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Nigeria - Spherical Roller Bearings - Market Analysis, Forecast, Size, Trends and Insights
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View PricingNigeria: Spherical Roller Bearing Market 2024
Spherical Roller Bearing Market Size in Nigeria
The Nigerien spherical roller bearing market soared to $X in 2023, jumping 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, however, saw a abrupt downturn. Nigeria consumption peaked at $X in 2012; however, from 2013 to 2023, consumption remained at a lower figure.
Spherical Roller Bearing Exports
Exports from Nigeria
In 2023, exports of spherical roller bearings from Nigeria surged to X kg, growing by X% compared with the year before. Overall, exports continue to indicate a significant expansion. Over the period under review, the exports attained the peak figure at X kg in 2014; however, from 2015 to 2023, the exports failed to regain momentum.
In value terms, spherical roller bearing exports soared to $X in 2023. In general, exports showed a significant increase. Over the period under review, the exports reached the peak figure at $X in 2021; however, from 2022 to 2023, the exports stood at a somewhat lower figure.
Exports by Country
China was the largest exporter of spherical roller bearings in the world, with the volume of exports finishing at X tons, which was approx. X% of total exports in 2023. Sweden (X tons) held the second position in the ranking, followed by Germany (X tons), Japan (X tons) and Romania (X tons). All these countries together took near X% share of total exports. Belgium (X tons), Malaysia (X tons), France (X tons), Thailand (X tons), Singapore (X tons), the UK (X tons), Italy (X tons) and the United States (X tons) took a minor share of total exports.
From 2012 to 2023, average annual rates of growth with regard to spherical roller bearing exports from China stood at X%. At the same time, Thailand (X%), Malaysia (X%), Romania (X%) and France (X%) displayed positive paces of growth. Moreover, Thailand emerged as the fastest-growing exporter exported in the world, with a CAGR of X% from 2012-2023. Italy experienced a relatively flat trend pattern. By contrast, Germany (X%), Japan (X%), Sweden (X%), Belgium (X%), the UK (X%), Singapore (X%) and the United States (X%) illustrated a downward trend over the same period. From 2012 to 2023, the share of China, Romania and Thailand increased by X, X and X percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.
In value terms, Sweden ($X), Germany ($X) and China ($X) were the countries with the highest levels of exports in 2023, with a combined X% share of total exports. Japan, Belgium, the United States, Romania, France, the UK, Malaysia, Italy, Singapore and Thailand lagged somewhat behind, together accounting for a further X%.
Thailand, with a CAGR of X%, saw the highest growth rate of the value of exports, among the main exporting countries over the period under review, while shipments for the other leaders experienced more modest paces of growth.
Export Prices by Country
The export price in Nigeria stood at $X per ton in 2023, jumping by X% against the previous year. Over the period under review, the export price recorded a buoyant expansion. Over the period under review, the export prices hit record highs at $X per ton in 2017; however, from 2018 to 2023, the export prices failed to regain momentum.
There were significant differences in the average prices amongst the major exporting countries. In 2023, amid the top suppliers, the country with the highest price was the United States ($X per ton), while China ($X per ton) was amongst the lowest.
From 2012 to 2023, the most notable rate of growth in terms of prices was attained by the United States (X%), while the other leaders experienced more modest paces of growth.
Spherical Roller Bearing Imports
Imports into Nigeria
In 2023, spherical roller bearing imports into Nigeria skyrocketed to X tons, jumping by X% on 2022 figures. In general, imports, however, continue to indicate a abrupt curtailment. The most prominent rate of growth was recorded in 2020 with an increase of X%. Nigeria imports peaked at X tons in 2021; however, from 2022 to 2023, imports failed to regain momentum.
In value terms, spherical roller bearing imports skyrocketed to $X in 2023. Over the period under review, imports, however, continue to indicate a dramatic curtailment. The pace of growth was the most pronounced in 2020 with an increase of X%. Nigeria imports peaked at $X in 2012; however, from 2013 to 2023, imports stood at a somewhat lower figure.
Imports by Country
In 2023, China (X tons), Belgium (X tons), India (X tons), Germany (X tons), the United States (X tons), South Korea (X tons), France (X tons), Brazil (X tons), Turkey (X tons), Russia (X tons), Italy (X tons) and Thailand (X tons) represented the main importer of spherical roller bearings in the world, committing X% of total import. Canada (X tons) took a relatively small share of total imports.
From 2012 to 2023, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by India (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.
In value terms, Belgium ($X), the United States ($X) and China ($X) were the countries with the highest levels of imports in 2023, together comprising X% of total imports. India, Germany, France, Italy, South Korea, Turkey, Brazil, Canada, Russia and Thailand lagged somewhat behind, together comprising a further X%.
India, with a CAGR of X%, saw the highest growth rate of the value of imports, among the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.
Import Prices by Country
The import price in Nigeria stood at $X per ton in 2023, declining by X% against the previous year. In general, the import price recorded a abrupt slump. The most prominent rate of growth was recorded in 2014 when the import price increased by X% against the previous year. Nigeria import price peaked at $X per ton in 2012; however, from 2013 to 2023, import prices stood at a somewhat lower figure.
Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was the United States ($X per ton), while Thailand ($X per ton) was amongst the lowest.
From 2012 to 2023, the most notable rate of growth in terms of prices was attained by the United States (X%), while the other leaders experienced more modest paces of growth.
Source: IndexBox Platform
This report provides an in-depth analysis of the spherical roller bearing 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 28151055 - Spherical roller bearings
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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