Nigeria Two-Wheeler Tire Market Growth, Size, Trends, Demand, Revenue and Future Outlook: SPER Market Research

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Published: Mar 2024	Report ID: AMIN24103	Pages: 1 - 105	Formats^*:
Category : Automotive & Transportation

Nigeria Two-Wheeler Tire Market Introduction and Overview

According to SPER Market Research, the Nigeria Two-Wheeler Tire Market is estimated to reach USD XX Billion by 2033 with a CAGR of 8.5%.

The report includes an in-depth analysis of the Nigeria Two-Wheeler Tire Market, including market size and trends, product mix, applications, and supplier analysis. Two-wheeler tyres are specially designed tyres for two-wheeled vehicles like motorcycles, scooters, bicycles, and mopeds. These tyres are vital to the two-wheeled vehicle's overall safety and performance since they provide grip, stability, and control to the rider.

In 2024: Spiro, Africa's largest electric vehicle (EV) player, plans to expand into Nigeria, offering innovative electric bikes and smart battery-swapping technologies in Ogun Province.

In 2022: Uber stated that it would add a motorbike component, UberMoto, to its Nigerian product offering.

Market Opportunities and Challenges

The market's growth is primarily driven by rising traffic congestion and the increased use of two-wheelers by urban residents and enterprises, among other factors. The growing problem of traffic congestion in Nigerian cities such as Lagos and Kano has become a major worry in recent years. As a result, people in these cities are turning to alternative modes of transportation, such as two-wheelers, to avoid traffic congestion. As more individuals use motorbikes and scooters to navigate traffic congestion, the number of these vehicles on the road grows. This increase in two-wheeler usage raises the demand for tyres, both for new vehicles and to replace worn-out ones.

Furthermore, the two-wheeler market in Nigeria has grown rapidly, especially in the commercial sector. Many companies in the country have started offering shared mobility services on two-wheelers. Furthermore, companies like Chowdeck and Gofood have expanded their food delivery services across Nigeria. These platforms mostly use scooters and motorbikes for delivery services, leveraging their convenience and manoeuvrability. As a result of the spike in the adoption of two-wheelers for commercial applications, sales have increased significantly across the country. As a result, as commercial motorcycle sales increase, so will demand for two-wheeler tyres in Nigeria. This is expected to increase the size and volume of the Nigeria Two-Wheeler Tyre Market throughout the forecast period.

However, Nigeria is dealing with an increasing problem of illicit two-wheeler tyre traffic, which is characterised by deceptive techniques such as misdeclaration and rerouting to avoid duties. The rise of such illicit trade is mostly due to certain businesses and people engaging in deceptive techniques or using other routes to circumvent the legal and financial duties related with tyre imports. The growing illegal trade in two-wheeler tyres is increasing the prevalence of counterfeit products in the region and creating unfair competition throughout the market. Thus, increased illegal trade operations in Nigeria would have a substantial impact on the market's future growth and expansion. Moreover, fluctuating raw material prices, driven by scarcity of natural rubber and rising oil prices, hinder the two-wheeler tire market due to its dependence on crude derivatives.

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Market Competitive Landscape

The major key players in the Nigeria Two-Wheeler Tire Market are: Apollo Tire, Bridgestone Corporation, CEAT, Continental AG, The Goodyear Tire & Rubber Company (Dunlop), JK Tire, Michelin, Pirelli Tyre S.p.A., Yokohama TWS (Mitas), Others.

Scope of the Report:

Report Metric	Details
Market size available for years	2020-2033
Base year considered	2023
Forecast period	2024-2033
Segments covered	By Vehicle Type, By Demand Type, By Tire Type, By Price Category, By Sales Channel
Regions covered	East Region, Midwest Region, North Region, West Region
Companies Covered	Apollo Tire, Bridgestone Corporation, CEAT, Continental AG, The Goodyear Tire & Rubber Company (Dunlop), JK Tire, Michelin, Pirelli Tyre S.p.A., Yokohama TWS (Mitas), Others

COVID-19 Impact on Nigeria Two-Wheeler Tire Market

The COVID-19 epidemic had a wide-ranging impact on the market. Several two-wheeler tyre producers are having difficulty acquiring raw materials because the supply chain has been interrupted due to the imposed shutdown. However, prohibitions have been removed in several parts of the world, resulting in increased market expansion.

