Nigeria: Market for Air conditioning Machines without Refrigeration Unit 2025

Market Size for Air conditioning Machines without Refrigeration Unit in Nigeria

In 2022, the Nigerien market for air conditioning machines without refrigeration unit increased by 229% to $X, rising for the second consecutive year after two years of decline. Over the period under review, consumption recorded significant growth. Consumption of peaked in 2022 and is expected to retain growth in the near future.

Exports of Air conditioning Machines without Refrigeration Unit

Exports from Nigeria

Exports of air conditioning machines without refrigeration unit from Nigeria declined to X units in 2022, which is down by -14.3% against 2021 figures. Overall, exports, however, recorded buoyant growth. The growth pace was the most rapid in 2021 with an increase of 1,300% against the previous year. As a result, the exports attained the peak of X units, and then declined in the following year.

In value terms, exports of air conditioning machines without refrigeration unit contracted markedly to $X in 2022. In general, exports, however, posted a resilient increase. The most prominent rate of growth was recorded in 2018 when exports increased by 248%. Over the period under review, the exports of hit record highs at $X in 2021, and then shrank markedly in the following year.

Exports by Country

Benin (X units) was the main destination for exports of air conditioning machines without refrigeration unit from Nigeria, with a 75% share of total exports. Moreover, exports of air conditioning machines without refrigeration unit to Benin exceeded the volume sent to the second major destination, South Africa (X units), ninefold.

From 2012 to 2022, the average annual growth rate of volume to Benin amounted to +24.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: South Africa (0.0% per year) and France (0.0% per year).

In value terms, Benin ($X) remains the key foreign market for air conditioning machines without refrigeration unit exports from Nigeria, comprising 58% of total exports. The second position in the ranking was taken by France ($X), with a 1.9% share of total exports. It was followed by South Africa, with a 0.1% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Benin stood at +38.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: France (0.0% per year) and South Africa (0.0% per year).

Export Prices by Country

In 2022, the average export price for air conditioning machines without refrigeration unit amounted to $X per unit, falling by -15.9% against the previous year. Overall, the export price saw a abrupt curtailment. The pace of growth appeared the most rapid in 2018 when the average export price increased by 324% against the previous year. As a result, the export price attained the peak level of $X per unit. From 2019 to 2022, the average export prices failed to regain momentum.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Ghana ($X per unit), while the average price for exports to South Africa ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the Netherlands (+465.1%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Air conditioning Machines without Refrigeration Unit

Imports into Nigeria

In 2022, the amount of air conditioning machines without refrigeration unit imported into Nigeria soared to X units, growing by 195% compared with the previous year. Overall, imports posted a significant expansion. The pace of growth was the most pronounced in 2021 when imports increased by 241%. Over the period under review, imports of attained the maximum in 2022 and are expected to retain growth in the near future.

In value terms, imports of air conditioning machines without refrigeration unit soared to $X in 2022. In general, imports showed a resilient expansion. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

China (X units), South Korea (X units) and Italy (X units) were the main suppliers of imports of air conditioning machines without refrigeration unit to Nigeria, together accounting for 60% of total imports. The United States, India, Slovakia, the Netherlands and France lagged somewhat behind, together accounting for a further 23%.

From 2012 to 2022, the biggest increases were recorded for Slovakia (with a CAGR of +52.3%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, South Korea ($X), Italy ($X) and Slovakia ($X) constituted the largest air conditioning machins without refrigeration unit suppliers to Nigeria, with a combined 53% share of total imports.

Among the main suppliers, South Korea, with a CAGR of +51.4%, recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average import price for air conditioning machines without refrigeration unit stood at $X per unit in 2022, picking up by 34% against the previous year. In general, the import price, however, recorded a slight descent. The import price peaked at $X per unit in 2017; however, from 2018 to 2022, import prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was France ($X per unit), while the price for the Netherlands ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by South Korea (+9.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform