Nigeria Off the Road (OTR) Tire Market Outlook 2030: Leading Companies & Share Insights

Nigeria Off the Road (OTR) Tire Market Size & Insights

Growth of Agricultural Activities and Mechanization – The agriculture sector is a major driver of the Nigeria Off the Road (OTR) Tire Market. Nigeria's target is to reduce the dependency on imports of agricultural products, hence moving towards increasing agricultural productivity. The agriculture sector contributes approximately 22% of the total GDP of Nigeria growing by 1.13 %. This agricultural sector heavily relies on various vehicles and specialized OTR tires. The growing trend towards mechanization in Nigeria for farming purposes to enhance productivity and efficiency needs special vehicles. Vehicles that can operate in rugged terrains and under challenging conditions like Tractors, Harvesters, Plows, Cultivators, and Transport Trucks are required with specialized OTR tires. Specialized OTR tires will continue to be necessary to support the expansion and operational success of the agriculture industry.

What are the Key DROs in the Nigeria Off the Road (OTR) Tire Market?

Growing Gaming Industry Fueling Market Demand – The market growth is driven by the significantly growing gaming industry in the world. For instance, as of 2024, there are more than 6 billion active gamers globally, which has increased the demand for comfortable devices’ displays and screens. These screens help to reduce eye strain for long gaming sessions. Devices like Smartphones, monitors, gaming consoles, etc., which are used for gaming purposes, possess curved screens, thus augmenting the size & volume of the industry.

What are the Key Segments in the Nigeria Off the Road (OTR) Tire Market?

The Nigeria Off the Road (OTR) Tire is categorized into notable segments, which help in understanding the structure, dynamics, and opportunities within the market. These segments are typically based on:

By Type of Vehicle

Earthmoving Equipment
- Excavator
- Loaders
- Bulldozers
- Graders
- Road Roller
- Others
Agricultural Equipment
- Tractors
- Combined Harvester
- Farm Trucks
- Others
Material Handling Equipment
- Cranes
- Forklifts
- Others

In Nigeria's Off-the-Road (OTR) Tire Market agricultural equipment is the leading segment with more than 40% of the market share supported by the country's agricultural sector.

By Tire Size

Tire Size 1
Tire Size 2
Tire Size 3
Tire Size 4
Tire Size 5

By Demand Type

OEM
Replacement

By Type of Tire

Radial
Bias

By Sales Channel

Exclusive Stores
Authorized Dealers or Distributors
Online
Others

The authorized dealers or distributors segment is dominating the Nigeria Off the Road (OTR) Tire Market.

By Price Category

Budget (Upto USD500 per unit)
Economy (USD501 to 1,500 per unit)
Premium (Above USD1,500 per unit)

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How does geographical analysis highlight in the Nigeria Off the Road (OTR) Tire market?

By Region

North
South
East
West

Who are the Key Players in Nigeria Off the Road (OTR) Tire Market?

Pirelli
Michelin
Bridgestone
Continental
Goodyear
Zhongce Rubber
Triangle
Yokohama
BF Goodrich
Double Coin
Others

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Nigeria Off the Road (OTR) Tire Market News

In June 2024, The Government of South Korea pledged a total of $24 billion in development and trade assistance for the benefit of African nations including Nigeria. This was captured in a Joint Declaration from the 2024 Korea-Africa Summit held in Seoul, Korea.

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