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Nigeria - Tractors - Market Analysis, Forecast, Size, Trends and Insights
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View PricingTractor Price in Nigeria - 2022
Contents:
- Tractor Price in Nigeria (CIF) - 2022
- Tractor Price in Nigeria (FOB) - 2022
- Tractor Imports in Nigeria
- Tractor Exports in Nigeria
Tractor Price in Nigeria (CIF) - 2022
In 2022, the average tractor import price amounted to $35,252 per unit, jumping by 71% against the previous year. Over the period under review, the import price, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 when the average import price increased by 331% against the previous year. Over the period under review, average import prices hit record highs at $42,701 per unit in 2014; however, from 2015 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 Sweden ($231,080 per unit), while the price for Cyprus ($752 per unit) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Sweden (+17.2%), while the prices for the other major suppliers experienced a decline.
Tractor Price in Nigeria (FOB) - 2022
In 2022, the average tractor export price amounted to $26,259 per unit, with an increase of 9% against the previous year. In general, the export price posted a prominent expansion. The growth pace was the most rapid in 2016 when the average export price increased by 109% against the previous year. The export price peaked at $39,162 per unit in 2017; however, from 2018 to 2022, the export prices remained at a lower figure.
There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Senegal ($43,770 per unit), while the average price for exports to the United States ($1,314 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 Egypt (+35.7%), while the prices for the other major destinations experienced more modest paces of growth.
Tractor Imports in Nigeria
In 2022, after three years of growth, there was significant decline in overseas purchases of tractors, when their volume decreased by -9.4% to 6.3K units. Over the period under review, imports, however, posted a significant increase. The most prominent rate of growth was recorded in 2020 when imports increased by 162%. Over the period under review, imports attained the maximum at 7K units in 2021, and then declined in the following year.
In value terms, tractor imports soared to $224M in 2022. Overall, imports, however, posted significant growth. The most prominent rate of growth was recorded in 2020 when imports increased by 148% against the previous year. Imports peaked in 2022 and are expected to retain growth in the near future.
Import of Tractor in Nigeria (Million USD) | |||||
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COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
China | 12.1 | 39.7 | 64.2 | 112 | 110.0% |
Sweden | 8.5 | 23.7 | 17.7 | 46.4 | 76.1% |
Germany | 2.0 | 13.1 | 10.5 | 21.9 | 122.1% |
Brazil | 5.0 | 16.2 | 2.4 | 9.0 | 21.6% |
United States | 3.5 | 6.8 | 1.0 | 5.2 | 14.1% |
India | 9.3 | 11.1 | 3.5 | 3.6 | -27.1% |
Poland | 0.8 | 2.0 | 1.1 | 2.5 | 46.2% |
Pakistan | 4.0 | 2.6 | 2.8 | 1.3 | -31.2% |
United Kingdom | 1.7 | 8.6 | 2.4 | 1.0 | -16.2% |
Italy | 2.0 | 1.7 | 0.9 | 0.7 | -29.5% |
Cyprus | 0.1 | 0.1 | 0.1 | 0.1 | 0.0% |
Kuwait | N/A | 0.2 | N/A | N/A | 0% |
Others | 7.6 | 14.9 | 37.7 | 20.1 | 38.3% |
Total | 56.8 | 141 | 144 | 224 | 58.0% |
Top Suppliers of Tractor to Nigeria in 2022:
- China (2204.0 units)
- United States (1573.0 units)
- India (280.0 units)
- Germany (206.0 units)
- Sweden (201.0 units)
- Cyprus (156.0 units)
- Poland (113.0 units)
- Brazil (107.0 units)
- Pakistan (72.0 units)
- Italy (59.0 units)
- United Kingdom (48.0 units)
Tractor Exports in Nigeria
In 2022, approx. 17 units of tractors were exported from Nigeria; remaining relatively unchanged against the previous year. Overall, exports recorded a abrupt shrinkage. The growth pace was the most rapid in 2021 with an increase of 6.2% against the previous year. The exports peaked at 21 units in 2019; however, from 2020 to 2022, the exports stood at a somewhat lower figure.
