Price for Turbines; Hydraulic Water Wheels and Regulators Therefor in Nigeria - 2023
Contents:
- Price for Turbines; Hydraulic Water Wheels and Regulators Therefor in Nigeria (CIF) - 2022
- Imports of Turbines; Hydraulic Water Wheels and Regulators Therefor in Nigeria
Price for Turbines; Hydraulic Water Wheels and Regulators Therefor in Nigeria (CIF) - 2022
The average import price for turbines; hydraulic water wheels and regulators therefor stood at $21 thousand per unit in 2022, rising by 24% against the previous year. Over the period under review, the import price showed buoyant growth. The most prominent rate of growth was recorded in 2013 when the average import price increased by 522% against the previous year. Over the period under review, average import prices reached the maximum at $71 thousand per unit in 2016; however, from 2017 to 2022, import prices stood at a somewhat lower figure.
There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was India ($64 thousand per unit), while the price for Belgium ($5.5 thousand per unit) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by India (+8.3%), while the prices for the other major suppliers experienced mixed trend patterns.
Imports of Turbines; Hydraulic Water Wheels and Regulators Therefor in Nigeria
For the third year in a row, Nigeria recorded decline in purchases abroad of turbines; hydraulic water wheels and regulators therefor, which decreased by -58.2% to 182 units in 2022. Overall, imports faced a significant decrease. The smallest decline of -5.7% was in 2020. Over the period under review, imports of hit record highs at 2K units in 2019; however, from 2020 to 2022, imports remained at a lower figure.
In value terms, imports of turbines; hydraulic water wheels and regulators therefor contracted remarkably to $3.8M in 2022. Over the period under review, imports continue to indicate a precipitous decrease. The smallest decline of -13.9% was in 2020. Over the period under review, imports of attained the maximum at $44M in 2019; however, from 2020 to 2022, imports stood at a somewhat lower figure.
| Import of Turbines; Hydraulic Water Wheels and Regulators Therefor in Nigeria (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| China | 39.2 | 33.5 | 6.6 | 1.8 | -64.2% |
| India | 0.3 | N/A | 0.1 | 1.2 | 58.7% |
| United States | N/A | 0.2 | 0.2 | N/A | 0.0% |
| Others | 4.4 | 4.2 | 0.5 | 0.8 | -43.3% |
| Total | 44.0 | 37.9 | 7.3 | 3.8 | -55.8% |
Top Suppliers of Turbines; Hydraulic Water Wheels and Regulators Therefor to Nigeria in 2022:
- China (138.0 units)
- India (18.0 units)
- United States (3.0 units)
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