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Nigeria Two-Wheeler Tire Market Research Report: Forecast (2024-2030)

Nigeria Two-Wheeler Tire Market - By Vehicle Type (Scooter and Moped, Motorcycle), By Demand Type (OEMs, Replacement), By Tire Type (Radial, Bias), By Price Category (Budget, Econo......my, Premium), By Sales Channel (Online, Multi Brand Stores, Exclusive Outlets, Others), By Tire Size (80/100-17, 100/90-17, 2.75 x 17, 2.75-18, 3.00 x 17 50, 3.00 - 18, 90/90 - 17, Others) and others Read more

Tire
Mar 2024
Pages 123
Report Format: PDF, Excel, PPT

Market Definition

Two-wheeler tires refer to the specialized tires designed for vehicles with two wheels, such as motorcycles, scooters, bicycles, and mopeds. These tires play a crucial role in providing traction, stability, and control for the rider, making them a critical component of the overall safety and performance of the two-wheeled vehicle.

Market Insights & Analysis: Nigeria Two-Wheeler Tire Market (2024-30):

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. 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. Consequently, individuals in these urban areas are opting for alternative modes of transportation, such as two-wheelers, to circumvent the challenges posed by traffic jams. As more people turn to motorcycles and scooters to navigate traffic congestion effectively, the number of these vehicles on the road increases. This upsurge in the usage of two-wheelers creates a heightened demand for tires, both for new vehicles and as replacements for existing ones undergoing wear and tear.

Report Coverage	Details
Study Period	Historical Data: 2019-22
	Base Year: 2023
	Forecast Period: 2024-30
CAGR (2024-2030)	8.64%
Region Covered	Midwest, North, East, West
Key Companies Profiled	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
Unit Denominations	USD Million/Billion

Furthermore, the market for two-wheelers in Nigeria has witnessed a rapid increase, particularly in the commercial sector. The country has seen many companies provide shared mobility services using two-wheelers. Additionally, enterprises such as Chowdeck and Gofood have expanded their food delivery operations throughout Nigeria. These platforms predominantly employ scooters and motorcycles for their delivery services, capitalizing on their convenience and maneuverability. Consequently, the surge in the adoption of two-wheelers for commercial applications has driven a notable uptick in sales across the country. Hence, as the sales of motorcycles are escalating for commercial purposes, they are expected to generate demand for two-wheeler tires in Nigeria. This ultimately is anticipated to augment the size & volume of the Nigeria Two-Wheeler Tire Market during the forecast period.

Nigeria Two-Wheeler Tire Market Driver:

Growing Adoption of Electric Two-Wheelers Driving the Market – Nigeria is battling growing air pollution, energy security concerns, and a gradual increase in carbon emissions. Nigeria has the highest population-weighted annual average PM2.5 concentrations, as per the State of Global Air 2021. To mitigate air pollution & carbon emissions, consumers in the country are increasingly inclined towards electric two-wheelers, as they contribute to a cleaner and greener transportation system. Further, government policies and initiatives aimed at promoting sustainable and eco-friendly transportation owing to reduced oil imports and reduced carbon emissions play a crucial role in the adoption of electric two-wheelers. Incentives such as tax benefits, subsidies, and favorable regulations for electric vehicles encourage consumers to choose electric two-wheelers. As a result, electric two-wheeler manufacturers such as Hero, Revolt, etc. in the country are ramping up their production & expanding their market to Nigeria. For instance,

In 2024, Spiro, Africa's largest electric vehicle (EV) player, is excited to announce its expansion into Nigeria, introducing innovative electric bikes and advanced battery-swapping technology in Ogun Province.

