Nigeria Genset Market report thoroughly covers the market by kVA rating, applications, and regions. Nigeria genset 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 Genset Market Synopsis
Nigeria genset market revenues declined in 2020 as a result of the ongoing COVID-19 pandemic, which halted economic, building, and industrial activity throughout the country. Logistics disruptions and trade restrictions have resulted in a decrease volume of imported diesel gensets in the country, which has had a significant impact on the Nigerian genset industry. However, an upsurge in construction activities, infrastructure development and industrial sector under the ambit of Nigeria’s “Vision 2030” programme is anticipated to boost the genset market in the upcoming years. Government infrastructural development projects such as Lagos light rail, World trade centre, Lekki free trade zone, Eko-Atlantic city and many more would act as catalysts for the overall growth of the genset market in Nigeria. Further, the government of Nigeria recently created a $2.7bn Infrastructural Corporation of Nigeria Limited for its infrastructural development which would further create demand for gensets in the forecasted period.
According to 6Wresearch, Nigeria Genset Market size is projected to grow at a CAGR of 5.9% during 2021-2027. In Nigeria, 5-75 kVA diesel gensets dominated the diesel genset market in 2020 in terms of volume on account of rising demand in residential, small manufacturing units, hospitality and telecom sector. For instance, government focus to achieve 90% broadband connectivity by 2025 through deployment of telecom towers is anticipated to drive the diesel genset market in the forthcoming. Above 1000 kVA accounted for the majority of revenue share in the diesel genset market in 2020 due to increased demand across sectors such as industrial and construction sector. Additionally, with only one-third capacity meeting estimated demand from the grid, frequent transmission losses in gridlines has led to increased reliance of these sectors on diesel gensets as their power backup. 5-75 kVA rated gas genset had the highest volume share in 2020 owing to their large-scale use in residential and telecom sector whereas, in terms of revenue. Above 1000 kVA rated gas gensets comprised the highest revenue share attributed to growing usage in industrial, power and energy and oil and gas sector. About 100 oil and gas projects set to start between 2021-2025 which is likely to open up more growth opportunities in the forecast period.
Market by Application Analysis
The power and energy sector dominated the gas genset market in 2020 as a result of increased investments made by the government to diversify its power and energy sector by using gas for its power sector, launching hydroelectric electric projects, and constructing gas pipelines. Further, the Nigerian government is taking a proactive approach to make Nigeria a light manufacturing hub in Africa by promoting domestic manufacturing and is securing $22 billion for key infrastructure projects.
Market by Region Analysis
By Region, South-West region dominates the genset market of Nigeria in 2020 as it is the most populous and industrialized region with about 70-80% manufacturing units functioning in the area. Government investments in current megaprojects in the region, notably US $11 billion Lagos-Calabar Railway, the US $5.8 billion Mambilla Hydroelectric Power Project, and the Abuja Gateway Airport, would aid the south-west region to continue its dominance in the coming years.
Key Attractiveness of the Report
- COVID-19 Impact on the Market.
- 10 Years Market Numbers.
- Historical Data Starting from 2017 to 2020.
- Base Year: 2020
- Forecast Data until 2027.
- Key Performance Indicators Impacting the Market.
- Major Upcoming Developments and Projects.
Key Highlights of the Report:
- Nigeria Genset Market Outlook
- Nigeria Genset Market Forecast
- Nigeria Genset Market Growth
- Nigeria Genset Market Share
- Historical Data and Forecast of Nigeria Genset Market Revenues and Volume for the Period 2017-2027F
- Historical Data and Forecast of Nigeria Diesel Genset Market Revenues and Volume, By kVA Ratings for the Period 2017-2027F
- Historical Data and Forecast of Nigeria Gas Genset Market Revenues and Volume, By kVA Ratings for the Period 2017-2027F
- Historical Data and Forecast of Nigeria Diesel Genset Market Revenues, By Applications for the Period 2017-2027F
- Historical Data and Forecast of Nigeria Gas Genset Market Revenues, By Applications for the Period 2017-2027F
- Historical Data and Forecast of Nigeria Genset Market Revenues, By Regions for the Period 2017-2027F
- Nigeria Diesel Genset Market Price Trend Analysis
- Nigeria Gas Genset Market Price Trend Analysis
- Nigeria Genset Aftermarket Analysis
- Nigeria Genset Market Import Statistics
- Nigeria Genset Market Analysis of Key Service Set-ups
- Nigeria Genset Market Analysis of Key Assemblers
- Nigeria Genset Market Analysis of Key Manufactures
- Nigeria Genset Market - Government Initiatives, Regulations and Tax Structure
- Nigeria Genset Market - Identification of Keyways Followed by OEM
- Nigeria Diesel Genset Market - Key OEM Wise Selling Price Analysis, kVA Rating, 2020
- Nigeria Gas Genset Market - Key OEM Wise Selling Price Analysis, kVA Rating, 2020
- Market Drivers, Restraints
- Nigeria Genset Market Trends
- Industry Life Cycle
- Nigeria Genset Market – Porter’s Five Forces
- Market Opportunity Assessment
- Company Shares
- Market Competitive Benchmarking
- Company Profiles
- Key Strategic Recommendations
Market Scope and Segmentation
The report provides a detailed analysis of the following market segments:
- By Types
- Diesel
- By Power ratings
- 5-75 kVA
- 1-375 kVA
- 1-750 kVA
- 1-1000 kVA
- Above 1000 kVA
- By Applications
- Residential
- Commercial
- Industrial
- Transportation and Public Infrastructure
- Telecom
- By Power ratings
- Gas
- By Power ratings
- Upto 100 kVA
- 1-375 kVA
- 1-1000 kVA
- Above 1000 kVA
- By Applications
- Residential
- Commercial
- Industrial
- Power and Energy
- Others (Telecom and Government)
- By Power ratings
- Diesel
- By Regions
- North West Region
- North-East Region
- North Central Region
- South West Region
- South East Region
- South-South Region
