The total revenue generated by the Nigerian gas genset market was USD 259.8 million in the past, and it will grow at a rate of 7.9% in the years to come and reach a value of USD 514.4 million by 2030, as stated by a report released by P&S Intelligence. The main factors accountable for the market growth include the booming industrial and commercial expansion among lasting energy crisis.
The 1,000 kVA and above generators dominated the industry in the past, on the basis of power rating segment. This is mostly credited to the mounting requirement for gensets of power rating of 1,000 kVA and above in more than a few sectors, for example energy, commercial, and manufacturing.
Commercial sector will grow the fastest in the industry, on the basis of application, on the basis of application in the years to come. This has a lot to do with the increasing acceptance, which is powered by the gas in real estate, telecom etc.
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Furthermore, in the manufacturing sector, the requirement for electricity is tremendously high, fulfilled by the usage of gas gensets. These, together with the necessity to maintain the carbon footprint at the directed levels, would power the growth of the Nigerian gas genset market, in the years to come.
It is because of the growing energy crisis in the country, the demand for gas gensets will continue to grow in the years to come.
