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Nigeria Tire Market Forecast and Opportunities, 2021

1. Product Overview
2. Research Methodology
3. Analyst View
4. Nigeria Tire Market Outlook
4.1. Market Size & Forecast
4.1.1. By Value & Volume
4.2. Market Share & Forecast
4.2.1. By Vehicle Type
4.2.2. By Tire Type (Radial vs Bias)
4.2.3. By Company
4.2.4. By Region
4.2.5. Market Attractiveness Index – By Vehicle Type
5. Nigeria Passenger Car Tire Market Outlook
5.1. Market Size & Forecast
5.1.1. By Value & Volume
5.2. Market Share & Forecast
5.2.1. By Vehicle Type
5.3. Popular Sizes
6. Nigeria Two Wheeler (2W) Tire Market Outlook
6.1. Market Size & Forecast
6.1.1. By Value & Volume
6.2. Market Share & Forecast
6.2.1. By Vehicle Type
6.3. Popular Sizes
7. Nigeria Commercial Vehicle Tire Market Outlook
7.1. Market Size & Forecast
7.1.1. By Value & Volume
7.2. Market Share & Forecast
7.2.1. By Vehicle Type
7.3. Popular Tire Sizes
8. Nigeria Three Wheeler Tire Market Outlook
8.1. Market Size & Forecast
8.1.1. By Value & Volume
8.2. Market Share & Forecast
8.2.1. By Vehicle Type
8.3. Popular Tire Sizes
9. Nigeria Off-the-Road (OTR) Tire Market Outlook
9.1. Market Size & Forecast
9.1.1. By Value & Volume
9.2. Market Share & Forecast
9.2.1. By Vehicle Type
9.3. Popular Tire Sizes
10. Import Analysis
11. Market Dynamics
11.1. Drivers
11.2. Challenges
12. Market Trends & Developments
12.1. Increasing Chinese Tire Penetration
12.2. Used Cars Overtaking New Car Market
12.3. Low Penetration of Retread Tires
12.4. Passenger Car Tire Segment - Fastest Growing Segment
12.5. Growing Radial Tire Market
13. Policy & Regulatory Landscape
14. Nigeria Economic Profile
15. Competitive Landscape
15.1. Michelin Tyre Services Company Ltd.
15.2. Bridgestone Corporation
15.3. Goodyear Tire & Rubber Company
15.4. Hankook Tire Co. Ltd.
15.5. Continental AG
15.6. Pirelli & C. SpA.
15.7. The Yokohama Rubber Co., Ltd.
15.8. Kumho Tire Co., Inc.
15.9. GT Radial
15.10. Shandong Wanda BOTO Tyre Co. Ltd.
16. Strategic Recommendations
List Of Figures
Figure 1:Nigeria Tire Market Size, By Value (USD Million), By Volume (Million Units), 2011-2021F
Figure 2:Nigeria Tire Market Share, By Vehicle Type, By Volume, 2011-2021F
Figure 3:Nigeria Tire Market Share, By Radial Vs. Bias, By Volume, 2015-2021F
Figure 4:Nigeria Tire Market Share, By Company, By Volume, 2015-2021F
Figure 5:Nigeria Tire Market Share, By Region, By Volume, 2015-2021F
Figure 6:Nigeria Tire Market Share, By Region, By Volume, 2015 & 2021F
Figure 7:Nigeria Tire Market Attractiveness Index, By Vehicle Type, By Volume, 2015
Figure 8:Nigeria Passenger Car Tire Market Size, By Value (USD Million), By Volume (Million Units), 2011-2021F
Figure 9:Nigeria Passenger Car Tire Market Share, By Vehicle Type, By Volume, 2015-2021F
Figure 10:Nigeria Two-Wheeler Tire Market Size, By Value (USD Million), By Volume (Million Units), 2011-2021F
Figure 11:Nigeria Two-Wheeler Tire Market Share, By Vehicle Type, By Volume, 2015-2021F
Figure 12:Nigeria Commercial Vehicle Tire Market Size, By Value (USD Million), By Volume (Million Units), 2011-2021F
Figure 13:Nigeria Commercial Vehicle Tire Market Share, By Vehicle Type, By Volume, 2015-2021F
Figure 14:Nigeria Three-Wheeler Tire Market Size, By Value (USD Million), By Volume (Million Unit), 2011-2021F
Figure 15:Nigeria Three-Wheeler Tire Market Share, By Vehicle Type, By Volume, 2015-2021F
Figure 16:Nigeria Off-The-Road (OTR) Tire Market Size, By Value (USD Million), By Volume (Million Units), 2011-2021F
Figure 17:Nigeria OTR Tire Market Share, By Vehicle Type, By Volume, 2015-2021F
Figure 18:Nigeria Passenger Car Tire Imports, By Value, 2010-2014 (USD Million)
Figure 19:Nigeria Commercial Vehicle Tire Imports, By Value, 2010-2014 (USD Million)
Figure 20:Nigeria Off-The-Road Tire Imports, By Value, 2010-2014 (USD Million)
Figure 21:Nigeria Two-Wheeler Tire Imports, By Value, 2010-2014 (USD Million)
Figure 22:Nigeria Tire Imports Share, By Vehicle Type, By Value, 2014
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List Of Tables
Table 1: Nigeria Automobile Sales, By Volume, 2011-2015 (Units)
Table 2: Nigeria Tire Market Size, By Radial vs Bias, By Volume, 2015-2021F (Million Units)
Table 3: Nigeria Passenger Car Fleet, By Volume, 2011–2015 (Units)
Table 4: Currency Exchange Rate, USD to NGN, 2011–2015
Table 5: Nigeria Passenger Car Sales, 2011–2015 (Units)
Table 6: Nigeria Popular Passenger Car Tire Sizes, 2015
Table 7: Nigeria Two Wheeler Sales, By Volume, 2011-2015 (Units)
Table 8: Nigeria Popular Two-Wheeler Tire Sizes, 2015
Table 9: Nigeria Commercial Vehicle Sales, 2011–2015 (Units)
Table 10:Nigeria Light Commercial Vehicle Tire Market Size, By Vehicle Type, By Volume, 2015-2021F (Million Units)
Table 11:Nigeria On-going Road Construction Projects (2016)
Table 12:Nigeria Popular Commercial Vehicle Tire Sizes, 2015
Table 13:Nigeria Three-Wheeler Sales, 2011-2015 (Units)
Table 14:Nigeria Three-Wheeler Tire Sales, 2016E–2021F (Thousand Units)
Table 15:Nigeria Popular Three-Wheeler Tire Sizes, 2015
Table 16:Various On-going Energy and Railway Development Projects (2016)
Table 17:Nigeria OTR Tire Market Size, By Vehicle Type, 2016-2021 (Thousand Units)
Table 18:Nigeria Popular OTR Vehicle Tire Sizes, 2015
Table 19:Nigeria Tire Trade Tariff Duties, By Product Type & Segment, 2015
Table 20:Nigeria Automobile Fleet, By Vehicle Type, By Volume, 2011-2015 (Thousand Units)
Table 21:Nigeria Two-Wheeler Tire Market Size, By Volume, 2015-2021F (Million Units)

