The recent analytical report published by Markntel Advisors (a leading consulting, data analytics, and market research firm), Nigeria Two-Wheeler Tire Market comprises a detailed study of critical and major aspects of market dynamics, i.e. market trends, size, forecasts, growth factors, challenges, and competitor landscape. The research company provides an extensive range of strategic reports on diverse industry verticals to substantial and varied client bases, including multinational corporations, financial institutions, governments, and individuals, among others.
Nigeria Two-Wheeler Tire Industry Analytical Overview (2024-2030): Drivers, Opportunities, Challenges, and Trends,
According to the latest report, 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 report significantly addressed considerable changes, gap analyses, and competitive studies using qualitative and quantitative data. These include the widespread segmentation, geography, and recent developments, entailing information on the fluctuation in the demand, sales, revenue, and other parameters experienced and expected in the industry for the forecasting year i.e. 2024 to 2030.
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What is Included in Nigeria Two-Wheeler Tire Market Segmentation?
The report has segmented the market into the following categories:
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
Radial tires are expected to capture a major share of the market during the forecast period. Growing urbanization and changing commuting patterns, especially in congested city areas, lead consumers to seek tires that provide better control and maneuverability. Radial tires, with their improved handling, have become a preferred choice, contributing to a heightened share in the Nigeria Two-Wheeler Tire Market. Additionally, radial tires are known for their lower rolling resistance, a feature that enhances fuel efficiency. With the escalating fuel costs in the country, consumers are inclined to embrace radial tires as a strategic choice to economize on fuel consumption, fueling its share in the market.
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
– 2.75 x 17 – Market Size & Forecast 2019-2030, Thousand Units
– 2.75-18- Market Size & Forecast 2019-2030, Thousand Units
– 3.00 x 17 50- Market Size & Forecast 2019-2030, Thousand Units
– 3.00 – 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
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Key Factor Driver Nigeria Two-Wheeler Tire Industry Growth by 2030
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,
Who are the Key Players Operating in the Nigeria Two-Wheeler Tire Industry?
The top companies of the Nigeria Two-Wheeler Tire market ruling the industry are:
- Bridgestone Corporation
- Goodyear Tire and Rubber Company(Dunlop)
- Michelin
- Continental AG
- Yokohama TWS (Mitas)
- Pirelli Tyre S.p.A.
- Apollo Tire
- JK Tyer
- CEAT
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FAQs (Frequently Ask Questions)
- What are the industry’s overall statistics or estimates including CARG and USD Value of the forecasting years?
- What are the trends influencing the current scenario of the Nigeria Two-Wheeler Tire Market?
- What are the key factors that would propel and hinder the industry?
- Which geographical area dominates the Nigeria Two-Wheeler Tire industry?
- Which is the Leading segment in the market?
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