Market Insights Consumer Household Appliances Major Appliances

Washing Machines - Nigeria

Nigeria

In 2024, the revenue generated by the Washing Machines market in Nigeria amounts to US$1.18bn.
This market is projected to grow annually by 6.54%, representing a Compound Annual Growth Rate (CAGR) for the period 2024-2029.
In comparison to other countries, in China generates the highest revenue in the Washing Machines market, reaching US$17,120m in 2024.
When considering the total number of households, the per household revenue Nigeria's Washing Machines market is US$26.27 in 2024.
Looking ahead to 2029, the volume of Washing Machines market sold in Nigeria is expected to reach 2.8m pieces units.
Additionally, there is a projected volume growth of 4.9% units in 2025.
On average, each household Nigeria's Washing Machines market is expected to have a volume of 0.05pieces units in 2024.
Nigeria's washing machine market is experiencing a surge in demand due to increased urbanization and the growing middle class.

Key regions: India, Japan, Worldwide, Europe, Germany

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Methodology

Data coverage:

The data encompasses B2C enterprises. Figures are based on consumer spending on Household Appliances.

Modeling approach:

Market sizes are determined through a bottom-up approach, building on specific predefined factors for each market segment. As a basis for evaluating markets, we use annual financial reports of the market-leading companies and industry associations, trade data, national statistical office data, third-party studies and reports, survey results from our primary research (e.g., the Statista Consumer Insights Global Survey), as well as performance factors. In addition, we use relevant key market indicators and data from country-specific associations, such as number of households, consumer spending, and price level index. This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques, such as exponential trend smoothing, for instance. The selection of forecasting techniques is based on the behavior of the relevant market.

Additional notes:

The data is modeled using current exchange rates. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. The market is updated twice a year. In some cases, the data is updated on an ad hoc basis (e.g., when new, relevant data has been released or significant changes within the market have an impact on the projected development). Survey data is reweighted for representativeness.