The Nigeria Tire Market is Projected to Grow at a CAGR of 2.4% During 2019-2025
Nigeria tire market witnessed moderate growth in recent years on account of sluggish economic growth and political instability in the country. However, rising automotive manufacturing and assembly in the country would drive the tire market in Nigeria during the forecast period.
According to this research, the Nigeria Tire Market is projected to grow at a CAGR of 2.4% during 2019-2025. Majority of the motor vehicles entering the Nigerian automotive market are used vehicles from Europe and U.S.A. and thus, the Nigerian tire market is driven by the demand for replacement tires. Two-wheeler tires captured majority of the volume share in the Nigeria tire market due to high popularity of the two wheelers in the country and a shorter life of two-wheeler tires when compared to tires in other segments. However, truck and buses tire segment had the highest revenue share owing to higher prices and prominent use of commercial and public transport by the Nigerian citizens.
Based on types, radial tyres dominated the Nigeria tire market due to certain advantages such as higher fuel-efficiency and longer life offered by them. Some of the key players in Nigeria tire market are Goodyear, Pirelli, Continental, Bridgestone, Michelin and Chinese players.
The report comprehensively covers the market by types, vehicle types and end users. The report provides an unbiased and detailed analysis of the on-going market trends, opportunities/high growth areas, market drivers which would help the stakeholders to device and align their market strategies according to the current and future market dynamics.
Key highlights of the report
- Historical Data of Nigeria Tire Market Revenues & Volume for the Period 2016-2018
- Nigeria Tire Market Size and Nigeria Tire Market Forecast of Revenues & Volume until 2025F
- Historical Data of Nigeria Tire Market Revenues & Volume for the Period 2016-2018, By Vehicle Types.
- Market Size & Forecast of Nigeria Tire Market Revenues & Volume until 2025F, By Vehicle Types
- Historical Data of Nigeria Tire Market Revenues & Volume for the Period 2016-2018, By End Users
- Market Size & Forecast of Nigeria Tire Market Revenues & Volume until 2025F, By End Users
- Historical Data of Nigeria Tire Market Revenues & Volume for the Period 2013-2018, By Types
- Market Size & Forecast of Nigeria Tire Market Revenues & Volume until 2025F, By Types
- Nigeria Tire Market Drivers and Restraints
- Nigeria Tire Market Trends and Industry Life Cycle
- Porter’s Five Force Analysis
- Market Opportunity Assessment
- Market Share, By Regions
- Market Share, By Companies
- Competitive Benchmarking
- Company Profiles
- Key Strategic Recommendations
Markets Covered
The report provides a detailed analysis of the following market segments:
By Vehicle Types
- Truck and Bus Tires
- Light Truck Tires
- Passenger Car Tires
- Two-Wheeler Tires
By End Users
- OEM (Original Equipment Manufacturer)
