Nigeria Home Appliances Market is expected to grow with the CAGR of 3.3% in the forecast period of 2020 to 2027. The years considered for study are as mentioned below.

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Nigeria home appliances market is a highly consolidated market which includes specific number of key players as well as local players. The market has witnessed increased strategic developments owing to favourable market scenario.

The major players dealing in Nigeria home appliances market are introducing strong range of product portfolio. This helped companies to maximize the sales with enhanced product portfolio. For instance,

• In October 2019, SAMSUNG has launched interactive e- catalogue. The e-catalogue will enhance the experience of consumer with one more step towards a sustainable environment by SAMSUNG. This will reduced the printing cost of catalogue along with protection of the environment. This will ensure increase in sales and revenue of SAMSUNG with sustainable environment.

SAMSUNG is the dominating player in Nigeria home appliances market. The other key players existing in the home appliances market includes LG Electronics, Panasonic Corporation, Haier Group, Sony Corporation, Robert Bosch GmbH, Whirlpool Corporation, and Tiger Corporation among others.

SAMSUNG

SAMSUNG is headquartered in Seoul, South Korea and was established in 1969. The company is focusing on new advanced technologies in a way to create new and good quality products to contribute in the betterment of the society by the use of new technologies. The company deals in various business segments such as CE, IM, DS, Harman and others among which CE is the market focused segment. The company offers various      products under categories such as galaxy 5G, mobile, TV & audio, home appliances, smart home and computing among which home appliances is the market focused category.

For instance,

• In December 2019, SAMSUNG has launched a new product 5 star direct cool single door refrigerator. The product is based on 2020 energy ratings. The new product launched by SAMSUNG is equipped with advanced compressor that ensures high efficiency and reduced running time with digital inverter technology. This will increase the efficiency of the product with rise in sales and revenue.

The company has wide global presence across the globe such as in Asia-Pacific, Europe, Middle East and Africa, Latin America and North America. The company generates its revenue through various subsidiaries such as Samsung Electronics (South Korea), Samsung Biologics (South Korea), Samsung Heavy Industries (South Korea), Samsung C&T Corporation (South Korea), Cheil Worldwide (South Korea), and Samsung Electro-Mechanics (South Korea) among others.

LG Electronics

LG Electronics founded in 1958 and is headquartered in Seoul, Korea. The company is engaged in the manufacturing of wide range of products to offer optimum solutions and new experience to the customers with different and new innovations. The company is exploring new activities with manufacturing of different products such as Home Appliance & Air Solution, Home Entertainment, Mobile Communications, Vehicle Component Solutions, and Business Solutions with Home Appliance & Air Solution as market focused segment.

For instance,

• In December 2019, LG Electronics has launched air fry and Insta view technology to connect ovens. The new range of microwaves will create delicious and guilt free food. The microwaves have lights installed inside to check the process of working of the oven. This will help to have more market share that will increase the sales and revenue values.

The company has wide global presence across the globe such as Asia-Pacific, Europe, Middle East and Africa, Americas, CIS. The company generates its revenue through various subsidiaries such as LG Uplus Corp (South Korea), LG Display Co. (South Korea), LG Chem (South Korea), LG Household & Health Care (South Korea), Zenith Electronics (U.S.), GIIR (South Korea), LG Hitachi Ltd. (Korea), S and I Cm Poland Sp Z o. o (Poland), S and I Vietnam construction Co.,Ltd (Vietnam), LG CNS Malaysia Sdn Bhd (Malaysia) among others.

Haier Group:

Haier Group is headquartered in Qingdao, China and was established in 1984. The company focuses on solutions for innovation and entrepreneurship with aim of “prioritizing people’s life”. The company is a leading solution provider for home appliances products. The company offers various products under categories such as household and business among which household is the market focused category.

For instance,

• In August 2020, Haier Thailand won the award “BUSINESS+” for product innovation for differentiated health advantages from Navi cooling Refrigerator and Purify Cool VIP Air Conditioner. The product has advantages related to health concerns with precise temperature control units. This will increase the sales and revenue of Haier.

The company has wide global presence across the globe such as in Asia-Pacific, Europe, Middle East and Africa, Latin America and North America. The company generates its revenue through various subsidiaries such as Fisher & Paykel Healthcare Limited (New Zealand), Candy Hoover Group Srl (Italy), Haier America Company, LLC (U.S.), Qingdao Haier Household Integration Co., Ltd (China), PT. SANYO Sales (Indonesia), GREENoneTEC Solarindustrie GmbH (Germany) and others.