Price for Engines; Pneumatic Power Engines and Motors, Other than Linear Acting (Cylinders) in Nigeria - 2022
Contents:
- Price for Engines; Pneumatic Power Engines and Motors, Other than Linear Acting (Cylinders) in Nigeria (CIF) - 2022
- Imports of Engines; Pneumatic Power Engines and Motors, Other than Linear Acting (Cylinders) in Nigeria
Price for Engines; Pneumatic Power Engines and Motors, Other than Linear Acting (Cylinders) in Nigeria (CIF) - 2022
In 2022, the average import price for engines; pneumatic power engines and motors, other than linear acting (cylinders)s amounted to $790 per unit, surging by 34% against the previous year. Overall, the import price, however, recorded a noticeable slump. The most prominent rate of growth was recorded in 2019 an increase of 84%. Over the period under review, average import prices attained the peak figure at $1.5 thousand per unit in 2017; however, from 2018 to 2022, import prices remained at a lower figure.
Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Belgium ($1.5 thousand per unit), while the price for China ($239 per unit) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Finland (+35.8%), while the prices for the other major suppliers experienced more modest paces of growth.
Imports of Engines; Pneumatic Power Engines and Motors, Other than Linear Acting (Cylinders) in Nigeria
In 2022, overseas purchases of engines; pneumatic power engines and motors, other than linear acting (cylinders)s decreased by -46.4% to 1.5K units, falling for the second year in a row after two years of growth. Over the period under review, imports, however, posted a buoyant increase. The most prominent rate of growth was recorded in 2020 when imports increased by 1,271%. As a result, imports attained the peak of 15K units. From 2021 to 2022, the growth of imports of failed to regain momentum.
In value terms, imports of engines; pneumatic power engines and motors, other than linear acting (cylinders)s dropped notably to $1.2M in 2022. In general, imports saw a mild curtailment. The pace of growth appeared the most rapid in 2020 when imports increased by 806% against the previous year. As a result, imports reached the peak of $11M. From 2021 to 2022, the growth of imports of failed to regain momentum.
| Import of Engines; Pneumatic Power Engines and Motors, Other than Linear Acting (Cylinders) in Nigeria (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Finland | 19.4 | 9,230 | 1.6 | 806 | 246.3% |
| France | 0.7 | 158 | 94.2 | 116 | 449.3% |
| United States | 114 | 638 | 84.7 | 54.0 | -22.0% |
| China | 173 | 108 | 427 | 30.9 | -43.7% |
| Others | 890 | 707 | 1,012 | 155 | -44.2% |
| Total | 1,197 | 10,841 | 1,619 | 1,162 | -1.0% |
Top Suppliers of Engines; Pneumatic Power Engines and Motors, Other than Linear Acting (Cylinders) to Nigeria in 2022:
- Finland (1023.0 units)
- France (148.0 units)
- China (129.0 units)
- United States (53.0 units)
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