Nigeria Diesel Genset Market (2018-2024) | Forecast, Revenue, Growth, Share, Size, Outlook, Industry, Analysis, Trends, Value & Companies

Latest 2022 Developments:

Nigeria Diesel Genset Market is expected to increase modestly during the forecast period. A number of government projects, such as Vision 2025, the National Transport Master Plan 2050, and the National Development Plan 2030, aimed at improving and enhancing sectors such as manufacturing, commercial, and retail, would develop power backup equipment, resulting in the introduction of new technology for diesel generators in Nigeria. Hybrid generators are new-age generators that are fuel-efficient, less noisy, and are environment-friendly sources of power supply.

Mergers and Acquisition:

• In May 2019, Cummins Inc. and Isuzu Motors Ltd announced their partnership.

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The Nigeria diesel Genset market report thoroughly covers Nigeria Diesel Generator Market by kVA ratings, verticals, and regions. The Nigeria diesel Genset market outlook report provides an unbiased and detailed analysis of the Nigeria Diesel Genset market trends, opportunities/high growth areas, and market drivers, which would help the stakeholders device and align market strategies according to the current and future market dynamics.

Nigeria Diesel Genset (Generator) Market is anticipated to gain sound growth prospects in the coming time zone on the back of an increase in the growth of the power and distribution sector in the country with massive industrialization and increased privatization in the overall industrial landscape of the country. This market is gaining much popularity, although, at the present date, technological innovations are playing many roles in the growth and development of the grid structure and are leading to an increased installation of Gensets. On the other hand, high-speed internet connectivity and increased scope for massive industrialization are posing benefits in front of the data allocation, restoration, and safety encryption, which is, as a result, anticipated to be another growth proliferator for the Nigeria diesel Genset market to pose towards increased installation in colocation centers, and as a result, witness a substantial spur in the coming future. The rising developments in the aviation, healthcare, and government bodies steering the demand for reliable and uninterrupted power supply are further expected to boost the Nigeria Diesel Generator Market growth. Further, the falling battery prices of the UPS systems are expected to boost the growth of the product market in the near future. Moreover, with growth in the hospitality sector in the country, the product market would register potential growth in the coming years.

According to 6Wresearch, Nigeria diesel Genset market size is projected to grow at a CAGR of 2.8% during 2018-2024. Diesel Generators are the primary source for standby mobile networks at off-grid locations. Moreover, the rising adoption of low-cost mobile phones in the country on the back of upgrades in the telecom industry is expected to induce demand for diesel gensets in Nigeria. Moreover, rising inclination of the households as well as the industrialists toward uninterrupted electricity and rising concerns about unavoidable power outages. Moreover, the widespread involvement of global manufacturers in the diesel Genset market is also expected to trigger the growth of technically advanced diesel generators in Nigeria, further, assisting the Nigeria diesel Genset market growth during the forecast period. Rising electrification especially in rural areas is driving the Nigeria Diesel Generator Market Share.

Market Analysis by kVA Ratings

Diesel gen-sets with ratings 375.1-750 kVA accounted for the majority of the revenue share in 2017. 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. Nigeria is one of the most densely populated countries in Africa with a population of over 190 million. The country relies heavily on diesel gen-sets to meet the power demand. Due to a lack of robust power infrastructure and existing power plants working at only one-third of their potential capacity, the demand for diesel Gensets in the country as an auxiliary power resource is expected to stay afloat over the next six years.

Market Analysis by Region

Geographically, Northern Nigeria held the highest Nigeria diesel Genset market share. Even though most industries and major tourist destinations are situated in the Southern region of Nigeria, the Northern region, due to a large population and virtually no power generation capabilities are characterized by consumers prominently using diesel Gensets as a source of electricity. Nigeria Diesel Generator market is a large market it involves share, sale in the market. The diesel Genset has demand in the residential and commercial, hotels and having area of the low power also required the diesel. Economic Recovery and growth plan (ERGP) investments in the manufacturing of diesel Genset in the different sectors of the country.

Key Highlights of the Report:

• Nigeria Diesel Genset Market Overview
• Nigeria Diesel Genset Market Outlook
• Nigeria Diesel Genset Market Forecast
• Historical Data of Nigeria Diesel Genset Market Revenues and Volume for the Period 2014-2017.
• Nigeria Diesel Genset Market Size & Nigeria Diesel Genset Market Forecast until 2024.
• Historical Data of Nigeria Diesel Genset Market Revenues and Volume by kVA rating for the Period 2014-2017.
• Market Size & Forecast of Nigeria Diesel Genset Market Revenues and Volume by kVA rating for the
  Period 2018-2024F.
• Historical Data of Nigeria Diesel Genset Market Revenues and Volume by Verticals for the Period 2014-2017.
• Market Size & Forecast of Nigeria Diesel Genset Market Revenues and Volume by Verticals for the
  Period 2018-2024F.
• Historical Data of Nigeria Diesel Genset Market Revenues by Regions for the Period 2014-2017.
• Market Size & Forecast of Nigeria Diesel Genset Market Revenues by Regions for the Period 2018-2024F
• Nigeria Diesel Genset Market Trends and Opportunities
• Market Drivers and Restraints.
• Nigeria Diesel Genset Market Overview on Competitive Landscape
• Nigeria Diesel Genset Market Share, By Players
• Company Profiles.
• Strategic Recommendations.

Markets Covered

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

By kVA Ratings

• 5-75 kVA
• 75.1-375 kVA
• 375.1-750 kVA
• 750.1-1000 kVA
• Above 1000 kVA

By Verticals

• Residential
• Telecom
• Manufacturing
• Oil & Gas and Power Utility
• Commercial
• Retail & Logistics
• Others (Educational Building, Healthcare, etc.)

By Regions

• Northern
• Southern