Nigeria Home Appliances Market
Market Size in USD Billion
CAGR :
% 
 Forecast Period |
2022 –2029 |
 Market Size (Base Year) |
USD 466,873.66 Thousand |
 Market Size (Forecast Year) |
USD 629,184.77 Thousand |
 CAGR |
% |
| Major Markets Players |
Nigeria Home Appliances Market, By Product (Refrigerator, Air Conditioner, Heaters, Washing Machines, Cleaning Appliances, Gas Stove, Cooking Range, Microwave and Oven and Others), Technology (Manual Home Appliances and Smart Home Appliances), Distribution Channel (Supermarkets/Hypermarkets, Specialty Stores, E-Commerce and Others), Household Type (Family Households and Non-Family Households) – Industry Trends and Forecast to 2029
Market Analysis and Size
Home appliances play a crucial role in regular housekeeping tasks such as washing laundry, cooking, and food preservation, among others. These appliances are known to be equipped with special connections such as gas, plumbing, electrical, and ventilation arrangements.
Nigeria Home Appliances Market was valued at USD 466873.66 thousands in 2021 and is expected to reach USD 629184.77 thousands by 2029, registering a CAGR of 3.80% during the forecast period of 2022-2029. Family Households accounts for the most prominent household type segment in the respective market owing to rise in need of products such as refrigerators, washing machines, heaters and others. In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team also includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, and climate chain scenario.
Market Definition
Home appliances are products which are used to reduce the work load from the consumers to save time in their daily household activities. These household appliances are used in domestic, commercial and industrial sectors in different applications. Due to the growing variety and income level of the individuals the consumption of home appliances is increasing at the faster pace.
Report Scope and Market Segmentation
|
Report Metric |
Details |
|
Forecast Period |
2022 to 2029 |
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Base Year |
2021 |
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Historic Years |
2020 (Customizable to 2014 - 2019) |
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Quantitative Units |
Revenue in USD Thousands, Volumes in Units, Pricing in USD |
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Segments Covered |
Product (Refrigerator, Air Conditioner, Heaters, Washing Machines, Cleaning Appliances, Gas Stove, Cooking Range, Microwave and Oven and Others), Technology (Manual Home Appliances and Smart Home Appliances), Distribution Channel (Supermarkets/Hypermarkets, Specialty Stores, E-Commerce and Others), Household Type (Family Households and Non-Family Households) |
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Market Players Covered |
Honeywell International Inc. (U.S.), Siemens (Germany), Johnson Controls (Ireland), Axis Communications AB (Sweden), Schneider Electric (France), ASSA ABLOY (Sweden), Amazon (U.S.), Apple Inc., (U.S.), ADT (US), ABB (Switzerland), Robert Bosch GmbH (Germany), Sony Corporation (Japan), Samsung (South Korea), Ooma Inc., (U.S.), Delta Controls (Canada), Comcast (U.S.), Crestron Electronics Inc., (U.S.), SimpliSafe Inc., (U.S.), Armorax (U.S.), LG Electronics (South Korea), Lutron Electronics Co., Inc (U.S.) and Legrand (France) |
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Market Opportunities |
Continuous technological advancements leading to development of smart appliances Growing urbanization in developing economies Penetration of iot, z-wave, Wi-Fi, Bluetooth technology |
Nigeria Home Appliances Market Dynamics
This section deals with understanding the market drivers, advantages, opportunities, restraints and challenges. All of this is discussed in detail as below:
Drivers
- Technological advancements
The continuous technological advancements leading to development of smart appliances acts as one of the major factors driving the growth of home appliances market. Smart appliances deliver advanced features. Also, increase in consumer inclination towards advanced appliances owing to the high living standards drives the market growth.
- Surge in Number of Smart Buildings
Additionally, with the growing urbanization in developing economies, there has been a surge in smart buildings, which is estimated to bolster the market's overall growth. Furthermore, the increasing number of internet users, growing adoption of smart devices, and increasing customer preference for video doorbells, voice-assisted technologies (such as Alexa and Google Home) and surveillance systems also further fuels market growth.
- Concerns Regarding Safety
Growing concerns regarding safety, security and public convenience also cushions the market's growth within the forecasted period. Moreover, the connected devices help consumers control and monitor the home appliances and office devices remotely from their smartphones or tablets, which acts as a market driver.
Additionally, rapid urbanization, change in lifestyle, surge in investments and increased consumer spending positively impact the home appliances market.
