Nigeria Diesel Genset Market (2019-2025) | Size, Share, Growth, Trend, Analysis, Forecast, Revenue & Outlook

Latest 2023 Development of the Nigeria Diesel Genset Market

Nigeria Diesel Genset Market has been witnessing immense growth in recent years. The market has also undergone several latest developments which include government initiatives to promote clean energy sources like wind, solar, and hydroelectric power which has led to a decrease in demand for diesel gensets. Nevertheless, diesel gensets are still widely used as backup power sources in remote areas. Additionally, the government is actively promoting private sector investment in the country's power sector and there are several independent power projects initiated in recent years. In general, diesel gensets are used as backup power sources in these projects. Moreover, rapid urbanization has led to an increase in demand for diesel gensets as power backup sources as power outages are common, particularly in urban areas.

The growing telecommunications sector of Nigeria is also contributing to the demand for diesel gensets as they are being used to provide backup power to telecom towers and data centres. Apart from this, there are several growth factors contributing to the Nigeria Diesel Genset Market Growth. For instance, the growth of the manufacturing, telecommunications, and construction industries has led to an increased demand for power. Moreover, an increase in oil and gas exploration activities is expected to fuel the industry's growth in the forthcoming years. 

Nigeria Diesel Genset Market Synopsis

Nigeria Diesel Genset market is a part of the Africa Diesel Genset Market report that thoroughly covers the Nigeria diesel Genset market by kVA rating and applications. The Nigeria diesel Genset market outlook report provides an unbiased and detailed analysis of the Nigerian diesel Genset market trends, opportunities/high growth areas, and market drivers, which would help the stakeholders to device and align market strategies according to the current and future market dynamics.

Nigeria Diesel Genset Market is anticipated to witness healthy growth during 2019-2025 as there is a lack of robust power infrastructure in the country and the existing power plants are operating at only one-third of their potential capacity. Thus, the demand for Diesel Gensets as an auxiliary power resource is expected to stay afloat over the coming years. Surging disposable income and rising need for regular and uninterruptible power supply are driving the Nigeria Diesel Genset Market Growth. Increasing loss of power transmission coupled with a lack of power infrastructure is driving the development of the industry.  

According to 6Wresearch, the Nigeria Diesel Genset Market size is projected to grow at a CAGR of 2.8% during 2019-2025.  The rising usage of diesel generators in various industries such as oil and mining is accelerating the Nigeria Diesel Genset Market Share. Stringent regulations by the government in order to reduce carbon emissions are likely to hamper the development of the market. Rising disposable income coupled with increasing urbanization and rising development of infrastructure is driving the Nigeria Diesel Genset Market Growth. Moreover, the increasing number of data centres along with the growing need for regular and uninterrupted power supply is accelerating the demand for diesel Genset in Nigeria. The rising risk of power outages especially in remote areas is adding to the Nigeria Diesel Genset Market Share.  

Market Analysis by Application

Based on application, the industrial sector accounted for the major share in Nigeria and Global Diesel Genset Market and is expected to maintain its dominance during the forecast period as well on account of the efficient power supply required to support the industry power need and the underdeveloped power infrastructure in Nigeria. Generators are widely used in industries in order to ensure a regular supply of electricity during power failure. 

Market Analysis by kVA Ratings

In Nigeria, diesel Gensets with a rating of 375.1-750 kVA accounted for the majority of the revenue share. However, diesel Gensets in the 5-75 kVA range would continue to dominate the market in volume terms during the forecast period due to their widespread use in the residential, telecom, and banking sectors. The growing demand for such Gensets in residential buildings, small industries, and telecom sectors is further proliferating the development of the market. 

Key Players in the market

Some of the key players in the Nigeria Diesel Genset Market are:

• Denya Co. Ltd.
• Cummins Inc. 
• YorPower Ltd. 
• Caterpillar Inc.
• Jubaili Bros. 
• General Electric Company
• Kirloskar Oil Engines Limited

Key Highlights of the Report:

• Nigeria Diesel Genset Market Overview
• Nigeria Diesel Genset Market Outlook
• Nigeria Diesel Genset Market Forecast
• Nigeria Diesel Genset Market Size
• Nigeria Diesel Genset Market Share, by kVA rating
• Nigeria Diesel Genset Market Forecast of revenues until 2025
• Historical Data of Nigeria Diesel Genset Market Revenues and Volume for the Period 2015-2018
• Market Size & Forecast of Nigeria Diesel Genset Market Revenues and Volume until 2025
• Historical Data of Nigeria Diesel Genset Market Revenues & Volume, by kVA Rating for the Period 2015-2018
• Market Size & Forecast of Nigeria Diesel Genset Market Revenues & Volume, by kVA Rating until 2025
• Historical Data of Nigeria Diesel Genset Market Revenues, By Applications for the Period 2015-2018
• Market Size & Forecast of Nigeria Diesel Genset Market Revenues, By Applications until 2025
• Nigeria Diesel Genset Market Price Trends
• Nigeria Diesel Gensets Market Drivers and Restraints
• Nigeria Diesel Genset Market Trends
• Nigeria Diesel Genset Market Share, By Companies
• Nigeria Diesel Genset Market Overview on Competitive Benchmarking
• Company Profiles
• Strategic Recommendations

Nigeria Diesel Genset Market Report Covered:

The Nigeria diesel Genset market report provides a detailed analysis of the following market segments:

By kVA Rating:

• 5.1- 75 kVA
• 75.1- 375 kVA
• 375.1- 750 kVA
• 750.1- 1000 kVA
• Above 1000 kVA

By Applications:

• Commercial
• Residential
• Industrial
• Transportation and Public Infrastructure

Nigeria Diesel Genset Market: FAQs