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Nigeria - Power Tools - Market Analysis, Forecast, Size, Trends and Insights
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Nigeria: Power Tool Market Overview 2021

Power Tool Market Size in Nigeria

In 2020, the Nigerien power tool market decreased by -X% to $X, falling for the second consecutive year after two years of growth. Overall, consumption, however, recorded a strong expansion. The most prominent rate of growth was recorded in 2018 when the market value increased by X% against the previous year. As a result, consumption attained the peak level of $X. from 2019 to 2020, the growth of the market failed to regain the momentum.

Power Tool Exports

Exports from Nigeria

In 2020, overseas shipments of power tools decreased by -X% to X units, falling for the third consecutive year after two years of growth. In general, exports, however, enjoyed a slight increase. The growth pace was the most rapid in 2017 when exports increased by X% against the previous year. As a result, exports attained the peak of X units. from 2018 to 2020, the growth exports remained at a lower figure.

In value terms, power tool exports fell dramatically to $X in 2020. Overall, exports, however, showed a deep setback. The most prominent rate of growth was recorded in 2009 with an increase of X% against the previous year. As a result, exports attained the peak of $X. from 2010 to 2020, the growth exports remained at a somewhat lower figure.

Exports by Country

The Netherlands (X units) was the main destination for power tool exports from Nigeria, with a X% share of total exports. Moreover, power tool exports to the Netherlands exceeded the volume sent to the second major destination, South Africa (X units), sixfold.

From 2007 to 2020, the average annual growth rate of volume to the Netherlands stood at -X%. Exports to the other major destinations recorded the following average annual rates of exports growth: South Africa (+X% per year) and Finland (X% per year).

In value terms, Finland ($X), the Netherlands ($X) and South Africa ($X) constituted the largest markets for power tool exported from Nigeria worldwide.

Among the main countries of destination, the Netherlands saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2020, the average power tool export price amounted to $X per unit, remaining constant against the previous year. In general, the export price showed a deep slump. The growth pace was the most rapid in 2009 when the average export price increased by X% y-o-y. As a result, export price reached the peak level of $X per unit. from 2010 to 2020, the growth in terms of the average export prices remained at a somewhat lower figure.

Prices varied noticeably by the country of destination; the country with the highest price was Finland ($X per unit), while the average price for exports to the Netherlands ($X per unit) was amongst the lowest.

From 2007 to 2020, the most notable rate of growth in terms of prices was recorded for supplies to the Netherlands, while the prices for the other major destinations experienced mixed trend patterns.

Power Tool Imports

Imports into Nigeria

In 2020, purchases abroad of power tools decreased by -X% to X units, falling for the second consecutive year after two years of growth. Over the period under review, imports, however, recorded a relatively flat trend pattern. The growth pace was the most rapid in 2018 with an increase of X% y-o-y. As a result, imports attained the peak of X units. from 2019 to 2020, the growth imports failed to regain the momentum.

In value terms, power tool imports plummeted to $X in 2020. In general, imports, however, recorded a remarkable increase. The pace of growth was the most pronounced in 2018 when imports increased by X% y-o-y. As a result, imports reached the peak of $X. from 2019 to 2020, the growth imports failed to regain the momentum.

Imports by Country

In 2020, China (X units) was the main supplier of power tool to Nigeria, accounting for a approx. X% share of total imports.

From 2007 to 2020, the average annual growth rate of volume from China totaled +X%.

In value terms, China ($X) constituted the largest supplier of power tool to Nigeria.

From 2007 to 2020, the average annual growth rate of value from China amounted to +X%.

Import Prices by Country

In 2020, the average power tool import price amounted to $X per unit, increasing by X% against the previous year. Over the period under review, the import price continues to indicate a resilient expansion. The most prominent rate of growth was recorded in 2010 an increase of X% year-to-year. The import price peaked in 2020 and is likely to continue growth in the immediate term.

As there is only one major supplying country, the average price level is determined by prices for China.

From 2007 to 2020, the rate of growth in terms of prices for China amounted to +X% per year.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for power tools in the world?
+
The countries with the highest volumes of power tool consumption in 2020 were China (101M units), the U.S. (94M units) and Russia (37M units), together comprising 47% of global consumption. These countries were followed by Japan, Germany, France, the UK, Mexico, Canada, Brazil, Thailand, Australia and Italy, which together accounted for a further 27%.
What are the largest producers of power tools in the world?
+
China (410M units) constituted the country with the largest volume of power tool production, comprising approx. 76% of total volume. Moreover, power tool production in China exceeded the figures recorded by the second-largest producer, Mexico (23M units), more than tenfold. The third position in this ranking was occupied by Russia (19M units), with a 3.6% share.
What are the leading suppliers of power tools to Nigeria?
+
In value terms, China ($10M) constituted the largest supplier of power tool to Nigeria.
What are the leading importers of power tools from Nigeria?
+
In value terms, the largest markets for power tool exported from Nigeria were Finland ($6.5K), the Netherlands ($6.3K) and South Africa ($3.6K).
What is the average export price for power tools in Nigeria?
+
The average power tool export price stood at $31 per unit in 2020, standing approx. at the previous year.
What is the average import price for power tools in Nigeria?
+
In 2020, the average power tool import price amounted to $100 per unit, surging by 33% against the previous year.