Opportunities
Furthermore, penetration of IoT, z-wave, Wi-Fi, Bluetooth technology coupled with the investment in smart home security devices are estimated to generate lucrative opportunities for the market, which will further expand the smart home market's growth rate in the future. Additionally, the shifted focus on improving energy efficiency will also offer numerous growth opportunities within the market.
Restraints/Challenges Nigeria Home Appliances Market
- High Cost
The high cost for smart home setups is serving as a market restraint. The price range is expected to obstruct market growth.
- Increased Security and Privacy Concerns
Also, the consumer security and privacy concerns with more connected devices are projected to be challenge for the smart home market over the forecast period.
This home appliances market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info home appliances market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
COVID-19 Impact on Nigeria Home Appliances Market
The home appliances market was immensely impacted by the outbreak of COVID-19. The pandemic significantly damaged and disrupted supply chain hubs across all major end verticals across the globe. The lockdown harmed production across the globe and will exacerbate the existing manufacturing slump and trade uncertainty. The United States has been hit the worst in manufacturing, with China's production capacity falling by over 14% and worldwide electronic component sales falling by nearly 40%. The industrial industry, which accounts for roughly 17% of global GDP, is one of the worst-affected sectors during the COVID-19 epidemic. This has had a direct influence on global FDI inflows, and as a result, some economies around the world have experienced significant declines. The worldwide standoff has stifled production at these plants, causing the entire supply chain to fall apart.
To combat the spread of the virus and for economic reasons, large industrial corporations closed their facilities and laid off their personnel. To survive during the pandemic, some manufacturers have begun to change their companies in order to be able to provide crucial or high-demand products.
Recent Developments
- In January 2020, Samsung launched new range of air conditioners with Wi-Fi capability, human detection and green R32 gas, Premium Triple Inverter Series, Eco Inverter, and On/Off split ACs with wind -Free AC 2.0. The new range of product will ease work of the customers and also will help Samsung gain more sales and revenue values.
Nigeria Home Appliances Market Scope
The home appliances market is segmented on the basis of product, technology, distribution channel and household type. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Product
- Refrigerator
- Air Conditioner
- Heaters
- Washing Machines
- Cleaning Appliances
- Gas Stove
- Cooking Range
- Microwave
- Oven
- Others
Technology
- Manual Home Appliances
- Smart Home Appliances
Distribution Channel
- Supermarkets/Hypermarkets
- Specialty Stores
- E-Commerce
- Others
Household Type
- Family Households
- Non-Family Households
Competitive Landscape and Nigeria Home Appliances Market Share Analysis
The home appliances market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to home appliances market.
Some of the major players operating in the home appliances market are
- Honeywell International Inc. (U.S.)
- Siemens (Germany)
- Johnson Controls (Ireland)
- Axis Communications AB (Sweden)
- Schneider Electric (France)
- ASSA ABLOY (Sweden)
- Amazon (U.S.)
- Apple Inc., (U.S.)
- ADT (US)
- ABB (Switzerland)
- Robert Bosch GmbH (Germany)
- Sony Corporation (Japan)
- Samsung (South Korea)
- Ooma Inc., (U.S.)
- Delta Controls (Canada)
- Comcast (U.S.)
- Crestron Electronics Inc., (U.S.)
- SimpliSafe Inc., (U.S.)
- Armorax (U.S.)
- LG Electronics (South Korea)
- Lutron Electronics Co., Inc (U.S.)
