Nigeria - Boring Or Sinking Machinery - Market Analysis, Forecast, Size, Trends And Insights
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View PricingBoring Machinery Price in Nigeria - 2022
Contents:
- Boring Machinery Price in Nigeria (CIF) - 2022
- Boring Machinery Price in Nigeria (FOB) - 2022
- Boring Machinery Imports in Nigeria
- Boring Machinery Exports in Nigeria
Boring Machinery Price in Nigeria (CIF) - 2022
In 2022, the average boring machinery import price amounted to $3,715 per unit, reducing by -50.9% against the previous year. Over the period under review, the import price faced a sharp reduction. The most prominent rate of growth was recorded in 2014 an increase of 97% against the previous year. As a result, import price attained the peak level of $107,265 per unit. From 2015 to 2022, the average 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 China ($4,610 per unit), while the price for the United States ($35 per unit) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (-8.0%), while the prices for the other major suppliers experienced a decline.
Boring Machinery Price in Nigeria (FOB) - 2022
In 2022, the average boring machinery export price amounted to $24,322 per unit, increasing by 3.8% against the previous year. In general, the export price, however, saw a deep downturn. The pace of growth appeared the most rapid in 2019 when the average export price increased by 77%. Over the period under review, the average export prices attained the maximum at $150,742 per unit in 2012; however, from 2013 to 2022, the export prices stood at a somewhat 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 the UK ($930,020 per unit), while the average price for exports to Niger ($656 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 UK (+185.6%), while the prices for the other major destinations experienced more modest paces of growth.
Boring Machinery Imports in Nigeria
Boring machinery imports into Nigeria fell slightly to 1K units in 2022, which is down by -2.9% compared with the previous year's figure. In general, imports recorded a dramatic slump. The pace of growth appeared the most rapid in 2021 with an increase of 6% against the previous year. Imports peaked at 3.9K units in 2019; however, from 2020 to 2022, imports stood at a somewhat lower figure.
In value terms, boring machinery imports contracted remarkably to $3.9M in 2022. Overall, imports faced a dramatic slump. The smallest decline of -20.7% was in 2021. Over the period under review, imports reached the maximum at $53M in 2019; however, from 2020 to 2022, imports failed to regain momentum.
| Import of Boring Machinery in Nigeria (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| China | 23.9 | 0.9 | 2.3 | 3.5 | -47.3% |
| Benin | 0.4 | 0.4 | 0.2 | 0.1 | -37.0% |
| Ecuador | N/A | N/A | 2.4 | N/A | 0% |
| United States | 22.8 | 4.9 | 0.8 | N/A | -81.3% |
| Others | 5.5 | 4.1 | 2.4 | 0.3 | -62.1% |
| Total | 52.6 | 10.3 | 8.2 | 3.9 | -58.0% |
Top Suppliers of Boring Machinery to Nigeria in 2022:
- China (756.0 units)
- United States (221.0 units)
- Benin (28.0 units)
Boring Machinery Exports in Nigeria
In 2022, after two years of decline, there was significant decline in overseas shipments of boring or sinking machinery, when their volume decreased by -50.9% to 26 units. Overall, exports, however, saw significant growth. The exports peaked at 53 units in 2021, and then fell rapidly in the following year.
In value terms, boring machinery exports reduced dramatically to $632K in 2022. In general, exports, however, continue to indicate significant growth. The most prominent rate of growth was recorded in 2021 with an increase of 5,334% against the previous year. As a result, the exports attained the peak of $1.2M, and then dropped dramatically in the following year.
| Export of Boring Machinery in Nigeria (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| China | 152 | 13.5 | 894 | 454 | 44.0% |
| India | 98.2 | 6.7 | 242 | 131 | 10.1% |
| Angola | 14.2 | 0.4 | 29.8 | 15.1 | 2.1% |
| Niger | 0.6 | N/A | 6.1 | 3.1 | 72.9% |
| Cote d'Ivoire | 2.0 | 0.1 | 4.9 | 2.6 | 9.1% |
| Benin | 0.7 | 0.1 | 1.9 | 1.1 | 16.3% |
| Others | 35.4 | 2.0 | 62.5 | 26.3 | -9.4% |
| Total | 304 | 22.9 | 1,242 | 632 | 27.6% |
Top Export Markets for Boring Machinery from Nigeria in 2022:
- India (15.0 units)
- Niger (5.0 units)
- Cote d'Ivoire (3.0 units)
- Angola (1.0 units)
- Benin (1.0 units)
This report provides an in-depth analysis of the boring machinery 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 28921255 - Boring or sinking machinery (including fixed platforms used for oil or natural gas exploration) (excluding self-propelled)
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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