Key Target Audience:

Automotive aftermarket retailers and distributors
Dealerships and service centres specializing in two-wheelers
Government agencies responsible for transportation and road safety regulations
Investors and stakeholders interested in the automotive industry
Research and development organizations focusing on tire technology and innovation
Riders and owners of motorcycles, scooters, and bicycles
Tire manufacturers and suppliers
Two-wheeler manufacturers
Others

Our in-depth analysis of the Nigeria Two-Wheeler Tire Market includes the following segments:

By Vehicle Type:	Motorcycle Scooter and Moped
By Demand Type:	OEMs Replacement
By Tire Type:	Bias Radial
By Price Category:	Budget Economy Premium
By Sales Channel:	Exclusive Outlets Multi Brand Stores Online Others

Key Topics Covered in the Report:

Nigeria Two-Wheeler Tire Market Size (FY’2024-FY’2033)
Overview of Nigeria Two-Wheeler Tire Market
Segmentation of Nigeria Two-Wheeler Tire Market By Vehicle Type (Motorcycle, Scooter and Moped)
Segmentation of Nigeria Two-Wheeler Tire Market By Demand Type (OEMs, Replacement r)
Segmentation of Nigeria Two-Wheeler Tire Market By Tire Type (Bias, Radial)
Segmentation of Nigeria Two-Wheeler Tire Market By Price Category (Budget, Economy, Premium)
Segmentation of Nigeria Two-Wheeler Tire Market By Sales Channel (Exclusive Outlets, Multi Brand Stores, Online, Others)
Statistical Snap of Nigeria Two-Wheeler Tire Market
Expansion Analysis of Nigeria Two-Wheeler Tire Market
Problems and Obstacles in Nigeria Two-Wheeler Tire Market
Competitive Landscape in the Nigeria Two-Wheeler Tire Market
Impact of COVID-19 and Demonetization on Nigeria Two-Wheeler Tire Market
Details on Current Investment in Nigeria Two-Wheeler Tire Market
Competitive Analysis of Nigeria Two-Wheeler Tire Market
Prominent Players in the Nigeria Two-Wheeler Tire Market
SWOT Analysis of Nigeria Two-Wheeler Tire Market
Nigeria Two-Wheeler Tire Market Future Outlook and Projections (FY’2024-FY’2033)
Recommendations from Analyst

1. Introduction

1.1. Scope of the report
1.2. Market segment analysis

2. Research Methodology

2.1. Research data source
2.1.1. Secondary Data
2.1.2. Primary Data
2.1.3. SPER’s internal database
2.1.4. Premium insight from KOL’s
2.2. Market size estimation
2.2.1. Top-down and Bottom-up approach
2.3. Data triangulation

3. Executive Summary

4. Market Dynamics

4.1. Driver, Restraint, Opportunity and Challenges analysis
4.1.1. Drivers
4.1.2. Restraints
4.1.3. Opportunities
4.1.4. Challenges

4.2. COVID-19 Impacts of the Nigeria Two-Wheeler Tire Market

5. Market variable and outlook

5.1. SWOT Analysis
5.1.1. Strengths
5.1.2. Weaknesses
5.1.3. Opportunities
5.1.4. Threats
5.2. PESTEL Analysis
5.2.1. Political Landscape
5.2.2. Economic Landscape
5.2.3. Social Landscape
5.2.4. Technological Landscape
5.2.5. Environmental Landscape
5.2.6. Legal Landscape
5.3. PORTER’s Five Forces
5.3.1. Bargaining power of suppliers
5.3.2. Bargaining power of buyers
5.3.3. Threat of Substitute
5.3.4. Threat of new entrant
5.3.5. Competitive rivalry
5.4. Heat Map Analysis

