Report Update Nov 1, 2024

Nigeria - Heat Pumps (Other Than Air Conditioning Machines) - Market Analysis, Forecast, Size, Trends and Insights

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Nigeria: Heat Pump Market 2024

Heat Pump Market Size in Nigeria

In 2021, the Nigerien heat pump market increased by 624% to $X, rising for the second year in a row after two years of decline. Overall, consumption saw a strong increase. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Heat Pump Exports

Exports from Nigeria

In 2021, after two years of decline, there was decline in shipments abroad of heat pumps (other than air conditioning machines), when their volume decreased by 0% to X units. In general, exports recorded a abrupt contraction. The pace of growth was the most pronounced in 2018 with an increase of 100% against the previous year. Over the period under review, the exports attained the maximum at X units in 2014; however, from 2015 to 2021, the exports stood at a somewhat lower figure.

In value terms, heat pump exports soared to $X in 2021. Over the period under review, exports continue to indicate a abrupt setback. The growth pace was the most rapid in 2015 when exports increased by 45% against the previous year. As a result, the exports attained the peak of $X. From 2016 to 2021, the growth of the exports failed to regain momentum.

Exports by Country

From 2012 to 2021, the average annual growth rate of volume to No country was relatively modest.

In value terms, Niger ($X) emerged as the key foreign market for heat pumps (other than air conditioning machines) exports from Nigeria.

From 2012 to 2021, the average annual growth rate of value to Niger totaled -38.9%.

Export Prices by Country

In 2021, the average heat pump export price amounted to $X per unit, picking up by 39% against the previous year. Over the period under review, the export price, however, saw a mild setback. The pace of growth was the most pronounced in 2015 when the average export price increased by 141% against the previous year. As a result, the export price attained the peak level of $X per unit. From 2016 to 2021, the average export prices remained at a somewhat lower figure.

As there is only one major export destination, the average price level is determined by prices for Niger.

From 2012 to 2021, the rate of growth in terms of prices for Niger amounted to -5.5% per year.

Heat Pump Imports

Imports into Nigeria

In 2021, supplies from abroad of heat pumps (other than air conditioning machines) increased by 642% to X units, rising for the second year in a row after two years of decline. Overall, imports showed significant growth. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, heat pump imports soared to $X in 2021. In general, imports enjoyed a prominent expansion. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

China (X units), India (X units) and Denmark (X units) were the main suppliers of heat pump imports to Nigeria, with a combined 98% share of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by India (with a CAGR of +91.1%), while imports for the other leaders experienced more modest paces of growth.

In value terms, India ($X) constituted the largest supplier of heat pumps (other than air conditioning machines) to Nigeria, comprising 32% of total imports. The second position in the ranking was taken by China ($X), with a 13% share of total imports. It was followed by the UK, with an 8.4% share.

From 2012 to 2021, the average annual rate of growth in terms of value from India stood at +82.1%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+7.5% per year) and the UK (+25.9% per year).

Import Prices by Country

The average heat pump import price stood at $X per unit in 2021, shrinking by -54.5% against the previous year. Over the period under review, the import price faced a deep slump. The pace of growth appeared the most rapid in 2019 an increase of 45%. As a result, import price reached the peak level of $X per unit. From 2020 to 2021, the average import prices remained at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was Brazil ($X per unit), while the price for Denmark ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Brazil (+24.4%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for heat pumps (other than air conditioning machines) in the world?

The countries with the highest volumes of heat pump consumption in 2020 were China, the United States and India, together accounting for 46% of global consumption. Japan, Indonesia, Mexico, Canada, Germany, Democratic Republic of the Congo, South Korea, France, Thailand and Italy lagged somewhat behind, together comprising a further 30%.

What are the largest producers of heat pumps (other than air conditioning machines) in the world?

The country with the largest volume of heat pump production was China, comprising approx. 30% of total volume. Moreover, heat pump production in China exceeded the figures recorded by the second-largest producer, India, threefold. The United States ranked third in terms of total production with a 9.6% share.

What are the leading suppliers of heat pumps (other than air conditioning machines) to Nigeria?

In value terms, China constituted the largest supplier of heat pump to Nigeria, comprising 39% of total imports. The second position in the ranking was occupied by Italy, with a 17% share of total imports. It was followed by India, with a 14% share.

What is the average import price for heat pumps (other than air conditioning machines) in Nigeria?

In 2020, the average heat pump import price amounted to $859 per unit, reducing by -46.5% against the previous year.

This report provides an in-depth analysis of the heat pump 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 28251380 - Heat pumps other than air conditioning machines of HS

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.

1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business
1. REPORT DESCRIPTION
2. RESEARCH METHODOLOGY AND AI PLATFORM
3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
4. GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance
1. KEY FINDINGS
2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects
1. MARKET SIZE
2. MARKET STRUCTURE
3. TRADE BALANCE
4. PER CAPITA CONSUMPTION
5. MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT

Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO
1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
2. BEST-SELLING PRODUCTS
3. MOST CONSUMED PRODUCT
4. MOST TRADED PRODUCT
5. MOST PROFITABLE PRODUCT FOR EXPORT
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
1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
2. TOP PRODUCING COUNTRIES
3. TOP EXPORTING COUNTRIES
4. LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO
1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
2. TOP CONSUMING MARKETS
3. UNSATURATED MARKETS
4. TOP IMPORTING MARKETS
5. MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
1. IMPORTS FROM 2012–2023
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
1. EXPORTS FROM 2012–2023
2. EXPORTS BY COUNTRY
3. EXPORT PRICES BY COUNTRY
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
1. Key Findings In 2023
2. Market Volume, In Physical Terms, 2012–2023
3. Market Value, 2012–2023
4. Per Capita Consumption In 2012-2023
5. Imports, In Physical Terms, By Country, 2012–2023
6. Imports, In Value Terms, By Country, 2012–2023
7. Import Prices, By Country Of Origin, 2012–2023
8. Exports, In Physical Terms, By Country, 2012–2023
9. Exports, In Value Terms, By Country, 2012–2023
10. Export Prices, By Country Of Destination, 2012–2023
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2023
2. Market Value, 2012–2023
3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
5. Trade Balance, In Physical Terms, 2012-2023
6. Trade Balance, In Value Terms, 2012-2023
7. Per Capita Consumption, 2012-2023
8. Market Volume Forecast to 2030
9. Market Value Forecast to 2030
10. Products: Market Size And Growth, By Type
11. Products: Average Per Capita Consumption, By Type
12. Products: Exports And Growth, By Type
13. Products: Export Prices And Growth, By Type
14. Production Volume And Growth
15. Exports And Growth
16. Export Prices And Growth
17. Market Size And Growth
18. Per Capita Consumption
19. Imports And Growth
20. Import Prices
21. Production, In Physical Terms, 2012–2023
22. Production, In Value Terms, 2012–2023
23. Imports, In Physical Terms, 2012–2023
24. Imports, In Value Terms, 2012–2023
25. Imports, In Physical Terms, By Country, 2023
26. Imports, In Physical Terms, By Country, 2012–2023
27. Imports, In Value Terms, By Country, 2012–2023
28. Import Prices, By Country Of Origin, 2012–2023
29. Exports, In Physical Terms, 2012–2023
30. Exports, In Value Terms, 2012–2023
31. Exports, In Physical Terms, By Country, 2023
32. Exports, In Physical Terms, By Country, 2012–2023
33. Exports, In Value Terms, By Country, 2012–2023
34. Export Prices, By Country Of Destination, 2012–2023