Nigeria Two-Wheeler Tire Market Poised for Robust Growth, forecasted to Expand at 8.64% CAGR from 2024-30
MarkNtel Advisors has released its latest report highlighting strong growth in The Nigeria Two-Wheeler Tire Market size is estimated to grow at a CAGR of around 8.64% during the forecast period, i.e., 2024–30.
Report Coverage
This report offers a comprehensive analysis of the Nigeria Two-Wheeler Tire Market, providing valuable insights across historical trends, current dynamics, and future forecasts.
- Base Year: 2023
- Forecast Years: 2024-30
- Historical Years: 2019-22
Nigeria Two-Wheeler Tire Market Overview
The Market growth is primarily driven by escalating traffic congestion and the heightened adoption of two-wheelers by urban residents & businesses, among other factors. The escalating issue of traffic congestion in Nigerian cities like Lagos and Kano has become a significant concern in recent years. According to the Danne Institute for Research 2023, residents of Lagos spent an average of 2.21 hours commuting daily, with approximately 45% enduring more than two hours of travel time.
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Nigeria Two-Wheeler Tire Market Segmentation Outlook
The Nigeria Two-Wheeler Tire is categorized into notable segments, which help in understanding the structure, dynamics, and opportunities within the market. These segments are typically based on:
By Vehicle Type
- Scooter and Moped- Market Size & Forecast 2019-2030, Thousand Units
- Motorcycle- Market Size & Forecast 2019-2030, Thousand Units
By Demand Type
- OEMs- Market Size & Forecast 2019-2030, Thousand Units
- Replacement- Market Size & Forecast 2019-2030, Thousand Units
By Tire Type
- Radial- Market Size & Forecast 2019-2030, Thousand Units
- Bias- Market Size & Forecast 2019-2030, Thousand Units
By Price Category
- Budget (Up to USD11 Per Unit)- Market Size & Forecast 2019-2030, Thousand Units
- Economy (USD12 to 30 Per unit)- Market Size & Forecast 2019-2030, Thousand Units
- Premium (Above USD30 Per Unit)-Market Size & Forecast 2019-2030, Thousand Units
By Sales Channel
- Online- Market Size & Forecast 2019-2030, Thousand Units
- Multi Brand Stores - Market Size & Forecast 2019-2030, Thousand Units
- Exclusive Outlets - Market Size & Forecast 2019-2030, Thousand Units
- Others - Market Size & Forecast 2019-2030, Thousand Units
By Tire Size
- 80/100-17- Market Size & Forecast 2019-2030, Thousand Units
- 100/90-17- Market Size & Forecast 2019-2030, Thousand Units
- 75 x 17 - Market Size & Forecast 2019-2030, Thousand Units
- 75-18- Market Size & Forecast 2019-2030, Thousand Units
- 00 x 17 50- Market Size & Forecast 2019-2030, Thousand Units
- 00 - 18- Market Size & Forecast 2019-2030, Thousand Units
- 90/90 - 17- Market Size & Forecast 2019-2030, Thousand Units
- Others (110/80-17, 90/90-18, 100/80-17,110/70-17,150/60-17, 120/80 - 17 etc.) - Market Size & Forecast 2019-2030, Thousand Units
By Region
- Midwest
- North
- East
- West
Nigeria Two-Wheeler Tire Market Challenge
Growing Illicit Trade of Tires to Hamper Market Growth – Nigeria is facing a growing issue of the illicit two-wheeler tire trade, marked by deceptive practices like misdeclaration and rerouting to bypass duties. The emergence of such illicit trade is primarily attributed to certain entities and individuals engaging in deceptive practices or opting for alternative routes to avoid the legal obligations and financial responsibilities associated with tire imports. The expanding illicit trade in two-wheeler tires is exacerbating the penetration of counterfeit products in the region and introducing unfair competition across the market. Thus, growing illegal trade activities in Nigeria would significantly impact the market’s future growth & expansion.
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Top Nigeria Two-Wheeler Tire Market Brands & Their Strategic Market Positioning
MarkNtel Advisors Research identifies Bridgestone Corporation, The Goodyear Tire & Rubber Company (Dunlop), Michelin, Continental AG, Yokohama TWS (Mitas), Pirelli Tyre S.p.A., Apollo Tire, JK Tire, CEAT, Others as key players shaping the market landscape.
Key Questions Answered in the Report
- What is the market size (value & volume) along with the current & future trends, growth factors & challenges, etc.?
- How the industry has been evolving, and which segments would dominate the market during the forecast period?
- What are the key opportunity areas that companies foresee in the coming years 2030?
- Who are the key players in the market, and what are their competitive strengths?
- What are the key growth drivers & challenges associated with the market, and how would they impact the market through the forecast period?
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