Nigeria: Market for Electrical Transformers with Liquid Dielectric, of Power Handling Capacity from 1 kVA - 650 kVA 2023

Market Size for Electrical Transformers with Liquid Dielectric, of Power Handling Capacity from 1 kVA - 650 kVA in Nigeria

The Nigerien market for electrical transformers with liquid dielectric, of power handling capacity from X kVA - X kVA soared to $X in 2022, picking up by 514% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). In general, consumption, however, showed a deep reduction. As a result, consumption attained the peak level of $X. From 2021 to 2022, the growth of the market remained at a lower figure.

Exports of Electrical Transformers with Liquid Dielectric, of Power Handling Capacity from 1 kVA - 650 kVA

Exports from Nigeria

In 2022, the amount of electrical transformers with liquid dielectric, of power handling capacity from X kVA - X kVA exported from Nigeria surged to X units, increasing by 800% against 2021. Overall, exports saw a significant increase. The growth pace was the most rapid in 2020 when exports increased by 1,600% against the previous year. As a result, the exports reached the peak of X units. From 2021 to 2022, the growth of the exports of remained at a somewhat lower figure.

In value terms, exports of electrical transformers with liquid dielectric, of power handling capacity from X kVA - X kVA soared to $X in 2022. In general, exports, however, showed a abrupt contraction. The pace of growth was the most pronounced in 2016 when exports increased by 79%. Over the period under review, the exports of reached the maximum at $X in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

Exports by Country

Benin (X units) and Niger (X units) were the main destinations of exports of electrical transformers with liquid dielectric, of power handling capacity from X kVA - X kVA from Nigeria. Moreover, exports of electrical transformers with liquid dielectric, of power handling capacity from X kVA - X kVA in Benin exceeded the figures recorded by the second-largest exporter, Niger, twofold.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Niger (with a CAGR of 0.0%).

In value terms, Benin ($X) remains the key foreign market for electrical transformers with liquid dielectric, of power handling capacity from X kVA - X kVA exports from Nigeria, comprising 72% of total exports. The second position in the ranking was held by Niger ($X), with a 27% share of total exports. It was followed by the UK, with a 0.6% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Benin stood at +28.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Niger (+14.3% per year) and the UK (-33.5% per year).

Export Prices by Country

The average export price for electrical transformers with liquid dielectric, of power handling capacity from X kVA - X kVA stood at $X per unit in 2022, declining by -84% against the previous year. Over the period under review, the export price continues to indicate a sharp reduction. The pace of growth was the most pronounced in 2021 an increase of 806% against the previous year. Over the period under review, the average export prices reached the peak figure at $X per unit in 2012; however, from 2013 to 2022, the export prices remained at a lower figure.

Average prices varied noticeably for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Benin ($X per unit), while the average price for exports to Niger amounted to $X per unit.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Ghana (0.0%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Electrical Transformers with Liquid Dielectric, of Power Handling Capacity from 1 kVA - 650 kVA

Imports into Nigeria

Imports of electrical transformers with liquid dielectric, of power handling capacity from X kVA - X kVA into Nigeria skyrocketed to X units in 2022, rising by 519% against 2021 figures. Overall, imports, however, showed a abrupt descent. The most prominent rate of growth was recorded in 2020 when imports increased by 1,502%. As a result, imports attained the peak of X units. From 2021 to 2022, the growth of imports of remained at a lower figure.

In value terms, imports of electrical transformers with liquid dielectric, of power handling capacity from X kVA - X kVA skyrocketed to $X in 2022. Over the period under review, imports, however, continue to indicate a deep setback. Imports peaked at $X in 2012; however, from 2013 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, Turkey (X units) constituted the largest electrical transformers with liquid dielectric, of power handling capacity from X kVA - X kVA supplier to Nigeria, with a 66% share of total imports. Moreover, imports of electrical transformers with liquid dielectric, of power handling capacity from X kVA - X kVA from Turkey exceeded the figures recorded by the second-largest supplier, India (X units), tenfold. China (X units) ranked third in terms of total imports with a 4.8% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Turkey totaled +5.8%. The remaining supplying countries recorded the following average annual rates of imports growth: India (-24.2% per year) and China (+7.0% per year).

In value terms, Turkey ($X) constituted the largest supplier of electrical transformers with liquid dielectric, of power handling capacity from X kVA - X kVA to Nigeria, comprising 49% of total imports. The second position in the ranking was taken by Sweden ($X), with a 7.6% share of total imports. It was followed by China, with a 4.8% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Turkey stood at +3.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Sweden (+2.4% per year) and China (-10.4% per year).

Import Prices by Country

In 2022, the average import price for electrical transformers with liquid dielectric, of power handling capacity from X kVA - X kVA amounted to $X per unit, with a decrease of -13.9% against the previous year. Overall, the import price, however, saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 an increase of 2,354% against the previous year. The import price peaked at $X per unit in 2013; however, from 2014 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 Sweden ($X per unit), while the price for Japan ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Poland (+18.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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