Nigeria - Motor Vehicles Compression-Ignition Internal Combustion Piston Engines - Market Analysis, Forecast, Size, Trends and Insights
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View PricingNigeria: Internal Combustion Engines Market 2024
Internal Combustion Engines Market Size in Nigeria
In 2022, the Nigerien internal combustion engines market decreased by X% to $X, falling for the second consecutive year after three years of growth. In general, consumption continues to indicate a abrupt setback. Over the period under review, the market reached the peak level at $X in 2014; however, from 2015 to 2022, consumption failed to regain momentum.
Internal Combustion Engines Exports
Exports from Nigeria
In 2022, exports of motor vehicles compression-ignition internal combustion piston engines from Nigeria soared to X units, with an increase of X% compared with the previous year. Over the period under review, exports showed a significant expansion. The growth pace was the most rapid in 2018 when exports increased by X%. The exports peaked in 2022 and are likely to see steady growth in the immediate term.
In value terms, internal combustion engines exports expanded sharply to $X in 2022. Overall, exports recorded a prominent expansion. The growth pace was the most rapid in 2017 when exports increased by X% against the previous year. Over the period under review, the exports hit record highs in 2022 and are likely to see steady growth in years to come.
Exports by Country
Democratic Republic of the Congo (X units) was the main destination for internal combustion engines exports from Nigeria, accounting for a X% share of total exports. Moreover, internal combustion engines exports to Democratic Republic of the Congo exceeded the volume sent to the second major destination, Angola (X units), fourfold.
From 2012 to 2022, the average annual rate of growth in terms of volume to Democratic Republic of the Congo stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Angola (X% per year) and Benin (X% per year).
In value terms, Angola ($X) remains the key foreign market for motor vehicles compression-ignition internal combustion piston engines exports from Nigeria, comprising X% of total exports. The second position in the ranking was held by Democratic Republic of the Congo ($X), with a X% share of total exports.
From 2012 to 2022, the average annual rate of growth in terms of value to Angola totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Democratic Republic of the Congo (X% per year) and Benin (X% per year).
Export Prices by Country
The average internal combustion engines export price stood at $X per unit in 2022, shrinking by X% against the previous year. In general, the export price saw a deep reduction. The growth pace was the most rapid in 2017 an increase of X% against the previous year. The export price peaked at $X per unit in 2012; however, from 2013 to 2022, the export prices remained at a lower figure.
There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Benin ($X per unit), while the average price for exports to Democratic Republic of the Congo ($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 Sudan (X%), while the prices for the other major destinations experienced a decline.
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Internal Combustion Engines Imports
Imports into Nigeria
In 2022, supplies from abroad of motor vehicles compression-ignition internal combustion piston engines decreased by X% to X units, falling for the second year in a row after three years of growth. Overall, imports continue to indicate a abrupt decline. The pace of growth was the most pronounced in 2019 with an increase of X%. Imports peaked at X units in 2020; however, from 2021 to 2022, imports remained at a lower figure.
In value terms, internal combustion engines imports expanded slightly to $X in 2022. Over the period under review, imports faced a abrupt shrinkage. The most prominent rate of growth was recorded in 2014 when imports increased by X% against the previous year. As a result, imports attained the peak of $X. From 2015 to 2022, the growth of imports failed to regain momentum.
Imports by Country
Germany (X units), the United States (X units) and Poland (X units) were the main suppliers of internal combustion engines imports to Nigeria, with a combined X% share of total imports. China, Sweden, Serbia, Italy, France and the UK lagged somewhat behind, together comprising a further X%.
From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Sweden (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.
In value terms, the largest internal combustion engines suppliers to Nigeria were Germany ($X), the United States ($X) and China ($X), together accounting for X% of total imports. France, Sweden, Italy, Poland, the UK and Serbia lagged somewhat behind, together comprising a further X%.
Sweden, with a CAGR of X%, recorded the highest growth rate of the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.
Import Prices by Country
In 2022, the average internal combustion engines import price amounted to $X per unit, rising by X% against the previous year. In general, the import price, however, saw a abrupt descent. The growth pace was the most rapid in 2014 an increase of X% against the previous year. As a result, import price attained the peak level of $X per unit. From 2015 to 2022, the average import prices failed to regain momentum.
Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Germany ($X per unit), while the price for Poland ($X per unit) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Serbia (X%), while the prices for the other major suppliers experienced a decline.
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Frequently Asked Questions (FAQ) :
This report provides an in-depth analysis of the internal combustion engines 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 29101300 - Vehicle compression-ignition internal combustion piston engines (diesel or semi-diesel) (excluding for railway or tramway rolling stock)
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.
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1. INTRODUCTION
Making Data-Driven Decisions to Grow Your Business
- REPORT DESCRIPTION
- RESEARCH METHODOLOGY AND AI PLATFORM
- DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
- GLOSSARY AND SPECIFIC TERMS
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2. EXECUTIVE SUMMARY
A Quick Overview of Market Performance
- KEY FINDINGS
- MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
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3. MARKET OVERVIEW
Understanding the Current State of The Market and Its Prospects
- MARKET SIZE
- MARKET STRUCTURE
- TRADE BALANCE
- PER CAPITA CONSUMPTION
- MARKET FORECAST TO 2030
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4. MOST PROMISING PRODUCT
Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO- TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
- BEST-SELLING PRODUCTS
- MOST CONSUMED PRODUCT
- MOST TRADED PRODUCT
- MOST PROFITABLE PRODUCT FOR EXPORT
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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- TOP COUNTRIES TO SOURCE YOUR PRODUCT
- TOP PRODUCING COUNTRIES
- TOP EXPORTING COUNTRIES
- LOW-COST EXPORTING COUNTRIES
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6. MOST PROMISING OVERSEAS MARKETS
Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO- TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
- TOP CONSUMING MARKETS
- UNSATURATED MARKETS
- TOP IMPORTING MARKETS
- MOST PROFITABLE MARKETS
7. PRODUCTION
The Latest Trends and Insights into The Industry
- PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
- IMPORTS FROM 2012–2023
- IMPORTS BY COUNTRY
- IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
- EXPORTS FROM 2012–2023
- EXPORTS BY COUNTRY
- EXPORT PRICES BY COUNTRY
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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
- Key Findings In 2023
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Per Capita Consumption In 2012-2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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LIST OF FIGURES
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
- Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
- Trade Balance, In Physical Terms, 2012-2023
- Trade Balance, In Value Terms, 2012-2023
- Per Capita Consumption, 2012-2023
- Market Volume Forecast to 2030
- Market Value Forecast to 2030
- Products: Market Size And Growth, By Type
- Products: Average Per Capita Consumption, By Type
- Products: Exports And Growth, By Type
- Products: Export Prices And Growth, By Type
- Production Volume And Growth
- Exports And Growth
- Export Prices And Growth
- Market Size And Growth
- Per Capita Consumption
- Imports And Growth
- Import Prices
- Production, In Physical Terms, 2012–2023
- Production, In Value Terms, 2012–2023
- Imports, In Physical Terms, 2012–2023
- Imports, In Value Terms, 2012–2023
- Imports, In Physical Terms, By Country, 2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, 2012–2023
- Exports, In Value Terms, 2012–2023
- Exports, In Physical Terms, By Country, 2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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