Market Segmentation
Introduction
1. Product Definition
2. Research Process
3. Assumptions
Executive Summary
Nigeria Two-Wheeler Tire Import-Export Analysis, 2019-2023
Nigeria Two-Wheeler Tire Market Supply Chain Analysis
Nigeria Two-Wheeler Tire Market Trends & Developments
Nigeria Two-Wheeler Tire Market Dynamics
1. Drivers
2. Challenges
Nigeria Two-Wheeler Tire Market Hotspot & Opportunities
Nigeria Two-Wheeler Tire Market Regulations and Policy
Nigeria Two-Wheeler Tire Market Outlook, 2019-2030F
1. Market Size & Analysis
  1. By Revenues (USD Million)
  2. By Units Sold (Thousands)
2. Market Size & Analysis
  1. By Vehicle Type
    1. Scooter and Moped- Market Size & Forecast 2019-2030, Thousand Units
    2. Motorcycle- Market Size & Forecast 2019-2030, Thousand Units
  2. By Demand Type
    1. OEMs- Market Size & Forecast 2019-2030, Thousand Units
    2. Replacement- Market Size & Forecast 2019-2030, Thousand Units
  3. By Tire Type
    1. Radial- Market Size & Forecast 2019-2030, Thousand Units
    2. Bias- Market Size & Forecast 2019-2030, Thousand Units
  4. By Price Category
    1. Budget (Up to USD11 Per Unit)- Market Size & Forecast 2019-2030, Thousand Units
    2. Economy (USD12 to 30 Per unit)- Market Size & Forecast 2019-2030, Thousand Units
    3. Premium (Above USD30 Per Unit)-Market Size & Forecast 2019-2030, Thousand Units
  5. By Sales Channel
    1. Online- Market Size & Forecast 2019-2030, Thousand Units
    2. Multi Brand Stores - Market Size & Forecast 2019-2030, Thousand Units
    3. Exclusive Outlets - Market Size & Forecast 2019-2030, Thousand Units
    4. Others - Market Size & Forecast 2019-2030, Thousand Units
  6. By Tire Size
    1. 80/100-17- Market Size & Forecast 2019-2030, Thousand Units
    2. 100/90-17- Market Size & Forecast 2019-2030, Thousand Units
    3. 2.75 x 17 - Market Size & Forecast 2019-2030, Thousand Units
    4. 2.75-18- Market Size & Forecast 2019-2030, Thousand Units
    5. 3.00 x 17 50- Market Size & Forecast 2019-2030, Thousand Units
    6. 3.00 - 18- Market Size & Forecast 2019-2030, Thousand Units
    7. 90/90 - 17- Market Size & Forecast 2019-2030, Thousand Units
    8. 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
  7. By Region
    1. Midwest
    2. North
    3. East
    4. West
  8. By Company
    1. Competition Characteristics
    2. Market Share & Analysis
Nigeria Scooter & Moped Tire Market Outlook, 2019-2030F
1. Market Size & Analysis
  1. By Revenues (USD Million)
  2. By Units Sold (Thousands)
2. Market Share & Analysis
  1. By Vehicle Type
    1. ICE
      1. Up to 100cc- Market Size & Forecast 2019-2030, Thousand Units
      2. 101cc to 125cc- Market Size & Forecast 2019-2030, Thousand Units
      3. 126cc to 150cc- Market Size & Forecast 2019-2030, Thousand Units
      4. Above 150cc- Market Size & Forecast 2019-2030, Thousand Units
    2. Electric- Market Size & Forecast 2019-2030, Thousand Units
  2. By Demand Type- Market Size & Forecast 2019-2030, Thousand Units
  3. By Tire Type- Market Size & Forecast 2019-2030, Thousand Units
  4. By Price Category- Market Size & Forecast 2019-2030, Thousand Units
  5. By Sales Channel- Market Size & Forecast 2019-2030, Thousand Units
  6. By Tire Size- Market Size & Forecast 2019-2030, Thousand Units
Nigeria Motorcycle Tire Market Outlook, 2019-2030F
1. Market Size & Analysis
  1. By Revenues (USD Million)
  2. By Units Sold (Thousands)
2. Market Share & Analysis
  1. By Vehicle Type
    1. ICE
      1. Up to 100cc- Market Size & Forecast 2019-2030, Thousand Units
      2. 101cc to 125cc- Market Size & Forecast 2019-2030, Thousand Units
      3. 126cc to 150cc- Market Size & Forecast 2019-2030, Thousand Units
      4. Above 150cc- Market Size & Forecast 2019-2030, Thousand Units
    2. Electric- Market Size & Forecast 2019-2030, Thousand Units
  2. By Demand Type- Market Size & Forecast 2019-2030, Thousand Units
  3. By Tire Type- Market Size & Forecast 2019-2030, Thousand Units
  4. By Price Category- Market Size & Forecast 2019-2030, Thousand Units
  5. By Sales Channel- Market Size & Forecast 2019-2030, Thousand Units
  6. By Tire Size- Market Size & Forecast 2019-2030, Thousand Units
Nigeria Two-Wheeler Tire Industry Key Strategic Imperatives for Growth & Success
Competition Outlook
1. Company Profiles
  1. Bridgestone Corporation
    1. Business Description
    2. Product Portfolio
    3. Strategic Alliances or Partnerships
    4. Recent Developments
    5. Financial Details
    6. Others
  2. Goodyear Tire and Rubber Company(Dunlop)
    1. Business Description
    2. Product Portfolio
    3. Strategic Alliances or Partnerships
    4. Recent Developments
    5. Financial Details
    6. Others
  3. Michelin
    1. Business Description
    2. Product Portfolio
    3. Strategic Alliances or Partnerships
    4. Recent Developments
    5. Financial Details
    6. Others
  4. Continental AG
    1. Business Description
    2. Product Portfolio
    3. Strategic Alliances or Partnerships
    4. Recent Developments
    5. Financial Details
    6. Others
  5. Yokohama TWS (Mitas)
    1. Business Description
    2. Product Portfolio
    3. Strategic Alliances or Partnerships
    4. Recent Developments
    5. Financial Details
    6. Others
  6. Pirelli Tyre S.p.A.
    1. Business Description
    2. Product Portfolio
    3. Strategic Alliances or Partnerships
    4. Recent Developments
    5. Financial Details
    6. Others
  7. Apollo Tire
    1. Business Description
    2. Product Portfolio
    3. Strategic Alliances or Partnerships
    4. Recent Developments
    5. Financial Details
    6. Others
  8. JK Tyer
    1. Business Description
    2. Product Portfolio
    3. Strategic Alliances or Partnerships
    4. Recent Developments
    5. Financial Details
    6. Others
  9. CEAT
    1. Business Description
    2. Product Portfolio
    3. Strategic Alliances or Partnerships
    4. Recent Developments
    5. Financial Details
    6. Others
  10. Others
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.

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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