6. Competitive Landscape

6.1. Nigeria Two-Wheeler Tire Market Manufacturing Base Distribution, Sales Area, Product Type
6.2. Mergers & Acquisitions, Partnerships, Product Launch, and Collaboration in Nigeria Two-Wheeler Tire Market

7. Nigeria Two-Wheeler Tire Market, By Vehicle Type (USD Million)

7.1. Nigeria Two-Wheeler Tire Market Value Share and Forecast, By Vehicle Type, 2024-2033
7.2. Motorcycle
7.3. Scooter and Moped

8. Nigeria Two-Wheeler Tire Market, By Demand Type (USD Million)

8.1. Nigeria Two-Wheeler Tire Market Value Share and Forecast, By Demand Type, 2024-2033
8.2. OEMs
8.3. Replacement

9. Nigeria Two-Wheeler Tire Market, By Tire Type (USD Million)

9.1. Nigeria Two-Wheeler Tire Market Value Share and Forecast, By Tire Type, 2024-2033
9.2. Bias
9.3. Radial

10. Nigeria Two-Wheeler Tire Market, By Price Category (USD Million)

10.1. Nigeria Two-Wheeler Tire Market Value Share and Forecast, By Price Category, 2024-2033
10.2. Budget
10.3. Economy
10.4. Premium

11. Nigeria Two-Wheeler Tire Market, By Sales Channel (USD Million)

11.1. Nigeria Two-Wheeler Tire Market Value Share and Forecast, By Sales Channel, 2024-2033
11.2. Exclusive Outlets
11.3. Multi Brand Stores
11.4. Online
11.5. Others

12. Nigeria Two-Wheeler Tire Market Forecast, 2020-2033 (USD Million)

12.1. Nigeria Two-Wheeler Tire Market Size and Market Share

13. Nigeria Two-Wheeler Tire Market, By Vehicle Type, 2020-2033 (USD Million)

13.1. Nigeria Two-Wheeler Tire Market Size and Market Share By Vehicle Type (2020-2026)
13.2. Nigeria Two-Wheeler Tire Market Size and Market Share By Vehicle Type (2027-2033)

14. Nigeria Two-Wheeler Tire Market, By Demand Type, 2020-2033 (USD Million)

14.1. Nigeria Two-Wheeler Tire Market Size and Market Share By Demand Type (2020-2026)
14.2. Nigeria Two-Wheeler Tire Market Size and Market Share By Demand Type (2027-2033)

15. Nigeria Two-Wheeler Tire Market, By Tire Type, 2020-2033 (USD Million)

15.1. Nigeria Two-Wheeler Tire Market Size and Market Share By Tire Type (2020-2026)
15.2. Nigeria Two-Wheeler Tire Market Size and Market Share By Tire Type (2027-2033)

16. Nigeria Two-Wheeler Tire Market, By Price Category, 2020-2033 (USD Million)

16.1. Nigeria Two-Wheeler Tire Market Size and Market Share By Price Category (2020-2026)
16.2. Nigeria Two-Wheeler Tire Market Size and Market Share By Price Category (2027-2033)

17. Nigeria Two-Wheeler Tire Market, By Sales Channel, 2020-2033 (USD Million)

17.1. Nigeria Two-Wheeler Tire Market Size and Market Share By Sales Channel (2020-2026)
17.2. Nigeria Two-Wheeler Tire Market Size and Market Share By Sales Channel (2027-2033)

18. Nigeria Two-Wheeler Tire Market, By Region, 2020-2033 (USD Million)

18.1. Nigeria Two-Wheeler Tire Market Size and Market Share By Region (2020-2026)
18.2. Nigeria Two-Wheeler Tire Market Size and Market Share By Region (2027-2033)
18.3. East Region
18.4. Midwest Region
18.5. North Region
18.6. West Region

