Nigeria Tire Market, By Vehicle Type, By Tire Type (Radial vs Bias) By Demand Category Type (OEM vs Replacement), By Rim Size Type, By Selling Platform Type (Online vs Offline), Competition, Forecast & Opportunities, 2025F

The Nigerian Tire Market is expected to grow from around $ 443 million in 2019 to over USD540 million by 2025.The major factors responsible for the rising sales of tires include growing vehicle fleet size, lack of public transport and growing preference of two-wheeler as mode of transportation. The automobile sector of the country has been witnessing various setbacks over the last couple of years. Major reason for slowdown of the automotive sector was due to several macroeconomic challenges, such as currency fluctuations and declining global oil prices, that affected the Nigerian economy, consequently impacting the country’s automobile industry.

However, the Government of Nigeria has introduced several reforms and favorable policies to safeguard the automotive sector of the country. The Nigerian Tire Market is segmented based on vehicle type, tire type, demand category type, rim size type, regional share and company. The vehicle type segment is divided into passenger car, commercial vehicle, two-wheeler, off the road vehicles.

Chinese brands play a major role in the Nigerian Tire Market due to to their easy availability at cheaper prices in comparison to other global brand tires, such as Bridgestone, Goodyear, Michelin, etc. The tire brands are working on new products development, and capacity expansion in order to meet the growing demand.

Years considered for this report:
Historical Years: 2015-2018
Base Year: 2019
Estimated Year: 2020
Forecast Period: 2021-2025

Objective of the Study:

• To analyze and forecast the market size of the Nigerian Tire Market.
• To classify and forecast the Nigerian Tire Market based on Vehicle type, Tire type, Demand category type, Rim size type, Selling Platform type, company and regional distribution.
• To identify drivers and challenges for the Nigerian Tire Market.
• To examine competitive developments such as expansions, new product launches, mergers & acquisitions, etc., in the Nigerian Tire Market.
• To conduct pricing analysis of the Nigerian Tire Market.
• To identify and analyze the profile of leading players operating in the Nigerian Tire Market.

Some of the leading players in the Nigerian Tire Market are Michelin, Goodyear, Bridgestone, Dunlop, Continental, Bf Good Rich, and various Chinese players like Infinity, Firestone, etc. Both primary as well as exhaustive secondary research were performed for this study. In order to perform the study, primary as well as exhaustive secondary research was conducted. Initially, TechSci Research prepared an exhaustive list of tire dealers and distributors operating in different regions of Nigeria. Subsequently, primary research surveys, which included primary calls, email responses, etc., with the identified companies were conducted. While interviewing, the respondents were also asked about their major competitors. Through this technique, TechSci Research was able to include distributors/dealers which could not be identified due to the limitations of secondary research could be included. TechSci Research analyzed product offerings, distribution channels and regional presence of all major tire distributors across the country.

TechSci Research calculated the Nigerian Tire Market size was calculated by using a bottom-up approach, where data for various end-user segments was recorded and forecast for the future years. These values were sourced from the industry experts and company representatives and externally validated through analyzing historical data of these product types and applications for getting an appropriate, overall market size. Various secondary sources such as company websites, news articles, press releases, company annual reports, investor presentations and financial reports were also studied.

Key Target Audience:

• Tire manufacturers, suppliers, distributors and other stakeholders
• Government bodies such as regulating authorities and policy makers
• Organizations, forums and alliances related to tire market
• Market research and consulting firms

The study is useful in providing answers to several critical questions that are important for the industry stakeholders such as manufacturers, suppliers and partners, end-users, etc., besides allowing them in strategizing investments and capitalizing on the market opportunities.

Report Scope:

In this report, tire market has been segmented into following categories, in addition to the industry trends which have also been detailed below:

Market, by Vehicle Type:

• Passenger Car
• Commercial vehicle
• Two-Wheeler
• Off the Road Vehicles

Market, by Tire Type:

• Radial
• Bias

Market, by Demand Category:

• OEM
• Replacement

Market, by Rim Size:

• Up to 15 Inch
• 16 To 20 Inch
• Above 20 Inch

Market, by Selling Platform:

• Online
• Offline

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in the Nigerian Tire Market.

Available Customizations:

With the given market data, the publisher offers customizations according to a company’s specific needs. The following customization options are available for the report:

Company Information

Detailed analysis and profiling of additional market players (up to five).

Please note: With the Enterprise license, the PDF product is printable and editable and comes with a market data excel sheet.