Market Forecast By Type (Room Air Conditioner, Ducted Air Conditioner, Ductless Air Conditioner, Centralized Air Conditioner), By Application (Residential, Healthcare, Commercial & Retail, Transportation & Infrastructure, Hospitality, Others) And Competitive Landscape
|Product Code: ETC090108||Publication Date: Feb 2023||Updated Date: May 2023||Product Type: Market Research Report|
|Publisher: 6Wresearch||No. of Pages: 70||No. of Figures: 35||No. of Tables: 5|
In the year 2021, China was the largest exporter in terms of value, followed by Malaysia. It has registered a decline of -34.8% over previous year. While Malaysia registered a decline of -48.26% over previous year. While in 2017 China was the largest exporter followed by Turkey. In term of Herfindahl Index, which measures the competitiveness of countries exporting, Nigeria has Herfindahl index of 4337 in 2017 which signifies high concentration while in 2021 it registered a Herfindahl index of 8611 which signifies high concentration in the market
Nigeria Air Conditioner (AC) Market report thoroughly covers the market by types and by applications. The market outlook report provides an unbiased and detailed analysis of the ongoing market trends, opportunities/high growth areas, and market drivers which would help the stakeholders to devise and align their market strategies according to the current and future market dynamics.
Nigeria Air Conditioner (AC) Market is projected to grow over the coming years. Nigeria Air Conditioner (AC) Market report is a part of our periodical regional publication Africa Air Conditioner (AC) Market outlook report. 6W tracks the air conditioner market for over 60 countries with individual country-wise market opportunity assessments and publishes the report titled Global Air Conditioner (AC) Market outlook report annually.
Nigeria Air Conditioner Market has been growing in recent years due to the growing demand for cooling solutions, especially in the residential and commercial sectors. The government has also taken steps to support the growth of the air conditioner market by implementing favorable policies. Additionally, the growth of the construction industry and the rising disposable income of consumers are expected to further proliferate the demand for air conditioners in Nigeria in the future years. There have been several developments in the Nigeria air conditioner market which include growing demand for energy-efficient air conditioners in Nigeria as many consumers are opting for air conditioners with high SEER (Seasonal Energy Efficiency Ratio) ratings due to their capacity to consume less energy.
Many leading air conditioning brands have been expanding their retail networks in Nigeria, making it feasible for consumers to purchase air conditioners in cities and towns. Moreover, the increasing number of residential construction projects in Nigeria is creating new opportunities for the air conditioning market as several new homes are being built with air conditioning systems installed. Furthermore, the growth of commercial air conditioning such as the expansion of shopping malls, office buildings, and hotels. This creates new opportunities for the air conditioning industry. Lastly, there has been a growing demand for air conditioners that can improve indoor air quality and provide a more comfortable and soothing living environment.
Air Conditioner Market in Nigeria is expected to project substantial growth during the forecast period owing to the expansion of the hospitality sector. The establishment of offices, private complexes and shopping malls are driving the demand for Air Conditioner. Moreover, the adoption of Air Conditioner as necessities instead of luxury due to soaring weather conditions further led to the development of the market. The soaring temperature along with unfavourable weather conditions is expected to further boost the growth of the market.
According to 6Wresearch, Nigeria Air Conditioner (AC) Market size is projected to grow at a CAGR of 4.4% during 2021-2027. Increasing disposable income backed by a rising population beholds the growth of the market. Increasing investment by the public and private sectors along with the development of commercial and residential projects led to an upsurge in the growth of the market. Growing migration towards urban areas coupled with the burgeoning purchasing power of the consumers. However, the market suffered a rapid decline due to the outburst of COVID-19 leading to disruption in the production and supply chain. The recent outbreak of the global pandemic led to the shutting down of retail stores further beholds the negative growth of Nigeria AC Market. Nigeria occupies the 4th position in terms of the market size in the Africa Air Conditioner Market.
The COVID-19 pandemic has had a significant impact on Nigeria Air Conditioner (AC) Industry. The pandemic caused disruptions in global supply chains and resulted in restrictions on international trade and transportation logistics which led to delays in the availability of AC units. The pandemic resulted in an economic downturn, which has led to a decrease in demand for air conditioners as individuals and businesses delayed non-essential purchases. Also, restrictions on businesses and social gatherings had an impact on commercial spaces, which experienced reduced occupancy for AC installations and maintenance.
