Market Forecast 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) and Competitive Landscape.
Product Code: ETC001803 | Publication Date: Mar 2020 | Updated Date: Jun 2023 | Product Type: Report | |
Publisher: 6Wresearch | No. of Pages: 70 | No. of Figures: 3 | No. of Tables: 5 | |
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.
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.
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 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 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.
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:
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.
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.
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.
The Nigeria Building Energy Management System market report provides a detailed analysis of the following market segments:
1. Executive Summary |
2. Introduction |
2.1 Report Description |
2.2 Key Highlights |
2.3 Market Scope & Segmentation |
2.4 Research Methodology |
2.5 Assumptions |
3. Nigeria Building Energy Management System Market Overview |
3.1 Nigeria Building Energy Management System Market Revenues and Volume, 2016-2026F |
3.2 Nigeria Building Energy Management System Market Revenue Share, By Components & Services, 2019 & 2026F |
3.3 Nigeria Building Energy Management System Market Revenue Share, By Technology, 2019 & 2026F |
3.4 Nigeria Building Energy Management System Market Revenue Share, By End Users, 2019 & 2026F |
3.5 Nigeria Building Energy Management System Market Revenue Share, By Applications, 2019 & 2026F |
3.6 Nigeria Building Energy Management System Market - Industry Life Cycle |
3.7 Nigeria Building Energy Management System Market - Porter’s Five Forces |
4. Nigeria Building Energy Management System Market Dynamics |
4.1 Impact Analysis |
4.2 Market Drivers |
4.3 Market Restraints |
5. Nigeria Building Energy Management System Market Trends |
6. Nigeria Building Energy Management System Market Overview, by Components & Services |
6.1 Nigeria Hardware Building Energy Management System Market Revenues and Volume, 2016-2026F |
6.2 Nigeria Software Building Energy Management System Market Revenues and Volume, 2016-2026F |
6.3 Nigeria Services Building Energy Management System Market Revenues and Volume, 2016-2026F |
7. Nigeria Building Energy Management System Market Overview, by Technology |
7.1 Nigeria Building Energy Management System Market Revenue and Volumes, By Wired, 2016-2026F |
7.2 Nigeria Building Energy Management System Market Revenue and Volumes, By Wireless, 2016-2026F |
8. Nigeria Building Energy Management System Market Overview, by End User |
8.1 Nigeria Building Energy Management System Market Revenue and Volumes, By Residential, 2016-2026F |
8.2 Nigeria Building Energy Management System Market Revenue and Volumes, By Commercial, 2016-2026F |
8.3 Nigeria Building Energy Management System Market Revenue and Volumes, By Industrial, 2016-2026F |
9. Nigeria Building Energy Management System Market Overview, by Application |
9.1 Nigeria Building Energy Management System Market Revenue and Volumes, By Space Heating, 2016-2026F |
9.2 Nigeria Building Energy Management System Market Revenue and Volumes, By Computer & Office Equipment, 2016-2026F |
9.3 Nigeria Building Energy Management System Market Revenue and Volumes, By Lighting, 2016-2026F |
9.4 Nigeria Building Energy Management System Market Revenue and Volumes, By Air Conditioner, 2016-2026F |
9.5 Nigeria Building Energy Management System Market Revenue and Volumes, By Others, 2016-2026F |
10. Nigeria Building Energy Management System Market Key Performance Indicators |
11. Nigeria Building Energy Management System Market Opportunity Assessment |
11.1 Nigeria Building Energy Management System Market Opportunity Assessment, By Components & Services, 2026F |
11.2 Nigeria Building Energy Management System Market Opportunity Assessment, By Technology, 2026F |
11.3 Nigeria Building Energy Management System Market Opportunity Assessment, By End-user, 2026F |
11.4 Nigeria Building Energy Management System Market Opportunity Assessment, By Application, 2026F |
12. Nigeria Building Energy Management System Market Competitive Landscape |
12.1 Nigeria Building Energy Management System Market By Companies, 2019 |
12.2 Nigeria Building Energy Management System Market Competitive Benchmarking, By Operating Parameters |
13. Company Profiles |
14. Key Strategic Recommendations |
15 . Disclaimer |