Nigeria Genset Rental Market (2020-2026) | Growth, Size, Industry, Share, Trends, Value, Outlook, Analysis, Segmentation & COVID-19 IMPACT

Market Forecast By Types (Diesel Genset Rental, Gas Genset Rental), By KVA Rating (Diesel Genset (Below 100 KVA, 100.1-350 KVA, 350.1-750 KVA, 750.1-1000 KVA, Above 1000 KVA), Gas Genset (Below 100 KVA, 100.1-375 KVA, 375.1-1000 KVA, Above 1000 KVA)), By Applications (Standby Genset Rental, Prime/ Continuous Genset Rental), By Prime Applications (Peak Load, Base Load), By Verticals (Utilities, Oil & Gas, Construction, Manufacturing, Quarrying & Mining, Commercial, Others (Agriculture, Municipal Work, And Events)) And Competitive Landscape

Product Code: ETC160025	Publication Date: Feb 2022	Updated Date: Jun 2023	Product Type: Market Research Report
Publisher: 6Wresearch	No. of Pages: 80	No. of Figures: 12	No. of Tables: 4

Latest (2023) Developments in the Nigeria Genset Rental Market

The Nigeria Genset Rental Market is constantly evolving, and it's essential to keep track of the latest developments in this industry. As we approach 2023, there are several exciting trends that are worth noting.

Firstly, we're seeing a growing demand for eco-friendly generators as people become more conscious of their environmental impact. This trend will likely continue into 2023 as businesses and individuals seek out greener power solutions.

Additionally, technology advancements have led to the development of smarter gensets that can be remotely monitored and controlled. This feature offers greater convenience and enhances user experience.

Another notable development is the rise of hybrid gensets which combine traditional fuel sources with renewable energy options such as solar panels or wind turbines. Hybrid generators offer increased efficiency and reduce operating costs over time while boosting sustainability efforts.

These new developments in the Nigeria genset rental market demonstrate a commitment towards innovation that aims to provide more efficient, cost-effective solutions without compromising on quality or reliability.

Topics Covered in the Nigeria Genset Rental Market

Nigeria Genset Rental Market report comprehensively covers the market by Types, KVA ratings, Applications, Prime Applications, and Verticals. The Nigeria Genset Rental market outlook report provides an unbiased and detailed analysis of the Nigeria Genset Rental 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 Rental Market Synopsis

In Nigeria, the power infrastructure and total installed capacity are not in line with the average per capita power consumption of the country. The current capacity meets only one-third of the estimated demand from the grid. This acute shortage of power supply has forced citizens to rely heavily on rental gensets for power backup, thus, the rental genset market revenues grew at a stable rate during the past years. However, Covid-19 pandemic had slowed down the market in terms of supply of the product during 2020. While on the other hand, the demand-side also fell victim to the slowdown due to the market being closed during the lockdown period. Currently, the market has recovered gradually and is likely to witness growth over the coming years.

Nigeria Genset Rental Market Outlook (2020-2026)

According to 6Wresearch, Nigeria Genset Rental Market size is expected to grow at a CAGR of 10.9% during 2020-2026. The market revenues would witness a decline in the year 2020 on account of the coronavirus outbreak. However, with government efforts to stabilize the economy, along with expected recovery in the oil & gas sector, the market revenues would start seeing a positive growth post-2020. Moreover, the market for rental gensets in Nigeria would also increase owing to growth in the manufacturing, public infrastructure, and telecom segments of the country during the forecast period.

Market Analysis By Types

The penetration of gas gensets in Nigeria is quite low as compared to diesel gensets on account of several factors such as easy and cheap diesel availability. Further, diesel gensets provide higher efficiency and takes less ignition time as compared to gas gensets. Thus, the aforementioned factors would help diesel genset segment to retain its dominance over the coming years as well.

Nigeria Genset Rental Market Outlook (2020-2026)

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 Genset Rental Market Overview
Nigeria Genset Rental Market Outlook
Nigeria Genset Rental Market Forecast
Historical data & Forecast of Nigeria Genset Rental Market Revenues for the Period 2016-2026F
Historical data & Forecast of Nigeria Genset Rental Market Revenues, By Types, for the Period 2016-2026F
Historical data & Forecast of Nigeria Genset Rental Market Revenues, By kVA Rating, for the Period 2016-2026F
Historical data & Forecast of Nigeria Genset Rental Market Revenues, By Applications, for the Period 2016-2026F
Historical data & Forecast of Nigeria Genset Rental Market Revenues, By Prime Applications, for the Period 2016-2026F
Historical data & Forecast of Nigeria Genset Rental Market Revenues, By Verticals, for the Period 2016-2026F
Nigeria Genset Rental Market Drivers and Restraints
Nigeria Genset Rental Market Trends and Industry Life Cycle
Porter’s Five Force Analysis
Nigeria Genset Rental Market Opportunity Assessment
Nigeria Genset Rental Market Player’s Revenue Shares
Market Competitive Benchmarking
Company Profiles
Key Strategic Recommendations