Market Size for Lightning Arresters, Voltage Limiters and Surge Suppressors for over 1000 V in Nigeria - 2022
Lightning Arresters, Voltage Limiters and Surge Suppressors for over 1000 V Consumption in Nigeria - 2022
In 2022, consumption of lightning arresters, voltage limiters and surge suppressors for over 1000 v decreased by -63.6% to 6.3M units for the first time since 2016, thus ending a five-year rising trend. Over the period under review, consumption, however, showed a significant expansion. Over the period under review, consumption of hit record highs at 17M units in 2021, and then fell rapidly in the following year.
The size of the market for lightning arresters, voltage limiters and surge suppressors for over 1000 v in Nigeria reduced sharply to $17M in 2022, shrinking by -59.2% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers margins, which will be included in the final consumer price). Overall, consumption, however, saw significant growth. Over the period under review, the market attained the maximum level at $41M in 2021, and then shrank rapidly in the following year.
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