Nigeria: Lamp Holder Market 2024

Lamp Holder Market Size in Nigeria

The Nigerien lamp holder market stood at $X in 2022, remaining relatively unchanged against the previous year. Overall, consumption continues to indicate buoyant growth. Lamp holder consumption peaked at $X in 2020; afterwards, it flattened through to 2022.

Lamp Holder Production in Nigeria

In value terms, lamp holder production amounted to $X in 2022 estimated in export price. Overall, production saw a resilient expansion. The pace of growth appeared the most rapid in 2014 with an increase of 158% against the previous year. Lamp holder production peaked at $X in 2020; however, from 2021 to 2022, production remained at a lower figure.

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Lamp Holder Exports

Exports from Nigeria

In 2022, overseas shipments of lamp holders, plugs and sockets decreased by -4.4% to X tons for the first time since 2018, thus ending a three-year rising trend. In general, exports, however, enjoyed a resilient expansion. The growth pace was the most rapid in 2016 when exports increased by 184% against the previous year. As a result, the exports reached the peak of X tons. From 2017 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, lamp holder exports contracted to $X in 2022. Over the period under review, exports, however, continue to indicate a measured expansion. The pace of growth was the most pronounced in 2014 with an increase of 599% against the previous year. The exports peaked at $X in 2016; however, from 2017 to 2022, the exports failed to regain momentum.

Exports by Country

Benin (X tons) was the main destination for lamp holder exports from Nigeria, accounting for a 1.3% share of total exports. Moreover, lamp holder exports to Benin exceeded the volume sent to the second major destination, Congo (X kg), sevenfold. The third position in this ranking was taken by Gambia (X kg), with a 0.2% share.

From 2012 to 2021, the average annual growth rate of volume to Benin stood at +52.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Congo (+88.3% per year) and Gambia (-21.0% per year).

In value terms, the Netherlands ($X) emerged as the key foreign market for lamp holders, plugs and sockets exports from Nigeria, comprising 83% of total exports. The second position in the ranking was taken by Benin ($X), with a 17% share of total exports. It was followed by Congo, with a 6.8% share.

From 2012 to 2021, the average annual growth rate of value to the Netherlands amounted to -8.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Benin (+19.7% per year) and Congo (+21.1% per year).

Export Prices by Country

In 2021, the average lamp holder export price amounted to $X per ton, which is down by -5.5% against the previous year. Overall, the export price showed a abrupt shrinkage. The most prominent rate of growth was recorded in 2014 an increase of 392%. As a result, the export price attained the peak level of $X per ton. From 2015 to 2021, the average export prices failed to regain momentum.

There were significant differences in the average prices for the major export markets. In 2021, amid the top suppliers, the country with the highest price was the Netherlands ($X per ton), while the average price for exports to Benin ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Gambia (+5.9%), while the prices for the other major destinations experienced mixed trend patterns.

Lamp Holder Imports

Imports into Nigeria

After two years of growth, supplies from abroad of lamp holders, plugs and sockets decreased by -21.3% to X tons in 2022. In general, imports faced a abrupt descent. The most prominent rate of growth was recorded in 2018 when imports increased by 525% against the previous year. Over the period under review, imports attained the maximum at X tons in 2013; however, from 2014 to 2022, imports failed to regain momentum.

In value terms, lamp holder imports expanded markedly to $X in 2022. Over the period under review, imports recorded a abrupt slump. The most prominent rate of growth was recorded in 2020 when imports increased by 98% against the previous year. Imports peaked at $X in 2014; however, from 2015 to 2022, imports failed to regain momentum.

Imports by Country

In 2021, China (X tons) constituted the largest lamp holder supplier to Nigeria, accounting for a 0.8% share of total imports. Moreover, lamp holder imports from China exceeded the figures recorded by the second-largest supplier, Vietnam (X tons), more than tenfold.

From 2012 to 2021, the average annual rate of growth in terms of volume from China stood at -22.9%.

In value terms, China ($X) constituted the largest supplier of lamp holders, plugs and sockets to Nigeria, comprising 54% of total imports. The second position in the ranking was taken by Vietnam ($X), with a 6.9% share of total imports.

From 2012 to 2021, the average annual growth rate of value from China stood at -25.0%.

Import Prices by Country

In 2021, the average lamp holder import price amounted to $X per ton, dropping by -63.9% against the previous year. Overall, the import price, however, showed resilient growth. The most prominent rate of growth was recorded in 2014 when the average import price increased by 4,345% against the previous year. The import price peaked at $X per ton in 2015; however, from 2016 to 2021, import prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Vietnam ($X per ton), while the price for China stood at $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (-2.7%).

Source: IndexBox Platform

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