The import of parts for domestic non-electric thermic appliances to Nigeria exhibits significant fluctuations ranging from a high of 3.20 million kilograms in 2013 to a forecasted low of 0.575 million kilograms by 2028. Over the last two years, from 2022 to 2023, there was a noticeable decline with year-on-year variations of -7.62% and -8.08%, respectively. The compound annual growth rate (CAGR) over the last five years up to 2023 is -13.47%, suggesting an average annual decline. In 2023, the volume stood at 1.065 million kilograms, underscoring the continuous downward trend. Future forecasted data projects a further decline, with a negative CAGR of -9.76% and an overall 40.15% decrease anticipated by 2028.
Future trends to watch for include potential shifts in Nigeria’s domestic appliance production capacities, changes in trade policies, and economic factors that could influence import volumes. Additionally, technological developments and shifts towards alternative energy or heating solutions could further impact demand for these parts.
