Nigeria - Interchangeable Spanner Sockets - Market Analysis, Forecast, Size, Trends and Insights
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View PricingNigeria: Interchangeable Spanner Socket Market 2024
Interchangeable Spanner Socket Market Size in Nigeria
The Nigerien interchangeable spanner socket market was estimated at $X in 2022, remaining constant 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). Overall, consumption, however, continues to indicate a slight descent. Over the period under review, the market hit record highs at $X in 2014; however, from 2015 to 2022, consumption remained at a lower figure.
Interchangeable Spanner Socket Exports
Exports from Nigeria
In 2022, shipments abroad of interchangeable spanner sockets decreased by X% to X kg for the first time since 2019, thus ending a two-year rising trend. Overall, exports, however, continue to indicate a mild expansion. The most prominent rate of growth was recorded in 2016 when exports increased by X%. As a result, the exports reached the peak of X tons. From 2017 to 2022, the growth of the exports remained at a lower figure.
In value terms, interchangeable spanner socket exports shrank significantly to $X in 2022. Over the period under review, exports faced a abrupt decrease. The most prominent rate of growth was recorded in 2015 when exports increased by X% against the previous year. As a result, the exports attained the peak of $X. From 2016 to 2022, the growth of the exports remained at a lower figure.
Exports by Country
Benin (X kg) was the main destination for interchangeable spanner socket exports from Nigeria, accounting for a X% share of total exports. Moreover, interchangeable spanner socket exports to Benin exceeded the volume sent to the second major destination, the Netherlands (X kg), ninefold. Norway (X kg) ranked third in terms of total exports with a X% share.
From 2012 to 2022, the average annual rate of growth in terms of volume to Benin totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Netherlands (X% per year) and Norway (X% per year).
In value terms, Norway ($X) emerged as the key foreign market for interchangeable spanner sockets exports from Nigeria, comprising X% of total exports. The second position in the ranking was taken by Benin ($X), with a X% share of total exports. It was followed by the Netherlands, with an X% share.
From 2012 to 2022, the average annual rate of growth in terms of value to Norway 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).
Export Prices by Country
In 2022, the average interchangeable spanner socket export price amounted to $X per ton, declining by X% against the previous year. In general, the export price showed a deep contraction. The pace of growth appeared the most rapid in 2017 an increase of X%. Over the period under review, the average export prices hit record highs at $X per ton in 2015; however, from 2016 to 2022, the export prices failed to regain momentum.
Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Norway ($X per ton), while the average price for exports to India ($X per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the Netherlands (X%), while the prices for the other major destinations experienced a decline.
Interchangeable Spanner Socket Imports
Imports into Nigeria
In 2022, approx. X tons of interchangeable spanner sockets were imported into Nigeria; approximately mirroring the previous year's figure. Overall, imports, however, showed a mild setback. The most prominent rate of growth was recorded in 2018 when imports increased by X% against the previous year. Imports peaked at X tons in 2014; however, from 2015 to 2022, imports stood at a somewhat lower figure.
In value terms, interchangeable spanner socket imports expanded to $X in 2022. Over the period under review, imports, however, showed a abrupt decline. The most prominent rate of growth was recorded in 2018 when imports increased by X%. Imports peaked at $X in 2014; however, from 2015 to 2022, imports stood at a somewhat lower figure.
Imports by Country
In 2022, China (X tons) constituted the largest supplier of interchangeable spanner socket to Nigeria, accounting for a X% share of total imports. Moreover, interchangeable spanner socket imports from China exceeded the figures recorded by the second-largest supplier, Germany (X tons), more than tenfold. India (X tons) ranked third in terms of total imports with a X% share.
From 2012 to 2022, the average annual rate of growth in terms of volume from China stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (X% per year) and India (X% per year).
In value terms, Germany ($X), China ($X) and the United States ($X) appeared to be the largest interchangeable spanner socket suppliers to Nigeria, together comprising X% of total imports. The UK, India, Turkey and Taiwan (Chinese) lagged somewhat behind, together accounting for a further X%.
In terms of the main suppliers, Turkey, with a CAGR of X%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.
Import Prices by Country
In 2022, the average interchangeable spanner socket import price amounted to $X per ton, increasing by X% against the previous year. Over the period under review, the import price, however, showed a noticeable descent. The pace of growth appeared the most rapid in 2020 an increase of X% against the previous year. The import price peaked at $X per ton in 2015; however, from 2016 to 2022, import prices stood at a somewhat lower figure.
There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was the United States ($X per ton), while the price for China ($X per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (X%), while the prices for the other major suppliers experienced more modest paces of growth.
Source: IndexBox Platform
Frequently Asked Questions (FAQ) :
This report provides an in-depth analysis of the interchangeable spanner socket 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 25733037 - Interchangeable spanner sockets
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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