The Nigeria Air Conditioner (AC) Market has various leading players, including both international and domestic manufacturers and suppliers.
In terms of market by type, Room Air Conditioner dominates the market and is expected to remain in a dominant position in the coming years. However, Centralized Air Conditioner is expected to have the fastest growth rate among all types.
In terms of application, Residential dominates the Nigeria Air Conditioner (AC) Market share and is expected to remain in a dominant position in the coming years. However, Commercial & Retail is expected to have the fastest growth rate among all applications.
The report provides a detailed analysis of the following market segments:
|1 Executive Summary|
|2.1 Key Highlights of the Report|
|2.2 Report Description|
|2.3 Market Scope & Segmentation|
|2.4 Research Methodology|
|3 Nigeria Air Conditioner Market Overview|
|3.1 Nigeria Air Conditioner Market Revenues & Volume, 2017 - 2027F|
|3.2 Nigeria Air Conditioner Market - Industry Life Cycle|
|3.3 Nigeria Air Conditioner Market - Porter's Five Forces|
|3.4 Nigeria Air Conditioner Market Revenues & Volume Share, By Type, 2020 & 2027F|
|3.5 Nigeria Air Conditioner Market Revenues & Volume Share, By Application, 2020 & 2027F|
|4 Nigeria Air Conditioner Market Dynamics|
|4.1 Impact Analysis|
|4.2 Market Drivers|
|4.3 Market Restraints|
|5 Nigeria Air Conditioner Market Trends|
|6 Nigeria Air Conditioner Market Segmentation|
|6.1 Nigeria Air Conditioner Market, By Type|
|6.1.1 Overview and Analysis|
|6.1.2 Nigeria Air Conditioner Market Revenues & Volume, By Type, 2017 - 2027F|
|6.1.3 Nigeria Air Conditioner Market Revenues & Volume, By Room Air Conditioner, 2017 - 2027F|
|6.1.4 Nigeria Air Conditioner Market Revenues & Volume, By Ducted Air Conditioner, 2017 - 2027F|
|6.1.5 Nigeria Air Conditioner Market Revenues & Volume, By Ductless Air Conditioner, 2017 - 2027F|
|6.1.6 Nigeria Air Conditioner Market Revenues & Volume, By Centralized Air Conditioner, 2017 - 2027F|
|6.2 Nigeria Air Conditioner Market, By Application|
|6.2.1 Overview and Analysis|
|6.2.2 Nigeria Air Conditioner Market Revenues & Volume, By Residential, 2017 - 2027F|
|6.2.3 Nigeria Air Conditioner Market Revenues & Volume, By Healthcare, 2017 - 2027F|
|6.2.4 Nigeria Air Conditioner Market Revenues & Volume, By Commercial & Retail, 2017 - 2027F|
|6.2.5 Nigeria Air Conditioner Market Revenues & Volume, By Transportation & Infrastructure, 2017 - 2027F|
|6.2.6 Nigeria Air Conditioner Market Revenues & Volume, By Hospitality, 2017 - 2027F|
|6.2.7 Nigeria Air Conditioner Market Revenues & Volume, By Others, 2017 - 2027F|
|7 Nigeria Air Conditioner Market Import-Export Trade Statistics|
|7.1 Nigeria Air Conditioner Market Export to Major Countries|
|7.2 Nigeria Air Conditioner Market Imports from Major Countries|
|8 Nigeria Air Conditioner Market Key Performance Indicators|
|9 Nigeria Air Conditioner Market - Opportunity Assessment|
|9.1 Nigeria Air Conditioner Market Opportunity Assessment, By Type, 2020 & 2027F|
|9.2 Nigeria Air Conditioner Market Opportunity Assessment, By Application, 2020 & 2027F|
|10 Nigeria Air Conditioner Market - Competitive Landscape|
|10.1 Nigeria Air Conditioner Market Revenue Share, By Companies, 2020|
|10.2 Nigeria Air Conditioner Market Competitive Benchmarking, By Operating and Technical Parameters|
|11 Company Profiles|