The forecasted import of air conditioning equipment and machinery to Nigeria shows a consistent upward trend. For 2024, the import value is projected at 160.02 million USD, followed by incremental increases reaching 174.78 million USD by 2028. Comparing the actual data from 2023 to the forecasted data, there is a noticeable year-on-year growth:
- 2024: +2.38%
- 2025: +2.37%
- 2026: +2.28%
- 2027: +2.18%
- 2028: +2.10%
The compound annual growth rate (CAGR) over the next five years is forecasted at approximately 2.26% annually.
Future trends to watch for include the impact of energy efficiency regulations, adoption of eco-friendly technologies, and economic factors influencing consumer purchasing power. Monitoring these could provide insights into potential market shifts and emerging opportunities in Nigeria's air conditioning sector.