According to the TechSci Research report, “Nigeria Tire Market Forecast & Opportunities, 2021’’, the tire market in Nigeria is forecast to surpass $615 million by 2021. Report URL :- https://www.techsciresearch.com/report/nigeria-tire-market-forecast-and-opportunities-2021/793.html

1. Nigeria Tire Market
Forecast & Opportunities, 2021
M a r k e t I n t e l l i g e n c e . C o n s u l t i n g

2. Ta b l e o f C o n t e n t s
S. No. Contents
1. Product Overview
2. Research Methodology
3. Analyst View
4. Nigeria Tire Market Outlook
4.1. Market Size & Forecast
4.1.1. By Value & Volume
4.2. Market Share & Forecast
4.2.1. By Vehicle Type
4.2.2. By Tire Type (Radial Vs. Bias)
4.2.3. By Company
4.2.4. By Region
4.2.5. Market Attractiveness Index – By Vehicle Type
5. Nigeria Passenger Car Tire Market Outlook
5.1. Market Size & Forecast
5.1.1. By Value & Volume
5.2. Market Share & Forecast
5.2.1. By Vehicle Type
5.3. Popular Sizes
6. Nigeria Two Wheeler (2W) Tire Market Outlook
6.1. Market Size & Forecast
6.1.1. By Value & Volume
2

3. Ta b l e o f C o n t e n t s
S. No. Contents
6.2. Market Share & Forecast
6.2.1. By Vehicle Type
6.3. Popular Sizes
7. Nigeria Commercial Vehicle Tire Market Outlook
7.1. Market Size & Forecast
7.1.1. By Value & Volume
7.2 Market Share & Forecast
7.2.1 By Vehicle Type
7.3. Popular Tire Sizes
8. Nigeria Three Wheeler Tire Market Outlook
8.1. Market Size & Forecast
8.1.1. By Value & Volume
8.2. Market Share & Forecast
8.2.1. By Vehicle Type
8.3. Popular Tire Sizes
9. Nigeria Off-the-Road (OTR) Tire Market Outlook
9.1. Market Size & Forecast
9.1.1. By Value & Volume
9.2. Market Share & Forecast
9.2.1. By Vehicle Type
9.3. Popular Tire Sizes
3

4. Ta b l e o f C o n t e n t s
S. No. Contents
10. Import Analysis
11. Market Dynamics
11.1. Drivers
11.2. Challenges
12. Market Trends & Developments
12.1. Increasing Chinese Tire Penetration
12.2. Used Cars Overtaking New Car Market
12.3. Low Penetration of Retread Tires
12.4. Passenger Car Tire Segment– Fastest growing segment
12.5. Growing Demand for Radial Tires
13. Policy & Regulatory Landscape
14. Nigeria Economic Profile
15. Competitive Landscape
15.1. Michelin Tyre Services Company Ltd.
15.2. Bridgestone Corporation
15.3. Goodyear Tire & Rubber Company
15.4. Hankook Tire Co. Ltd.
15.5. Continental AG
15.6. Pirelli & C. SpA.
15.7. The Yokohama Rubber Co., Ltd.
15.8. Kumho Tire Co., Inc
4

5. Ta b l e o f C o n t e n t s
S. No. Contents
15.9. GT Radial
15.10. Shandong Wanda BOTO Tyre Co. Ltd.
16. Strategic Recommendations
17. About Us & Disclaimer
5

6. P r o d u c t O v e r v i e w
6
© TechSci Research
Global tire supplier Michelin defines tire as “A precisely engineered assembly of rubber,
chemicals, fabric, and metal, designed to provide traction, cushion road shock and
carry a load under varying conditions.”
Classification According to Vehicle Type
Product Definition
Vehicle Segment Sub-Segment Customer Segment
Passenger Car
Sedans
Individuals
SUV/Station wagons/MUV
Commercial Vehicle
Light Trucks, Buses Transport Companies, Logistics,
Small Business Entrepreneurs,
GovernmentMedium & Heavy Trucks
Two-wheeler
Scooter
Individuals
Motorcycle
Three-Wheeler
Passenger Carrier Passenger Transport
Load Carrier Logistics
OTR (Off-the-Road)
Vehicle
Mining, Construction and Industrial
Equipment
Mining companies, Construction
companies and Industries
Agriculture Vehicle Farmers
Others (Go-cart Vehicles, Golf Cart Vehicles,
Special Purpose Vehicles, etc. )
Sports companies, Adventure
activity industries etc.