- Replacement
By Types
- Radial Tires
- Bias Tires
Table of Contents
1. Executive Summary
2. Introduction
2.1. Report Description
2.2. Key Highlights of the Report
2.3. Market Scope & Segmentation
2.4. Research Methodology
2.5. Assumptions
3. Nigeria Tire Market Overview
3.1. Nigeria Country Indicators
3.2. Nigeria Tire Market Revenues & Volume, 2016-2025F
3.3. Nigeria Tire Market - Industry Life Cycle, 2018
3.4. Nigeria Tire Market - Porter’s Five Force Model
4. Nigeria Tire Market Dynamics
4.1. Impact Analysis
4.2. Market Drivers
4.3. Market Restraints
5. Nigeria Tire Market Overview, By End User
5.1. Nigeria Tire Market Revenues and Volume Share, By End User, 2018 & 2025F
5.2. Nigeria Tire Market Revenue and Volume, By End User, 2016-2025F
5.2.1 Nigeria Tire Market Revenue and Volume, By OEM, 2016-2025F
5.2.2 Nigeria Tire Market Revenue and Volume, By Replacement, 2016-2025F
6. Nigeria Tire Market Overview, By Vehicle Types
6.1. Nigeria Tire Market Revenue and Volume Share, By Vehicle Types, 2018 & 2025F
6.2. Nigeria Passenger Car Tire Market Revenues and Volume, 2016-2025F
6.3. Nigeria Truck and Bus Tire Market Revenues and Volume, 2016-2025F
6.3.1. Nigeria Truck and Bus Tire Market Revenue and Volume Share, By Types, 2018 & 2025F
6.3.1.1. Nigeria Truck and Bus Tire Market Revenues and Volume, By Types, 2016-2025F
6.3.1.1.1 Nigeria Truck and Bus Radial Tire Market Revenue and Volume, 2016-2025F
6.3.1.1.2 Nigeria Truck and Bus Bias Tire Market Revenue and Volume, 2016-2025F
6.4. Nigeria Light Truck Tire Market Revenues and Volume, 2016-2025F
6.4.1. Nigeria Light Truck Tire Market Revenue and Volume Share, By Types, 2018 & 2025F
6.4.1.1. Nigeria Light Truck Tire Market Revenues and Volume, By Types, 2016-2025F
6.3.1.1.1 Nigeria Light Truck Radial Tire Market Revenue and Volume, 2016-2025F
6.3.1.1.2 Nigeria Light Truck Bias Tire Market Revenue and Volume, 2016-2025F
6.5. Nigeria Two Wheeler Tire Market Revenues and Volume, 2016-2025F
7. Nigeria Tire Market Key Performance Indicators
7.1 Malaysia Government Spending Outlook
7.2 Malaysia Automotive Sector Outlook
8. Nigeria Tire Market Opportunity Assessment
8.1. Nigeria Tire Market Opportunity Assessment, By Vehicle Types, 2025F
8.2. Nigeria Tire Market Opportunity Assessment, By End User, 2025F
9. Nigeria Tire Market-Competitive Landscape
9.1. Nigeria Tire Market Competitive Benchmarking, By Vehicle Types
9.2. Nigeria Tire Market Revenue Share, By Companies, 2018
10. Company Profiles
10.1. Bridgestone Middle East & Africa FZE
10.2. Triangle Tyre Co. Ltd.
10.3. MRF Limited
10.4. The Goodyear Tire & Rubber Company
10.5. Continental AG
10.6. The Yokohama Rubber Co., Ltd.
10.7. General Company Establishment Michelin
10.8. Maxxis International - Middle East and Africa
10.9. Pirelli & C. S.p.A.
11. Key Strategic Recommendations
12. Disclaimer
List of Figures
Figure 1. Nigeria Tire Market Revenues and Volume, 2016-2025F ($ Million, Million Units)
Figure 2. Nigeria Tire Market Revenue Share, By End Users, 2018 & 2025F
Figure 3. Nigeria Tire Market Volume Share, By End Users, 2018 & 2025F
Figure 4. Nigeria Tire Market Revenues and Volume, By OEM, 2016-2025F ($ Million, Million Units)
Figure 5. Nigeria Tire Market Revenues and Volume, By Replacement, 2016-2025F ($ Million, Million Units)
Figure 6. Nigeria Tire Market Revenue Share, By Vehicle Types, 2018 & 2025F
Figure 7. Nigeria Tire Market Volume Share, By Vehicle Types, 2018 & 2025F
Figure 8. Nigeria Passenger Car Tire Market Revenues and Volume, 2016-2025F ($ Million, Million Units)
Figure 9. Nigeria Truck and Bus Tire Market Revenues and Volume, 2016-2025F ($ Million, Million Units)
Figure 10. Nigeria Truck and Bus Tire Market Revenue Share, By Types, 2018 & 2025F
Figure 11. Nigeria Truck and Bus Tire Market Volume Share, By Types, 2018 & 2025F
Figure 12. Nigeria Radial Truck Tire Market Revenues and Volume, 2016-2025F ($ Million, Million Units)
Figure 13. Nigeria Bias Truck Tire Market Revenues and Volume, 2016-2025F ($ Million, Million Units)
Figure 14. Nigeria Light Truck Tire Market Revenues and Volume, 2016-2025F ($ Million, Million Units)
Figure 15. Nigeria Light Truck Tire Market Revenue Share, By Types, 2018 & 2025F
Figure 16. Nigeria Light Truck Tire Market Volume Share, By Types, 2018 & 2025F
Figure 17. Nigeria Radial Light Truck Tire Market Revenues and Volume, 2016-2025F ($ Million, Million Units)
Figure 18. Nigeria Bias Light Truck Tire Market Revenues and Volume, 2016-2025F ($ Million, Million Units)
Figure 19. Nigeria Two Wheeler Tire Market Revenues and Volume, 2016-2025F ($ Million, Million Units)
Figure 20. Nigeria Actual Government Spending Vs Actual Government Revenues, 2015-2024F (Naira Trillion)
Figure 21. Nigeria Tire Market Opportunity Matrix, By Vehicle Type, 2025F
Figure 22. Nigeria Tire Market Opportunity Matrix, By End User, 2025F
Figure 23. Kenya Tire Market Revenue Share, By Company, 2018
Figure 24. Tire Market - Ansoff Matrix
List of Tables
Table 1. Nigeria Vehicle Sales Data, 2016-18 (Units)
Samples
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Companies Mentioned
- Bridgestone Middle East & Africa FZE
- Continental AG
- General Company Establishment Michelin
- Maxxis International – Middle East and Africa
- MRF Limited
- Pirelli & C. S.p.A.
- The Goodyear Tire & Rubber Company
- The Yokohama Rubber Co., Ltd.
- Triangle Tyre Co. Ltd.
Methodology
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