Your payment is in progress...

Nigeria Power EPC Market - Growth, Trends, And Forecasts (2020 - 2025)

Published on: Jun 2020 | From USD $3250 | Published By: MORDOR INTELLIGENCE | Number Of Pages: 90

The Nigeria power EPC market is witnessing significant growth with CAGR greater than 7.5%. Factors such as huge investment and government policies are likely to drive the Nigerian power EPC market during the forecast period. The Nigerian power sector is dominated by thermal power generation, that too gas-fired, accounting for over 80% of the total power generation in the country. The transmission losses in Nigeria, across the network, are high at an average of approximately 8%-10%, compared to the emerging countries’ benchmarks of 2%-6%. This, in turn, the Nigerian government is approaching foreign investment for power plant infrastructure to full fill the demand of the country. Which is expected to propel the Nigerian power market during the forecast period. However, geopolitical tensions and the high fiscal deficit with a high inflation rate are expected to negatively impact the Nigerian power EPC market in the short term.

- Renewable energy is expected to dominate the Nigerian power EPC Market.
- Getting off-grid solutions to scale and commercial viability in Nigeria is expected to unlock an enormous market opportunity in sub-Saharan Africa across 350 million people in countries with smaller demand and less-robust economies. Which likely to support the Nigerian power EPC market in the coming future.
- Rapid rise in domestic demand led to increased electricity generation targets, which are likely to drive the Nigerian power EPC market during the forecast period.

Key Market Trends

Renewable energy to Dominate the Market

- The Nigerian power sector is dominated by thermal power generation (gas-fueled), accounting for about 80% of the total power generation in the country. However, the thermal industry is witnessing a slow growth, due to the inadequate infrastructure and disruptions in regular gas supply. Thus, the Nigerian government is focusing on renewable energy for electricity demand as the country has an abundance of various renewable energy resources, particularly solar, wind, biomass, and small hydropower (SHP).
- As of 2018, Nigeria’s solar photovoltaic (PV) installed capacity reached 19.085 MW, representing an increase of 26%, compared to the solar PV installed capacity in 2015. The Renewable Energy Master Plan was launched in 2011 to increase the share of renewable energy in the country by 10% by 2025, compared to 2%, in 2018.
- As of 2019, there were about 1436 MW of renewable power plants under construction, including the small hydropower plants. Solar power accounts for about 94% of the upcoming renewable power plants’ capacity.
- Furthermore, the country is expected to receive investment worth USD 165 million from the European Union (EU) for the country’s Renewable Energy Master Plan. This factor is expected to boost the development of several renewable energy projects in the coming years.
- Hence, upcoming projects, investments, and policies for renewable energy are expected to be the biggest and the most dominating driver for the Nigerian power EPC market during the forecast period.

Rapid Rise in Domestic Demand Likely to Drive the Market

- Nigeria is the largest economy in the African continent, with a GDP of USD 398,186 billion in 2018. However, its power sector is registering a lower growth rate, compared to the growth rate of its peer countries. About 40% of its population has no access to grid-connected electricity and those connected to the grid face extensive power outages.
- The country’s transmission infrastructure is grossly inadequate and is a key factor responsible for stranded generation capacity, a characteristic of the country’s electricity grid while demand is too high.
- The demand is driven by the growing population, high demand during summer, expanding industrial sector led by development in the petrochemical sector.
- Thus Nigerian government approved a loan amount of NGN 701 billion, demanded by the Nigerian Bulk Electricity Trading PLC (NBET) from the Central Bank of Nigeria (CBN) for expansion of old power plant. Moreover, the new 450 MW Azura-Edo power plant started production to increase the country’s generation capacity.
- Furthermore, the Ministry of Power, Works, and Housing had announced that the Rural Electrification Agency (REA), which has completed the guidelines for the operation of the Rural Electrification Fund (REF), where rural power developers would get from NGN 3.5 million to NGN 106 million to improve rural electricity. In addition, the private rural power developers, NGOs, and communities are likely to get a capital subsidy from NGN 3.5 million (about USD 10,000) to NGN 106 million (USD 300,000) to cover 75% of the project cost.
- Hence, as demand is rising, the country needs more power plants which is expected to increase in the epc services in power sector owing to government policies and foreign investment. This in turn, Nigeria power epc market is likely to propel during the forecast period.