Product coverage:
• Prodcom 28241113 - Electromechanical hand drills operated without an external source of power
• Prodcom 28241115 - Electropneumatic drills of all kinds for working in the hand
• Prodcom 28241117 - Electromechanical hand drills of all kinds (excluding those operated without an external source of power, e lectropneumatic)
• Prodcom 28241123 - Electromechanical chainsaws
• Prodcom 28241125 - Electromechanical circular saws
• Prodcom 28241127 - Electromechanical handsaws (excluding chainsaws, circular saws)
• Prodcom 28241133 -
• Prodcom 28241135 -
• Prodcom 28241150 - Grinders, sanders and planers, for working in the hand, with self-contained electric motor, operating with an external source of power
• Prodcom 28241180 - Electromechanical hedge trimmers and lawn edge cutters
• Prodcom 28241190 -

This report provides an in-depth analysis of the power tool 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 2025.


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:
1. How to diversify your business and benefit from new market opportunities
2. How to load your idle production capacity
3. How to boost your sales on overseas markets
4. How to increase your profit margins
5. How to make your supply chain more sustainable
6. How to reduce your production and supply chain costs
7. How to outsource production to other countries
8. 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

1.1
REPORT DESCRIPTION
1.2
RESEARCH METHODOLOGY AND AI PLATFORM
1.3
DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
1.4
GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance

2.1
KEY FINDINGS
2.2
MARKET TRENDS
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects

3.1
MARKET SIZE
3.2
MARKET STRUCTURE
3.3
TRADE BALANCE
3.4
PER CAPITA CONSUMPTION
3.5
MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCTS

Finding New Products to Diversify Your Business

4.1
TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
4.2
BEST-SELLING PRODUCTS
4.3
MOST CONSUMED PRODUCT
4.4
MOST TRADED PRODUCT
4.5
MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain

5.1
TOP COUNTRIES TO SOURCE YOUR PRODUCT
5.2
TOP PRODUCING COUNTRIES
5.3
TOP EXPORTING COUNTRIES
5.4
LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports

6.1
TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
6.2
TOP CONSUMING MARKETS
6.3
UNSATURATED MARKETS
6.4
TOP IMPORTING MARKETS
6.5
MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry

7.1
PRODUCTION VOLUME AND VALUE
8. IMPORTS

The Largest Import Supplying Countries

8.1
IMPORTS FROM 2007–2020
8.2
IMPORTS BY COUNTRY
8.3
IMPORT PRICES BY COUNTRY
9. EXPORTS

The Largest Destinations for Exports

9.1
EXPORTS FROM 2007–2020
9.2
EXPORTS BY COUNTRY
9.3
EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles

LIST OF TABLES
Table 1:
Key Findings In 2020
Table 2:
Market Volume, In Physical Terms, 2007–2020
Table 3:
Market Value, 2007–2020
Table 4:
Per Capita Consumption In 2007–2020
Table 5:
Imports, In Physical Terms, By Country, 2007–2020
Table 6:
Imports, In Value Terms, By Country, 2007–2020
Table 7:
Import Prices, By Country Of Origin, 2007–2020
Table 8:
Exports, In Physical Terms, By Country, 2007–2020
Table 9:
Exports, In Value Terms, By Country, 2007–2020
Table 10:
Export Prices, By Country Of Destination, 2007–2020
LIST OF FIGURES
Figure 1:
Market Volume, In Physical Terms, 2007–2020
Figure 2:
Market Value, 2007–2020
Figure 3:
Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2007–2020
Figure 4:
Market Structure – Domestic Supply vs. Imports, In Value Terms, 2007–2020
Figure 5:
Trade Balance, In Physical Terms, 2007–2020
Figure 6:
Trade Balance, In Value Terms, 2007–2020
Figure 7:
Per Capita Consumption, 2007–2020
Figure 8:
Market Forecast To 2025
Figure 9:
Products: Market Size And Growth, By Type
Figure 10:
Products: Average Per Capita Consumption, By Type
Figure 11:
Products: Exports And Growth, By Type
Figure 12:
Products: Export Prices And Growth, By Type
Figure 13:
Production Volume And Growth
Figure 14:
Exports And Growth
Figure 15:
Export Prices And Growth
Figure 16:
Market Size And Growth
Figure 17:
Per Capita Consumption
Figure 18:
Imports And Growth
Figure 19:
Import Prices
Figure 20:
Production, In Physical Terms, 2007–2020
Figure 21:
Production, In Value Terms, 2007–2020
Figure 22:
Imports, In Physical Terms, 2007–2020
Figure 23:
Imports, In Value Terms, 2007–2020
Figure 24:
Imports, In Physical Terms, By Country, 2020
Figure 25:
Imports, In Physical Terms, By Country, 2007–2020
Figure 26:
Imports, In Value Terms, By Country, 2007–2020
Figure 27:
Import Prices, By Country Of Origin, 2007–2020
Figure 28:
Exports, In Physical Terms, 2007–2020
Figure 29:
Exports, In Value Terms, 2007–2020
Figure 30:
Exports, In Physical Terms, By Country, 2020
Figure 31:
Exports, In Physical Terms, By Country, 2007–2020
Figure 32:
Exports, In Value Terms, By Country, 2007–2020
Figure 33:
Export Prices, By Country Of Destination, 2007–2020

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