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Nigeria - Mechanical Shovels, Excavators and Shovel Loaders - Market Analysis, Forecast, Size, Trends and Insights
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View PricingNigeria: Market for Mechanical Shovels, Excavators And Shovel Loaders 2024
Market Size for Mechanical Shovels, Excavators And Shovel Loaders in Nigeria
In 2023, the Nigerien mechanical shovel and excavator market was finally on the rise to reach $X for the first time since 2020, thus ending a two-year declining trend. Over the period under review, consumption, however, recorded a perceptible shrinkage. Over the period under review, the market reached the maximum level at $X in 2012; however, from 2013 to 2023, consumption remained at a lower figure.
Exports of Mechanical Shovels, Excavators And Shovel Loaders
Exports from Nigeria
In 2023, approx. X units of mechanical shovels, excavators and shovel loaders were exported from Nigeria; jumping by X% against 2022 figures. Overall, exports posted a prominent expansion. As a result, the exports reached the peak and are likely to continue growth in the immediate term.
In value terms, mechanical shovel and excavator exports soared to $X in 2023. In general, exports showed a strong expansion. As a result, the exports reached the peak and are likely to continue growth in the immediate term.
Exports by Country
Indonesia (X units) was the main destination for mechanical shovel and excavator exports from Nigeria, accounting for a X% share of total exports. Moreover, mechanical shovel and excavator exports to Indonesia exceeded the volume sent to the second major destination, Benin (X units), threefold. The Netherlands (X units) ranked third in terms of total exports with a X% share.
From 2012 to 2023, the average annual growth rate of volume to Indonesia was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Benin (X% per year) and the Netherlands (X% per year).
In value terms, Indonesia ($X) emerged as the key foreign market for mechanical shovels, excavators and shovel loaders exports from Nigeria, comprising X% of total exports. The second position in the ranking was held by the Netherlands ($X), with a X% share of total exports. It was followed by Benin, with a X% share.
From 2012 to 2023, the average annual growth rate of value to Indonesia was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: the Netherlands (X% per year) and Benin (X% per year).
Export Prices by Country
The average mechanical shovel and excavator export price stood at $X per unit in 2023, growing by X% against the previous year. Over the period under review, the export price showed a modest expansion. The pace of growth was the most pronounced in 2016 an increase of X%. Over the period under review, the average export prices reached the maximum at $X per unit in 2018; however, from 2019 to 2023, the export prices remained at a lower figure.
Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the Netherlands ($X per unit), while the average price for exports to South Africa ($X per unit) was amongst the lowest.
From 2012 to 2023, the most notable rate of growth in terms of prices was recorded for supplies to Benin (X%), while the prices for the other major destinations experienced more modest paces of growth.
Imports of Mechanical Shovels, Excavators And Shovel Loaders
Imports into Nigeria
In 2023, overseas purchases of mechanical shovels, excavators and shovel loaders increased by X% to X units for the first time since 2020, thus ending a two-year declining trend. In general, imports, however, recorded a noticeable contraction. The pace of growth was the most pronounced in 2018 when imports increased by X% against the previous year. Over the period under review, imports reached the maximum at X units in 2012; however, from 2013 to 2023, imports remained at a lower figure.
In value terms, mechanical shovel and excavator imports stood at $X in 2023. Overall, imports, however, saw a mild contraction. The growth pace was the most rapid in 2018 with an increase of X%. Over the period under review, imports reached the maximum at $X in 2020; however, from 2021 to 2023, imports failed to regain momentum.
Imports by Country
In 2023, China (X units) constituted the largest supplier of mechanical shovel and excavator to Nigeria, accounting for a X% share of total imports. Moreover, mechanical shovel and excavator imports from China exceeded the figures recorded by the second-largest supplier, France (X units), more than tenfold. India (X units) ranked third in terms of total imports with a X% share.
From 2012 to 2023, the average annual rate of growth in terms of volume from China totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: France (X% per year) and India (X% per year).
In value terms, China ($X) constituted the largest supplier of mechanical shovels, excavators and shovel loaders to Nigeria, comprising X% of total imports. The second position in the ranking was held by India ($X), with a X% share of total imports. It was followed by France, with a X% share.
From 2012 to 2023, the average annual rate of growth in terms of value from China amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: India (X% per year) and France (X% per year).
Import Prices by Country
The average mechanical shovel and excavator import price stood at $X per unit in 2023, remaining constant against the previous year. Over the period under review, import price indicated a tangible increase from 2012 to 2023: its price increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, mechanical shovel and excavator import price increased by X% against 2020 indices. The most prominent rate of growth was recorded in 2013 an increase of X%. The import price peaked at $X per unit in 2014; however, from 2015 to 2023, import prices failed to regain momentum.
There were significant differences in the average prices amongst the major supplying countries. In 2023, amid the top importers, the country with the highest price was India ($X per unit), while the price for the United States ($X per unit) was amongst the lowest.
From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Sweden (X%), while the prices for the other major suppliers experienced a decline.
Source: IndexBox Platform
This report provides an in-depth analysis of the market for mechanical shovel and excavator 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 28922530 - Loaders specially designed for underground use
- Prodcom 28922550 - Wheeled loaders, crawler shovel loaders, front-end loaders
- Prodcom 28922600 - Self-propelled bulldozers... with a .360
- Prodcom 28922730 - Self-propelled bulldozers, excavators..., n.e.c.
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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