19. Company Profile

19.1. Apollo Tire
19.1.1. Company details
19.1.2. Financial outlook
19.1.3. Product summary
19.1.4. Recent developments
19.2. Bridgestone Corporation
19.2.1. Company details
19.2.2. Financial outlook
19.2.3. Product summary
19.2.4. Recent developments
19.3. CEAT
19.3.1. Company details
19.3.2. Financial outlook
19.3.3. Product summary
19.3.4. Recent developments
19.4. Continental AG
19.4.1. Company details
19.4.2. Financial outlook
19.4.3. Product summary
19.4.4. Recent developments
19.5. The Goodyear Tire & Rubber Company (Dunlop)
19.5.1. Company details
19.5.2. Financial outlook
19.5.3. Product summary
19.5.4. Recent developments
19.6. JK Tire
19.6.1. Company details
19.6.2. Financial outlook
19.6.3. Product summary
19.6.4. Recent developments
19.7. Michelin
19.7.1. Company details
19.7.2. Financial outlook
19.7.3. Product summary
19.7.4. Recent developments
19.8. Pirelli Tyre S.p.A.
19.8.1. Company details
19.8.2. Financial outlook
19.8.3. Product summary
19.8.4. Recent developments
19.9. Yokohama TWS (Mitas)
19.9.1. Company details
19.9.2. Financial outlook
19.9.3. Product summary
19.9.4. Recent developments
19.10. Others

20. List of Abbreviations

21. Reference Links

22. Conclusion

23. Research Scope

SPER Market Research’s methodology uses great emphasis on primary research to ensure that the market intelligence insights are up to date, reliable and accurate. Primary interviews are done with players involved in each phase of a supply chain to analyze the market forecasting. The secondary research method is used to help you fully understand how the future markets and the spending patterns look likes.

The report is based on in-depth qualitative and quantitative analysis of the Product Market. The quantitative analysis involves the application of various projection and sampling techniques. The qualitative analysis involves primary interviews, surveys, and vendor briefings. The data gathered as a result of these processes are validated through experts opinion. Our research methodology entails an ideal mixture of primary and secondary initiatives.

SPER-Methodology-1

SPER-Methodology-2

SPER-Methodology-3

Frequently Asked Questions About This Report

What is the conclusion of the Nigeria Two-Wheeler Tire Market?

How big is the Nigeria Two-Wheeler Tire Market?

Nigeria Two-Wheeler Tire Market is projected to reach USD XX Billion by 2033, growing at a CAGR of 8.5% during the forecast period.

What is the growth rate of the Nigeria Two-Wheeler Tire Market?

Nigeria Two-Wheeler Tire Market size from 2022. The Market is expected to reach USD XX Billion by 2033, at a CAGR of 8.5% during the forecast period.

What is the anticipated CAGR of the Nigeria Two-Wheeler Tire Market?

Nigeria Two-Wheeler Tire Market CAGR of 8.5% during the forecast period.

How can I get a sample report on the Nigeria Two-Wheeler Tire Market?

You can get the sample pages by clicking the link - Click Here

What is the market size of the Nigeria Two-Wheeler Tire Market?

Nigeria Two-Wheeler Tire Market size is XX Billion from 2024 to 2033.

Which segment is expected to Nigeria Two-Wheeler Tire Market?

Nigeria Two-Wheeler Tire Market Segment is covered By Vehicle Type, By Demand Type, By Tire Type, By Price Category, By Sales Channel.

Which region is expected to have the highest market share in the Nigeria Two-Wheeler Tire Market?

The Africa is anticipated to have the highest market share in the Nigeria Two-Wheeler Tire Market.

Who are the key players in Nigeria Two-Wheeler Tire Market?

The key players in the market include Companies Covered AECC (Automotive Exhaust Catalysts Corporation), Anhui Baolong Environmental Protection Technology Co, Ltd, Automotive Test Systems, Bosch, Delphi Technologies, Doppler Environmental Protection Technology Co, Ltd, Hager Environmental & Atmospheric Technologies.