Competitive Landscape

The Nigeria power EPC market is moderately fragmented due to many companies operating in the industry. The key players in this market include Nigerian Gas Company Limited, Nigeria Electricity Bulk Trading PLC, Afam Power Plc, Abuja Electricity Distribution Company PLC, JuNeng Nig Ltd, and others.

Reasons to Purchase this report:

- The market estimate (ME) sheet in Excel format
- 3 months of analyst support

1 INTRODUCTION
1.1 Scope of the Study
1.2 Market Definition
1.3 Study Assumptions

2 EXECUTIVE SUMMARY

3 RESEARCH METHODOLOGY

4 MARKET OVERVIEW
4.1 Introduction
4.2 Market Size and Demand Forecast in USD billion, until 2025
4.3 Recent Trends and Developments
4.4 Government Policies and Regulations
4.5 Market Dynamics
4.5.1 Drivers
4.5.2 Restraints
4.6 Supply Chain Analysis
4.7 PESTLE Analysis

5 MARKET SEGMENTATION
5.1 Type
5.1.1 Thermal
5.1.2 Gas
5.1.3 Renewable
5.1.4 Nuclear
5.1.5 Others

6 COMPETITIVE LANDSCAPE
6.1 Mergers & Acquisitions, Joint Ventures, Collaborations, and Agreements
6.2 Strategies Adopted by the Leading Players
6.3 Company Profiles
6.3.1 Nigerian Gas Company Limited
6.3.2 Nigeria Electricity Bulk Trading PLC
6.3.3 Afam Power Plc
6.3.4 Abuja Electricity Distribution Company PLC
6.3.5 JuNeng Nig Ltd
6.3.6 Gentec Epc Ltd.
6.3.7 Middle Band Solar One Limited
6.3.8 Alten EnergĂ­as Renovables

7 MARKET OPPORTUNITIES AND FUTURE TRENDS

SECONDARY RESEARCH
Secondary Research Information is collected from a number of publicly available as well as paid databases. Public sources involve publications by different associations and governments, annual reports and statements of companies, white papers and research publications by recognized industry experts and renowned academia etc. Paid data sources include third party authentic industry databases.

PRIMARY RESEARCH
Once data collection is done through secondary research, primary interviews are conducted with different stakeholders across the value chain like manufacturers, distributors, ingredient/input suppliers, end customers and other key opinion leaders of the industry. Primary research is used both to validate the data points obtained from secondary research and to fill in the data gaps after secondary research.

MARKET ENGINEERING
The market engineering phase involves analyzing the data collected, market breakdown and forecasting. Macroeconomic indicators and bottom-up and top-down approaches are used to arrive at a complete set of data points that give way to valuable qualitative and quantitative insights. Each data point is verified by the process of data triangulation to validate the numbers and arrive at close estimates.

EXPERT VALIDATION
The market engineered data is verified and validated by a number of experts, both in-house and external.

REPORT WRITING/ PRESENTATION
After the data is curated by the mentioned highly sophisticated process, the analysts begin to write the report. Garnering insights from data and forecasts, insights are drawn to visualize the entire ecosystem in a single report.

FAQs

Market research is a defined process to collect information about customers, competitors, and everything that a business needs to understand to sustain and grow. It offers important analysis to distinguish and examine the market needs, size, and trends. Market research is generally divided into, primary research and/or secondary research.

The process usually includes collection and interpretation of market data by using statistical and analytical techniques to support the decision making process.

