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Nigeria - Gearboxes and Speed Changers for Machinery and Land or Sea Vehicles excluding Gears and Gearing - Market Analysis, Forecast, Size, Trends and Insights
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View PricingNigeria: Market for Gearboxes and Speed Changers 2024
Market Size for Gearboxes and Speed Changers in Nigeria
The Nigerien gearboxes and speed changers market expanded slightly to $X in 2022, rising by X% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Over the period under review, consumption recorded temperate growth. Gearboxes and speed changers consumption peaked in 2022 and is expected to retain growth in years to come.
Exports of Gearboxes and Speed Changers
Exports from Nigeria
Gearboxes and speed changers exports from Nigeria contracted sharply to X tons in 2015, dropping by X% compared with 2014 figures. Overall, exports continue to indicate a deep downturn. The most prominent rate of growth was recorded in 2014 with an increase of X%. As a result, the exports attained the peak of X tons, and then declined notably in the following year.
In value terms, gearboxes and speed changers exports declined dramatically to $X in 2015. Over the period under review, exports showed a sharp setback. The growth pace was the most rapid in 2014 when exports increased by X%. As a result, the exports reached the peak of $X, and then fell rapidly in the following year.
Exports by Country
The UK (X tons) was the main destination for gearboxes and speed changers exports from Nigeria, accounting for a X% share of total exports. Moreover, gearboxes and speed changers exports to the UK exceeded the volume sent to the second major destination, the United States (X tons), twofold. The third position in this ranking was held by Taiwan (Chinese) (X tons), with a X% share.
From 2012 to 2015, the average annual rate of growth in terms of volume to the UK stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (X% per year) and Taiwan (Chinese) (X% per year).
In value terms, the UK ($X) remains the key foreign market for gearboxes and speed changers exports from Nigeria, comprising X% of total exports. The second position in the ranking was held by the United States ($X), with a X% share of total exports. It was followed by Taiwan (Chinese), with a X% share.
From 2012 to 2015, the average annual rate of growth in terms of value to the UK amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (X% per year) and Taiwan (Chinese) (X% per year).
Export Prices by Country
The average gearboxes and speed changers export price stood at $X per ton in 2015, dropping by X% against the previous year. Overall, the export price showed a abrupt decline. The pace of growth appeared the most rapid in 2014 an increase of X%. The export price peaked at $X per ton in 2012; however, from 2013 to 2015, the export prices remained at a lower figure.
Average prices varied noticeably for the major export markets. In 2015, amid the top suppliers, the countries with the highest prices were Taiwan (Chinese) ($X per ton) and Belgium ($X per ton), while the average price for exports to France ($X per ton) and the United States ($X per ton) were amongst the lowest.
From 2012 to 2015, the most notable rate of growth in terms of prices was recorded for supplies to the United States (X%), while the prices for the other major destinations experienced a decline.
Imports of Gearboxes and Speed Changers
Imports into Nigeria
Gearboxes and speed changers imports into Nigeria expanded notably to X tons in 2022, picking up by X% compared with the previous year's figure. Over the period under review, imports posted a strong increase. The most prominent rate of growth was recorded in 2018 when imports increased by X% against the previous year. Over the period under review, imports hit record highs in 2022 and are likely to see steady growth in the near future.
In value terms, gearboxes and speed changers imports rose to $X in 2022. In general, imports continue to indicate a tangible expansion. The growth pace was the most rapid in 2018 with an increase of X%. Over the period under review, imports reached the peak figure in 2022 and are expected to retain growth in the near future.
Imports by Country
In 2022, China (X tons) constituted the largest gearboxes and speed changers supplier to Nigeria, with a X% share of total imports. Moreover, gearboxes and speed changers imports from China exceeded the figures recorded by the second-largest supplier, India (X tons), fourfold. The third position in this ranking was taken by Germany (X tons), with a X% share.
From 2012 to 2022, the average annual growth rate of volume from China amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: India (X% per year) and Germany (X% per year).
In value terms, China ($X) constituted the largest supplier of gearboxes and speed changers to Nigeria, comprising X% of total imports. The second position in the ranking was taken by India ($X), with a X% share of total imports. It was followed by Germany, with a X% share.
From 2012 to 2022, the average annual rate of growth in terms of value from China stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: India (X% per year) and Germany (X% per year).
Import Prices by Country
In 2022, the average gearboxes and speed changers import price amounted to $X per ton, which is down by X% against the previous year. Overall, the import price saw a deep downturn. The growth pace was the most rapid in 2014 an increase of X%. The import price peaked at $X per ton in 2016; however, from 2017 to 2022, import prices failed to regain momentum.
There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was the United States ($X per ton), while the price for China ($X per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (X%), while the prices for the other major suppliers experienced a decline.
Source: IndexBox Platform
Frequently Asked Questions (FAQ) :
This report provides an in-depth analysis of the market for gearboxes and speed changers 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 28152432 - Gear boxes for stationary equipment, spur and helical gear boxes
- Prodcom 28152433 - Gear boxes ..., bevel and bevel/spur and helical gear boxes
- Prodcom 28152434 - Gear boxes ..., worm gear boxes
- Prodcom 28152440 - Other gear boxes
- Prodcom 28152450 - Gearboxes and other speed changers for machinery and land/sea vehicles excluding gears and gearing
- Prodcom 28152473 - Ball or roller screws
- Prodcom 28152475 - Other transmission elements (excluding gears and gearing, b all or roller screws, gearboxes and other speed changers)
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
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