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Nigeria Air Conditioner

Nigeria’s Air Conditioner market is projected to grow at a CAGR of 5.70% during 2016-22. In 2015, Nigerian air conditioner market declined due to declining oil prices and weak economic conditions. The economy is expected to regain growth in the next two years, which would drive several infrastructure development activities in the country. Over the next six years, centralized air conditioner market is estimated to grow at a healthy growth rate owing to increasing construction activities in commercial sector.

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Though, the market recorded significant growth during 2010-14, however, in the year 2015, Nigerian air conditioner market declined on the back of slumping global oil prices and weak economic conditions. Further, several projects were on hold due to elections in the country, which resulted into this decline.Nigeria Air Conditioner Market is projected to grow at a CAGR of 5.7% during 2016-22