Cranes; Tower Cranes Price in Nigeria - 2022
Contents:
Cranes; Tower Cranes Price in Nigeria (CIF) - 2022
In 2022, the average cranes; tower cranes import price amounted to $66,139 per unit, with a decrease of -3.7% against the previous year. In general, the import price saw a deep downturn. The most prominent rate of growth was recorded in 2021 an increase of 202%. Over the period under review, average import prices hit record highs at $123,239 per unit in 2012; however, from 2013 to 2022, import prices remained at a 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 Portugal ($188,393 per unit), while the price for Belgium ($4,934 per unit) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Portugal (+7.5%), while the prices for the other major suppliers experienced more modest paces of growth.
Cranes; Tower Cranes Imports in Nigeria
In 2022, supplies from abroad of cranes; tower craneses decreased by 0% to 59 units, falling for the second year in a row after two years of growth. In general, imports showed significant growth. The growth pace was the most rapid in 2020 with an increase of 531% against the previous year. As a result, imports attained the peak of 164 units. From 2021 to 2022, the growth of imports failed to regain momentum.
In value terms, cranes; tower cranes imports shrank to $3.9M in 2022. Overall, total imports indicated resilient growth from 2019 to 2022: its value increased at an average annual rate of +13.7% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +47.1% against 2019 indices. The most prominent rate of growth was recorded in 2020 when imports increased by 41%. Over the period under review, imports hit record highs at $4.1M in 2021, and then shrank slightly in the following year.
| Import of Cranes; Tower Cranes in Nigeria (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Germany | 38.3 | 664 | 1,565 | 1,364 | 229.0% |
| Portugal | 178 | 696 | 1,040 | 1,031 | 79.6% |
| India | 55.4 | 277 | 158 | 222 | 58.8% |
| Italy | 17.8 | 462 | 420 | 205 | 125.8% |
| Turkey | 8.6 | 44.4 | 87.5 | 172 | 171.4% |
| Botswana | 17.6 | 72.0 | 113 | 118 | 88.6% |
| Spain | 8.9 | 101 | 38.2 | 60.8 | 89.7% |
| Ireland | 8.9 | 36.3 | 57.0 | 59.3 | 88.2% |
| China | 2,118 | 52.6 | 53.2 | 40.1 | -73.3% |
| Belgium | 2.9 | 4.8 | 8.7 | 8.1 | 40.8% |
| Others | 196 | 1,321 | 530 | 620 | 46.8% |
| Total | 2,651 | 3,730 | 4,070 | 3,900 | 13.7% |
Top Suppliers of Cranes; Tower Cranes to Nigeria in 2022:
- Turkey (18.0 units)
- Germany (8.0 units)
- Botswana (7.0 units)
- Portugal (5.0 units)
- India (4.0 units)
- Italy (3.0 units)
- Ireland (3.0 units)
- Spain (3.0 units)
- Belgium (2.0 units)
- China (1.0 units)
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