New Cars in Nigeria - Market Summary, Competitive Analysis and Forecast to 2026
Summary
New Cars in Nigeria industry profile provides top-line qualitative and quantitative summary information including: market size (value 2017-21, and forecast to 2026). The profile also contains descriptions of the leading players including key financial metrics and analysis of competitive pressures within the market.
Key Highlights
- The new cars market consists of the initial retail sale/registration of new passenger cars. Passenger cars include saloons, hatchbacks, SUVs, 4x4s, and light pickups used predominantly in North America, and other related vehicles. The market value is calculated at retail selling price (RSP) and the market volume is given in terms of units sold. Market share data for the New Cars industry applies to motor manufacturing groups as opposed to their individual brands, i.e. for the Volkswagen Group this includes all of its brands such as Volkswagen, Audi, Skoda, Seat etc. therefore where possible, market share data represents sales figures for every brand in that manufacturing group within each country.
- The Nigerian new cars market is expected to generate total revenues of $0.3bn in 2021, representing a compound annual growth rate (CAGR) of 41.7% between 2017 and 2021.
- Market consumption volume is forecast to increase with a CAGR of 25.1% between 2017 and 2021, to reach a total of 11.5 thousand units in 2021.
- Save time carrying out entry-level research by identifying the size, growth, major segments, and leading players in the new cars market in Nigeria
- Use the Five Forces analysis to determine the competitive intensity and therefore attractiveness of the new cars market in Nigeria
- Leading company profiles reveal details of key new cars market players’ global operations and financial performance
- Add weight to presentations and pitches by understanding the future growth prospects of the Nigeria new cars market with five year forecasts
- What was the size of the Nigeria new cars market by value in 2021?
- What will be the size of the Nigeria new cars market in 2026?
- What factors are affecting the strength of competition in the Nigeria new cars market?
- How has the market performed over the last five years?
- What are the main segments that make up Nigeria's new cars market?
Companies Mentioned
Toyota Motor Corporation
Hyundai Motor Company
Ford Motor Company Limited
Macroeconomic Indicators
- 1 Executive Summary
- 1.1. Market value
- 1.2. Market value forecast
- 1.3. Market volume
- 1.4. Market volume forecast
- 1.5. Geography segmentation
- 1.6. Market share
- 1.7. Market rivalry
- 1.8. Competitive Landscape
- 2 Market Overview
- 2.1. Market definition
- 2.2. Market analysis
- 3 Market Data
- 3.1. Market value
- 3.2. Market volume
- 4 Market Segmentation
- 4.1. Geography segmentation
- 5 Market Outlook
- 5.1. Market value forecast
- 5.2. Market volume forecast
- 6 Five Forces Analysis
- 6.1. Summary
- 6.2. Buyer power
- 6.3. Supplier power
- 6.4. New entrants
- 6.5. Threat of substitutes
- 6.6. Degree of rivalry
- 7 Competitive Landscape
- 7.1. Market share
- 7.2. Who are the leading players?
- 7.3. How are strategic alliances used by the leading companies?
- 7.4. How is new technology opening up competition?
- 7.5. How are leading players progressing in the hybrid and electric cars segment?
- 7.6. What impact is the COVID-19 pandemic having on leading players?
- 8 Company Profiles
- 8.1. Toyota Motor Corporation
- 8.2. Hyundai Motor Company
- 8.3. Ford Motor Company Limited
- 9 Macroeconomic Indicators
- 9.1. Country data
- 10 Appendix
- 10.1. Methodology
- 10.2. Industry associations
- 10.3. Related MarketLine research
- 10.4. About MarketLine
- List of Tables
- Table 1: Nigeria new cars market value: $ billion, 2017-21(e)
- Table 2: Nigeria new cars market volume: thousand units, 2017-21(e)
- Table 3: Nigeria new cars market geography segmentation: $ billion, 2021(e)
- Table 4: Nigeria new cars market value forecast: $ billion, 2021-26
- Table 5: Nigeria new cars market volume forecast: thousand units, 2021-26
- Table 6: Nigeria new cars market share: % share, by volume, 2021(e)
- Table 7: Toyota Motor Corporation: key facts
- Table 8: Toyota Motor Corporation: Annual Financial Ratios
- Table 9: Toyota Motor Corporation: Key Employees
- Table 10: Toyota Motor Corporation: Key Employees Continued
- Table 11: Hyundai Motor Company: key facts
- Table 12: Hyundai Motor Company: Annual Financial Ratios
- Table 13: Hyundai Motor Company: Key Employees
- Table 14: Ford Motor Company Limited: key facts
- Table 15: Ford Motor Company Limited: Key Employees
- Table 16: Nigeria size of population (million), 2017-21
- Table 17: Nigeria gdp (constant 2005 prices, $ billion), 2017-21
- Table 18: Nigeria gdp (current prices, $ billion), 2017-21
- Table 19: Nigeria inflation, 2017-21
- Table 20: Nigeria consumer price index (absolute), 2017-21
- Table 21: Nigeria exchange rate, 2016-20
- List of Figures
- Figure 1: Nigeria new cars market value: $ billion, 2017-21(e)
- Figure 2: Nigeria new cars market volume: thousand units, 2017-21(e)
- Figure 3: Nigeria new cars market geography segmentation: % share, by value, 2021(e)
- Figure 4: Nigeria new cars market value forecast: $ billion, 2021-26
- Figure 5: Nigeria new cars market volume forecast: thousand units, 2021-26
- Figure 6: Forces driving competition in the new cars market in Nigeria, 2021
- Figure 7: Drivers of buyer power in the new cars market in Nigeria, 2021
- Figure 8: Drivers of supplier power in the new cars market in Nigeria, 2021
- Figure 9: Factors influencing the likelihood of new entrants in the new cars market in Nigeria, 2021
- Figure 10: Factors influencing the threat of substitutes in the new cars market in Nigeria, 2021
- Figure 11: Drivers of degree of rivalry in the new cars market in Nigeria, 2021
- Figure 12: Nigeria new cars market share: % share, by volume, 2021(e)
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