- Legrand (France)
SKU-
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Table of Content
1 INTRODUCTION
1.1 OBJECTIVES OF THE STUDY
1.2 MARKET DEFINITION
1.3 OVERVIEW OF NIGERIA FOR HOME APPLIANCES MARKET
1.4 LIMITATION
1.5 MARKETS COVERED
2 MARKET SEGMENTATION
2.1 MARKETS COVERED
2.2 GEOGRAPHICAL SCOPE
2.3 YEARS CONSIDERED FOR THE STUDY
2.4 CURRENCY AND PRICING
2.5 DBMR TRIPOD DATA VALIDATION MODEL
2.6 PRODUCT TYPELIFE LINE CURVE
2.7 MULTIVARIATE MODELING
2.8 PRIMARY INTERVIEWS WITH KEY OPINION LEADERS
2.9 DBMR MARKET POSITION GRID
2.1 MARKET APPLICATION COVERAGE GRID
2.11 DBMR MARKET CHALLENGE MATRIX
2.12 VENDOR SHARE ANALYSIS
2.13 IMPORT-EXPORT DATA
2.14 SECONDARY SOURCES
2.15 ASSUMPTIONS
3 EXECUTIVE SUMMARY
4 PREMIUM INSIGHT
5 MARKET OVERVIEW
5.1 DRIVERS
5.1.1 AFFORDABLE PRICE OF APPLIANCES
5.1.2 TECHNOLOGICAL ADVANCEMENTS IN VARIOUS PRODUCT RANGES OF HOME APPLIANCES
5.1.3 ADOPTION OF HIGH STANDARD OF LIVING AMONG THE GROWING POPULATION
5.1.4 ATTRACTIVE OFFERS BY ONLINE RETAILERS DRIVE THE MARKET IN THE SMALLER REGIONS
5.2 RESTRAINTS
5.2.1 CLEANING AND MAINTENANCE OF HOME APPLIANCES IS QUITE DIFFICULT
5.2.2 LOW POPULARITY OF HOME APPLIANCES AMONG NATIVES OF NIGERIA, SOUTH AFRICA AND ETHIOPIA
5.3 OPPORTUNITIES
5.3.1 INCREASE DIGITAL PENETRATION AMONG THE HOME APPLIANCES PRODUCTS
5.3.2 INCREASING ELECTRIFICATION OF RURAL AREAS
5.3.3 EMERGENCE OF SMART HOMES
5.4 CHALLENGES
5.4.1 POLICIES TO IMPROVE ENERGY EFFICIENT EQUIPMENT AND EQUAL ACCESS FOR ALL FOR DECENT LIVING CONDITIONS
5.4.2 HIGH COST OF TRANSPORTATION OF LARGE HOME APPLIANCES
6 COVID-19 IMPACT ON NIGERIA FOR HOME APPLIANCES MARKET
6.1 ANALYSIS ON IMPACT OF COVID-19 ON THE NIGERIA FOR HOME APPLIANCES MARKET
6.2 AFTERMATH OF COVID-19 AND GOVERNMENT INITIATIVE TO BOOST THE NIGERIA FOR HOME APPLIANCES MARKET
6.3 STRATERGIC DECISIONS FOR MANUFACTURERS AFTER COVID-19 TO GAIN COMPETITIVE MARKET SHARE
6.4 PRICE IMPACT
6.5 IMPACT ON DEMAND
6.6 IMPACT ON SUPPLY CHAIN
6.7 CONCLUSION
7 NIGERIA , SOUTH AFRICA AND ETHIOPIA FOR HOME APPLIANCES MARKET, BY GEOGRAPHY
7.1 NIGERIA
8 NIGERIA FOR HOME APPLIANCES MARKET, COMPANY LANDSCAPE
8.1 COMPANY SHARE ANALYSIS: NIGERIA
9 SWOT
10 COMPANY PROFILE
10.1 SAMSUNG
10.1.1 COMPANY SNAPSHOT
10.1.2 REVENUE ANALYSIS
10.1.3 PRODUCT PORTFOLIO
10.1.4 RECENT UPDATES
10.2 LG ELECTRONICS
10.2.1 COMPANY SNAPSHOT
10.2.2 REVENUE ANALYSIS
10.2.3 RECENT UPDATES
10.3 PANASONIC CORPORATION
10.3.1 COMPANY SNAPSHOT
10.3.2 REVENUE ANALYSIS
10.3.3 PRODUCT PORTFOLIO
10.3.4 RECENT UPDATES
10.4 HAIER GROUP
10.4.1 COMPANY SNAPSHOT
10.4.2 REVENUE ANALYSIS
10.4.3 PRODUCT PORTFOLIO
10.4.4 RECENT UPDATES
10.5 SONY CORPORATION
10.5.1 COMPANY SNAPSHOT
10.5.2 REVENUE ANALYSIS
10.5.3 PRODUCT PORTFOLIO
10.5.4 RECENT UPDATES
10.6 ROBERT BOSCH GMBH
10.6.1 COMPANY SNAPSHOT
10.6.2 REVENUE ANALYSIS
10.6.3 PRODUCT PORTFOLIO
10.6.4 RECENT UPDATES
10.7 WHIRLPOOL CORPORATION
