The Nigerien market for pulley tackle and hoists powered by an electric motor soared to $X in 2021, picking up by X% 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 saw a significant expansion. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.
Overseas shipments of electric motor-driven pulley tackle and hoists fell by X% to fewer than X units in 2021, the fifth consecutive year of decline after two years of growth. Overall, exports face a sharp drop. 2016 saw the fastest growth, with an increase of X% over the previous year. In 2013, the export volume reached the peak of X-unit; however, from 2014 to 2021, the export volume remained at a lower figure.
Exports of pulley tackle and lifts powered by electric motors in 2021 are less than $X in value terms. Exports contracted sharply during the reporting period. The pace of growth appears to be fastest in 2016, with exports increasing by X%. As a result, exports peak at $X. From 2017 to 2021, export growth failed to regain momentum.
Benin (X units) is the main destination for Nigerian electric pulleys and lifts exports, accounting for X% of the total exports. In addition, exports of electric pulleys and lifts to Benin outnumbered those sent to the second main destination, the Netherlands (X units), by more than ten times.
From 2012 to 2019, the average annual growth rate of sales in Benin was relatively small. From 2012 to 2019, the average annual growth rate of Dutch values was +X%.
Foreign purchases of electric motor-driven pulley tackle and hoists increased by X% to X units in 2021, rising for the third year in a row after declining for two consecutive years. Overall, imports rose sharply. As a result, imports have peaked and may continue to grow in the short term.
Imports of electric motor driven pulley tackle and hoists soared to $X in 2021 by value. Imports increased substantially during the reporting period. As a result, imports have peaked and may continue to grow in the short term.
In 2021, China (X units) is the largest supplier of electric pulley spreaders and hoists in Nigeria, accounting for X% of total imports. In addition, imports of electric motor-driven pulley tackle and hoists from China were six times higher than the figures recorded by the second largest supplier, the United States (Taiwan X).
From 2012 to 2021, the average annual growth rate of sales volume in China is +X%. The average annual growth rates of imports for the remaining suppliers are as follows: the United States (+X% per annum) and Germany (+X%).
China ($X) is the largest supplier of Electric Pulley Tackle and Lifts to Nigeria by value, accounting for X% of total imports. In second place is the United States ($X), accounting for X% of total imports.
From 2012 to 2021, the average annual growth rate of China's value is +X%. The average annual growth rates of imports for the remaining suppliers are as follows: the United States (+X% per annum) and Germany (+X%).
In value terms, China constituted the largest supplier of pulley tackle and hoists powered by an electric motor to Nigeria, comprising 79% of total imports. The second position in the ranking was held by the United States, with a 13% share of total imports.
In 2019, the average export price for pulley tackle and hoists powered by an electric motor amounted to $51 per unit, with an increase of 7.7% against the previous year.
In 2021, the average import price for pulley tackle and hoists powered by an electric motor amounted to $26 per unit, which is down by -8.9% against the previous year.
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