Nigeria Tire Market Research Report: Forecast (2025-2030)

By Type of Vehicles (Passenger Car, Light Commercial Vehicle, Buses and Trucks, Medium and Heavy Commercial Vehicles, Off the Road (OTR), Two Wheelers, Three Wheeler), By Demand Ca......tegory (OEM and Replacement), By Type of Tires (Radial and Bias), By Sales Channel (Dealer/Distributor, Online and Others), By Season (all season, winter and Summer), By Price Category (Low (Up to USD90), Medium (USD91-USD140, High (Above USD140)), By Rim Diameter (Upto 12”, 12.1” to 15”, 15.1.” to 18”, 18.1” to 20”, 20.1” to 22.5”, 22.6” to 26”, 26.1” to 35”, 35.1” to 47”, Above 47”), By Region (North, East, West, Mid- West), By Company (Continental, Bridgestone, Yokohama, Hankook, Goodyear, Michelin, Kumho, Pirelli, Triangle, Hangzhou Zhongce) Read more

  • Tire
  • Dec 2024
  • 117
  • PDF, Excel, PPT

Market Definition

Tires, amongst the most prominent components of vehicles, require close inspection & timely maintenance to ensure a safe & enjoyable ride. They play a crucial role in providing a stable interaction of the car and the road by maintaining proper grip & traction and providing a safe driving experience. Hence, the leading tire manufacturers are actively working toward the production & distribution of robust tires across Nigeria, which, in turn, would boost the tire industry of the country over the coming years.

Market Insights & Analysis: Nigeria Tire Market (2025-30):

The Nigeria Tire Market is estimated to grow at a CAGR of around 3.45% during the forecast period, i.e., 2025-30. The growth of the industry is driven mainly by the rise in the vehicle fleet in Nigeria because of the paradigm shift of people towards private ownership of vehicles for transportation that is making a direct impact on the demand for tire in Nigeria. Also, the rising preference for second-hand cars among the lower and middle-class income population is playing an important role in the repair and replacement of tires.

Report Coverage Details
  Historical Years   2020-23
  Base Years
  2024
  Forecast Years
  2025-30
  CAGR (2025-30)   3.45%
  Top Key Players 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.
  Key Report Highlights
  • Market Dimensions & Projections
  • Pricing Evaluation,
  • Recent Strategic Moves by Companies,
  • Primary Stakeholders,
  • Analysis of Import and Export Trends,
  • Competitive Landscape Assessment,
  • Emerging Opportunities,
  • Market Trends and Indicators

 

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Apart from this, the swiftly increasing trade businesses, i.e., portraying the rapidly expanding import of vehicles and tires from the countries including Netherlands, US, and Germany are also impacting the growth of the Nigeria Tire Market in a positive manner. Plus, the launch of the National Automotive Industry Development Plan, which has attracted numerous significant automakers & tire manufacturers and encourages them to establish small-scale assembly plants in the country, is another notable aspect boosting the growth of the industry.

In addition, the government of Nigeria is also actively participating via multiple plans and associations such as National Automotive Designs and Development in the settings goals to turn around 30% of electric vehicles by 2025 is another profitable aspect for the tire industry of Nigeria in the forthcoming years.

