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Automotive Manufacturing in Nigeria

Publisher MarketLine
Published May 29, 2025
Length 43 Pages
SKU # MTLN20303836

Description

Automotive Manufacturing in Nigeria

Summary

Automotive Manufacturing in Nigeria industry profile provides top-line qualitative and quantitative summary information including: market size (value 2019-24, and forecast to 2029). The profile also contains descriptions of the leading players including key financial metrics and analysis of competitive pressures within the market.

Key Highlights
  • The automotive manufacturing industry is segmented into car manufacturing, motorcycle manufacturing, and truck manufacturing. The electric and hybrid vehicles are out of our market scope.
  • The Nigerian automotive manufacturing industry recorded revenues of $1.4 billion in 2024, representing a negative compound annual growth rate (CAGR) of 0.7% between 2019 and 2024.
  • Industry production volume increased with a CAGR of 0.3% between 2019 and 2024, reaching a total of 0.6 million units in 2024.
  • The Nigerian automotive manufacturing industry’s production volume grew by 2.9% in 2024, which was also supported by rising demand from the domestic rental car market. Fleet expansion by rental companies led to bulk orders, boosting factory output. According to GlobalData, the rental car fleet in Nigeria stood at 129,124 units in 2024, an increase of 0.4% from the previous year.
Scope
  • Save time carrying out entry-level research by identifying the size, growth, major segments, and leading players in the automotive manufacturing market in Nigeria
  • Use the Five Forces analysis to determine the competitive intensity and therefore attractiveness of the automotive manufacturing market in Nigeria
  • Leading company profiles reveal details of key automotive manufacturing market players’ global operations and financial performance
  • Add weight to presentations and pitches by understanding the future growth prospects of the Nigeria automotive manufacturing market with five year forecasts
Reasons to Buy
  • What was the size of the Nigeria automotive manufacturing market by value in 2024?
  • What will be the size of the Nigeria automotive manufacturing market in 2029?
  • What factors are affecting the strength of competition in the Nigeria automotive manufacturing market?
  • How has the market performed over the last five years?
  • What are the main segments that make up Nigeria's automotive manufacturing market?

Table of Contents

43 Pages
1 Executive Summary
1.1. Market value
1.2. Market value forecast
1.3. Market volume
1.4. Market volume forecast
1.5. Category segmentation
1.6. Geography segmentation
1.7. Market rivalry
1.8. Competitive landscape
2 Market Overview
2.1. Market definition
2.2. Market analysis
3 Market Data
3.1. Market value
3.2. Market volume
4 Market Segmentation
4.1. Category segmentation
4.2. Geography segmentation
5 Market Outlook
5.1. Market value forecast
5.2. Market volume forecast
6 Five Forces Analysis
6.1. Summary
6.2. Buyer power
6.3. Supplier power
6.4. New entrants
6.5. Threat of substitutes
6.6. Degree of rivalry
7 Competitive Landscape
7.1. Who are the leading players?
7.2. What strategies do the leading players follow?
7.3. What are the strengths of the leading players?
8 Company Profiles
8.1. Innoson Vehicle Manufacturing Co Ltd
8.2. Honda Motor Co Ltd
8.3. Volkswagen AG
9 Macroeconomic Indicators
9.1. Country data
10 Appendix
10.1. Methodology
10.2. Industry associations
10.3. Related MarketLine research
10.4. About MarketLine
List of Tables
Table 1: Nigeria automotive manufacturing industry value: $ billion, 2019-24
Table 2: Nigeria automotive manufacturing industry volume: million units, 2019-24
Table 3: Nigeria automotive manufacturing industry category segmentation: % share, by value, 2019-24
Table 4: Nigeria automotive manufacturing industry category segmentation: $ billion, 2019-24
Table 5: Nigeria automotive manufacturing industry geography segmentation: $ billion, 2024
Table 6: Nigeria automotive manufacturing industry value forecast: $ billion, 2024-29
Table 7: Nigeria automotive manufacturing industry volume forecast: million units, 2024-29
Table 8: Innoson Vehicle Manufacturing Co Ltd: Key Facts
Table 9: Innoson Vehicle Manufacturing Co Ltd: Key Employees
Table 10: Honda Motor Co Ltd: Key Facts
Table 11: Honda Motor Co Ltd: Annual Financial Ratios
Table 12: Honda Motor Co Ltd: Key Employees
Table 13: Volkswagen AG: Key Facts
Table 14: Volkswagen AG: Annual Financial Ratios
Table 15: Volkswagen AG: Key Employees
Table 16: Volkswagen AG: Key Employees Continued
Table 17: Nigeria Size of Population (Million), 2020-24
Table 18: Nigeria Real GDP (Constant 2010 Prices, $ Billion), 2020-24
Table 19: Nigeria GDP (Current Prices, $ Billion), 2020-24
Table 20: Nigeria Inflation, 2020-24
Table 21: Nigeria Consumer Price Index (Absolute), 2020-24
Table 22: Nigeria Exchange Rate, 2019-24
List of Figures
Figure 1: Nigeria automotive manufacturing industry value: $ billion, 2019-24
Figure 2: Nigeria automotive manufacturing industry volume: million units, 2019-24
Figure 3: Nigeria automotive manufacturing industry category segmentation: $ billion, 2019-24
Figure 4: Nigeria automotive manufacturing industry geography segmentation: % share, by value, 2024
Figure 5: Nigeria automotive manufacturing industry value forecast: $ billion, 2024-29
Figure 6: Nigeria automotive manufacturing industry volume forecast: million units, 2024-29
Figure 7: Forces driving competition in the automotive manufacturing industry in Nigeria, 2024
Figure 8: Drivers of buyer power in the automotive manufacturing industry in Nigeria, 2024
Figure 9: Drivers of supplier power in the automotive manufacturing industry in Nigeria, 2024
Figure 10: Factors influencing the likelihood of new entrants in the automotive manufacturing industry in Nigeria, 2024
Figure 11: Factors influencing the threat of substitutes in the automotive manufacturing industry in Nigeria, 2024
Figure 12: Drivers of degree of rivalry in the automotive manufacturing industry in Nigeria, 2024

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