Nigeria Off the Road (OTR) Tire Market Size, Share, Trends, Growth Analysis, Report 2025-2030

The Nigeria Off the Road (OTR) Tire Market size is valued at around USD 70 million in 2024 and is projected to reach around USD 87 million by 2030. Along with this, the market is estimated to grow at a CAGR of around 3.8% during the forecast period i.e., 2025-30. According to MarkNtel Advisors Study.

Nigeria Off the Road (OTR) Tire Market Driver:

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. For instance,

September 2024, The Minister of Finance and Coordinating Minister of the Economy, has announced to accelerate the implementation of the National Agricultural Growth Scheme – Agro-Pocket (NAGS-AP). The NAGS-AP initiative is designed to stimulate increased productivity and higher yields among farmers, ensuring a significant impact on food production and agricultural growth across the country.

September 2024, The Ekiti State Ministry of Agricultural Development and Food Security and Hello Tractor have agreed on a strategic partnership to boost mechanized farming in Nigeria. It will empower smallholder farmers and lead to more efficiency in farming through mechanization like Tractors or harvesters with OTR tires. 

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Key Market Reports Highlights

·        Market Dimensions & Projections

·        Pricing Evaluation

·        Recent Strategic Moves by Companies

·        Primary Stakeholders

·        Import/Export Trend Analysis

·        Competitive Landscape Assessment

·        Emerging Opportunities

·        Market Trends and Indicators

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Nigeria Off the Road (OTR) Tire Market Segmentation:

The market report categorizes the market based on different segments and geographical analysis.

Study Timeline:

-Base Year: 2024

-Historical Period: 2020 to 2023

-Forecast Period: 2025 to 2030

• By Type of Vehicle
• Earthmoving Equipment- Market Size & Forecast 2020-2030, Thousand Units
• Excavator- Market Size & Forecast 2020-2030, Thousand Units
• Loaders- Market Size & Forecast 2020-2030, Thousand Units
• Bulldozers- Market Size & Forecast 2020-2030, Thousand Units
• Graders- Market Size & Forecast 2020-2030, Thousand Units
• Road Roller- Market Size & Forecast 2020-2030, Thousand Units
• Others- Market Size & Forecast 2020-2030, Thousand Units
• Agricultural Equipment- Market Size & Forecast 2020-2030, Thousand Units
• Tractors- Market Size & Forecast 2020-2030, Thousand Units
• Combined Harvester- Market Size & Forecast 2020-2030, Thousand Units
• Farm Trucks- Market Size & Forecast 2020-2030, Thousand Units
• Others- Market Size & Forecast 2020-2030, Thousand Units
• Material Handling Equipment- Market Size & Forecast 2020-2030, Thousand Units
• Cranes- Market Size & Forecast 2020-2030, Thousand Units
• Forklifts- Market Size & Forecast 2020-2030, Thousand Units
• Others- Market Size & Forecast 2020-2030, Thousand Units
• By Tire Size
• Tire Size 1- Market Size & Forecast 2020-2030, Thousand Units
• Tire Size 2 - Market Size & Forecast 2020-2030, Thousand Units
• Tire Size 3 - Market Size & Forecast 2020-2030, Thousand Units
• Tire Size 4 - Market Size & Forecast 2020-2030, Thousand Units
• Tire Size 5 - Market Size & Forecast 2020-2030, Thousand Units
• By Demand Type
• OEM- Market Size & Forecast 2020-2030, Thousand Units
• Replacement- Market Size & Forecast 2020-2030, Thousand Units
• By Type of Tire
• Radial- Market Size & Forecast 2020-2030, Thousand Units
• Bias- Market Size & Forecast 2020-2030, Thousand Units
• By Sales Channel
• Exclusive Stores- Market Size & Forecast 2020-2030, Thousand Units
• Authorized Dealers or Distributors- Market Size & Forecast 2020-2030, Thousand Units
• Online- Market Size & Forecast 2020-2030, Thousand Units
• Others- Market Size & Forecast 2020-2030, Thousand Units
• By Price Category
• Budget (Upto USD500 per unit)- Market Size & Forecast 2020-2030, Thousand Units
• Economy (USD501 to 1,500 per unit)- Market Size & Forecast 2020-2030, Thousand Units
• Premium (Above USD1,500 per unit)- Market Size & Forecast 2020-2030, Thousand Units
• By Region
• North
• South
• East
• West

Competitive Landscape

With strategic initiatives, such as mergers, collaborations, and acquisitions, the leading market companies, including - Pirelli, Michelin, Bridgestone, Continental, Goodyear, Zhongce Rubber, Triangle, Yokohama, BF Goodrich, Double Coin, and Others looking forward to strengthening their market positions.

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