The Nigerian crane market grew by X% to $X in 2020, rising for the third consecutive year after four years of decline. Overall, consumption has shown a relatively flat trend pattern. The most significant growth rate occurred in 2018, which was an X% increase compared to the previous year. Crane consumption peaked at $X in 2007; however, from 2008 to 2020, consumption failed to regain momentum.
After two years of decline, overseas shipments of cranes and mobile crane frames increased significantly in 2020, with sales increasing by X% to X units. Overall, exports recorded strong growth. As a result, exports peaked and may continue to grow in the short term.
Crane exports surged to $X in 2020 by value. Overall, exports showed strong growth. As a result, exports peaked and may continue to grow in the short term.
Côte d'Ivoire (X units) is the main destination for Nigerian crane exports, accounting for about X% of total exports.
From 2007 to 2020, the average annual growth rate of shipments to Côte d'Ivoire totaled +X%.
From 2007 to 2020, the value to Côte d'Ivoire has grown at an average annual rate of +X%.
In 2020, cranes and mobile cranes purchased abroad increased by X% to X units, increasing for the third consecutive year after four years of decline. Overall, imports showed a relatively flat trend pattern. The fastest growth was recorded in 2018, with imports increasing by X% year-on-year. During the period under review, imports peaked in 2020 and are expected to keep growing in the near future.
In value terms, crane imports rose significantly to $X in 2020. Overall, imports showed a relatively stable trend pattern. The growth rate was most pronounced in 2018, with a year-on-year increase of X%. Imports peaked in 2020 and are expected to keep growing in the near future.
China (X units), USA (X units) and Germany (X units) are the main suppliers of crane imports to Nigeria, accounting for X% of total imports.
From 2007 to 2020, among the major suppliers, China recorded the most significant growth rate in purchases, while imports from other leading countries experienced more moderate growth rates.
By value, Nigeria's largest crane suppliers are China ($X), Germany ($X), and the United States ($X), which together account for X% of total imports.
As far as the major suppliers are concerned, during the period under review, China experienced the highest increase in the value of imports, while the increase in purchases from other major suppliers was more moderate.
Nigeria's largest crane suppliers by value are China, Germany and the United States, which together account for 69% of total imports.
The average export price of cranes in 2020 was USD 4,023 per unit, down -57.5% from the previous year.
In 2020, the average import price of cranes was USD 3,431 per unit, down -14% from the previous year.
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