Nigeria Diesel Genset Market (2024-2030) | Size, Share, Growth, Trend, Analysis, Forecast, Revenue & Outlook

Topics Covered in the Nigeria Diesel Genset Market

Nigeria Diesel Genset Market report thoroughly covers the market by KVA rating and application. The 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 (Generator) Market Synopsis

Nigeria Diesel Genset Market is expected to gain momentum during the upcoming period. The increasing disposable income and growing urbanization is leading to the expansion of educational institutes, commercial offices and shopping complexes contributing to the growth of the market. The demand for diesel gensets in Nigeria is expected to continue growing in the short to medium term, given the current state of power generation. The industrial sector is the biggest user of diesel gensets, with a growing demand for small-scale industries. As the country continues to expand its manufacturing sector, the demand for reliable backup power supply will only increase. Furthermore, the increased need for remote power access, especially in off-grid locations, presents additional opportunities for the diesel genset market. The government's funding and investment in clean energy are expected to influence the market's growth trajectory positively.

According to 6Wresearch, Nigeria Diesel Genset (Generator) Market size is projected to grow at a CAGR of 3.7% during 2024-2030. Nigeria occupies 1st position in terms of the market size in the Africa Diesel Genset market. Various industries like construction are highly dependent upon regular power supply beholds the growth of the market. The lack of reliable and adequate power supply backed by regular power failure is further fuelling the growth of the market. Growth in refinery industry backed by increasing investment by foreign and domestic players is likely to propel the market. The market is also driven by the continuous technological progression in diesel genset. Moreover, substantial transmission loss coupled with deficiency of power base beholds the expansion of the market. There is significant demand of uninterrupted power supply from the healthcare, telecommunications and various other sectors. The electricity demand-supply gap in Nigeria has led to a surge in the demand for diesel generators. The diesel genset market is growing at a rapid pace, with the majority of the growth coming from small-scale industries, commercial buildings, and residential areas. The market's growth is attributed to the country's rising population and need for reliable power supply. Moreover, the downtime and high maintenance costs associated with the national power grid have pushed many businesses to rely on diesel gensets as their primary source of power. There are also certain challenges prevalent in the Nigeria Diesel Genset (Generator) Industry. The cost of these generators is one of the major challenges which persists in the market. The lack of trust is another major challenge. The quality and reliability become the major concern for the Nigerian population.

Government policies and schemes introduced in the Nigeria Diesel Genset (Generator) Market

The Nigerian government has been proactive in addressing the power crisis through a series of initiatives aimed at improving the country's electricity infrastructure and for the expansion of the Diesel Genset Market in Nigeria. One of such initiatives is the National Integrated Power Project (NIPP), which seeks to improve power generation and distribution capacity across the country. The NIPP has also put in place policies that promote the use of alternative power sources, such as diesel gensets, to provide an energy-efficient solution to the country's power challenges. Additionally, the government offers tax incentives and tariff reductions to businesses that invest in clean energy backup power systems, such as diesel gensets.

Nigeria Diesel Genset (Generator) Market: Key Players 

These are the notable players in the market who are producing and supplying the Genset (Generator) to various sectors like residential and commercial leading to an increase in Nigeria Diesel Genset (Generator) Market Share.

• Cummins Inc.
• Caterpillar Inc.
• FG Wilson (a subsidiary of Caterpillar)
• Perkins Engines Company Limited (a subsidiary of Caterpillar)
• Kohler Power Systems
• MTU Onsite Energy (a subsidiary of Rolls-Royce Power Systems AG)
• Kirloskar Oil Engines Limited
• Generac Power Systems
• Himoinsa Power Systems
• Jubaili Bros (a distributor for multiple generator brands)

Market by KVA

The 5kVA - 75kVA segment is expected to record significant growth due to the growing demand for power backup in homes and small businesses and it has led to remarkable rise in Nigeria Genset (Generator) Market Growth. As the country's population continues to grow, so does the demand for housing, creating more opportunities for this segment.

Market by Application

According to Dhaval, Research Manager, 6Wresearch, the industrial segment is likely to record significant growth due to the stable growth of the manufacturing sector and the increasing emphasis on local content. The industry requires uninterrupted power supply to run heavy machinery and equipment, and diesel gensets are a dependable source of backup power.

Key attractiveness of the report

• 10 Years Market Numbers.
• Historical Data Starting from 2020 to 2023.
• Base Year: 2023.
• Forecast Data until 2030.
• Key Performance Indicators Impacting the Market.
• Major Upcoming Developments and Projects.

Key Highlights of the Report:

• Nigeria Diesel Genset Market Outlook
• Market Size of Nigeria Diesel Genset Market, 2023
• Forecast of Nigeria Diesel Genset Market, 2030
• Historical Data and Forecast of Nigeria Diesel Genset Market Revenues & Volume for the Period 2020 - 2030
• Nigeria Diesel Genset Market Trend Evolution
• Nigeria Diesel Genset Market Drivers and Challenges
• Nigeria Diesel Genset Market Price Trends
• Nigeria Diesel Genset Market Porter's Five Forces
• Nigeria Diesel Genset Market Industry Life Cycle
• Historical Data and Forecast of Nigeria Diesel Genset Market Revenues and volume by KVA ratings for the Period 2020-2030
• Historical Data and Forecast of Nigeria Diesel Genset Market Revenues and Volume by 5 - 75 KVA for the Period 2020-2030
• Historical Data and Forecast of Nigeria Diesel Genset Market Revenues and volume by 75.1 - 375 KVA for the Period 2020-2030
• Historical Data and Forecast of Nigeria Diesel Genset Market Revenues and volume by 375.1 - 750 KVA for the Period 2020-2030
• Historical Data and Forecast of Nigeria Diesel Genset Market Revenues and volume by 750.1 - 1000 KVA for the Period 2020-2030
• Historical Data and Forecast of Nigeria Diesel Genset Market Revenues and volume by Above 1000 KVA for the Period 2020-2030
• Historical Data and Forecast of Nigeria Diesel Genset Market Revenues and volume by Application for the Period 2020-2030
• Historical Data and Forecast of Nigeria Diesel Genset Market Revenues and volume by Residential for the Period 2020-2030
• Historical Data and Forecast of Nigeria Diesel Genset Market Revenues and volume by Commercial for the Period 2020-2030
• Historical Data and Forecast of Nigeria Diesel Genset Market Revenues and volume by Industrial for the Period 2020-2030
• Historical Data and Forecast of Nigeria Diesel Genset Market Revenues and volume by Transportation and public Infrastructure for the Period 2020-2030
• Nigeria Diesel Genset Market Import Export Trade Statistics
• Market Opportunity Assessment by KVA ratings
• Market Opportunity Assessment by Application
• Nigeria Diesel Genset Market Top Companies Market Share
• Nigeria Diesel Genset Market Competitive Benchmarking by Technical and Operational Parameters
• Nigeria Diesel Genset Market Company Profiles
• Nigeria Diesel Genset Market Key Strategic Recommendation

Market Covered

The report offers a comprehensive study of the subsequent market segments:

Market by KVA

• 5 - 75 KVA,
• 75.1 - 375 KVA
• 375.1 - 750 KVA
• 750.1 - 1000 KVA
• Above 1000 KVA

Market by Application

• Residential
• Commercial
• Industrial
• Transportation & Public Infrastructure