Report Update Apr 1, 2024

Nigeria - Flywheels and Pulleys - Market Analysis, Forecast, Size, Trends and Insights

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Nigeria: Flywheels And Pulleys Market 2024

Flywheels And Pulleys Market Size in Nigeria

In 2022, the Nigerien flywheels and pulleys market decreased by X% to $X for the first time since 2017, thus ending a four-year rising trend. In general, consumption, however, saw significant growth. As a result, consumption attained the peak level of $X, and then dropped in the following year.

Flywheels And Pulleys Exports

Exports from Nigeria

In 2022, approx. X tons of flywheels and pulleys were exported from Nigeria; increasing by X% on the previous year's figure. In general, exports saw a significant expansion. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, flywheels and pulleys exports reduced markedly to $X in 2022. Over the period under review, exports, however, saw a sharp setback. The exports peaked at $X in 2021, and then reduced markedly in the following year.

Exports by Country

Angola (X tons) was the main destination for flywheels and pulleys exports from Nigeria, with a X% share of total exports. It was followed by Romania (X kg), with less than X% share of total exports.

From 2021 to 2022, the average annual growth rate of volume to Angola stood at X%.

In value terms, Angola ($X) and Romania ($X) appeared to be the largest markets for flywheels and pulleys exported from Nigeria worldwide.

Angola, with a CAGR of X%, saw the highest rates of growth with regard to the value of exports, in terms of the main countries of destination over the period under review.

Export Prices by Country

The average flywheels and pulleys export price stood at $X per ton in 2022, reducing by X% against the previous year. In general, the export price saw a dramatic shrinkage. Over the period under review, the average export prices attained the maximum at $X per ton in 2021, and then contracted notably in the following year.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Romania ($X,400 per ton), while the average price for exports to Angola totaled $X per ton.

From 2021 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Romania (X.7%).

Flywheels And Pulleys Imports

Imports into Nigeria

In 2022, supplies from abroad of flywheels and pulleys decreased by X% to X tons for the first time since 2017, thus ending a four-year rising trend. In general, imports, however, recorded resilient growth. The growth pace was the most rapid in 2020 with an increase of X% against the previous year. Imports peaked at X tons in 2021, and then reduced in the following year.

In value terms, flywheels and pulleys imports soared to $X in 2022. Over the period under review, imports, however, saw a resilient increase. The most prominent rate of growth was recorded in 2020 with an increase of X%. Imports peaked in 2022 and are expected to retain growth in years to come.

Imports by Country

In 2022, China (X tons) constituted the largest supplier of flywheels and pulleys to Nigeria, with a X% share of total imports. Moreover, flywheels and pulleys imports from China exceeded the figures recorded by the second-largest supplier, India (X tons), more than tenfold.

From 2012 to 2022, the average annual rate of growth in terms of volume from China totaled 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, China ($X) constituted the largest supplier of flywheels and pulleys to Nigeria, comprising X% of total imports. The second position in the ranking was taken by India ($X), with a X% share of total imports.

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

Import Prices by Country

The average flywheels and pulleys import price stood at $X per ton in 2022, surging by X% against the previous year. Over the period under review, the import price, however, continues to indicate a noticeable setback. The most prominent rate of growth was recorded in 2014 when the average import price increased by X%. The import price peaked at $X per ton in 2016; however, from 2017 to 2022, import prices stood at a somewhat lower figure.

Average prices varied somewhat amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Germany ($X per ton), while the price for India ($X per ton) 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 a decline.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for flywheels and pulleys in the world?

The countries with the highest volumes of consumption in 2023 were China, the United States and India, with a combined 49% share of global consumption.

What are the largest producers of flywheels and pulleys in the world?

China constituted the country with the largest volume of flywheels and pulleys production, accounting for 32% of total volume. Moreover, flywheels and pulleys production in China exceeded the figures recorded by the second-largest producer, the United States, threefold. India ranked third in terms of total production with an 11% share.

What are the leading suppliers of flywheels and pulleys to Nigeria?

