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Nigeria - Percussion Musical Instruments - Market Analysis, Forecast, Size, Trends and Insights
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Percussion Musical Instrument Market Size in Nigeria
In 2022, the Nigerien percussion musical instrument market decreased by X% to $X, falling for the third year in a row after two years of growth. Overall, consumption recorded a precipitous slump. As a result, consumption attained the peak level of $X. From 2015 to 2022, the growth of the market failed to regain momentum.
Percussion Musical Instrument Exports
Exports from Nigeria
In 2022, approx. X units of percussion musical instruments were exported from Nigeria; picking up by X% against 2021 figures. Over the period under review, exports recorded a strong increase. The exports peaked at X units in 2019; however, from 2020 to 2022, the exports failed to regain momentum.
In value terms, percussion musical instrument exports surged to $X in 2022. Overall, exports saw a slight increase. The exports peaked at $X in 2015; however, from 2016 to 2022, the exports failed to regain momentum.
Exports by Country
The United States (X units) was the main destination for percussion musical instrument exports from Nigeria, with a X% share of total exports. Moreover, percussion musical instrument exports to the United States exceeded the volume sent to the second major destination, Angola (X units), twofold. France (X units) ranked third in terms of total exports with a X% share.
From 2012 to 2022, the average annual growth rate of volume to the United States amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Angola (X% per year) and France (X.0% per year).
In value terms, the largest markets for percussion musical instrument exported from Nigeria were Angola ($X), the United States ($X) and France ($X), together accounting for X% of total exports.
In terms of the main countries of destination, France, with a CAGR of X.8%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.
Export Prices by Country
In 2022, the average percussion musical instrument export price amounted to $X per unit, declining by X% against the previous year. Overall, the export price recorded a deep setback. The pace of growth was the most pronounced in 2020 when the average export price increased by X% against the previous year. Over the period under review, the average export prices hit record highs at $X per unit in 2013; however, from 2014 to 2022, the export prices remained at a lower figure.
There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Benin ($X per unit), while the average price for exports to Canada ($X 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 the United States (X%), while the prices for the other major destinations experienced more modest paces of growth.
Percussion Musical Instrument Imports
Imports into Nigeria
In 2022, purchases abroad of percussion musical instruments decreased by X% to X units, falling for the third year in a row after two years of growth. Overall, imports showed a dramatic decrease. The most prominent rate of growth was recorded in 2014 when imports increased by X% against the previous year. As a result, imports reached the peak of X units. From 2015 to 2022, the growth of imports remained at a somewhat lower figure.
In value terms, percussion musical instrument imports declined rapidly to $X in 2022. Over the period under review, imports continue to indicate a drastic downturn. The most prominent rate of growth was recorded in 2014 with an increase of X% against the previous year. As a result, imports reached the peak of $X. From 2015 to 2022, the growth of imports remained at a somewhat lower figure.
Imports by Country
In 2022, China (X units) was the main percussion musical instrument supplier to Nigeria, with a X% share of total imports. It was followed by Switzerland (X units), with a X% share of total imports.
From 2012 to 2022, the average annual growth rate of volume from China totaled X%.
In value terms, China ($X) constituted the largest supplier of percussion musical instruments to Nigeria, comprising X% of total imports. The second position in the ranking was held by Switzerland ($X), with a X% share of total imports.
From 2012 to 2022, the average annual rate of growth in terms of value from China stood at X%.
Import Prices by Country
In 2022, the average percussion musical instrument import price amounted to $X per unit, jumping by X% against the previous year. Over the period under review, the import price recorded a prominent increase. The most prominent rate of growth was recorded in 2016 when the average import price increased by X% against the previous year. The import price peaked in 2022 and is expected to retain growth in the immediate term.
Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was China ($X per unit), while the price for Switzerland totaled $X per unit.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Switzerland (X%), while the prices for the other major suppliers experienced more modest paces of growth.
Source: IndexBox Platform
This report provides an in-depth analysis of the percussion musical instrument 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 32201510 - Percussion musical instruments
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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