"Nigeria Tire Market is forecast to surpass $615 million by 2021
In 2015, tire market in Nigeria was dominated by the passenger car tire segment, and this trend is expected to continue over the next five years. Mid-West region grabbed the largest share in the country's tire market in 2015.
Over the last decade, the region has evolved as the country's economic powerhouse due to largescale infrastructure development activities, coupled with rising population and business activities. Few of the major international tire brands operating in Nigeria include Michelin, Goodyear, Bridgestone, Kumho, Hankook, Pirelli and Yokohama.
Apart from these flagship brands, several Chinese companies are also engaged in selling tires in Nigeria. On account of their significantly lower prices, Chinese tire brands have been witnessing increasing penetration in the country over the last few years.
"Nigeria Tire Market Forecast & Opportunities, 2021" report elaborates the following aspects of tire market in Nigeria:
Nigeria Tire Market Size, Share & Forecast
Segmental Analysis - Passenger cars, Commercial vehicles, Two-Wheelers, Three wheelers and OTR tires
Policy & Regulatory Landscape
Changing Market Trends and Emerging Opportunities
Competitive Landscape and Strategic Recommendations
Market Trends & Developments
Increasing Chinese Tire Penetration
Used Cars Overtaking New Car Market
Low Penetration of Retread Tires
Passenger Car Tire Segment - Fastest Growing Segment