7. 7
© TechSci Research
R e s e a r c h M e t h o d o l o g y
A
C
B
Primary
Research
Company
Analysis
Desk
Research
 Identifying Key Opinion
Leaders
 Questionnaire Design
 In-depth Interviews
 Market Participants
 Key Strengths
 Tire Portfolio
 OEM Tie-ups
 Recent
Developments
 Market Changing
Aspects/Dynamics
 Government
Policies
 Final Conclusion
 LinkedIn
 TechSci Internal
database
 Factiva
 Hoovers
Paid Sources
 Company Website
 Company Annual
Reports
 White Paper Study
 Financial Reports
 Investor
Presentations
 Regulatory Body,
 Associations, etc.
Secondary
Research
Primary
Research
Data
Collection
Data Filter
& Analysis
Research &
Intelligence
Actionable
Insights
Business
Solution
•In-depth secondary research was used to
determine top players in Nigeria tire market,
overall market size and to identify top
automobile tire manufactures.
Market Profiling
•In order to conduct industry experts interviews,
TechSci Research formulated a detailed
questionnaire.
Formulating Questionnaire
•List of industry players (manufacturers),
distributors, retailers, and industry specialists
was developed.
Developing list of respondents
•TechSci Research conducted interviews with
industry experts, industry players, for data
collection and verification.
Data Collection
•Data obtained as a result of primary and
secondary research was validated through
rigorous triangulation.
Data Validation
•The data was scrutinized using MS-Excel and
statistical tools such as Time Series analysis etc.
to obtain qualitative and quantitative insights
about the Nigeria tire market.
Data Analysis

8. R e s e a r c h M e t h o d o l o g y
© TechSci Research
Baseline Methodology:
For the study, TechSci Research has gathered information through primary research surveys with leading
tire companies operating in Nigeria, and subsequently verified information from major dealers/distributors
of automobile tires in the country. We also put through an exhaustive search of credible paid databases
such as Business Week, Factiva, Hoovers, etc., including our internal database. Our team of analysts has
then prudently evaluated all the collected information and presented the same in chronological order to
depict a meaningful and clear picture of Nigeria tire market.
While compiling the data, we have also cross checked all the collected information from multiple sources
and data warehouses, so as to present the most accurate and precise information of the concerned
industry. We use innovative business model that focuses on improving productivity, which ensuring
creation of high-quality reports. The reports are prepared with in-depth primary research, followed by
exhaustive secondary research.
Primary Research – Companies Dealers &
Distributors Interviewed Few of Sources of Secondary Research
S. No. Company Dealers & Distributor Names
1. Bridgestone
2. Kewalram Nigeria Ltd.
3 KwikFit Auto Service Ltd.
4. Dunlop Tyre & Rubber PLC
5. Fatgbems Tires
6. Infinity Tyres
7. Kia Motors Nigeria
8. Toyota Nigeria
9. Viramsun Nigeria Limited
10. Royal United Nigeria
S. No. Secondary Sources
1. OICA
2. National Bureau of Statistics Nigeria
3. Directorate General of Foreign Trade
5. World Bank
6. International Monetary Fund
7. Central Intelligence Agency
8. Nigeria Customs Administration
8

9. R e s e a r c h M e t h o d o l o g y
9
© TechSci Research
For the preparation of Nigeria tire report, bottom-up model has been used, which has been later cross
validated by using top down approach.
Vehicle Sales & Fleet Size
The basic data points that are needed for the analysis of Nigeria tire market are the historical, current
and forecast figures for vehicle sales and fleet size. The data for vehicle sales and fleet size has been
extracted through various secondary sources and credible data portals. TechSci Research has also
maintained a database for vehicle sales and fleet size for each vehicle segment (passenger cars,
commercial vehicles, two-wheelers, three-wheelers & off-the-road vehicles), which is regularly updated
through various primary research surveys and secondary sources such as automotive associations &
government publications.
Tire Demand
OEM Tire Sales
OEM tire demand in Nigeria is directly dependent on country’s vehicle production. The OEM demand is
therefore extracted by multiplying the vehicle produced with the number of tires fitted in the vehicle.
For example, in case of passenger car, five tires are fitted by the OEM during manufacturing process.

10. R e s e a r c h M e t h o d o l o g y
10
© TechSci Research
Tire Demand
Replacement Tire Sales
Replacement tire demand of a particular country is directly dependent on country’s vehicle fleet size
and historical vehicle sales. The replacement demand is therefore extracted by multiplying the vehicle
fleet with the replacement tire ratio, which is obtained by conducting a series of surveys with car
owners to understand the frequency of tire replacement as it varies for different countries depending
upon factors such as road conditions, climate, economic and regulatory policies applicable in a country.
The replacement ratio is expressed as a percentage. For example, in case of passenger cars,
replacement ratio is considered to be 100% if four tire is replaced per vehicle per year.
Example for passenger car replacement tire demand calculation:
Passenger Car Fleet
Size (Volume)
X
Replacement Ratio
(%)
X No. of Tires =
Replacement
Tire Demand
1,00,000 X 10% X 4 = 40,000 Tires
The calculated replacement tire demand data is further analyzed by TechSci Research through Delphi
technique i.e. multiple rounds of telephonic interviews were conducted with tire companies
dealers/distributors in Nigeria. The information thus gathered through primary interviews was cross-
verified through industry experts and secondary sources such as annual reports and paid databases to
generate meaningful results.
Total Tire Market
OEM Tire Sales + Replacement Tire Sales = Total Tire Market

