Consumer appliances in 2024: The big picture
Consumer appliances witnessed a second year of decline in volume sales over 2024, as soaring inflation and currency devaluation in Nigeria reduced consumer purchasing power. In this climate, consumers focused on buying essential appliances and products that are deemed more affordable.
2024 key trends
The high cost of living continues to affect discretionary purchases in Nigeria due to lower consumer purchasing power. Locals are having to prioritise essential goods and services, such as food, due to substantial price hikes.
Competitive landscape
Lower purchasing power has underpinned demand for cheaper brands in consumer appliances. Manufacturers of premium brands are losing value share to more affordable alternatives prompting a change in strategic direction, with cheaper brands being added to portfolios.
Retailing developments
Appliances and electronics specialists dominate the distribution of consumer appliances in Nigeria. The expansion of physical stores and showrooms entices consumers who prefer to feel and touch what they are buying and talk to a professional to support them.
What next for consumer appliances?
Consumer appliances is expected to see moderate growth over the forecast period as the Nigerian economy recovers. A more stable economy is expected as the rate of inflation and interest rates fall resulting in local currency appreciation.
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Overview:
Understand the latest market trends and future growth opportunities for the Consumer Appliances industry in Nigeria with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
Key trends are clearly and succinctly summarised alongside the most current research data available. Understand and assess competitive threats and plan corporate strategy with our qualitative analysis, insight and confident growth projections.
Data and analysis in this report provides further detailed coverage dedicated to the following key categories, where applicable:
- Dishwashers
- Home Laundry Appliances
- Large Cooking Appliances
- Microwaves
- Refrigeration Appliances
- Air Treatment Products
- Food Preparation Appliances
- Personal Care Appliances
- Small Cooking Appliances
- Vacuum Cleaners
If you're in the Consumer Appliances industry in Nigeria, our research will help you to make informed, intelligent decisions; to recognise and profit from opportunity, or to offer resilience amidst market uncertainty.
The Consumer Appliances in Nigeria report includes:
- Analysis of key supply-side and demand trends
- Detailed segmentation of international and local products
- Historic volume and value sizes, company and brand market shares
- Five year forecasts of market trends and market growth
- Robust and transparent research methodology, conducted in-country
This report answers:
- What is the market size of Consumer Appliances in Nigeria?
- Which are the leading brands in Nigeria?
- How are products distributed in Nigeria?
- To what extent has COVID-19 and accordant macroeconomic and retail disruption impacted demand?
- How are considerations such as urban development and the rise in single-person households determining sales growth?
- Where is future growth expected to be most dynamic?
Consumer Appliances in Nigeria
Consumer appliances in 2024: The big picture
2024 key trends
Competitive landscape
Retailing developments
What next for consumer appliances?
DISCLAIMER
Dishwashers in Nigeria
KEY DATA FINDINGS
Dishwashers remain a luxury for most Nigerians
LG leads in dishwashers due to strong preference among wealthier consumers
E-commerce builds on its high volume share
Lifestyle trends and the younger generation drive growth
The construction of new homes will increase household penetration
E-commerce to remain a prominent channel
Home Laundry Appliances in Nigeria
KEY DATA FINDINGS
Handwashing remains prominent in Nigeria
Poor power supply and energy price hikes curtail interest in home laundry appliances
Hisense leads due to its relative affordability compared to other brands
Positive growth ahead due to better economic conditions
Property development across Nigeria will boost sales of built-in appliances
Younger generations and urban living to provide growth stimulus
Large Cooking Appliances in Nigeria
KEY DATA FINDINGS
Inflationary pressures hinder the growth of large cooking appliances
Scanfrost leads in large cooking appliances
Freestanding hobs are preferred option as consumers seek affordable options
Moderate growth to be driven by urbanisation and women entering the workforce
Retail e-commerce to boost sales and growth moving forward
Home ownership and technological advancements will drive category sales
Microwaves in Nigeria
KEY DATA FINDINGS
Microwave use rises amid rising household costs and scarcity of cooking gas
Microwaves help to reduce food waste and economise
Higher need for microwaves in schools and offices
Increasing need for microwaves within offices and schools will drive growth in the future
New features such as smart technology will gain popularity
Higher disposable income and convenience foods will fuel demand for microwaves
Refrigeration Appliances in Nigeria
KEY DATA FINDINGS
Freezers record marginal growth in an inflationary environment
Freezers prove essential to reducing food waste and costs
Hisense continues to lead in refrigeration appliances
Refrigeration appliances are expected to enjoy steady growth
Energy efficient appliances to capture consumer interest
Retail e-commerce to witness strong growth
Air Treatment Products in Nigeria
KEY DATA FINDINGS
Harsh weather conditions reduce demand for cooling products
Air coolers and portable room air conditioners are deemed non-essential
Value brands drive volume growth within air treatment products
Changes in weather patterns and economic recovery will drive growth