  1. Market Segmentation
  2. Introduction
    1. Product Definition
    2. Research Process
    3. Assumptions
  3. Executive Summary
  4. Nigeria Tire Market Regulations, Policies and Product Standards
  5. Nigeria Tire Market Trends & Developments
  6. Nigeria Tire Market Dynamics
    1. Growth Drivers
    2. Challenges
  7. Nigeria Tire Market Import Export Statistics
  8. Nigeria Tire Market Value Chain & Stakeholder Margin Analysis
  9. Nigeria Tire Market Outlook 2020- 2030F
    1. Market Size & Analysis
      1. By Revenue (USD Million)
      2. By Units Sold (Thousand Units)
    2. Market Share & Analysis
      1. By Type of Vehicles
        1. Passenger Car- Market Size & Forecast 2020-2030, Thousand Units
        2. Light Commercial Vehicle- Market Size & Forecast 2020-2030, Thousand Units
        3. Medium and Heavy Commercial Vehicles- Market Size & Forecast 2020-2030, Thousand Units
        4. Off the Road (OTR) - Market Size & Forecast 2020-2030, Thousand Units
        5. Two Wheelers- Market Size & Forecast 2020-2030, Thousand Units
      2. By Demand Category
        1. OEM- Market Size & Forecast 2020-2030, Thousand Units
        2. Aftermarket- Market Size & Forecast 2020-2030, Thousand Units
      3. By Type of Tire
        1. Radial- Market Size & Forecast 2020-2030, Thousand Units
        2. Bias- Market Size & Forecast 2020-2030, Thousand Units
      4. By Sales Channel
        1. Direct Sales- Market Size & Forecast 2020-2030, Thousand Units
        2. Exclusive Outlets & Multi-brand Stores- Market Size & Forecast 2020-2030, Thousand Units
        3. Online- Market Size & Forecast 2020-2030, Thousand Units
      5. By Price Category
        1. Budget- Market Size & Forecast 2020-2030, Thousand Units
        2. Economy- Market Size & Forecast 2020-2030, Thousand Units
        3. Premium- Market Size & Forecast 2020-2030, Thousand Units
      6. By Tire Size
        1. Tire Size 1- Market Size & Forecast 2020-2030, Thousand Units
        2. Tire Size 2 - Market Size & Forecast 2020-2030, Thousand Units
        3. Tire Size 3 - Market Size & Forecast 2020-2030, Thousand Units
        4. Tire Size 4 - Market Size & Forecast 2020-2030, Thousand Units
        5. Tire Size 5 - Market Size & Forecast 2020-2030, Thousand Units
      7. By Region
        1. East
        2. West
        3. North
        4. South
      8. By Company
        1. Competition Characteristics
        2. Volume Shares
  10. Nigeria Passenger Car Tire Market Outlook, 2020- 2030F
    1. Market Size & Analysis
      1. Market Revenue (USD Million)
      2. By Units Sold (Thousand Units)
    2. Market Share & Analysis
      1. By Type of Vehicle- Market Size & Forecast 2020-2030, Thousand Units
        1. Hatchback- Market Size & Forecast 2020-2030, Thousand Units
        2. Sedan- Market Size & Forecast 2020-2030, Thousand Units
        3. SUV- Market Size & Forecast 2020-2030, Thousand Units
      2. By Demand Category- Market Size & Forecast 2020-2030, Thousand Units
      3. By Type of Tire- Market Size & Forecast 2020-2030, Thousand Units
      4. By Sales Channel- Market Size & Forecast 2020-2030, Thousand Units
      5. By Price Category- Market Size & Forecast 2020-2030, Thousand Units
      6. By Tire Size- Market Size & Forecast 2020-2030, Thousand Units
  11. Nigeria Light Commercial Vehicle Tire Market Outlook, 2020- 2030F
    1. Market Size & Analysis
      1. Market Revenue (USD Million)
      2. By Units Sold (Thousand Units)
    2. Market Share & Analysis
      1. By Type of Vehicle- Market Size & Forecast 2020-2030, Thousand Units
        1. Light Trucks- Market Size & Forecast 2020-2030, Thousand Units
        2. Light Buses- Market Size & Forecast 2020-2030, Thousand Units
        3. Pick-up Trucks and Vans- Market Size & Forecast 2020-2030, Thousand Units
      2. By Demand Category- Market Size & Forecast 2020-2030, Thousand Units
      3. By Type of Tire- Market Size & Forecast 2020-2030, Thousand Units
      4. By Sales Channel- Market Size & Forecast 2020-2030, Thousand Units
      5. By Price Category- Market Size & Forecast 2020-2030, Thousand Units
      6. By Tire Size- Market Size & Forecast 2020-2030, Thousand Units
  12. Nigeria Medium and Heavy Commercial Vehicle Tire Market Outlook, 2020- 2030F
    1. Market Size & Analysis
      1. Market Revenue (USD Million)
      2. By Units Sold (Thousand Units)
    2. Market Share & Analysis
      1. By Type of Vehicle- Market Size & Forecast 2020-2030, Thousand Units
        1. Buses- Market Size & Forecast 2020-2030, Thousand Units
        2. Trucks- Market Size & Forecast 2020-2030, Thousand Units
        3. Ultra-Heavy trucks- Market Size & Forecast 2020-2030, Thousand Units
      2. By Demand Category- Market Size & Forecast 2020-2030, Thousand Units
      3. By Type of Tire- Market Size & Forecast 2020-2030, Thousand Units
      4. By Sales Channel- Market Size & Forecast 2020-2030, Thousand Units
      5. By Price Category- Market Size & Forecast 2020-2030, Thousand Units
      6. By Tire Size- Market Size & Forecast 2020-2030, Thousand Units
  13. Nigeria Two-Wheeler Tire Market Outlook, 2020- 2030F
    1. Market Size & Analysis
      1. Market Revenue (USD Million)
      2. By Units Sold (Thousand Units)
    2. Market Share & Analysis
      1. By Type of Vehicle- Market Size & Forecast 2020-2030, Thousand Units
        1. Scooters- Market Size & Forecast 2020-2030, Thousand Units
        2. Mopeds- Market Size & Forecast 2020-2030, Thousand Units
        3. Motorcycles- Market Size & Forecast 2020-2030, Thousand Units
      2. By Demand Category- Market Size & Forecast 2020-2030, Thousand Units
      3. By Type of Tire- Market Size & Forecast 2020-2030, Thousand Units
      4. By Sales Channel- Market Size & Forecast 2020-2030, Thousand Units
      5. By Price Category- Market Size & Forecast 2020-2030, Thousand Units
      6. By Tire Size- Market Size & Forecast 2020-2030, Thousand Units
  14. Nigeria OTR Vehicle Tire Market Outlook, 2020- 2030F
    1. Market Size & Analysis
      1. Market Revenue (USD Million)
      2. By Units Sold (Thousand Units)
    2. Market Share & Analysis
      1. By Type of Vehicle- Market Size & Forecast 2020-2030, Thousand Units
        1. Earthmoving Equipment- Market Size & Forecast 2020-2030, Thousand Units
        2. Agricultural Vehicles- Market Size & Forecast 2020-2030, Thousand Units
        3. Material Handling Vehicles- Market Size & Forecast 2020-2030, Thousand Units
      2. By Demand Category- Market Size & Forecast 2020-2030, Thousand Units
      3. By Type of Tire- Market Size & Forecast 2020-2030, Thousand Units
      4. By Sales Channel- Market Size & Forecast 2020-2030, Thousand Units
      5. By Price Category- Market Size & Forecast 2020-2030, Thousand Units
      6. By Tire Size- Market Size & Forecast 2020-2030, Thousand Units
  15. Nigeria Tire Market Key Strategic Imperatives for Success & Growth
  16. Competition Outlook
    1. Company Profiles
      1. Continental AG
        1. Business Description
        2. Type Portfolio
        3. Strategic Alliances or Partnerships
        4. Recent Developments
        5. Financial Details
        6. Others
      2. Bridgestone Corporation
        1. Business Description
        2. Type Portfolio
        3. Strategic Alliances or Partnerships
        4. Recent Developments
        5. Financial Details
        6. Others
      3. Pirelli & C. S.p.A.
        1. Business Description
        2. Type Portfolio
        3. Strategic Alliances or Partnerships
        4. Recent Developments
        5. Financial Details
        6. Others
      4. Yokohama Rubber Company Limited
        1. Business Description
        2. Type Portfolio
        3. Strategic Alliances or Partnerships
        4. Recent Developments
        5. Financial Details
        6. Others
      5. Hankook Tire Co., Ltd.
        1. Business Description
        2. Type Portfolio
        3. Strategic Alliances or Partnerships
        4. Recent Developments
        5. Financial Details
        6. Others
      6. Goodyear Tire & Rubber Company
        1. Business Description
        2. Type Portfolio
        3. Strategic Alliances or Partnerships
        4. Recent Developments
        5. Financial Details
        6. Others
      7. Zhongce Rubber Group
        1. Business Description
        2. Type Portfolio
        3. Strategic Alliances or Partnerships
        4. Recent Developments
        5. Financial Details
        6. Others
      8. Michelin Group
        1. Business Description
        2. Type Portfolio
        3. Strategic Alliances or Partnerships
        4. Recent Developments
        5. Financial Details
        6. Others
      9. Kumho Tire
        1. Business Description
        2. Type Portfolio
        3. Strategic Alliances or Partnerships
        4. Recent Developments
        5. Financial Details
        6. Others
      10. Triangle Tyre Co
        1. Business Description
        2. Type Portfolio
        3. Strategic Alliances or Partnerships
        4. Recent Developments
        5. Financial Details
        6. Others
      11. Others
  17. Disclaimer


