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