Increase in electricity prices will boost demand for energy efficient products
Appliance and electronics specialists to remain prominent channel
Food Preparation Appliances in Nigeria
KEY DATA FINDINGS
Rising health awareness boosts demand for some food preparation appliances
Digital advertising is helping spread awareness of food preparation appliances
Established brands continue to lead the category
Stronger economy and rising minimum wage is set to bolster sales
New brands to launch in the forecast period
Health and wellness trend to boost sales
Personal Care Appliances in Nigeria
KEY DATA FINDINGS
High cost of living drives shift to alternative personal care methods
Hair care appliances weakened by harsh economic conditions
Import restrictions dampens volume sales
Rising female workforce to stimulate growth
Younger generations to support category performance
E-commerce will continue to grow and boost sales of personal care appliances
Small Cooking Appliances in Nigeria
KEY DATA FINDINGS
Freestanding hobs stimulate sales as overall category faces decline
Air fryers enjoy growth as consumers embrace healthier cooking methods
Consumers seek cheaper alternatives in hard times
Economic recovery set to bolster sales of small cooking appliances
Healthier lifestyles and cooking at home trend is set to boost demand
E-commerce to gain popularity amongst younger generations
Vacuum Cleaners in Nigeria
KEY DATA FINDINGS
Vacuum cleaners are considered a luxury product in Nigeria
Panasonic and LG lead in standard vacuum cleaners
Penetration rate remains low in vacuum cleaners
Economic recovery and more competition will drive consumer interest
Vacuum cleaners are expected to gain popularity
E-commerce channel to boost sales moving forward
The following categories and subcategories are included:
Consumer Appliances
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- Built-In Major Appliances
- Freestanding Major Appliances
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- Built-in Dishwashers
- Freestanding Dishwashers
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- Built-in Home Laundry Appliances
- Freestanding Home Laundry Appliances
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- Built-in Automatic Dryers
- Freestanding Automatic Dryers
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- Built-in Automatic Washer Dryers
- Freestanding Automatic Washer Dryers
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- Built-in Automatic Washing Machines
- Freestanding Automatic Washing Machines
- Semi-Automatic Washing Machines
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- Built-in Large Cooking Appliances
- Freestanding Large Cooking Appliances
- Built-in Hobs
- Ovens
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- Built-in Cooker Hoods
- Freestanding Cooker Hoods
- Cookers
- Range Cookers
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- Built-in Microwaves
- Freestanding Microwaves
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- Built-in Refrigeration Appliances
- Freestanding Refrigeration Appliances
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- Built-in Electric Wine Coolers/Chillers
- Freestanding Electric Wine Coolers/Chillers
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- Built-in Freezers
- Freestanding Freezers
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- Built-in Fridge Freezers
- Freestanding Fridge Freezers
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- Built-in Fridges
- Freestanding Fridges
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- Air Purifiers
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- Portable Room Air Conditioners
- Split Air Conditioners
- Window Air Conditioners
- Air Coolers
- Cooling Fans
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- Dehumidifiers
- Humidifiers
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- Blenders
- Food Processors
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- Centrifugal Juicers
- Slow Juicers
- Mixers
- Other Food Preparation Appliances
- Heating Appliances
- Irons
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- Body Shavers
- Electric Facial Cleansers
- Hair Care Appliances
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- Battery Toothbrush Units
- Electric Toothbrush Units
- Other Oral Care Appliances
- Other Personal Care Appliances
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- Breadmakers
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- Espresso Coffee Machines
- Filter Coffee Machines
- Other Standard Coffee Machines
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- Hard Pods
- Soft Pods
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- Coffee Mills
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- Air Fryers
- Oil Based Fryers
- Electric Grills
- Electric Steamers
- Freestanding Hobs
- Kettles
- Rice Cookers
- Slow Cookers
- Other Small Cooking Appliances
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- Cylinder Vacuum Cleaners
- Handheld Vacuum Cleaners
- Stick Vacuum Cleaners
- Upright Vacuum Cleaners
- Steam Vacuum Cleaners
- Robotic Vacuum Cleaners
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Consumer Appliances
Consumer Appliances is the aggregation of major appliances and small appliances. Major appliances are an aggregate of the following categories: refrigeration appliances, home laundry appliances, dishwashers, large cooking appliances and microwaves. Small appliances are an aggregation of the following categories: food preparation appliances, small cooking appliances, vacuum cleaners, irons, personal care appliances, heating appliances and air treatment appliances.
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This report originates from Passport, our Consumer Appliances research and analysis database.
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