11. R e s e a r c h M e t h o d o l o g y
11
© TechSci Research
Tire Trade (Import & Export)
TechSci Research has analyzed tire imports in Nigeria. The data has been gathered through
government agencies and credible paid databases. The total tire trade has been segmented in
accordance with below mentioned HS codes:
HS Code Description Tire Type
401110 Motor Cars Passenger Car Tire
401120 Bus or Lorries Tires Commercial Vehicle Tire
401140 Motorcycle Tire Two-Wheeler Tire
401161 Tire Having a "Herring Bone"
OTR Tire
401162 Tire Having a "Herring Bone"
401163 Tire Having a "Herring Bone"
401169 Tire Having a "Herring Bone"
401191 Tire Having a "Herring Bone"
401192 Agriculture Tire
401193 Construction/Industrial Tire
401194 Construction/Industrial Tire
401199 Others Other Tires
The import figures for each vehicle type (Passenger Car, Commercial Vehicle, Two-Wheeler, Three-
wheelers & OTR) have been depicted in Value (USD Million).
Forecast
For forecasting the numbers, we have used Time Series Analysis along with Regression Analysis,
followed by judgmental analysis as certain factors would always differ in Nigeria such as infrastructure
condition, economic outlook, etc.

12. R e s e a r c h M e t h o d o l o g y
12
© TechSci Research
Sampling Technique:
While conducting the study, TechSci followed the stratified random sampling technique to shortlist the Key
Opinion Leaders (KOLs) in various tire companies in the country. KOLs out of prominent tire companies were
interviewed to identify the size of Nigeria tire market along with the market shares of leading tire players across
different tire segments.
Sample Size:
KOL No. of Respondents
Mid to Senior Management, Sales Managers, etc.
of Tire Companies
15
Experts from Industry and Associations 5
Total 20

13. I n d u s t r y B r i e f
13
Nigeria Tire Market Forecast to Surpass $615 Million Sales by 2021
Rising automobile sales, expanding vehicle fleet and easing government policies to drive tire market in
Nigeria through 2021
According to TechSci Research report, “Nigeria Tire Market Forecast and Opportunities, 2021”, the tire
market in Nigeria is forecast to surpass $615 million by 2021. Growing vehicle sales, expanding
automobile fleet and increasing infrastructure development are some of the major factors anticipated to
boost the demand for tires in the country over the next five years. In Nigeria, automobile sales
increased from 0.30 million units in 2011 to 0.35 million units in 2015,exhibiting a CAGR of 4.35%, in
volume terms, during 2011-2015.
Due to the absence of OEM vehicle production in the country, Nigeria’s tire industry is entirely dependent
on the replacement tire market. In 2015, the passenger car tire segment dominated the Nigeria tire
market, followed by two-wheelers, commercial vehicles, three-wheeler and OTR vehicles. Owing to easy
finance options and growing purchasing power of consumers, the adoption rate of passenger cars in the
country is increasing at a robust pace. As a result, the passenger car tire segment is anticipated to
maintain its dominance in the country’s tire market over the next five years as well.
“The dominating presence of various multinational companies such as Bridgestone, Goodyear, Michelin,
etc. intensified the tire market of the country in 2015. However, as there isn’t any tire manufacturing
facility present in the country, the domestic demand for the product is solely dependent on the imports
in Nigeria. Moreover, the widespread presence of well-established network of dealers and distributors is
enhancing the market share of the above mentioned renowned tire companies in Nigeria.”, said Mr. Karan
Chechi, Research Director with TechSci Research, a research based global management consulting firm.