The report helps in identifying and tracking emerging players in the market and their portfolios, enhances decision making capabilities and helps to create effective counter strategies to gain competitive advantage.

Market research reports provide in-depth analysis about the market conditions and requirements for effective decision making.
The report provides a snapshot of the global market size, segmentation data, marketing growth strategies, market share, export and import information, analysis and forecast of market trends, competition, domestic production, best sales prospects, statistical data, tariffs, regulations, distribution and business practices, end-user analysis, contact points and more.

These research reports include information about competitive strategies, solutions, fact-based research, key takeaways, recommendations, market considerations, emerging business models and market opportunities for multiple segments of an industry.

Market research reports assist in solving business problems and making better decisions to improve business as per the prevalent market trends.
When you place an order with MarketInsightsReports, we try our best to deliver the product as soon as possible. The report will be delivered to you either by email or by physical delivery. If it’s delivered by email the order will be dispatched on the same working day or on the next working day of receipt of payment (unless otherwise specified on our website). There may be exceptions to this if you place order on a non-working day specifically because our publisher partners are located all over the globe. In case of physical delivery report will be couriered to you within 3 working days from the date of the receipt of payment and delivery time will differ based on your location

Any person who has the capacity to make decisions for the business must buy the reports. These reports help management in decision making process. Market research helps person to obtain market information from different sources, and in multiple formats. It aims to study supply and demand, analyze data as per geography, age factors, demography, technology, product, psychographic & gender differences, and many other parameters. Access to in-depth market trends helps person to assess the market effectiveness. Some of the multiple techniques used for market research include customer analysis, choice modeling, competition and risk analysis, product research, advertising the research, marketing mix modeling, simulated test marketing, and more.
Market research studies several features of business environment, such as competitors, market structure, government regulations, economic trends, technological advances and financial analysis of companies, industries, and sectors. This helps person in the decision-making process of planning and implementing strategies for their markets.

The generation of research report is concerned by most clients when purchasing it. Following general steps are taken for generating reports.
1. Choose a topic.
2. Make skeleton catalogue.
3. Fill content. As for report content, there are two main information source, Primary and Secondary data collection. Secondary data collectionrefers to information searched from the Internet or data bought from database. Primary data collection refers to information concluded from telephone interview, face-to-face interview, expert’s interview, meeting etc.
4. Audit the report
5. Publish the report.

With regard to information cost, information searching costs the least, database support the second least, and telephone interview the third least. Face-face interview cost higher, in-depth interview much higher and expert interview the highest. A research may adopt all of these approaches, or just some of them.
In general, a good-quality research report needs 1-3 months to be finished. Time and method varies according to different Publishers. Thus, it’s difficult to define an exact procedure or process of making research report. Both time and cost vary. However, specialization has become a basic industry standard. Professional and dedicated products will be more and more popular.
MarketInsightsReports has focused on various fields such as Life Science, IT, Telecommunication, Food& Beverages, Energy & Power, Automotive & Transportation, Materials& Chemicals, Financial Services and many more. These market research reports are available for all regions around the globe.
When you place an order with MarketInsightsReports, we try our best to deliver the product as soon as possible. The report will be delivered to you either by email or by physical delivery. If it’s delivered by email the order will be dispatched on the same working day or on the next working day of receipt of payment (unless otherwise specified on our website).

There may be exceptions to this if you place order on a non-working day specifically because our publisher partners are located all over the globe. In case of physical delivery report will be couriered to you within 3 working days from the date of the receipt of payment and delivery time will differ based on your location

Please Choose License Type

USD $3250
USD $3750
USD $5000
USD $6500
Offer

Why Us

  • Why Us In-depth database
    Our Report’s database covers almost all topics of all regions over the Globe..
  • Recognised publishing sources Recognised publishing sources
    Tie ups with top publishers around the globe.
  • Customer Support Customer Support
    Complete pre and post sales support.
  • Safe & Secure Safe & Secure
    Complete secure payment process.