Nigeria Building Energy Management System Market (2020-2026) | Trends, Forecast, Analysis, Outlook, Size, Value, Revenue, Share, Growth, Industry, Segmentation & COVID-19 IMPACT

Nigeria Building Energy Management Systems Market | Country-Wise Share and Competition Analysis

In the year 2021, China was the largest exporter in terms of value, followed by China, and Hong Kong SAR. It has registered a decline of -8.23% over the previous year. While China, Hong Kong SAR registered a decline of -70.16% as compared to the previous year. In the year 2017, China was the largest exporter followed by Germany. In terms of the Herfindahl Index, which measures the competitiveness of countries exporting, Nigeria has a Herfindahl index of 1214 in 2017 which signifies high competitiveness also in 2021 it registered a Herfindahl index of  5692 which signifies high concentration in the market.

Nigeria Building Energy Management Systems Market - Export Market Opportunities

Topics Covered in the Nigeria Building Energy Management System Market

The Nigeria Building Energy Management System Market report thoroughly covers the market by components & services, by technology, by end users, 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.

Latest (2023) Development of the Nigeria Building Energy Management System Market

Nigeria Building Energy Management System Market has witnessed promising growth in recent and in upcoming years owing to a rising focus on sustainable and energy-efficient buildings. Additionally, The government's initiatives to promote green building in the country with the purpose to reduce carbon emission rates, this practice has been playing a vital role in bolstering the demand for building energy management systems and is estimated to leave a positive impact on the market growth. Also, rising investment in technological advancements integrated with smart sensors for effective monitoring and managing energy consumption will lead to reducing costs while decreasing overall bad impact on the environment and is likely to secure considerable growth for the Nigeria Building Energy Management System industry during the forecast period.

Nigeria Building Energy Management System Market Synopsis

Nigeria Building Energy Management System Market has witnessed sluggish growth due to a slowdown in the economy in the construction sector of the country. However, the increasing foreign direct investment, reducing costs by conserving energy, and increasing awareness regarding energy efficiency products are the key factors supporting the growth of the building energy management system market in Nigeria Moreover,  the rising demand for power, growing need for energy for effective utilization and increasing electricity prices are boosting the demand for the building energy management system market in the country.

According to 6wresearch, the Nigeria Building Energy Management System Market size is anticipated to witness substantial growth during 2020-2026. The market has been growing with the rising adoption of BEMS by the commercial sector which includes, shopping malls, retail outlets, and office buildings to control energy wastage leading to reduced energy costs. Additionally, the rising concern of climate change has bolstered the BEMS need to optimize energy use and leads to a decline in GHG levels this is estimated to leave a favorable impact on the Building Energy Management System Market in Nigeria. Moreover, rising awareness among consumers and building owners about the BEMS benefits that offer remote control, energy efficiency, and better optimization capabilities is projected to be one of the great opportunities that will open up new growth corridors for the market.

COVID-19 Impact on the Nigeria Building Energy Management System Market

COVID-19 adversely impacted the Nigeria Building Energy Management System Market growth. During the pandemic phase demand for BEMs were slightly high due to various factors such as the increased need for quality air indoors led to require adequate ventilation & filtration, and increased focus on energy efficiency practice as people staying home using systems due to work-from-home resulted in an increased need to reduce energy cost, this had resulted in increased demand for BEMS. On the other hand, several pandemic measures such as trade restrictions, and disrupted product & raw material supply led to affect the product supply and slow down the availability of BEMS led to affecting the market growth.

Key player in the Nigeria Building Energy Management System Market

Some key players in the market have emerged with their strong existence by offering a spectrum range of energy management systems in the country including:

• Johnson Controls has been dealing with and offering a top-notch range of energy management services and solutions in the country at a competitive price.
• Schneider Electric is another leading player in the country offering an excellent range of smart building technologies including, building energy management systems.
• Honeywell International is a well-known player throughout the country with a strong market presence in the country, it provides a comprehensive range of products including integrated controls, HVAC systems as well as fire safety solutions.
• Siemens AG is the next well-renowned company in the country that facilitates a wide range of unique featured smart building solutions, which include, building energy management systems.

Market Analysis by Components & Service

Based on the Components & Service, each component and service in the market drives the demand for BEMS, the growth, and demand depend on various growth factors such as market demand, technological advancements, and the rising emphasis on energy efficiency.

Market Analysis by Technology

According to Dhaval, Research Manager, 6Wresearch, both technologies are being adopted in the country and the demand is influenced by various factors such as building infrastructure & scalability requirements and cost factors.

Market Analysis by Applications

Based on the applications, each application is driving the demand for BEMS as the growing industrial expansion proliferating the use of energy-consuming equipment in offices, houses, and public places. Hence, each application is gaining momentum, also the leading applications depend on the energy consumption pattern.

Key attractiveness of the report

• COVID-19 Impact on the Market.
• 10 Years Market Numbers.
• Historical Data Starting from 2016 to 2019.
• Base Year: 2019.
• Forecast Data until 2026.
• Key Performance Indicators Impacting the Market.
• Major Upcoming Developments and Projects

Key Highlights of the Report:

• Nigeria Building Energy Management System Market Overview
• Nigeria Building Energy Management System Market Outlook
• Nigeria Building Energy Management System Market Forecast
• Historical Data of Nigeria Building Energy Management System Market Revenues for the Period 2016-2026
• Nigeria Building Energy Management System Market Size and Forecast of Revenues, Until 2026
• Historical Data of Nigeria Building Energy Management System Market Revenues, by Components and Services, for the Period 2016-2026
• Market Size & Forecast of Nigeria Building Energy Management System Market Revenues, by Components and Services, until 2026
• Historical Data of Nigeria Building Energy Management System Market Revenues, by Technology, for the Period 2016-2026
• Market Size & Forecast of Nigeria Building Energy Management System Market Revenues, by Technology, until 2026
• Historical Data of Nigeria Building Energy Management System Market Revenues, by End-User, for the Period 2016-2026
• Market Size & Forecast of Nigeria Building Energy Management System Market Revenues, by End-User, until 2026
• Historical Data of Nigeria Building Energy Management System Market Revenues, by Application, for the Period 2016-2026
• Market Size & Forecast of Nigeria Building Energy Management System Market Revenues, by Application, until 2026
• Market Drivers and Restraints
• Nigeria Building Energy Management System Market Trends
• Market Opportunity Assessment
• Nigeria Building Energy Management System Market Share, By Players
• Nigeria Building Energy Management System Market Overview on Competitive Benchmarking
• Company Profiles
• Key Strategic Recommendations

Markets Covered

The Nigeria Building Energy Management System market report provides a detailed analysis of the following market segments:

By Components & Services

• Hardware
  • Sensors
  • Controllers
  • Actuators
  • Others
• Software
• Services

By Technology

• Wired
• Wireless

By End Users

• Residential
• Commercial
• Industrial

By Applications

• Space Heating
• Computers & Office Equipment
• Lighting
• Air Conditioners
• Others

Nigeria Building Energy Management System Market: FAQs