The report titled “Nigeria Warehousing Market Outlook to 2023 – By Operational Model, Open and Closed, End Users, Regulated and Unregulated, Regions, Integrated and Contract Warehouses” provides a comprehensive analysis of the Warehousing market in Nigeria. The report covers the overall size and future outlook of the Nigeria warehousing market in terms of value and segmentation on the basis of service mix, by region and ownership. The report also covers the competitive landscape and company profiles of major Warehousing companies. The report concludes with market projections for future and analyst recommendations highlighting the major opportunities and challenges.
Nigeria Warehousing Market Overview and Size
Nigeria warehousing market was evaluated to grow robustly during the period 2013-2018. The growth was mainly due to an increase in international trade volumes, market entry of international players, growing e-commerce market and building new manufacturing units and industries in Nigeria in order to make the country self-reliant. Sustained efforts have been taken by the government along with the Chinese government for developing free trade zone areas and industrial parks in the country. Major investment by foreign companies has driven the overall warehousing market in the country.
Nigeria Warehousing Segmentation by End User
The Food and beverage industry has been dominating the end-user segment due to the increasing trade of food products with Asian and European countries and the growing middle-class population in the country. Nigeria has set up the Automotive Industry Development Plan to set up more automation industries in Nigeria. The E-commerce sector has been developing in the country and attracting a lot of customers. Emergence of supermarkets and other stores is even contributing to the growing retail market in the country. The Nigerian government and private companies are contributors to the increase in demand for cold storage for agricultural and pharmaceutical drugs and medicines.
Nigeria Warehousing Segmentation by Type of Warehouse
Open yards and warehouses are less in number in Nigeria. However, the government is finding investors for building new structures near the ports that will reduce inefficiency in the trade. Closed warehousing space includes closed normal warehouses, temperature-controlled warehouses ranging from palletized warehouses for stacking their goods with all automation facilities to normal godowns. It even includes the cold storages that are currently less leading to wastage of agricultural products in the market.
Nigeria Warehousing Segmentation by Contract and Integrated Warehouses
In Nigeria, small and medium players lease out their warehousing requirements due to a shortage of good quality warehouses and huge capital requirements. Contractual logistics is highly prevalent in the e-commerce industry and cold chain warehousing where the cost of building and maintaining such warehouses is high.
Nigeria Warehousing Segmentation by Operational Model
The Industrial/Retail segment has dominated Nigeria warehousing market with massive revenue in the year 2018. Industrial parks and free trade zones are driving the growth of industrial warehouses.CFS/ICD warehousing contributes a lesser market share even if it is an import driven country. Cold Storage warehousing has increased over the years with the rising requirement of temperature-controlled products for the agricultural goods, seafood and pharmaceutical industry by the government and private companies. However, it is still at the infancy stage and thus doesn’t contribute much as of now in terms of revenue.
Nigeria Warehousing Segmentation by Region
Lagos has been the commercial hub of the country and the most prime location in terms of trade and logistics due to the proximity to the major seaports, airports and industrial parks in the country. Other warehousing hotspots include Ogun state near Lagos, Kano, Ibadan, Kaduna near Abuja and Nassaraw. With over congestion in the prime regions, investors and logistics companies are now seeking to shift to nearer less congested areas near Lagos and cheaper alternatives.
Nigeria Warehousing Segmentation by Market structure
Around 60% of the warehouses are strictly regulated in Nigeria under by NAFDAC due to poor warehousing standards and rising smuggled goods in the market. They manage and approve the warehouses according to their set standard rules and regulations.
Competitive Scenario in Nigeria Warehousing Market
The market is fragmented and full of godowns and unstructured warehouses that don’t have full-fledged facilities and automation. Godowns are usually individual owned that offer third-party services to international logistics firms. Various competition parameters of warehousing effectiveness are the cost of warehousing, area, and capacity, modern technological equipment, CCTV, Security and proximity to the airport, seaport and railways. The warehouses that are near to Lagos are generally charged higher then other places due to its strategic location.
Nigeria Warehousing Market Future Outlook and Projections
Nigeria warehousing market is projected to grow during the forecast period 2018-2023 owing to the country’s vigorous infrastructural plans. The key growth drivers will be the upcoming manufacturing units of the products that have been banned to import, an increasing number of supermarkets and retail stores. The increasing international trade volumes, growing industrial parks in the free trade zones and dry ports are expected to increase the demand for freight forwarding and warehousing services. The growing pharmaceutical industry and government support to increase agricultural products will increase the demand for cold storage industries in the future.
Key Segments Covered:-
Nigeria Warehousing Market
Revenue by Business Model
Industrial/Retail
CFS/ICD
Cold storage and Agriculture
Revenue by Region
Lagos
Kano
Kaduna
Ogun
Nassaraw
Others
Revenue by Type of Warehouses
Open warehouse
Closed warehouse
Revenue by Contract and Integrated warehouses
Contract warehouses
Integrated warehouses
Revenue by End User
Food and Beverages
Automotive
Consumer retail
Health care
Others (Agricultural products and other perishable commodities)
Revenue by Market Structure
Regulated
Unregulated
Companies Covered:-
DHL
Bollore Transport and Logistics
UPS (United Postal Services)
GMT Logistics
MDS logistics
Key Target Audience
Warehousing Companies
3PL Companies
Consultancy Companies
Real estate companies
E-commerce players
Time Period Captured in the Report:-
Historical Period – 2013-2018
Forecast Period – 2019-2023E
Key Topics Covered in the Report:-
Nigeria Warehousing Market Overview
Nigeria Warehousing Market Size
Nigeria Warehousing Market Segmentation
Competitive Scenario in Nigeria Warehousing Market
Company Profiles of Major Players in Nigeria Warehousing Market
Nigeria Warehousing Market Future Outlook and Projections
Nigeria Warehousing Future Market Size
Nigeria Warehousing Market Future Segmentation
Analyst Recommendations on Nigeria Warehousing Market
For More Information, Refer To Below Link:-
Nigeria Warehousing Market Outlook to 2023
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