Nigeria Genset Rental Market (2020-2026) | Growth & 6Wresearch

 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.

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. 

Key Highlights of the Report

  • Nigeria Genset Rental Market Overview
  • Nigeria Genset Rental Market Outlook
  • Nigeria Genset Rental Market Forecast
  • 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
  • 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
  • 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

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