"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
- Growing Radial Tire Market
- Bridgestone Corporation
- Continental AG
- GT Radial
- Goodyear Tire & Rubber Company
- Hankook Tire Co. Ltd.
- Kumho Tire Co., Inc.
- Michelin Tyre Services Company Ltd.
- Pirelli & C. SpA.
- Shandong Wanda BOTO Tyre Co. Ltd.
- The Yokohama Rubber Co., Ltd.
For more information about this report visit http://www.researchandmarkets.com/research/bmjss5/nigeria_tire
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SOURCE Research and Markets