| Product Code: ETC11852445 | Publication Date: Apr 2025 | Updated Date: Nov 2025 | Product Type: Market Research Report | |
| Publisher: 6Wresearch | No. of Pages: 65 | No. of Figures: 34 | No. of Tables: 19 | |
Despite a decline in the growth rate from 2023 to 2024, the market for electric water heaters in Nigeria continues to be dominated by imports from China, UK, Italy, Turkey, and India. The high Herfindahl-Hirschman Index (HHI) indicates a concentrated market, possibly leading to pricing power for these top exporting countries. The negative compound annual growth rate (CAGR) from 2020 to 2024 suggests a challenging environment, potentially impacted by various factors such as economic conditions and competition. It will be crucial for stakeholders to closely monitor market dynamics and adapt strategies to navigate this competitive landscape.

1 Executive Summary |
2 Introduction |
2.1 Key Highlights of the Report |
2.2 Report Description |
2.3 Market Scope & Segmentation |
2.4 Research Methodology |
2.5 Assumptions |
3 Nigeria Electric Water Heaters Market Overview |
3.1 Nigeria Country Macro Economic Indicators |
3.2 Nigeria Electric Water Heaters Market Revenues & Volume, 2021 & 2031F |
3.3 Nigeria Electric Water Heaters Market - Industry Life Cycle |
3.4 Nigeria Electric Water Heaters Market - Porter's Five Forces |
3.5 Nigeria Electric Water Heaters Market Revenues & Volume Share, By Heater Type, 2021 & 2031F |
3.6 Nigeria Electric Water Heaters Market Revenues & Volume Share, By Features, 2021 & 2031F |
3.7 Nigeria Electric Water Heaters Market Revenues & Volume Share, By Application, 2021 & 2031F |
3.8 Nigeria Electric Water Heaters Market Revenues & Volume Share, By End User, 2021 & 2031F |
3.9 Nigeria Electric Water Heaters Market Revenues & Volume Share, By Power Rating, 2021 & 2031F |
4 Nigeria Electric Water Heaters Market Dynamics |
4.1 Impact Analysis |
4.2 Market Drivers |
4.2.1 Increasing urbanization in Nigeria leading to higher demand for modern amenities like electric water heaters. |
4.2.2 Growing awareness about energy efficiency and environmental concerns driving the adoption of electric water heaters. |
4.2.3 Government initiatives promoting the use of electric water heaters as part of sustainable energy solutions. |
4.3 Market Restraints |
4.3.1 High initial cost of electric water heaters compared to traditional water heating methods. |
4.3.2 Inconsistent electricity supply in certain regions impacting the reliable operation of electric water heaters. |
4.3.3 Lack of widespread availability of skilled technicians for installation and maintenance of electric water heaters. |
5 Nigeria Electric Water Heaters Market Trends |
6 Nigeria Electric Water Heaters Market, By Types |
6.1 Nigeria Electric Water Heaters Market, By Heater Type |
6.1.1 Overview and Analysis |
6.1.2 Nigeria Electric Water Heaters Market Revenues & Volume, By Heater Type, 2021 - 2031F |
6.1.3 Nigeria Electric Water Heaters Market Revenues & Volume, By Storage Water Heater, 2021 - 2031F |
6.1.4 Nigeria Electric Water Heaters Market Revenues & Volume, By Instant Water Heater, 2021 - 2031F |
6.1.5 Nigeria Electric Water Heaters Market Revenues & Volume, By Solar Hybrid Water Heater, 2021 - 2031F |
6.1.6 Nigeria Electric Water Heaters Market Revenues & Volume, By Tankless Water Heater, 2021 - 2031F |
6.2 Nigeria Electric Water Heaters Market, By Features |
6.2.1 Overview and Analysis |
6.2.2 Nigeria Electric Water Heaters Market Revenues & Volume, By Large Capacity, 2021 - 2031F |
6.2.3 Nigeria Electric Water Heaters Market Revenues & Volume, By Fast Heating, 2021 - 2031F |
6.2.4 Nigeria Electric Water Heaters Market Revenues & Volume, By Energy Efficient, 2021 - 2031F |
6.2.5 Nigeria Electric Water Heaters Market Revenues & Volume, By Space-Saving, 2021 - 2031F |
6.3 Nigeria Electric Water Heaters Market, By Application |
6.3.1 Overview and Analysis |
6.3.2 Nigeria Electric Water Heaters Market Revenues & Volume, By Residential, 2021 - 2031F |
6.3.3 Nigeria Electric Water Heaters Market Revenues & Volume, By Commercial Use, 2021 - 2031F |
6.3.4 Nigeria Electric Water Heaters Market Revenues & Volume, By Off-Grid Locations, 2021 - 2031F |
6.3.5 Nigeria Electric Water Heaters Market Revenues & Volume, By Apartments, 2021 - 2031F |
6.4 Nigeria Electric Water Heaters Market, By End User |
6.4.1 Overview and Analysis |
6.4.2 Nigeria Electric Water Heaters Market Revenues & Volume, By Homeowners, 2021 - 2031F |
6.4.3 Nigeria Electric Water Heaters Market Revenues & Volume, By Hotels & Restaurants, 2021 - 2031F |
6.4.4 Nigeria Electric Water Heaters Market Revenues & Volume, By Rural Households, 2021 - 2031F |
6.4.5 Nigeria Electric Water Heaters Market Revenues & Volume, By Urban Dwellers, 2021 - 2031F |
6.5 Nigeria Electric Water Heaters Market, By Power Rating |
6.5.1 Overview and Analysis |
6.5.2 Nigeria Electric Water Heaters Market Revenues & Volume, By 1-5 kW, 2021 - 2031F |
6.5.3 Nigeria Electric Water Heaters Market Revenues & Volume, By 3-10 kW, 2021 - 2031F |
6.5.4 Nigeria Electric Water Heaters Market Revenues & Volume, By 5-20 kW, 2021 - 2031F |
6.5.5 Nigeria Electric Water Heaters Market Revenues & Volume, By 3-12 kW, 2021 - 2031F |
7 Nigeria Electric Water Heaters Market Import-Export Trade Statistics |
7.1 Nigeria Electric Water Heaters Market Export to Major Countries |
7.2 Nigeria Electric Water Heaters Market Imports from Major Countries |
8 Nigeria Electric Water Heaters Market Key Performance Indicators |
8.1 Average annual household income in Nigeria, indicating the purchasing power for electric water heaters. |
8.2 Number of new residential construction projects in urban areas, reflecting the potential demand for electric water heaters. |
8.3 Percentage of households with access to reliable electricity supply, influencing the feasibility of using electric water heaters. |
9 Nigeria Electric Water Heaters Market - Opportunity Assessment |
9.1 Nigeria Electric Water Heaters Market Opportunity Assessment, By Heater Type, 2021 & 2031F |
9.2 Nigeria Electric Water Heaters Market Opportunity Assessment, By Features, 2021 & 2031F |
9.3 Nigeria Electric Water Heaters Market Opportunity Assessment, By Application, 2021 & 2031F |
9.4 Nigeria Electric Water Heaters Market Opportunity Assessment, By End User, 2021 & 2031F |
9.5 Nigeria Electric Water Heaters Market Opportunity Assessment, By Power Rating, 2021 & 2031F |
10 Nigeria Electric Water Heaters Market - Competitive Landscape |
10.1 Nigeria Electric Water Heaters Market Revenue Share, By Companies, 2024 |
10.2 Nigeria Electric Water Heaters Market Competitive Benchmarking, By Operating and Technical Parameters |
11 Company Profiles |
12 Recommendations |
13 Disclaimer |