Nigeria - Electric Water Heaters and Immersion Heaters - Market Analysis, Forecast, Size, Trends and Insights
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View PricingNigeria: Electric Water Heater Market 2024
Electric Water Heater Market Size in Nigeria
In 2022, after two years of decline, there was growth in the Nigerien electric water heater market, when its value increased by X% to $X. In general, consumption, however, posted a prominent increase. Over the period under review, the market hit record highs at $X in 2019; however, from 2020 to 2022, consumption stood at a somewhat lower figure.
Electric Water Heater Exports
Exports from Nigeria
Electric water heater exports from Nigeria skyrocketed to X units in 2022, jumping by X% compared with 2021 figures. Over the period under review, exports enjoyed a strong expansion. The most prominent rate of growth was recorded in 2014 when exports increased by X%. As a result, the exports reached the peak of X units. From 2015 to 2022, the growth of the exports remained at a lower figure.
In value terms, electric water heater exports soared to $X in 2022. Overall, exports posted a resilient expansion. The growth pace was the most rapid in 2014 when exports increased by X%. As a result, the exports attained the peak of $X. From 2015 to 2022, the growth of the exports remained at a somewhat lower figure.
Exports by Country
Niger (X units) was the main destination for electric water heater exports from Nigeria, with a X% share of total exports. Moreover, electric water heater exports to Niger exceeded the volume sent to the second major destination, Benin (X units), more than tenfold. Thailand (X units) ranked third in terms of total exports with a X% share.
From 2012 to 2022, the average annual rate of growth in terms of volume to Niger totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Benin (X% per year) and Thailand (X% per year).
In value terms, Niger ($X) emerged as the key foreign market for electric water heaters and immersion heaters exports from Nigeria, comprising X% of total exports. The second position in the ranking was taken by Benin ($X), with a X% share of total exports. It was followed by Thailand, with a X% share.
From 2012 to 2022, the average annual growth rate of value to Niger amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Benin (X% per year) and Thailand (X% per year).
Export Prices by Country
In 2022, the average electric water heater export price amounted to $X per unit, rising by X% against the previous year. Over the period under review, the export price enjoyed a pronounced expansion. The pace of growth was the most pronounced in 2021 when the average export price increased by X%. The export price peaked at $X per unit in 2019; however, from 2020 to 2022, the export prices stood at a somewhat lower figure.
Average prices varied noticeably for the major foreign markets. In 2022, amid the top suppliers, the highest price was recorded for prices to Sao Tome and Principe ($X per unit) and Thailand ($X per unit), while the average price for exports to Niger ($X per unit) and Benin ($X per unit) were amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Thailand (X%), while the prices for the other major destinations experienced more modest paces of growth.
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Electric Water Heater Imports
Imports into Nigeria
In 2022, overseas purchases of electric water heaters and immersion heaters decreased by X% to X units, falling for the third year in a row after two years of growth. In general, imports, however, continue to indicate prominent growth. The most prominent rate of growth was recorded in 2018 when imports increased by X% against the previous year. Imports peaked at X units in 2019; however, from 2020 to 2022, imports failed to regain momentum.
In value terms, electric water heater imports rose to $X in 2022. Over the period under review, imports, however, saw a buoyant expansion. The most prominent rate of growth was recorded in 2018 with an increase of X% against the previous year. Imports peaked at $X in 2019; however, from 2020 to 2022, imports failed to regain momentum.
Imports by Country
In 2022, China (X units) constituted the largest electric water heater supplier to Nigeria, with a X% share of total imports. Moreover, electric water heater imports from China exceeded the figures recorded by the second-largest supplier, Italy (X units), twofold.
From 2012 to 2022, the average annual rate of growth in terms of volume from China stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (X% per year) and the United Arab Emirates (X% per year).
In value terms, China ($X) constituted the largest supplier of electric water heaters and immersion heaters to Nigeria, comprising X% of total imports. The second position in the ranking was held by Italy ($X), with a X% share of total imports.
From 2012 to 2022, the average annual growth rate of value from China amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (X% per year) and the United Arab Emirates (X% per year).
Import Prices by Country
In 2022, the average electric water heater import price amounted to $X per unit, growing by X% against the previous year. Overall, the import price showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 when the average import price increased by X%. Over the period under review, average import prices attained the maximum in 2022 and is expected to retain growth in years to come.
Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was the United Arab Emirates ($X per unit), while the price for Italy ($X per unit) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (X%), while the prices for the other major suppliers experienced mixed trend patterns.
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Frequently Asked Questions (FAQ) :
This report provides an in-depth analysis of the electric water heater market in Nigeria. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.
Product coverage:
- Prodcom 27512530 - Electric instantaneous water heaters
- Prodcom 27512550 -
- Prodcom 27512570 -
- Prodcom 27512560 - Electric water heaters and immersion heaters (excluding instantaneous water heaters)
Country coverage:
- Nigeria
Data coverage:
- Market volume and value
- Per Capita consumption
- Forecast of the market dynamics in the medium term
- Trade (exports and imports) in Nigeria
- Export and import prices
- Market trends, drivers and restraints
- Key market players and their profiles
Reasons to buy this report:
- Take advantage of the latest data
- Find deeper insights into current market developments
- Discover vital success factors affecting the market
This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.
In this report, you can find information that helps you to make informed decisions on the following issues:
- How to diversify your business and benefit from new market opportunities
- How to load your idle production capacity
- How to boost your sales on overseas markets
- How to increase your profit margins
- How to make your supply chain more sustainable
- How to reduce your production and supply chain costs
- How to outsource production to other countries
- How to prepare your business for global expansion
While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.
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1. INTRODUCTION
Making Data-Driven Decisions to Grow Your Business
- REPORT DESCRIPTION
- RESEARCH METHODOLOGY AND AI PLATFORM
- DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
- GLOSSARY AND SPECIFIC TERMS
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2. EXECUTIVE SUMMARY
A Quick Overview of Market Performance
- KEY FINDINGS
- MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
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3. MARKET OVERVIEW
Understanding the Current State of The Market and Its Prospects
- MARKET SIZE
- MARKET STRUCTURE
- TRADE BALANCE
- PER CAPITA CONSUMPTION
- MARKET FORECAST TO 2030
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4. MOST PROMISING PRODUCT
Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO- TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
- BEST-SELLING PRODUCTS
- MOST CONSUMED PRODUCT
- MOST TRADED PRODUCT
- MOST PROFITABLE PRODUCT FOR EXPORT
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5. MOST PROMISING SUPPLYING COUNTRIES
Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO- TOP COUNTRIES TO SOURCE YOUR PRODUCT
- TOP PRODUCING COUNTRIES
- TOP EXPORTING COUNTRIES
- LOW-COST EXPORTING COUNTRIES
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6. MOST PROMISING OVERSEAS MARKETS
Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO- TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
- TOP CONSUMING MARKETS
- UNSATURATED MARKETS
- TOP IMPORTING MARKETS
- MOST PROFITABLE MARKETS
7. PRODUCTION
The Latest Trends and Insights into The Industry
- PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
- IMPORTS FROM 2012–2023
- IMPORTS BY COUNTRY
- IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
- EXPORTS FROM 2012–2023
- EXPORTS BY COUNTRY
- EXPORT PRICES BY COUNTRY
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10. PROFILES OF MAJOR PRODUCERS
The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO -
LIST OF TABLES
- Key Findings In 2023
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Per Capita Consumption In 2012-2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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LIST OF FIGURES
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
- Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
- Trade Balance, In Physical Terms, 2012-2023
- Trade Balance, In Value Terms, 2012-2023
- Per Capita Consumption, 2012-2023
- Market Volume Forecast to 2030
- Market Value Forecast to 2030
- Products: Market Size And Growth, By Type
- Products: Average Per Capita Consumption, By Type
- Products: Exports And Growth, By Type
- Products: Export Prices And Growth, By Type
- Production Volume And Growth
- Exports And Growth
- Export Prices And Growth
- Market Size And Growth
- Per Capita Consumption
- Imports And Growth
- Import Prices
- Production, In Physical Terms, 2012–2023
- Production, In Value Terms, 2012–2023
- Imports, In Physical Terms, 2012–2023
- Imports, In Value Terms, 2012–2023
- Imports, In Physical Terms, By Country, 2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, 2012–2023
- Exports, In Value Terms, 2012–2023
- Exports, In Physical Terms, By Country, 2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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