Nigeria: Electrical Transformer Market 2024

Electrical Transformer Market Size in Nigeria

The Nigerien electrical transformer market skyrocketed to $X in 2022, jumping by X% against the previous year. Over the period under review, consumption, however, recorded a abrupt slump. Over the period under review, the market attained the peak level at $X in 2012; however, from 2013 to 2022, consumption stood at a somewhat lower figure.

Electrical Transformer Production in Nigeria

In value terms, electrical transformer production stood at $X in 2022 estimated in export price. In general, production, however, saw a deep slump. The growth pace was the most rapid in 2020 with an increase of X%. Over the period under review, production reached the peak level at $X in 2012; however, from 2013 to 2022, production stood at a somewhat lower figure.

Electrical Transformer Exports

Exports from Nigeria

In 2022, the amount of electrical transformers exported from Nigeria soared to X units, increasing by X% on the year before. In general, exports, however, continue to indicate a deep setback. The growth pace was the most rapid in 2014 with an increase of X% against the previous year. As a result, the exports reached the peak of X units. From 2015 to 2022, the growth of the exports remained at a lower figure.

In value terms, electrical transformer exports surged to $X in 2022. Over the period under review, exports enjoyed buoyant growth. Over the period under review, the exports attained the maximum at $X in 2014; however, from 2015 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Zambia (X units) was the main destination for electrical transformer exports from Nigeria, accounting for a X% share of total exports. It was followed by Ghana (X units), with a X% share of total exports.

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

In value terms, Zambia ($X) emerged as the key foreign market for electrical transformers exports from Nigeria, comprising X% of total exports. The second position in the ranking was held by Ghana ($X), with a X% share of total exports.

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

Export Prices by Country

The average electrical transformer export price stood at $X per unit in 2022, rising by X% against the previous year. In general, the export price showed significant growth. The most prominent rate of growth was recorded in 2018 an increase of X%. The export price peaked at $X per unit in 2015; however, from 2016 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Zambia ($X per unit), while the average price for exports to the Netherlands ($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 Ghana (X%), while the prices for the other major destinations experienced mixed trend patterns.

Electrical Transformer Imports

Imports into Nigeria

In 2022, the amount of electrical transformers imported into Nigeria skyrocketed to X units, increasing by X% compared with the previous year. Overall, imports recorded measured growth. The pace of growth appeared the most rapid in 2014 when imports increased by X%. As a result, imports reached the peak of X units. From 2015 to 2022, the growth of imports failed to regain momentum.

In value terms, electrical transformer imports soared to $X in 2022. Over the period under review, imports, however, recorded a perceptible slump. Over the period under review, imports hit record highs at $X in 2014; however, from 2015 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, China (X units) constituted the largest electrical transformer supplier to Nigeria, with a X% share of total imports. Moreover, electrical transformer imports from China exceeded the figures recorded by the second-largest supplier, Turkey (X units), ninefold.

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

In value terms, China ($X), India ($X) and Turkey ($X) constituted the largest electrical transformer suppliers to Nigeria, with a combined X% share of total imports.

China, with a CAGR of X%, saw the highest rates of growth with regard to the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced mixed trend patterns.

Import Prices by Country

In 2022, the average electrical transformer import price amounted to $X per unit, declining by X% against the previous year. In general, the import price recorded a abrupt decline. The pace of growth was the most pronounced in 2016 when the average import price increased by X% against the previous year. The import price peaked at $X per unit in 2020; however, from 2021 to 2022, import prices stood at a somewhat 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 India ($X per unit), while the price for China ($X per unit) was amongst the lowest.

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

Source: IndexBox Platform