Nigeria Construction Equipment Market

Nigeria Construction Equipment Market Overview

Nigeria construction equipment market is predicted to grow during the forecast period due to the increasing government investment for infrastructure development with the technological advancement.

Major Nigeria Construction Equipment Market Drivers

Nigerian construction market is driven by the rising spending by the government and private entities on construction projects. Government is expected to contribute 52% of total investment and majorly focus on development of bridges, ports, roads and railways. As per the World Bank, the country need to spend USD 3 trillion for infrastructure development and to reduce the infrastructure deficit in the Nigeria. Nigerian government introduced 30 year plan i.e., National Integrated Infrastructure Master Plan to decrease infrastructure deficit. Through this plan, country planned to bring infrastructure stock to 70% of GDP by 2043. In addition, government also aimed to complete 6,000 km road projects under 3 year plan and will provide affordable house to people. The country will continue to focus on public-private partnership in order to complete development projects such as seaports in Lekki, second Niger river bridge and expansion of free trade zones.

Nigeria construction machinery market witness higher growth in terms of sales till 2030 owing to the improvement in the market conditions and rapid infrastructural development projects across the country. Upsurge in the economic conditions along with the improving industry growth is expected to boost the market demand. Key players are heavily investing to adapt advanced technology which will have positive impact on market dynamics. Rising government budget for infrastructure development plans and energy infrastructure projects is further paving way for the Nigerian construction equipment market. The government planned to provide better transportation network for approx. 200 million people in the country. Moreover, government is also focusing on industrial development in the construction sector which will increase the demand for construction equipment in Nigeria.

Heavy Construction Equipment market is expected to register higher growth in near future. The market is driven by the high demand for excavators, generators, trucks and dredgers because of the various ongoing projects across the country. Increasing infrastructure and adoption of latest technologies will further create more opportunities for the market growth.

Nigeria construction equipment market report provides detailed market insights including the growth opportunities of the industry, government initiatives, and construction projects. Nigeria construction equipment market research will also provide the impact of industry trends and issues in the Nigerian construction industry. Nigeria construction equipment market outlook covers analysis of the numerous ongoing projects, Nigeria construction equipment market trends and opportunities aligned with the market strategies.

Segments covered in the Report:

The Nigeria Construction Equipment Market has been segmented on the basis of Engine Capacity, Equipment Category, Propulsion Type and Application. Based on the Engine Capacity, the market is segmented into Up to 250 HP, 250-500 HP, more than 500 HP. Based on the Equipment Category, the market is segmented into Earth Moving Machinery, Material Handling Equipment, Heavy Construction Equipment, Others. Based on the Propulsion Type, the market is segmented into Diesel, CNG/LNG/RNG. Based on the Application, the market is segmented into Infrastructure, Commercial, Residential.

Market Segmentation

Nigeria Construction Equipment Market by Engine Capacity

• • Up to 250 HP
  • 250-500 HP
  • More than 500 HP

Nigeria Construction Equipment Market by Equipment Category

• • Earth Moving Machinery
  • Material Handling Equipment
  • Heavy Construction Equipment
  • Others

Nigeria Construction Equipment Market by Propulsion Type

• • Diesel
  • CNG/LNG/RNG

Nigeria Construction Equipment Market by Application

• • Infrastructure
  • Commercial
  • Residential