In value terms, tractor exports expanded notably to $446K in 2022. In general, exports saw a abrupt shrinkage. The exports peaked at $665K in 2019; however, from 2020 to 2022, the exports stood at a somewhat lower figure.
Export of Tractor in Nigeria (Thousand USD) | |||||
---|---|---|---|---|---|
COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
Senegal | 492 | 340 | 333 | 350 | -10.7% |
Egypt | 16.1 | 27.7 | 29.0 | 49.5 | 45.4% |
Cameroon | 29.3 | 26.9 | 14.2 | 14.0 | -21.8% |
Benin | 12.9 | 7.2 | 10.9 | 11.4 | -4.0% |
Belgium | 31.7 | 24.8 | 11.1 | 9.4 | -33.3% |
United States | 13.2 | 6.4 | 6.5 | 6.6 | -20.6% |
Niger | 4.7 | 5.4 | 2.5 | 2.3 | -21.2% |
Ghana | 60.1 | N/A | N/A | N/A | 0% |
Others | 4.3 | 3.6 | 2.8 | 3.1 | -10.3% |
Total | 665 | 442 | 410 | 446 | -12.5% |
Top Export Markets for Tractor from Nigeria in 2022:
- Senegal (8.0 units)
- Egypt (7.0 units)
- United States (5.0 units)
- Niger (1.0 units)
- Cameroon (1.0 units)
- Benin (1.0 units)
This report provides an in-depth analysis of the tractor 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 28301000 - Pedestrian-controlled tractors
- Prodcom 28302100 - New agricultural and forestry tractors, wheeled, of an engine power . .37 kW
- Prodcom 28302200 - New agricultural and forestry tractors, wheeled, of an engine power > .37 kW but . .59 kW (excluding pedestrian-controlled tractors)
- Prodcom 28302330 - New agricultural and forestry tractors, wheeled, of an engine power > .59 kW but . .75 kW (excluding pedestrian-controlled tractors)
- Prodcom 28302350 - New agricultural and forestry tractors, wheeled, of an engine power > .75 kW but . .90 kW (excluding pedestrian-controlled tractors)
- Prodcom 28302370 - New agricultural and forestry tractors, wheeled, of an engine power > .90 kW (excluding pedestrian-controlled tractors)
- Prodcom 28302390 - New tractors excluding agricultural/forestry tractors, wheeled, p edestrian-controlled tractors - road tractors for semi-trailers, t rack-laying tractors -tractors used on railway platforms
- Prodcom 28925000 - (Crawler tractors) Track-laying tractors
- Prodcom 29104300 - Road tractors for semi-trailers
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
-
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
This report provides an in-depth analysis of the tractor market in Nigeria.
This report provides an in-depth analysis of the market for road tractor for semi-trailer in Nigeria.
This report provides an in-depth analysis of the crawler tractor market in Nigeria.
This report provides an in-depth analysis of the pedestrian-controlled tractor market in Nigeria.
This report provides an in-depth analysis of the market for agricultural and forestry tractor in Nigeria.
This report provides an in-depth analysis of the global tractor market.
This report provides an in-depth analysis of the global market for road tractor for semi-trailer.
This report provides an in-depth analysis of the global crawler tractor market.
This report provides an in-depth analysis of the global pedestrian-controlled tractor market.
This report provides an in-depth analysis of the global market for agricultural and forestry tractor.
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In 2016, approx. X tons of tractor were imported worldwide- shrinking by -X% against the previous year figure. Overall, tractor imports continue to indicate a relatively flat trend pattern. The...
In 2016, approx. X tons of tractor were imported worldwide- shrinking by -X% against the previous year figure. Overall, tractor imports continue to indicate a relatively flat trend pattern. The...
Mexico claimed dominance in the global road tractors for semi-trailers trade. In 2014, Mexico exported X thousand units of road tractors for semi-trailers totaling X billion USD, X% over the previous year. Its primary trading partner was the U.
Learn about the forecasted growth of the worldwide crawler tractor market from 2023 to 2030, with projected increases in both volume and value terms.