country of origin; the country with the highest price was Indonesia ($X per unit), while the price for Spain ($X per unit) was amongst the lowest.

From 2007 to 2020, the most notable rate of growth in terms of prices was attained by Viet Nam, while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for electrical insulating fittings of plastics in the world?

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The countries with the highest volumes of electrical insulating fittings consumption in 2020 were China (79M units), the U.S. (46M units) and India (29M units), with a combined 44% share of global consumption. These countries were followed by Japan, Germany, the Czech Republic, Nigeria, Mexico, Morocco, France, South Korea, Romania and Italy, which together accounted for a further 27%.

What are the largest producers of electrical insulating fittings of plastics in the world?

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The countries with the highest volumes of electrical insulating fittings production in 2020 were China (76M units), the U.S. (45M units) and Germany (32M units), with a combined 47% share of global production. Japan, India, South Korea, Nigeria, Austria, France, Italy and Hungary lagged somewhat behind, together comprising a further 33%.

What are the leading suppliers of electrical insulating fittings of plastics to Nigeria?

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In value terms, the largest electrical insulating fittings suppliers to Nigeria were Turkey ($29K), Viet Nam ($19K) and Indonesia ($15K), together comprising 42% of total imports.

What are the leading importers of electrical insulating fittings of plastics from Nigeria?

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In value terms, Cote d'Ivoire ($102) remains the key foreign market for electrical insulating fittings exports from Nigeria, comprising 67% of total exports. The second position in the ranking was occupied by Ghana ($51), with a 33% share of total exports.

What is the average export price for electrical insulating fittings of plastics in Nigeria?

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The average electrical insulating fittings export price stood at $14 per unit in 2020, falling by -34.4% against the previous year.

What is the average import price for electrical insulating fittings of plastics in Nigeria?

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In 2020, the average electrical insulating fittings import price amounted to $9.9 per unit, approximately mirroring the previous year.