Nigeria Wires & Cables Market (2020-2026) | Revenue, Size, Analysis, Forecast, Companies, Trends, Outlook, Share, Industry, Growth, Value & COVID-19 IMPACT

Nigeria Wires and Cables Market | Country-Wise Share and Competition Analysis

In the year 2021, China was the largest exporter in terms of value, followed by India. It has registered a growth of 22.52% over the previous year. While India registered a growth of 726.94% as compared to the previous year. In the year 2017, China was the largest exporter followed by the UK. In terms of the Herfindahl Index, which measures the competitiveness of countries exporting, Nigeria has a Herfindahl index of 1579 in 2017 which signifies moderately concentrated also in 2021 it registered a Herfindahl index of  3108 which signifies high concentration in the market.

The latest development (2023) of the Nigeria Wires & Cables Market 

Nigeria Wires & Cables Market is witnessing significant development.  There is various development that is taking place in the market. The significant demand from the construction, power, and telecommunications sectors has led to the latest development in the market. The most significant development is the immense investment by the government of Nigeria. The government has announced various policies to promote the local producers of the wires and cables and it is expected to create various opportunities for the manufacturers. The telecommunication sector is remarkably growing in the country and it is expected that it will fuel the demand for wires & cables. These latest developments have shown that the future of the market is bright and strong.

Nigeria Wires & Cables Market is projected to grow over the coming year. Nigeria Wires & Cables Market report is a part of our periodical regional publication Africa Wires & Cables Market outlook report. 6W tracks the Wires & Cables market for over 60 countries with individual country-wise market opportunity assessments and publishes with the report titled Global Wires & Cables Market outlook report annually.

Topics Covered in Nigeria Wires & Cables Market Report

Nigeria Wires & Cables Market report thoroughly covers the market by voltage, installation and end user. The 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 Wires & Cables Market Synopsis

Nigeria Wires & Cables Market is expected to grow in the forecast year mainly due to a surging population coupled with rising disposable income. Rising investment in the transmission and distribution sector is proliferating market growth.

According to 6Wresearch, Nigeria Wires & Cables Market size is projected to register growth during 2020-2026. The key reason for the growth of the market is an increase in Urbanization and Population Growth. The rapid urbanization and population growth in the country has led to an increased need for electrical infrastructure and connectivity. The various government policies and Investments to improve the generation of power, distribution, and overall energy infrastructure have played a remarkable role in stimulating the wires and cables market. Nigeria is witnessing rapid development in infrastructure, including residential and commercial construction, power transmission projects, telecommunications expansion, and industrial facilities. This factor has overall increased demand for wires and cables for electrical connections and communication networks. There are certain challenges in the market. The economic and political uncertainties in the country have affected investment decisions and project implementations. This has emerged as a major challenge in the market. There is stiff competition from the local and international manufacturers in the market and it has led to intense competition. This has put downward pressure on the prices and the profit margins have decreased for the manufacturers.

COVID-19 Impact on Nigeria Wires & Cables Market

The outbreak of the pandemic in early 2020 had a major effect on the Nigeria wires and cables Industry.  The country implemented strict lockdown measures and travel restrictions to curb the spread of the virus. These measures disturbed the entire supply chain and affected all aspects of the business. There was a delay in the construction projects and the market witnessed a downturn as there was a slowdown of construction activities. The pandemic also presented new opportunities. The sudden shift to remote work culture and increased dependence on digital communication led to a rise in demand for telecommunications cables and data infrastructure. Government policies and packages also played a crucial role in shaping the market recovery from the impacts of the pandemic and it led to the slight increase in Nigeria Wires & Cables Market Growth after the pandemic subsided.

Nigeria Wires & Cables Market: Key players

• Nexans Kabelmetal Nigeria Plc
• Coleman Technical Industries Limited
• Cutix Plc
• Nigeria Wire and Cable Plc
• Kabelmetal Electro Limited
• Ducab Nigeria Limited
• Taihan Electric Wire Co., Ltd.
• African Cables (Nigeria) Limited
• Universal Cable (M) Berhad

These are the major players in the country who are changing the dynamics of the market by catering to the various needs of the consumers.