14. S a m p l e D a t a - S n a p s h o t
Nigeria Tire Market Size, By Value (USD Million),
By Volume (Million Units), 2011-2021F
14
© TechSci Research
100 200 300 400
500 600 700 800 900 1,000 1,100
150 300
450 600 750 900 1,050
1,200
1,350 1,500 1,650
2011 2012 2013 2014 2015 2016E 2017F 2018F 2019F 2020F 2021F
Value (USD Million) Volume (Million Units) Source:XXXXX
Note: These are dummy figures; please purchase our report for actual data
Nigeria Tire Market Share, By Company, By Volume, 2015-2021F
10% 10% 10% 10% 10% 10% 10%
15% 15% 15% 15% 15% 15% 15%
20% 20% 20% 20% 20% 20% 20%
25% 25% 25% 25% 25% 25% 25%
30% 30% 30% 30% 30% 30% 30%
2015 2016E 2017F 2018F 2019F 2020F 2021F
Others* Goodyear Bridgestone Michelin Chinese Tires**
Nigeria Tire Market Attractiveness Index, By
Vehicle Type, By Volume, 2015
0.00%
1.00%
2.00%
3.00%
4.00%
5.00%
6.00%
0.00 1.00 2.00 3.00 4.00 5.00 6.00
Commercial
Vehicle
OTR
Vehicle
Passenger
Car
Two-
Wheeler
Three-
Wheeler
Nigeria OTR Tire Market Share, By Vehicle Type, By
Volume, 2015-2021F
33% 33% 33% 33% 33% 33% 33%
34% 34% 34% 34% 34% 34% 34%
33% 33% 33% 33% 33% 33% 33%
2015 2016F 2017F 2018F 2019F 2020F 2021F
Agriculture Equipment
Construction and Mining Equipment
Others*
Nigeria Tire Market Share, By Vehicle Type,
By Volume, 2011-2021F
2.00% 2.00% 2.00% 2.00% 2.00% 2.00% 2.00% 2.00% 2.00% 2.00% 2.00%
15% 15% 15% 15% 15% 15% 15% 15% 15% 15% 15%13%
13% 13% 13% 13% 13% 13% 13% 13% 13% 13%
20% 20% 20% 20% 20% 20% 20% 20% 20% 20% 20%
50% 50% 50% 50% 50% 50% 50% 50% 50% 50% 50%
2011 2012 2013 2014 2015 2016E 2017F 2018F 2019F 2020F 2021F
OTR Three Wheeler Commercial Vehicle
20% 20% 20% 20% 20% 20% 20%
80% 80% 80% 80% 80% 80% 80%
2015 2016E 2017F 2018F 2019F 2020F 2021F
Load Carrier Passenger Carrier
Nigeria Three-Wheeler Tire Market Share, By Vehicle
Type, By Volume, 2015-2021F
Nigeria Two-Wheeler Tire Market Size, By Value (USD
Million), By Volume (Million Units), 2011-2021F
1 2 3 4 5 7 8 9 10 11 12
3 5 7 9 11 15 17 19 21 23 25
2011 2012 2013 2014 2015 2016E 2017F 2018F 2019F 2020F 2021F
Value (USD Billion) Volume (Million Unit)

15. R e p o r t O r d e r i n g
To View Sample OR Purchase Report
Report Price
Report Name: Nigeria Tire Market Forecast & Opportunities, 2021
License Type Price
Electronic Access - Single User License $2500
CD-ROM Mail Delivery $3000
Hard Copy Mail Delivery $3500
Electronic Access - Multi-User License $5000

16. 16
A b o u t U s & D i s c l a i m e r
© TechSci Research
TechSci Research – North America
708 Third Avenue, Manhattan,
New York, United States
Tel: +1- 646- 360- 1656
Email: sales@techsciresearch.com
www.techsciresearch.com
About Us
TechSci Research is a global market research and consulting company with offices in US, UK and India. TechSci Research provides
market research reports in a number of areas to organizations. The company uses innovative business models that focus on improved
productivity, while ensuring creation of high-quality reports. The proprietary forecasting models use various analyses of both industry-
specific and macroeconomic variables on a state-by-state basis to produce a unique ‘bottom-up’ model of a country, regional and global
industry prospects. Combined with the detailed analysis of company activity and industry trends, the result is a uniquely rich evaluation
of the opportunities available in the market.
Related Reports
Iran Tire Market Forecast & Opportunities, 2021
Oman Tire Market Forecast & Opportunities, 2021
Qatar Tire Market Forecast & Opportunities, 2020
Partial List of Clients
Disclaimer
The contents of this report are based on information generally available to the public from sources believed to be reliable. No representation is made that
it is timely, accurate or complete. TechSci Research has taken due care and caution in compilation of data as this has been obtained from various sources
including which it considers reliable and first hand. However, TechSci Research does not guarantee the accuracy, adequacy or completeness of any
information and it is not responsible for any errors or omissions or for the results obtained from the use of such information and especially states that it
has no financial liability whatsoever to the subscribers / users of this report. The information herein, together with all estimates and forecasts, can change
without notice. All the figures provided in this document are indicative of relative market size and are strictly for client’s internal consumption. Usage of
the same for purpose other than internal will require prior approval of TechSci Research.
TechSci Research – Europe
54, Oldbrook, Bretton,
Peterborough,
United Kingdom
Email: sales@techsciresearch.com
www.techsciresearch.com
TechSci Research – Asia-Pacific
B – 44, Sector -57, Noida, National
Capital Region, U.P. - India
Tel: +91-120-4523900
Email: sales@techsciresearch.com
www.techsciresearch.com