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Nigeria Tire Market Size, Growth, Share and Competitive Landscape - 2030

  • Writer: Amit Kumar
    Amit Kumar
  • 1 day ago
  • 5 min read

Markntel Advisors’ report, Nigeria Tire Research Report: Trend, Business Growth, Size, Future Scope, Segmentation, Dynamics, and Forecast to 2030, offers a comprehensive guide for the growing industry. The expert team of analysts dedicated significant effort to gathering and evaluating the latest market data, resulting in a detailed and up-to-date report that offers valuable insights for individuals who rely on data-driven decisions, including business owners and analysts. The research report on the Nigeria Tire presents well-researched facts and figures pertinent to the industry, whether the goal is to explore new markets, launch a new product, or maintain a competitive advantage.

Nigeria Tire Market Research Report & Market Summary:

The Nigeria Tire Market is estimated to grow at a CAGR of around 3.45% during the forecast period, i.e., 2025-30. The growth of the industry is driven mainly by the rise in the vehicle fleet in Nigeria because of the paradigm shift of people towards private ownership of vehicles for transportation that is making a direct impact on the demand for tire in Nigeria. Also, the rising preference for second-hand cars among the lower and middle-class income population is playing an important role in the repair and replacement of tires.

If you’re interested in the assumptions considered in this study, you can download the PDF brochure-  https://www.marknteladvisors.com/query/request-sample/nigeria-tire-market-analysis.html

Nigeria Tire Market Dynamics:

Key Driver-

Rising Traffic Congestion & the Increased Use of Two-wheelers by Urban Residents and Enterprises Boosts the Market Growth- The Nigeria Tire Market is mainly driven by the increasing congestion of traffic and increased usage of two-wheelers by urban residents and enterprises. The rising problem of traffic congestion in Nigerian cities has become a major issue in recent years. Consequently, people in the cities are turning to substitute modes of transportation like two-wheelers in order to traffic congestion. As more individuals use scooters and motorbikes to navigate traffic congestion, the number of these vehicles on the road increases. The growth in the usage of two-wheelers increases the demand for tires, both for new vehicles and replaced worn-out tires.

Furthermore, the two-wheeler industry in Nigeria has grown rapidly, primarily in the commercial sector. There are several countries in the countries that have started providing shared mobility services on two-wheelers. As a result, a surge in the adoption of two-wheelers for commercial applications, sales have increased notably across the country. Therefore, the demand for two-wheeler tires has increased in Nigeria. Thus, it is anticipated that the size and volume of the Nigeria Tire Market will increase in the upcoming years as well.

Nigeria Tire Market Segmentation Analysis:

According to MarkNtel study the market is segmented into the following categories:

By Type of Vehicles

  • Passenger Car- Market Size & Forecast 2020-2030, Thousand Units

  • Light Commercial Vehicle- Market Size & Forecast 2020-2030, Thousand Units

  • Medium and Heavy Commercial Vehicles- Market Size & Forecast 2020-2030, Thousand Units

  • Off the Road (OTR) - Market Size & Forecast 2020-2030, Thousand Units

  • Two Wheelers- Market Size & Forecast 2020-2030, Thousand Units

Here, Passenger Cars are anticipated to lead the tire market of Nigeria by occupying a prominent share. It is accredited mainly to the improving economic conditions of the people, transforming living conditions, and rising buying powers, i.e., displaying a rising inclination of people towards private vehicle ownership for their transportation requirements.

By Demand Category

  • OEM- Market Size & Forecast 2020-2030, Thousand Units

  • Aftermarket- Market Size & Forecast 2020-2030, Thousand Units

Among these, the Replacement segment held the maximum share of the Nigeria Tire Market in the historical period and is estimated to maintain its dominance in the projected years i.e., 2025-30. It owes mainly to the rising awareness among vehicle owners about the advantages and requirements for timely inspection & maintenance of their vehicles & tires for durability, safety, and efficiency, i.e., surging the demand for replacement tires and fueling the overall expansion of the industry.

By Type of Tire

  • Radial- Market Size & Forecast 2020-2030, Thousand Units

  • Bias- Market Size & Forecast 2020-2030, Thousand Units

By Sales Channel

  • Direct Sales- Market Size & Forecast 2020-2030, Thousand Units

  • Exclusive Outlets & Multi-brand Stores- Market Size & Forecast 2020-2030, Thousand Units

  • Online- Market Size & Forecast 2020-2030, Thousand Units

By Price Category

  • Budget- Market Size & Forecast 2020-2030, Thousand Units

  • Economy- Market Size & Forecast 2020-2030, Thousand Units

  • Premium- Market Size & Forecast 2020-2030, Thousand Units

By Tire Size

  • Tire Size 1- Market Size & Forecast 2020-2030, Thousand Units

  • Tire Size 2 - Market Size & Forecast 2020-2030, Thousand Units

  • Tire Size 3 - Market Size & Forecast 2020-2030, Thousand Units

  • Tire Size 4 - Market Size & Forecast 2020-2030, Thousand Units

  • Tire Size 5 - Market Size & Forecast 2020-2030, Thousand Units

By Region

  • East

  • West

  • North

  • South.

As indicated in the latest market research report published by Markntel Advisors, “Nigeria Tire Research Report: Forecast (2025-2030)”, this report offers a detailed analysis of the industry, featuring insights into the Nigeria Tire industry. It encompasses competitor and geographical analyses, as well as recent advancements in the market.

Top Companies Operating in the Nigeria Tire Market:

  • Continental AG

  • Bridgestone Corporation

  • Pirelli & C. S.p.A.

  • Yokohama Rubber Company Limited

  • Hankook Tire Co., Ltd.

  • Goodyear Tire & Rubber Company

  • Zhongce Rubber Group

  • Michelin Group

  • Kumho Tire

  • Triangle Tyre Co


Reports Delivery Format - Market research studies from MarkNtel Advisors are offered in PDF, Excel, and PowerPoint formats. Within 24 hours of the payment being successfully received, the report will be sent to your email address

Other Report:

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  • Explore the Global Precipitated Calcium Carbonate Market, valued at USD08Billion in 2023 and projected to reach USD 3.56 Billion by 2030. Anticipated to grow at a CAGR of 8.85%, driven by rising demand in pharmaceuticals, cosmetics, and packaging.

Key Report Highlights:

  • Market Dimensions & Projections

  • Pricing Evaluation,

  • Recent Strategic Moves by Companies,

  • Primary Stakeholders,

  • Analysis of Import and Export Trends,

  • Competitive Landscape Assessment,

  • Emerging Opportunities,

  • Market Trends and Indicators

Note - If there are any particular details you need that are not currently included in the report, we will be happy to provide them as part of our customization services.

Frequently Asked Questions (FAQs)-

  1. What are the industry’s overall statistics or estimates (Overview, Size- By Value, Forecast Numbers, Segmentation, Shares)?

  2. What are the trends influencing the current scenario of the market?

  3. What leading factors would propel and impede the industry across the geography?

  4. How has the industry been evolving in terms of geography & Nigeria Tire Market adoption?

  5. How has the competition been shaping up across the geography?

  6. Who are the key competitors, and what strategic partnerships or ventures are they coming up with to stay afloat during the projected time frame?

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