Nigeria - Way-Type Unit Heads for Working Metal - Market Analysis, Forecast, Size, Trends and Insights
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View PricingNigeria: Way-Type Unit Head Market 2024
Way-Type Unit Head Market Size in Nigeria
In 2021, after five years of growth, there was significant decline in the Nigerien way-type unit head market, when its value decreased by -36.9% to $X. Overall, consumption, however, recorded a significant increase. As a result, consumption attained the peak level of $X, and then shrank significantly in the following year.
Way-Type Unit Head Production in Nigeria
In value terms, way-type unit head production reduced notably to $X in 2021 estimated in export price. In general, production, however, continues to indicate a significant expansion. The most prominent rate of growth was recorded in 2020 with an increase of 281%. As a result, production reached the peak level of $X, and then shrank significantly in the following year.
Way-Type Unit Head Exports
Exports from Nigeria
For the fifth consecutive year, Nigeria recorded decline in shipments abroad of way-type unit heads for working metal, which decreased by -7.2% to X kg in 2021. In general, exports recorded a precipitous slump. The most prominent rate of growth was recorded in 2013 when exports increased by 22% against the previous year. As a result, the exports attained the peak of X tons. From 2014 to 2021, the growth of the exports failed to regain momentum.
In value terms, way-type unit head exports shrank sharply to $X in 2021. Overall, exports showed a precipitous descent. The exports peaked at $X in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.
Exports by Country
Benin (X kg) was the main destination for way-type unit head exports from Nigeria, with a approx. 100% share of total exports.
From 2012 to 2021, the average annual growth rate of volume to Benin stood at +7.3%.
In value terms, Benin ($X) also remains the key foreign market for way-type unit heads for working metal exports from Nigeria.
From 2012 to 2021, the average annual growth rate of value to Benin stood at -10.7%.
Export Prices by Country
The average way-type unit head export price stood at $X per ton in 2021, which is down by -13.6% against the previous year. Overall, the export price saw a dramatic decrease. The growth pace was the most rapid in 2014 an increase of 2.2%. The export price peaked at $X per ton in 2012; however, from 2013 to 2021, the export prices failed to regain momentum.
As there is only one major export destination, the average price level is determined by prices for Benin.
From 2012 to 2021, the rate of growth in terms of prices for Benin amounted to -16.8% per year.
Way-Type Unit Head Imports
Imports into Nigeria
In 2021, overseas purchases of way-type unit heads for working metal decreased by -79.1% to X tons for the first time since 2018, thus ending a two-year rising trend. In general, imports showed a abrupt setback. The pace of growth appeared the most rapid in 2015 with an increase of 3,358%. As a result, imports attained the peak of X tons. From 2016 to 2021, the growth of imports failed to regain momentum.
In value terms, way-type unit head imports fell markedly to $X in 2021. Over the period under review, imports saw a deep slump. The pace of growth was the most pronounced in 2015 when imports increased by 3,569% against the previous year. As a result, imports attained the peak of $X. From 2016 to 2021, the growth of imports remained at a lower figure.
Imports by Country
The United States (X kg), China (X kg) and Germany (X kg) were the main suppliers of way-type unit head imports to Nigeria, with a combined 80% share of total imports.
From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by China (with a CAGR of -1.1%), while imports for the other leaders experienced a decline.
In value terms, Italy ($X) constituted the largest supplier of way-type unit heads for working metal to Nigeria, comprising 66% of total imports. The second position in the ranking was held by the United States ($X), with a 20% share of total imports. It was followed by China, with a 4.1% share.
From 2012 to 2021, the average annual growth rate of value from Italy stood at +2.5%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (-0.8% per year) and China (-4.7% per year).
Import Prices by Country
In 2021, the average way-type unit head import price amounted to $X per ton, rising by 15% against the previous year. Over the period under review, the import price showed a moderate increase. The most prominent rate of growth was recorded in 2020 an increase of 247% against the previous year. Over the period under review, average import prices reached the maximum in 2021 and is expected to retain growth in the immediate term.
There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was Italy ($X per ton), while the price for China ($X per ton) was amongst the lowest.
From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Italy (+31.1%), while the prices for the other major suppliers experienced more modest paces of growth.
Source: IndexBox Platform
Frequently Asked Questions (FAQ) :
This report provides an in-depth analysis of the way-type unit head 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 28412233 - Way-type unit heads for working metal by drilling, boring, m illing, threading or tapping
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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