In value terms, China constituted the largest supplier of flywheels and pulleys to Nigeria, comprising 77% of total imports. The second position in the ranking was taken by India, with a 3.1% share of total imports.

What are the leading importers of flywheels and pulleys from Nigeria?

In value terms, the largest markets for flywheels and pulleys exported from Nigeria were Angola and Romania.

What is the average export price for flywheels and pulleys in Nigeria?

In 2022, the average flywheels and pulleys export price amounted to $1,213 per ton, reducing by -83.8% against the previous year.

What is the average import price for flywheels and pulleys in Nigeria?

The average flywheels and pulleys import price stood at $3,026 per ton in 2022, with an increase of 62% against the previous year.

This report provides an in-depth analysis of the flywheels and pulleys 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 2030.

Product coverage:

Prodcom 28152500 - Flywheels and pulleys (including pulley blocks)

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:

How to diversify your business and benefit from new market opportunities
How to load your idle production capacity
How to boost your sales on overseas markets
How to increase your profit margins
How to make your supply chain more sustainable
How to reduce your production and supply chain costs
How to outsource production to other countries
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. REPORT DESCRIPTION
2. RESEARCH METHODOLOGY AND AI PLATFORM
3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
4. GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance
1. KEY FINDINGS
2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects
1. MARKET SIZE
2. MARKET STRUCTURE
3. TRADE BALANCE
4. PER CAPITA CONSUMPTION
5. MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT

Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO
1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
2. BEST-SELLING PRODUCTS
3. MOST CONSUMED PRODUCT
4. MOST TRADED PRODUCT
5. MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO
1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
2. TOP PRODUCING COUNTRIES
3. TOP EXPORTING COUNTRIES
4. LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO
1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
2. TOP CONSUMING MARKETS
3. UNSATURATED MARKETS
4. TOP IMPORTING MARKETS
5. MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
1. IMPORTS FROM 2012–2023
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
1. EXPORTS FROM 2012–2023
2. EXPORTS BY COUNTRY
3. EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO
LIST OF TABLES
1. Key Findings In 2023
2. Market Volume, In Physical Terms, 2012–2023
3. Market Value, 2012–2023
4. Per Capita Consumption In 2012-2023
5. Imports, In Physical Terms, By Country, 2012–2023
6. Imports, In Value Terms, By Country, 2012–2023
7. Import Prices, By Country Of Origin, 2012–2023
8. Exports, In Physical Terms, By Country, 2012–2023
9. Exports, In Value Terms, By Country, 2012–2023
10. Export Prices, By Country Of Destination, 2012–2023
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2023
2. Market Value, 2012–2023
3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
5. Trade Balance, In Physical Terms, 2012-2023
6. Trade Balance, In Value Terms, 2012-2023
7. Per Capita Consumption, 2012-2023
8. Market Volume Forecast to 2030
9. Market Value Forecast to 2030
10. Products: Market Size And Growth, By Type
11. Products: Average Per Capita Consumption, By Type
12. Products: Exports And Growth, By Type
13. Products: Export Prices And Growth, By Type
14. Production Volume And Growth
15. Exports And Growth
16. Export Prices And Growth
17. Market Size And Growth
18. Per Capita Consumption
19. Imports And Growth
20. Import Prices
21. Production, In Physical Terms, 2012–2023
22. Production, In Value Terms, 2012–2023
23. Imports, In Physical Terms, 2012–2023
24. Imports, In Value Terms, 2012–2023
25. Imports, In Physical Terms, By Country, 2023
26. Imports, In Physical Terms, By Country, 2012–2023
27. Imports, In Value Terms, By Country, 2012–2023
28. Import Prices, By Country Of Origin, 2012–2023
29. Exports, In Physical Terms, 2012–2023
30. Exports, In Value Terms, 2012–2023
31. Exports, In Physical Terms, By Country, 2023
32. Exports, In Physical Terms, By Country, 2012–2023
33. Exports, In Value Terms, By Country, 2012–2023
34. Export Prices, By Country Of Destination, 2012–2023