The Nigerian haulage and overhead crane market recorded a third consecutive year of declining sales, falling -X% to $X in 2021. Overall, consumption faces a sharp decline. During the period under review, the market peaked at $X in 2012; however, from 2013 to 2021, consumption was at a lower level.
In 2021, there will be less than X units of transport cranes, gantry cranes and overhead cranes exported from Nigeria; it will be flat in 2020. During the period under review, exports increased significantly. The most significant growth rate occurred in 2015, when exports increased by X% year-on-year. As a result, exports peaked at X units. From 2016 to 2021, the export growth rate will remain at a low level.
In terms of value, exports of haulage cranes and overhead cranes rose significantly to $X in 2021. Overall, exports continued to decline significantly. The most significant growth rate occurred in 2014, when exports increased by X% year-on-year. As a result, exports peaked at X dollars. From 2015 to 2021, the export growth rate will remain at a low level.
Norway (X units) is the main destination for Nigerian exports of transport and overhead cranes, accounting for approximately X% of total exports.
From 2012 to 2015, the average annual growth rate of freight traffic to Norway was relatively modest.
From 2012 to 2015, the average annual value growth rate for Norway was relatively modest.
Nigeria’s overseas purchases of haulage, gantry and overhead cranes fell for the third year in a row, falling -X% to X units in 2021. Overall, imports continued to show a sharp contraction trend. The most significant growth rate occurred in 2018, 10 ton gantry crane with an X% year-over-year increase. During the period under review, imports reached an all-time high of X units in 2012; however, from 2013 to 2021, imports decreased slightly.
In value terms, the import of transport cranes and overhead cranes will drop significantly to $X in 2021. Overall, imports face a sudden drop. The most significant growth rate occurred in 2018, with an X% year-over-year increase. As a result, imports peaked at X dollars. Import growth will remain low in 2019-2021.
In 2021, Singapore (X units) is the largest supplier of transport cranes and overhead cranes in Nigeria, accounting for X% of total imports. In addition, the number of transport cranes and overhead cranes imported from Singapore was four times higher than that recorded by the second largest supplier, the United Arab Emirates (X units). In third place is China (X units) with an X% share.
From 2012 to 2021, the average annual growth rate of sales in Singapore is +X%. The average annual growth rates of imports for the remaining suppliers are as follows: United Arab Emirates (X% per annum) and China (-X% per annum).
Singapore (USD X) is Nigeria's largest supplier of transport and overhead cranes by value, accounting for X% of total imports. In second place is the United Arab Emirates ($X) with X% of total imports. It is followed by China with an X% share.
From 2012 to 2021, the average annual growth rate of Singapore value is +X%. The average annual growth rates of imports for the remaining suppliers are as follows: United Arab Emirates (X% per annum) and China (-X% per annum).
Singapore is Nigeria's largest supplier of transport and overhead cranes by value, accounting for 45% of total imports. In second place is the United Arab Emirates with 10% of total imports. It is followed by China with a share of 7.6%.
The average export price of transport and overhead cranes in 2015 was USD 17,769 per unit, a decrease of -87.2% from the previous year.
In 2021, the average import price of transport cranes and overhead cranes will be USD 4,828 per unit, a decrease of -52.9% from the previous year.
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