The Nigeria Tire Market size is estimated to grow at a CAGR of around 3.45% during the forecast period, i.e., 2025-30. According to MarkNtel Advisors Study.
Nigeria Tire Market 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.
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Key Market Reports Highlights
- Market Dimensions & Projections
- Pricing Evaluation
- Recent Strategic Moves by Companies
- Primary Stakeholders
- Import/Export Trend Analysis
- Competitive Landscape Assessment
- Emerging Opportunities
- Market Trends and Indicators
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Nigeria Tire Market Segmentation:
The market report categorizes the market based on different segments and geographical analysis.
Study Timeline:
-Base Year: 2024
-Historical Period: 2020 to 2023
-Forecast Period: 2025 to 2030
- 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
- By Demand Category
- OEM- Market Size & Forecast 2020-2030, Thousand Units
- Aftermarket- Market Size & Forecast 2020-2030, Thousand Units
- 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
Competitive Landscape
With strategic initiatives, such as mergers, collaborations, and acquisitions, the leading market companies, including – Continental AG, Bridgestone Corporation, Pirelli & C. S.p.A., Yokohama Rubber Company Limited, Hankook Tire Co., Ltd., Goodyear Tire & Rubber Companyl, Zhongce Rubber Group, Michelin Group, Kumho Tire, and Triangle Tyre Co. are looking forward to strengthening their market positions.
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