The forecast for the import of electric space heating and soil heating apparatus to Nigeria from 2024 to 2028 shows a clear decreasing trend. The value in 2023 stood at X thousand US Dollars. From 2024 to 2028, the forecasted values decline year-on-year: from 247.98 thousand US Dollars in 2024 to 128.72 thousand US Dollars in 2028. Specifically, there is a forecasted decline of approximately 12.37% from 2025 to 2024, 13.84% from 2026 to 2025, 15.81% from 2027 to 2026, and 18.35% from 2028 to 2027. The compound annual growth rate (CAGR) from 2024 to 2028 indicates an average annual decrease of around 14.11%.
Future trends to watch for include:
- Technological advancements and increased energy efficiency in heating apparatus.
- Potential changes in import taxation or trade policies in Nigeria.
- Emerging local production capabilities which may reduce dependency on imports.
- Fluctuations in global trade markets and logistic challenges impacting import volumes.