Nigeria HVAC Market almost Doubles Its Size to Touch USD 1.9 Billion by 2031

Published | 08 July 2025

Nigeria HVAC Market is flourishing because of a surging demand for HVAC systems across various sectors, the increasing adoption of energy-efficient technologies, and substantial investments in new construction projects across the country.

BlueWeave Consulting, a leading strategic consulting and market research firm, in its recent study, estimated Nigeria HVAC Market size at USD 957.25 million in 2024. During the forecast period between 2025 and 2031, BlueWeave expects Nigeria HVAC Market size to expand at a CAGR of 10.2% reaching a value of USD 1,889.27 million by 2031. The growth of HVAC Market in Nigeria is propelled by rapid urbanization, economic expansion, and increased construction, fueling demand for energy-efficient systems like water heaters and room air conditioners. Despite this, international players face challenges from low-cost Chinese imports that compromise quality. To compete, global companies such as Daikin are investing in local training, partnerships, and advanced technologies (e.g., inverter systems, R-32 refrigerants). While electric storage water heaters are growing, HP models remain niche due to higher installation costs. The room air conditioner market, dominated by mini-splits, is boosted by urban middle-class demand for energy-saving appliances. Though Chinese brands lead on price and distribution, international players can thrive in Nigeria's premium segments by focusing on performance, after-sales support, and sustainability.

Impact of Escalating Geopolitical Tensions on Nigeria HVAC Market

Intensifying geopolitical tensions could disrupt the growth of Nigeria HVAC Market by disrupting trade, foreign investment, and critical digital infrastructure access due to potential sanctions. It could lead to reduced consumer confidence, lower transaction volumes, and supply chain delays. Additionally, increased cyber threats may raise operational costs for payment providers, hindering overall market innovation.

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Air Conditioners Segment Dominates Nigeria HVAC Market

Air conditioners currently dominate Nigeria HVAC Market by product type, driven by increasing urbanization, rising temperatures, and growing disposable incomes across Africa's most populous nation. Strong demand is evident in residential, commercial, and industrial sectors, particularly in hotter southern regions. Nigeria HVAC Market is also witnessing a shift towards energy-efficient and eco-friendly cooling systems, largely due to concerns over high electricity costs and government initiatives aimed at modernizing infrastructure and expanding commercial spaces. Despite ongoing challenges, such as an unstable power supply, Nigeria is set to become a key air conditioner market in Africa, with manufacturers like Daikin actively expanding their local operations to capitalize on this growth.

Competitive Landscape

Major companies in Nigeria HVAC Market include Daikin Industries Ltd, LG Electronics, Samsung Electronics, Carrier Global Corporation, Midea Group, Trane Technologies, Johnson Controls, Panasonic Corporation, Haier Group, and Hitachi Ltd. The presence of high number of companies intensify the market competition as they compete to gain a significant market share. These companies employ various strategies, including mergers and acquisitions, partnerships, joint ventures, license agreements, and new product launches to further enhance their market share.

Don’t miss the business opportunity in Nigeria HVAC Market. Consult our analysts to gain crucial insights and facilitate your business growth.

The in-depth analysis of the report provides information about growth potential, upcoming trends, and Nigeria HVAC Market statistics. It also highlights the factors driving forecasts of total market size. The report promises to provide recent technology trends in Nigeria HVAC Market and industry insights to help decision-makers make sound strategic decisions. Furthermore, the report also analyzes the growth drivers, challenges, and competitive dynamics of the market.

Scope of the Report

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