Nigeria - Electrical Lighting Or Visual Signaling Equipment For Motor Vehicles And Cycles - Market Analysis, Forecast, Size, Trends and Insights
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View PricingPrice for Lighting Equipment for Motor Vehicles in Nigeria - 2022
Contents:
- Price for Lighting Equipment for Motor Vehicles in Nigeria (CIF) - 2022
- Price for Lighting Equipment for Motor Vehicles in Nigeria (FOB) - 2022
- Imports of Lighting Equipment for Motor Vehicles in Nigeria
- Exports of Lighting Equipment for Motor Vehicles in Nigeria
Price for Lighting Equipment for Motor Vehicles in Nigeria (CIF) - 2022
The average import price for electrical lighting or visual signaling equipment for motor vehicles and cycles stood at $6.7 per unit in 2022, declining by -8.1% against the previous year. In general, the import price saw a deep contraction. The most prominent rate of growth was recorded in 2017 an increase of 49% against the previous year. As a result, import price reached the peak level of $23 per unit. From 2018 to 2022, the average import prices remained at a somewhat lower figure.
As there is only one major supplying country, the average price level is determined by prices for the United Arab Emirates.
From 2012 to 2022, the rate of growth in terms of prices for Germany amounted to -3.4% per year.
Price for Lighting Equipment for Motor Vehicles in Nigeria (FOB) - 2022
In 2022, the average export price for electrical lighting or visual signaling equipment for motor vehicles and cycles amounted to $14 per unit, dropping by -30% against the previous year. In general, the export price showed a drastic downturn. The most prominent rate of growth was recorded in 2020 when the average export price increased by 58%. Over the period under review, the average export prices reached the peak figure at $29 per unit in 2012; however, from 2013 to 2022, the export prices remained at a lower figure.
Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the Netherlands ($14 per unit), while the average price for exports to Niger ($4.9 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 Ghana (+14.3%), while the prices for the other major destinations experienced more modest paces of growth.
Imports of Lighting Equipment for Motor Vehicles in Nigeria
After two years of decline, overseas purchases of electrical lighting or visual signaling equipment for motor vehicles and cycles increased by 19% to 470K units in 2022. Overall, imports, however, saw a deep setback. Over the period under review, imports hit record highs at 641K units in 2019; however, from 2020 to 2022, imports remained at a lower figure.
In value terms, lighting equipment for motor vehicles imports rose rapidly to $3.1M in 2022. Over the period under review, imports, however, showed a precipitous setback. Over the period under review, imports attained the maximum at $10M in 2019; however, from 2020 to 2022, imports failed to regain momentum.
Import of Lighting Equipment for Motor Vehicles in Nigeria (Million USD) | |||||
---|---|---|---|---|---|
COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
United Arab Emirates | 0.1 | 0.2 | 0.1 | 3.1 | 214.1% |
China | 7.3 | 3.3 | 1.3 | N/A | -57.8% |
Germany | 0.4 | 0.3 | 0.3 | N/A | -13.4% |
United States | 0.3 | 0.2 | 0.1 | N/A | -42.3% |
India | 0.6 | 0.3 | 0.5 | N/A | -8.7% |
Taiwan (Chinese) | 1.0 | 0.6 | 0.3 | N/A | -45.2% |
Others | 0.5 | 1.4 | 0.3 | N/A | -22.5% |
Total | 10.3 | 6.3 | 2.9 | 3.1 | -33.0% |
Top Suppliers of Lighting Equipment for Motor Vehicles to Nigeria in 2022:
- United Arab Emirates (469.5K units)
Exports of Lighting Equipment for Motor Vehicles in Nigeria
In 2022, the amount of electrical lighting or visual signaling equipment for motor vehicles and cycles exported from Nigeria rose remarkably to 18K units, growing by 14% on 2021 figures. Overall, exports recorded a buoyant increase. The growth pace was the most rapid in 2021 when exports increased by 101%. The exports peaked in 2022 and are expected to retain growth in the near future.
In value terms, lighting equipment for motor vehicles exports fell dramatically to $244K in 2022. In general, exports showed a strong expansion. The pace of growth appeared the most rapid in 2021 with an increase of 69% against the previous year. As a result, the exports attained the peak of $307K, and then declined dramatically in the following year.
Export of Lighting Equipment for Motor Vehicles in Nigeria (Thousand USD) | |||||
---|---|---|---|---|---|
COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
Benin | 31.3 | 30.7 | 257 | 218 | 91.0% |
Netherlands | N/A | N/A | N/A | 17.2 | 0% |
Niger | 0.2 | N/A | 4.3 | 3.0 | 146.6% |
Cote d'Ivoire | 79.9 | 135 | N/A | N/A | 69.0% |
Angola | 20.9 | 8.1 | 8.2 | N/A | -37.4% |
Others | 30.7 | 7.9 | 36.6 | 5.9 | -42.3% |
Total | 163 | 182 | 307 | 244 | 14.4% |
Top Export Markets for Lighting Equipment for Motor Vehicles from Nigeria in 2022:
- Benin (15.6K units)
- Netherlands (1.2K units)
- Niger (0.6K units)
This report provides an in-depth analysis of the market for lighting equipment for motor vehicles 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 27403910 - Electrical lighting or visual signalling equipment for motor vehicles (excluding electric filament or discharge lamps, s ealed beam lamp units, ultraviolet, infrared and arc lamps)
- Prodcom 29312310 - Electrical or battery operated lighting or visual signalling of a kind used on bicycles
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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Global lighting equipment imports stood at X tons in 2016, descending by -X% against the previous year level. The total import volume increased at an average annual rate of +X% over the perio...
Global lighting equipment imports stood at X tons in 2016, descending by -X% against the previous year level. The total import volume increased at an average annual rate of +X% over the perio...
Global lighting equipment imports stood at X tons in 2016, descending by -X% against the previous year level. The total import volume increased at an average annual rate of +X% over the perio...
Global lighting equipment imports stood at X tons in 2016, descending by -X% against the previous year level. The total import volume increased at an average annual rate of +X% over the perio...