Nigeria Tire Market Overview
Nigeria tire market witnessed moderate growth in recent years on account of sluggish economic growth and political instability in the country. However, rising automotive manufacturing and assembly in the country would drive Nigeria Tire Market Growth during the forecast period.
Based on types, radial tires dominated the Nigeria Tire Market due to certain advantages such as higher fuel efficiency and longer life offered by them. Some of the key players in the Nigerian tire market are Goodyear, Pirelli, Continental, Bridgestone, Michelin, and Chinese players.
According to 6Wresearch, Nigeria Tire Market size is projected to grow at a CAGR of 2.4% during 2019-2025. The majority of the motor vehicles entering the Nigerian automotive market are used vehicles from Europe and the U.S.A. and thus, the Nigerian tire market is driven by the demand for replacement tires. Two-wheeler tires captured the majority of the volume share in the Nigeria tire market due to the high popularity of the two-wheeler in the country and the shorter life of two-wheeler tires when compared to tires in other segments. However, truck and buses tire segments had the highest revenue share in overall Nigeria Tire Market Revenue owing to higher prices and prominent use of commercial and public transport by the Nigerian citizens.
Key highlights of the report:-
- Nigeria Tire Market Overview
- Nigeria Tire Market Outlook
- Nigeria Tire Market Forecast
- Nigeria Tire Market Drivers and Restraints
- Nigeria Tire Market Trends and Industry Life Cycle
- Nigeria Tire Market Porter’s Five Force Analysis
- Nigeria Tire Market Opportunity Assessment
- Nigeria Tire Market Share, By Regions
- Nigeria Tire Market Share, By Companies
- Nigeria Tire Market Overview on Competitive Benchmarking
- Company Profiles
- Key Strategic Recommendations
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