The latest report by MarkNtel Advisors, titled “Nigeria Two-Wheeler Tire Market Report By Vehicle Type (Scooter and Moped, Motorcycle), By Demand Type (OEMs, Replacement), By Tire Type (Radial, Bias), By Price Category (Budget, Economy, Premium), By Sales Channel (Online, Multi Brand Stores, Exclusive Outlets, Others), By Tire Size (80/100-17, 100/90-17, 2.75 x 17, 2.75-18, 3.00 x 17 50, 3.00 – 18, 90/90 – 17, Others) others, and Region 2024-2030”, offers a comprehensive analysis of the industry, which comprises insights on the Nigeria Two-Wheeler Tire Market research report.
What is the market outlook for Nigeria Two-Wheeler Tire?
The Nigeria Two-Wheeler Tire Market size is estimated to grow at a CAGR of around 8.64% during the forecast period 2024–30.
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Major Companies Operating in the Nigeria Two-Wheeler Tire Industry:
Bridgestone Corporation, The Goodyear Tire & Rubber Company (Dunlop), Michelin, Continental AG, Yokohama TWS (Mitas), Pirelli Tyre S.p.A., Apollo Tire, JK Tire, CEAT, Others
Nigeria Two-Wheeler Tire Market Report Segmentation:
By Vehicle Type
-Scooter and Moped
-Motorcycle
- The motorcycle segment held a prominent market share due to increasing consumer preference for motorcycles for delivery purposes.
By Demand Type
-OEMs
-Replacement
By Tire Type
-Radial
-Bias
By Price Category
-Budget (Up to USD11 Per Unit)
-Economy (USD12 to 30 Per unit)
-Premium (Above USD30 Per Unit)
By Sales Channel
-Online
-Multi Brand Stores
-Exclusive Outlets
-Others
By Tire Size
-80/100-17
-100/90-17
-2.75 x 17
-2.75-18
-3.00 x 17 50
-3.00 – 18
-90/90 – 17
-Others (110/80-17, 90/90-18, 100/80-17,110/70-17,150/60-17, 120/80 – 17 etc.)
Learn More About the Market Report – https://www.marknteladvisors.com/research-library/nigeria-two-wheeler-tire-market.html
Regional Insights:
By Region
-Midwest
-North
-East
-West
Nigeria Two-Wheeler Tire Market Trend: Increasing Fleet of Ride-Hailing Companies to Support Market Growth
Nigeria has been severely facing traffic congestion issues due to poor road infrastructure. These traffic jams devour nearly half of the daily commute time of individuals. As a result, individuals in the country leave early for work and prefer to use bike taxis for daily commuting purposes. Thus, Nigeria is emerging as a hotbed for ride-hailing app usage. The high usage of bike taxis in the region is resulting in wear and tear of the tires, enhancing the requirement for replacement at frequent intervals. In addition, the growing demand for ride-hailing motorcycle taxis is also leading companies, such as Uber, Bolt, etc., to expand their motorcycle fleets in the country. For instance,
In 2022, Uber announced the addition of a motorbike section, UberMoto, to its product offering in Nigeria.
Thus, the growing expansion of ride-hailing motorcycle taxis would further generate the demand for tires across the country and augment the size & volume of the Nigeria Two-wheeler Tire Market during the forecast period.
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