LONDON - Global investors have recently started to pour significant amounts of money into the African region. Such countries as Kenya, South Africa, Egypt, Morocco and Nigeria are key propellers of the regional market growth.
Nigeria enjoys sustained economic growth of approximately 7 percent given rapid growth of oil and non-oil sectors. Increasing public and private investments drive growth of the real estate marketplace.
Expanding population (with higher income) in urban areas, growing investments and government initiatives aimed at improving the country's economy are some of major factors spurring growth of the air conditioner marketplace in Nigeria.
Air conditioners are especially popular in the southern region, with Lagos encouraging the demand growth in this region.
The market demonstrated a decline in 2015 given unfavorable economic situation and declining prices for oil.
The local market for air conditioners is expected to grow at a CAGR of 7.2 percent over the period 2016-2022 due to anticipated growth of the Nigerian economy.
New research report "Nigeria Air Conditioner Market (2016-2022): Market Forecast by AC Types, Applications and Regions (Northern Region and Southern Region)" prepared by 6Wresearch offers a comprehensive discussion of the Nigerian market for air conditioners. The study comprises an all-inclusive overview of the world's market. It contains a bird's eye view of the Nigerian marketplace. The report insightfully analyzes market dynamics and limelights market trends. The research study examines the market by product types and applications. It delves deep into regional markets' performance and explores the competitive landscape. The research report profiles top players and gives detailed market forecasts.
Companies mentioned in the study include: Panasonic Corporation, Trane Inc., Carrier Corporation, Qingdao Haier Co., and more.
Media Source: Market Publishers