Nigeria Tire Market Forecast and Opportunities, 2021

Nigeria is one the largest countries in the African continent with a population of approximately 178 million in 2015. As per International Monetary Fund, the Gross Domestic Product (GDP) of Nigeria stood at USD490.21 billion in 2015. Though the country has a low motorization rate of 20 vehicles per 1,000 inhabitants, Nigeria is one of the largest automotive markets in Africa. However, one of the major challenges that the country is facing is the continuing devaluation of its domestic currency, Nigerian Naira. Another challenge pertaining to Nigerian market is the lack of automobile production in the country, which has been restraining the growth of the country’s tire market. As of 2015, the tire market in Nigeria was completely replacement driven. Moreover, the lack of tire manufacturing in the country has made Nigeria a completely import driven tire market.

According to the TechSci Research report, “Nigeria Tire Market Forecast & Opportunities, 2021’’, the tire market in Nigeria is forecast to surpass $615 million by 2021. In 2015, tire market in Nigeria was dominated by the passenger car tire segment, and this trend is expected to continue over the next five years. Mid-West region grabbed the largest share in the country’s tire market in 2015. Over the last decade, the region has evolved as the country’s economic powerhouse due to largescale infrastructure development activities, coupled with rising population and business activities. Few of the major international tire brands operating in Nigeria include Michelin, Goodyear, Bridgestone, Kumho, Hankook, Pirelli and Yokohama. Apart from these flagship brands, several Chinese companies are also engaged in selling tires in Nigeria. On account of their significantly lower prices, Chinese tire brands have been witnessing increasing penetration in the country over the last few years. “Nigeria Tire Market Forecast & Opportunities, 2021” report elaborates the following aspects of tire market in Nigeria:

  • Nigeria Tire Market Size, Share & Forecast
  • Segmental Analysis – Passenger cars, Commercial vehicles, Two-Wheelers, Three wheelers and OTR tires
  • Policy & Regulatory Landscape
  • Changing Market Trends and Emerging Opportunities
  • Competitive Landscape and Strategic Recommendations
Why You Should Buy This Report?
  • To gain an in-depth understanding of tire market in Nigeria
  • To identify the on-going trends and segment wise anticipated growth in the coming years
  • To help industry consultants, tire companies and other stakeholders to align their market-centric strategies
  • To obtain research based business decision and add weight to presentations and marketing material
  • To avail 10% customization in the report without any extra charges and get the research data or trends added in the report as per the buyer’s specific needs
Report Methodology

The information contained in this report is based on both primary and secondary sources. Primary research included interviews with tire companies, distributors and industry experts. Secondary research included an exhaustive search of relevant publications like company annual reports, financial reports and proprietary databases."


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