Nigeria Gas Genset Market To Generate Revenue Worth $514.4 Million in 2030

  • Published: December 2021

The proliferating demand for medium- and high-power gas gensets from the commercial sector and advancement of the energy and manufacturing sectors are the major growth drivers for the Nigerian gas genset market. Due to the aforementioned factors, the industry is projected to generate $514.4 million revenue by 2030, advancing at a CAGR of 7.9% during the forecast period (2021–2030).

There was a sudden fall in the demand for gas gensets in the first quarter of 2020, due to the lockdown of various commercial establishments, including retail stores, offices, and telecom towers. Moreover, in March 2020, the senator representing Niger South, Bima Enagi, launched a bill to prohibit the importation of generating sets to reduce the environmental pollution, which is projected to reduce the sales of gas gensets in the country in the long run.

1,000 kVA and Above Category To Hold Largest Share throughout Forecast Period

The Nigerian gas genset market is categorized into 15–75 kVA, 76–375 kVA, 376–750 kVA, 751–999 kVA, and 1,000 kVA and above, based on power rating. Among these, 1,000 kVA and above category dominated the market during the historical period (2017–2021), and it is expected to retain its dominance during the forecast period as well. This is mainly due to the huge application of gas gensets of power rating of 1,000 kVA and above for prime and standby emergency power requirements in large-scale industrial and commercial installations, such as hospitals and railways.

Further, the market for gas gensets in Nigeria is categorized into commercial, industrial, and residential, based on application. Among these, the commercial category is expected to record the highest growth rate in the coming years, due to the surging adoption of gas gensets in commercial areas, such as real estate and telecom. Moreover, the growth in commercial development amidst the long-standing energy crisis is further expected to boost the demand for gas gensets in the country.

The major players operating in the Nigerian gas genset industry are YorPower Ltd., Honda Manufacturing (Nigeria) Limited, Jubaili Bros, Cummins Inc., Caterpillar Inc., General Electric Company, Siemens AG, John Holt Plc, Atlas Copco AB, Mitsubishi Heavy Industries Ltd., Mikano International Limited, and JMG Limited.

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