10.7.1 COMPANY SNAPSHOT
10.7.2 REVENUE ANALYSIS
10.7.3 PRODUCT PORTFOLIO
10.7.4 RECENT UPDATES
10.8 TIGER CORPORATION
10.8.1 COMPANY SNAPSHOT
10.8.2 PRODUCT PORTFOLIO
10.8.3 RECENT UPDATES
10.9 DEFY (A SUBSIDIARY OF ARÇELIK A.Ş.)
10.9.1 COMPANY SNAPSHOT
10.9.2 REVENUE ANALYSIS
10.9.3 PRODUCT PORTFOLIO
10.9.4 RECENT UPDATE
10.1 FRIGIDAIRE
10.10.1 COMPANY SNAPSHOT
10.10.2 PRODUCT PORTFOLIO
10.10.3 RECENT UPDATE
10.11 GTC-ALDIS PHILIPPINES, INC.
10.11.1 COMPANY SNAPSHOT
10.11.2 PRODUCT PORTFOLIO
10.11.3 RECENT UPDATE
10.12 HISENSE
10.12.1 COMPANY SNAPSHOT
10.12.2 REVENUE ANALYSIS
10.12.3 PRODUCT PORTFOLIO
10.12.4 RECENT UPDATES
10.13 MIELE
10.13.1 COMPANY SNAPSHOT
10.13.2 REVENUE ANALYSIS
10.13.3 PRODUCT PORTFOLIO
10.13.4 RECENT UPDATE
10.14 SHARP CORPORATION
10.14.1 COMPANY SNAPSHOT
10.14.2 REVENUE ANALYSIS
10.14.3 PRODUCT PORTFOLIO
10.14.4 RECENTUPDATES
11 QUESTIONNAIRE
12 RELATED REPORTS
List of Table
LIST OF TABLES
TABLE 1 IMPORT DATA OF PRODUCT:8509 ELECTROMECHANICAL DOMESTIC APPLIANCES, WITH SELF-CONTAINED ELECTRIC MOTOR; PARTS THEREOF (EXCLUDING ....HS CODE: 8509 (USD THOUSAND)
TABLE 2 EXPORT8509 ELECTROMECHANICAL DOMESTIC APPLIANCES, WITH SELF-CONTAINED ELECTRIC MOTOR; PARTS THEREOF (EXCLUDING ...HS CODE: 8509 (USD THOUSAND)
TABLE 3 SALE OF HOME APPLIANCES IN RESIDENTIAL SECTOR OF SOUTH AFRICA, IN 2014 (IN THOUSANDS)
TABLE 4 NIGERIA HOME APPLIANCES MARKET, BY PRODUCT, 2018-2027 (THOUSAND UNITS )
TABLE 5 NIGERIA HOME APPLIANCES MARKET, BY PRODUCT , 2018–2027 (USD THOUSAND)
TABLE 6 NIGERIA REFRIGERATOR FOR HOME APPLIANCES MARKET, BY REFRIGERATOR TYPE , 2018-2027 (THOUSAND THOUSANDS )
TABLE 7 NIGERIA REFRIGERATOR FOR HOME APPLIANCES MARKET, BY REFRIGERATOR DOOR TYPE , 2018–2027 (USD THOUSAND)
TABLE 8 NIGERIA AIR CONDITIONER FOR HOME APPLIANCES MARKET,BY AIR CONDITIONER DOOR TYPE , 2018–2027 (USD THOUSAND)
TABLE 9 NIGERIA AIR CONDITIONER HOME APPLIANCES MARKET, BY AIR CONDITIONER DUCT TYPE , 2018–2027 (USD THOUSAND)
TABLE 10 NIGERIA HEATERS FOR HOME APPLIANCES MARKET, BY HEATERS TYPE , 2018–2027 (USD THOUSAND)
TABLE 11 NIGERIA WASHING MACHINES FOR HOME APPLIANCES MARKET, BY PRODUCT, 2018–2027 (USD THOUSAND)
TABLE 12 NIGERIA WASHING MACHINES FOR HOME APPLIANCES MARKET BY TECHNOLOGY , 2018–2027 (USD THOUSAND)
TABLE 13 NIGERIA WASHING MACHINES FOR HOME APPLIANCES MARKET, BY CAPACITY , 2018–2027 (USD THOUSAND)
TABLE 14 NIGERIA CLEANING APPLIANCES FOR HOME APPLIANCES MARKET, BY CLEANING APPLIANCES TYPE, 2018-2027 (USD THOUSAND)
TABLE 15 NIGERIA GAS STOVE FOR HOME APPLIANCES MARKET, BY GAS STOVE TYPE, 2018-2027 (USD THOUSAND)
TABLE 16 NIGERIA HOME APPLIANCES MARKET, BY TECHNOLOGY, 2018-2027 (USD THOUSAND)
TABLE 17 NIGERIA HOME APPLIANCES MARKET, BY DISTRIBUTION CHANNEL, 2018-2027 (USD THOUSAND)
TABLE 18 NIGERIA HOME APPLIANCES MARKET, BY HOUSEHOLD TYPE, 2018-2027 (USD THOUSAND)
TABLE 19 NIGERIA FAMILY HOUSEHOLDS FOR HOME APPLIANCES MARKET, BY PRODUCT, 2018-2027 (USD THOUSAND)
TABLE 20 NIGERIA NON-FAMILY HOUSEHOLDS FOR HOME APPLIANCES MARKET, BY PRODUCT, 2018-2027 (USD THOUSAND)
List of Figure
LIST OF FIGURES
FIGURE 1 NIGERIA FOR HOME APPLIANCES MARKET: SEGMENTATION
FIGURE 2 NIGERIA FOR HOME APPLIANCES MARKET: DATA TRIANGULATION
FIGURE 3 NIGERIA FOR HOME APPLIANCES MARKET: DROC ANALYSIS
FIGURE 4 NIGERIA FOR HOME APPLIANCES MARKET: COUNTRY VS REGIONAL MARKET ANALYSIS
FIGURE 5 NIGERIA FOR HOME APPLIANCES MARKET: COMPANY RESEARCH ANALYSIS
FIGURE 6 NIGERIA FOR HOME APPLIANCES MARKET: THE CAPACITY LIFE LINE CURVE
FIGURE 7 NIGERIA FOR HOME APPLIANCES MARKET: INTERVIEW DEMOGRAPHICS
FIGURE 8 NIGERIA FOR HOME APPLIANCES MARKET: DBMR MARKET POSITION GRID
FIGURE 9 NIGERIA FOR HOME APPLIANCES MARKET: MARKET APPLICATION COVERAGE GRID
FIGURE 10 NIGERIA FOR HOME APPLIANCES MARKET: THE MARKET CHALLENGE MATRIX
FIGURE 11 NIGERIA FOR HOME APPLIANCES MARKET: VENDOR SHARE ANALYSIS
FIGURE 12 NIGERIA FOR HOME APPLIANCES MARKET: SEGMENTATION
FIGURE 13 SOUTH AFRICA IS EXPECTED TO DOMINATE THE NIGERIA FOR HOME APPLIANCES MARKET AND IS EXPECTED TO GROW WITH THE HIGHEST CAGR IN THE FORECAST PERIOD OF 2020 TO 2027
FIGURE 14 GROWING DEMAND IN FAMILY HOUSEHOLD IS DRIVING THE NIGERIA FOR HOME APPLIANCES MARKET IN THE FORECAST PERIOD OF 2020 TO 2027
FIGURE 15 REFRIGERATOR SEGMENT IS EXPECTED TO ACCOUNT FOR THE LARGEST SHARE OF THE NIGERIA FOR HOME APPLIANCES MARKET IN 2020 & 2027
FIGURE 16 SOUTH AFRICA IS THE FASTEST GROWING MARKET FOR HOME APPLIANCES MANUFACTURERS IN THE FORECAST PERIOD OF 2020 TO 2027
FIGURE 17 DRIVERS, RESTRAINTS, OPPORTUNITIES AND CHALLENGES OF NIGERIA FOR HOME APPLIANCES MARKET
FIGURE 18 NIGERIA HOME APPLIANCES MARKET: COMPANY SHARE 2019 (%)
Research Methodology
Data collection and base year analysis are done using data collection modules with large sample sizes. The stage includes obtaining market information or related data through various sources and strategies. It includes examining and planning all the data acquired from the past in advance. It likewise envelops the examination of information inconsistencies seen across different information sources. The market data is analysed and estimated using market statistical and coherent models. Also, market share analysis and key trend analysis are the major success factors in the market report. To know more, please request an analyst call or drop down your inquiry.
The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market and primary (industry expert) validation. Data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Patent Analysis, Pricing Analysis, Company Market Share Analysis, Standards of Measurement, Global versus Regional and Vendor Share Analysis. To know more about the research methodology, drop in an inquiry to speak to our industry experts.
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