Nigeria’s Diesel Generator Market Set to Hit $694 Million by 2022

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As Nigeria’s energy sector continues to wobble, importers of power generating sets are smiling to the banks and further depleting the country’s scarce foreign exchange, as the importation of generators continues to boom, Leadership reports.

A Research and Markets report published by Globe Newswire said that in Nigeria, diesel generator sets with a rating of less than 750 KVA accounted for majority of the market share due to extensive power shortage in the country. The report tagged: “Nigeria Diesel Genset Market (2016-2022),” noted that in the forecast period, the 5-75 KVA range would continue to show its dominance in volume terms in the Nigerian market.

It said that the regional share of the diesel genset market was dominated by northern Nigeria, noting that even though most of the industries and major tourist destinations were situated in the southern region, the northern region with its large population and virtually zero generation of electricity has led to the maximum revenue share of diesel generating sets  for this region.

Source: EnergyMix

 

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