Battle for electric generator market widens as power supply dwindles
The battle for share in Nigeria’s electric generator market is seen getting tougher as Africa’s most populous nation along with 24 other countries have been identified as driving global generator sales to $34bn by 2024.
A new report by Global Market Insights released last week predicted that Nigeria is now estimated to surpass the generating set value importation of 75-375 KVA diesel valued at over $51 million (about N10 billion) imported into the country between 2014 and 2015.
Nigeria’s electricity supply fluctuates between 2,500 megawatts and 5,000 megawatts just as the Federal Government revealed that about 2,000 megawatts remain stranded due to poor transmission.
Last month Nigeria’s electric power grid reportedly collapsed over two times leading to widespread blackout across the country.
It was gathered that the collapse was due to a fire incident on the Escravos Lagos Pipeline System of the Nigerian Gas Processing and Transportation Company Limited.
With Nigerians still having to produce their own power, growing population in need of power, these developments no doubt make Nigeria one of the most attractive brides for generating set manufacturers which has heightened the battle for market and leadership share.
In order to get a hold on the market there have been influx of various sizes, colours and stylishly designed generators that suit consumers’ income bracket and taste.
Some of the generator brands competing for Industrial, commercial and residential consumers attention are Tigmax, Elepaq, Bosch, Yamaha, Sumec Hyundai, LG, Samsung, Polystar, Cummins, Sony, Hyundai, Pramac, Newclime, Mikano and others.
BusinessDay finding shows popular brands for low power electric generator sets in Nigeria include Mikano, Thermocool, Tiger, Elemax, Sumec Firman, Honda, and Hyundai.
Although these manufacturers depend on super distributors to reach their market audience which include retailers and unit sellers, BusinessDay findings show that consumers now seek out medium/large fanciful sets that give efficiency with durability at affordable prices.
Accordingly it was discovered that demands for small generators with the capacity for 2.5KVA of power to bigger ones that have key starters or remote is rising.
Also it was discovered that for household use, petrol powered generating set remains very popular among Nigerians.
Confidence Ibe who operates a restaurant in Apapa and uses an Elemac brand of generator said it has never disappointed her, as it powers her two big refrigerators, and other needed appliances.
For Ifeanyi Obi his attraction to the current generator he uses is sound. “I have been using this set for a year now and the sound has remained the same, although when I bought it I was instructed on how to use it, which I have followed religiously.” He however said that his next preferred brand will have to be able to save him fuel.
Uche Alozie, a distributor at the Alaba International, says Nigerians hardly buy the small size generators, except students.
Most Nigerians prefer the big/medium sized generators they can easily move about and can start with a key, last December most of the generators with such features were sold so easily.
“Nigerians naturally like something that will serve them for a long-time, however in recent times, most of the customers I get seem to go for portable fanciful generating set with high generating power,” Chukwuma Eze another distributor told BusinessDay.
DAVID IBEMERE