Nigeria: Fuel Filter Market 2024

Fuel Filter Market Size in Nigeria

In 2022, the Nigerien fuel filter market was finally on the rise to reach $X after two years of decline. In general, consumption, however, recorded a perceptible contraction. Over the period under review, the market hit record highs at $X in 2014; however, from 2015 to 2022, consumption stood at a somewhat lower figure.

Fuel Filter Exports

Exports from Nigeria

Fuel filter exports from Nigeria shrank rapidly to X units in 2015, with a decrease of X% against 2014. In general, exports saw a sharp setback. The exports peaked at X units in 2013; however, from 2014 to 2015, the exports stood at a somewhat lower figure.

In value terms, fuel filter exports fell dramatically to $X in 2015. Over the period under review, exports recorded a dramatic downturn. The exports peaked at $X in 2013; however, from 2014 to 2015, the exports failed to regain momentum.

Exports by Country

Sierra Leone (X units), Democratic Republic of the Congo (X units) and Angola (X units) were the main destinations of fuel filter exports from Nigeria, with a combined X% share of total exports. Ghana, Cote d'Ivoire, Sao Tome and Principe, Gabon, Benin, Gambia, the Netherlands, Morocco, Congo and France lagged somewhat behind, together accounting for a further X%.

From 2013 to 2015, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Gabon (with a CAGR of X%), while the other leaders experienced more modest paces of growth.

In value terms, Sierra Leone ($X) remains the key foreign market for oil or petrol-filters for internal combustion engines exports from Nigeria, comprising X% of total exports. The second position in the ranking was held by Democratic Republic of the Congo ($X), with a X% share of total exports. It was followed by Angola, with a X% share.

From 2013 to 2015, the average annual rate of growth in terms of value to Sierra Leone amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Democratic Republic of the Congo (X% per year) and Angola (X% per year).

Export Prices by Country

In 2015, the average fuel filter export price amounted to $X per unit, with a decrease of X% against the previous year. In general, the export price showed a precipitous shrinkage. The growth pace was the most rapid in 2014 a decrease of X%. Over the period under review, the average export prices hit record highs at $X per unit in 2013; however, from 2014 to 2015, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Sierra Leone ($X per unit), while the average price for exports to France ($X per unit) was amongst the lowest.

From 2013 to 2015, the most notable rate of growth in terms of prices was recorded for supplies to Sierra Leone (X%), while the prices for the other major destinations experienced mixed trend patterns.

Fuel Filter Imports

Imports into Nigeria

In 2022, after two years of decline, there was growth in overseas purchases of oil or petrol-filters for internal combustion engines, when their volume increased by X% to X units. In general, imports, however, recorded a drastic downturn. The pace of growth appeared the most rapid in 2016 with an increase of X%. Over the period under review, imports reached the peak figure at X units in 2014; however, from 2015 to 2022, imports stood at a somewhat lower figure.

In value terms, fuel filter imports skyrocketed to $X in 2022. Overall, imports, however, showed a perceptible setback. The pace of growth was the most pronounced in 2016 when imports increased by X% against the previous year. Imports peaked at $X in 2014; however, from 2015 to 2022, imports failed to regain momentum.

Imports by Country

The United States (X units), China (X units) and the UK (X units) were the main suppliers of fuel filter imports to Nigeria, together comprising X% of total imports. Turkey, Belgium, Germany, Italy, the Czech Republic, South Africa, Mexico, the Netherlands, France and the United Arab Emirates lagged somewhat behind, together comprising a further X%.

From 2012 to 2022, the biggest increases were recorded for Mexico (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest fuel filter suppliers to Nigeria were the United States ($X), China ($X) and the UK ($X), with a combined X% share of total imports. Turkey, Belgium, Germany, Italy, the Czech Republic, South Africa, Mexico, the Netherlands, France and the United Arab Emirates lagged somewhat behind, together comprising a further X%.

Mexico, with a CAGR of X%, saw the highest growth rate of the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average fuel filter import price stood at $X per unit in 2022, surging by X% against the previous year. Over the last decade, it increased at an average annual rate of X%. The growth pace was the most rapid in 2018 when the average import price increased by X% against the previous year. Over the period under review, average import prices hit record highs in 2022 and is likely to see gradual growth in years to come.

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 the Netherlands ($X per unit), while the price for the United Arab Emirates ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Mexico (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :