Nigeria - Motor Vehicles Compression-Ignition Internal Combustion Piston Engines - Market Analysis, Forecast, Size, Trends and Insights
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View PricingInternal Combustion Engines Price in Nigeria - 2022
Contents:
- Internal Combustion Engines Price in Nigeria (CIF) - 2022
- Internal Combustion Engines Price in Nigeria (FOB) - 2022
- Internal Combustion Engines Imports in Nigeria
- Internal Combustion Engines Exports in Nigeria
Internal Combustion Engines Price in Nigeria (CIF) - 2022
In 2022, the average internal combustion engines import price amounted to $1,453 per unit, which is down by -61.4% against the previous year. Over the period under review, the import price faced a abrupt curtailment. The most prominent rate of growth was recorded in 2016 when the average import price increased by 82%. Over the period under review, average import prices attained the maximum at $4,257 per unit in 2013; however, from 2014 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 ($6,435 per unit), while the price for the UK ($516 per unit) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Togo (+183.8%), while the prices for the other major suppliers experienced more modest paces of growth.
Internal Combustion Engines Price in Nigeria (FOB) - 2022
The average internal combustion engines export price stood at $1,117 per unit in 2022, reducing by -23.2% against the previous year. In general, the export price showed a deep slump. The most prominent rate of growth was recorded in 2017 when the average export price increased by 85% against the previous year. The export price peaked at $6,279 per unit in 2012; however, from 2013 to 2022, the export prices failed to regain momentum.
There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Angola ($5,084 per unit), while the average price for exports to Niger ($308 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 Democratic Republic of the Congo (+8.5%), while the prices for the other major destinations experienced mixed trend patterns.
Internal Combustion Engines Imports in Nigeria
Internal combustion engines imports into Nigeria soared to 1.1K units in 2022, increasing by 164% on the previous year. Overall, imports saw a relatively flat trend pattern. Over the period under review, imports reached the peak figure at 1.8K units in 2020; however, from 2021 to 2022, imports remained at a lower figure.
In value terms, internal combustion engines imports amounted to $1.7M in 2022. In general, imports, however, showed a precipitous descent. The pace of growth appeared the most rapid in 2020 when imports increased by 8.7% against the previous year. As a result, imports reached the peak of $4.1M. From 2021 to 2022, the growth of imports remained at a somewhat lower figure.
| Import of Internal Combustion Engines in Nigeria (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| United Kingdom | 437 | 1,621 | 11.6 | 345 | -7.6% |
| United States | 438 | 331 | 388 | 250 | -17.0% |
| China | 242 | 793 | 216 | 218 | -3.4% |
| Germany | 728 | 351 | 169 | 213 | -33.6% |
| Poland | 319 | 174 | 57.3 | 93.1 | -33.7% |
| Italy | 338 | 135 | 46.7 | 87.4 | -36.3% |
| Spain | 114 | 87.9 | 15.0 | 36.4 | -31.7% |
| Others | 1,132 | 581 | 732 | 426 | -27.8% |
| Total | 3,747 | 4,074 | 1,636 | 1,668 | -23.6% |
Top Suppliers of Internal Combustion Engines to Nigeria in 2022:
- United Kingdom (668.0 units)
- China (260.0 units)
- Spain (66.0 units)
- United States (39.0 units)
- Germany (35.0 units)
- Italy (13.0 units)
- Poland (11.0 units)
Internal Combustion Engines Exports in Nigeria
In 2022, the amount of motor vehicles compression-ignition internal combustion piston engines exported from Nigeria amounted to 103 units, rising by 8.4% on the year before. In general, exports, however, recorded a deep slump. The most prominent rate of growth was recorded in 2021 with an increase of 28% against the previous year. The exports peaked at 163 units in 2019; however, from 2020 to 2022, the exports remained at a lower figure.
In value terms, internal combustion engines exports shrank sharply to $115K in 2022. Over the period under review, exports, however, recorded a deep downturn. The pace of growth was the most pronounced in 2021 with an increase of 48% against the previous year. The exports peaked at $160K in 2019; however, from 2020 to 2022, the exports failed to regain momentum.
| Export of Internal Combustion Engines in Nigeria (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Angola | 65.3 | 48.6 | 90.6 | 73.9 | 4.2% |
| Gambia | 23.9 | 18.4 | 7.1 | 11.8 | -21.0% |
| Democratic Republic of the Congo | 25.9 | 5.3 | 11.0 | 10.2 | -26.7% |
| Niger | 2.2 | 7.2 | 6.4 | 5.2 | 33.2% |
| Burkina Faso | N/A | N/A | 5.6 | N/A | 0% |
| Others | 43.0 | 13.5 | 17.3 | 14.3 | -30.7% |
| Total | 160 | 93.0 | 138 | 115 | -10.4% |
Top Export Markets for Internal Combustion Engines from Nigeria in 2022:
- Gambia (38.0 units)
- Democratic Republic of the Congo (33.0 units)
- Niger (17.0 units)
- Angola (15.0 units)
This report provides an in-depth analysis of the internal combustion engines 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 29101300 - Vehicle compression-ignition internal combustion piston engines (diesel or semi-diesel) (excluding for railway or tramway rolling stock)
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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