The forecast for the import of compressors for refrigerating equipment to Nigeria indicates a consistent decline from 2024 to 2028. The import volume stood at 2.7619 million kilograms in 2024, decreasing year-on-year by 5.83% in 2025, 6.07% in 2026, 6.34% in 2027, and 6.63% in 2028. The compounded annual growth rate (CAGR) over this five-year period is approximately -6.22%, highlighting a steady downward trend.
Future trends to watch for:
- Impact of local manufacturing initiatives on import volumes.
- Changes in regulatory policies affecting import tariffs or restrictions.
- Global supply chain dynamics and their effects on import costs.
- Technological advancements in refrigerating equipment, potentially reducing the need for imports.