Nigeria's Tire Market is Set to Exhibit a CAGR of 2.4% During 2019-2025 - Market Opportunity Assessment & Key Strategic Recommendations

DUBLIN, Dec. 11, 2019 /PRNewswire/ -- The "Nigeria Tire Market (2019-2025): Market Forecast by Types (Radial Tires and Bias Tires), by End Users (OEM and Replacement), by Vehicle Types (Trucks and Bus, Light Trucks, Two-Wheelers and Passenger Cars) and Competitive Landscape" report has been added to ResearchAndMarkets.com's offering.

The Nigeria Tire Market is projected to grow at a CAGR of 2.4% during 2019-2025.

This report comprehensively covers the market by types, vehicle types and end users. The report provides an unbiased and detailed analysis of the on-going market trends, opportunities/high growth areas, market drivers which would help the stakeholders to device and align their market strategies according to the current and future market dynamics.

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 the tire market in Nigeria during the forecast period.

Majority of the motor vehicles entering the Nigerian automotive market are used vehicles from Europe and U.S.A. and thus, the Nigerian tire market is driven by the demand for replacement tires. Two-wheeler tires captured majority of the volume share in the Nigeria tire market due to high popularity of the two wheelers in the country and a shorter life of two-wheeler tires when compared to tires in other segments. However, truck and buses tire segment had the highest revenue share owing to higher prices and prominent use of commercial and public transport by the Nigerian citizens.

Based on types, radial tyres 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 Nigeria tire market are Goodyear, Pirelli, Continental, Bridgestone, Michelin and Chinese players.

Key Highlights

• Historical Data of Nigeria Tire Market Revenues & Volume for the Period 2016-2018
• Nigeria Tire Market Size and Nigeria Tire Market Forecast of Revenues & Volume until 2025F
• Historical Data of Nigeria Tire Market Revenues & Volume for the Period 2016-2018, By Vehicle Types.
• Market Size & Forecast of Nigeria Tire Market Revenues & Volume until 2025F, By Vehicle Types
• Historical Data of Nigeria Tire Market Revenues & Volume for the Period 2016-2018, By End Users
• Market Size & Forecast of Nigeria Tire Market Revenues & Volume until 2025F, By End Users
• Historical Data of Nigeria Tire Market Revenues & Volume for the Period 2013-2018, By Types
• Market Size & Forecast of Nigeria Tire Market Revenues & Volume until 2025F, By Types
• Nigeria Tire Market Drivers and Restraints
• Nigeria Tire Market Trends and Industry Life Cycle
• Porter's Five Force Analysis
• Market Opportunity Assessment
• Market Share, By Regions
• Market Share, By Companies
• Competitive Benchmarking
• Company Profiles
• Key Strategic Recommendations

Markets Covered

By Vehicle Types

• Truck and Bus Tires
• Light Truck Tires
• Passenger Car Tires
• Two-Wheeler Tires

By End-users

• OEM (Original Equipment Manufacturer)
• Replacement

By Types

• Radial Tires
• Bias Tires

Company Profiles

• Bridgestone Middle East & Africa FZE
• Continental AG
• General Company Establishment Michelin
• Maxxis International - Middle East and Africa
• MRF Limited
• Pirelli & C. S.p.A.
• The Goodyear Tire & Rubber Company
• The Yokohama Rubber Co. Ltd.
• Triangle Tyre Co. Ltd.

For more information about this report visit https://www.researchandmarkets.com/r/eqt3mv

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SOURCE Research and Markets