MarkNtel Advisors follows a robust and iterative research methodology designed to ensure maximum accuracy and minimize deviation in market estimates and forecasts. Our approach combines both bottom-up and top-down techniques to effectively segment and quantify various aspects of the market. A consistent feature across all our research reports is data triangulation, which examines the market from three distinct perspectives to validate findings. Key components of our research process include:

1. Scope & Research Design At the outset, MarkNtel Advisors define the research objectives and formulate pertinent questions. This phase involves determining the type of research—qualitative or quantitative—and designing a methodology that outlines data collection methods, target demographics, and analytical tools. They also establish timelines and budgets to ensure the research aligns with client goals.

2. Sample Selection and Data Collection In this stage, the firm identifies the target audience and determines the appropriate sample size to ensure representativeness. They employ various sampling methods, such as random or stratified sampling, based on the research objectives. Data collection is carried out using tools like surveys, interviews, and observations, ensuring the gathered data is reliable and relevant.

3. Data Analysis and Validation Once data is collected, MarkNtel Advisors undertake a rigorous analysis process. This includes cleaning the data to remove inconsistencies, employing statistical software for quantitative analysis, and thematic analysis for qualitative data. Validation steps are taken to ensure the accuracy and reliability of the findings, minimizing biases and errors.

Data Trangulation

4. Data Forecast and FinalizationThe final phase involves forecasting future market trends based on the analyzed data. MarkNtel Advisors utilize predictive modeling and time series analysis to anticipate market behaviors. The insights are then compiled into comprehensive reports, featuring visual aids like charts and graphs, and include strategic recommendations to inform client decision-making

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