Market by Voltage

Based on voltage, the Wires & Cables Market in Nigeria is segmented into Low Voltage, Medium Voltage, High Voltage, and Extra-High Voltage. The low voltage Wires & Cables are expected to dominate the market due to their major use in residential buildings, small businesses, and low-power industrial applications

Market by Installation

According to Dhaval, Research Head, 6Wresearch, the overhead installation will have a major share in the market due to ease of installation and lower cost.

Market by End-user

Based on End users, the building and construction will remarkably grow in the forecast year on account of increasing urbanisation and this factor will contribute towards the rise in Nigeria Wires & Cables Market Share.

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 Wires & Cables Market Outlook
• Market Size of Nigeria Wires & Cables Market, 2019
• Forecast of Nigeria Wires & Cables Market, 2026
• Historical Data and Forecast of Nigeria Wires & Cables Revenues & Volume for the Period 2016 - 2026
• Nigeria Wires & Cables Market Trend Evolution
• Nigeria Wires & Cables Market Drivers and Challenges
• Nigeria Wires & Cables Price Trends
• Nigeria Wires & Cables Porter's Five Forces
• Nigeria Wires & Cables Industry Life Cycle
• Historical Data and Forecast of Nigeria Wires & Cables Market Revenues & Volume By Voltage for the Period 2016 - 2026
• Historical Data and Forecast of Nigeria Wires & Cables Market Revenues & Volume By Low Voltage for the Period 2016 - 2026
• Historical Data and Forecast of Nigeria Wires & Cables Market Revenues & Volume By Medium Voltage for the Period 2016 - 2026
• Historical Data and Forecast of Nigeria Wires & Cables Market Revenues & Volume By High Voltage for the Period 2016 - 2026
• Historical Data and Forecast of Nigeria Wires & Cables Market Revenues & Volume By Extra-High Voltage for the Period 2016 - 2026
• Historical Data and Forecast of Nigeria Wires & Cables Market Revenues & Volume By Installation for the Period 2016 - 2026
• Historical Data and Forecast of Nigeria Wires & Cables Market Revenues & Volume By Overhead for the Period 2016 - 2026
• Historical Data and Forecast of Nigeria Wires & Cables Market Revenues & Volume By Underground for the Period 2016 - 2026
• Historical Data and Forecast of Nigeria Wires & Cables Market Revenues & Volume By End-users for the Period 2016 - 2026
• Historical Data and Forecast of Nigeria Wires & Cables Market Revenues & Volume By Aerospace & Defense for the Period 2016 - 2026
• Historical Data and Forecast of Nigeria Wires & Cables Market Revenues & Volume By Building & Construction for the Period 2016 - 2026
• Historical Data and Forecast of Nigeria Wires & Cables Market Revenues & Volume By Oil & Gas for the Period 2016 - 2026
• Historical Data and Forecast of Nigeria Wires & Cables Market Revenues & Volume By Energy & Power for the Period 2016 - 2026
• Historical Data and Forecast of Nigeria Wires & Cables Market Revenues & Volume By IT & Telecommunication for the Period 2016 - 2026
• Historical Data and Forecast of Nigeria Wires & Cables Market Revenues & Volume By Others for the Period 2016 - 2026
• Nigeria Wires & Cables Import Export Trade Statistics
• Market Opportunity Assessment By Voltage
• Market Opportunity Assessment By Installation
• Market Opportunity Assessment By End-users
• Nigeria Wires & Cables Top Companies Market Share
• Nigeria Wires & Cables Competitive Benchmarking By Technical and Operational Parameters
• Nigeria Wires & Cables Company Profiles
• Nigeria Wires & Cables Key Strategic Recommendations

Market Scope and Segmentation

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

By Voltage

• Low Voltage
• Medium Voltage
• High Voltage
• Extra-High Voltage

By Installation

• Overhead
• Underground

By End-users

• Aerospace & Defence
• Building & Construction
• Oil & Gas
• Energy & Power
• IT & Telecommunication
• Others