| Product Code: ETC12592989 | Publication Date: Apr 2025 | Updated Date: Nov 2025 | Product Type: Market Research Report | |
| Publisher: 6Wresearch | Author: Sachin Kumar Rai | No. of Pages: 65 | No. of Figures: 34 | No. of Tables: 19 |
The luxury SUV import market in Nigeria continues to thrive with top exporters including Japan, USA, UAE, Germany, and the UK in 2024. The high Herfindahl-Hirschman Index (HHI) indicates a concentrated market, while the impressive compound annual growth rate (CAGR) of 22.5% from 2020 to 2024 highlights sustained expansion. However, the negative growth rate of -45.08% from 2023 to 2024 raises concerns and suggests potential challenges faced by the industry in the most recent year. Overall, the market presents both opportunities and risks for stakeholders involved in luxury SUV imports to Nigeria.

1 Executive Summary |
2 Introduction |
2.1 Key Highlights of the Report |
2.2 Report Description |
2.3 Market Scope & Segmentation |
2.4 Research Methodology |
2.5 Assumptions |
3 Nigeria Luxury SUV Market Overview |
3.1 Nigeria Country Macro Economic Indicators |
3.2 Nigeria Luxury SUV Market Revenues & Volume, 2021 & 2031F |
3.3 Nigeria Luxury SUV Market - Industry Life Cycle |
3.4 Nigeria Luxury SUV Market - Porter's Five Forces |
3.5 Nigeria Luxury SUV Market Revenues & Volume Share, By Type, 2021 & 2031F |
3.6 Nigeria Luxury SUV Market Revenues & Volume Share, By Fuel Type, 2021 & 2031F |
3.7 Nigeria Luxury SUV Market Revenues & Volume Share, By End User, 2021 & 2031F |
4 Nigeria Luxury SUV Market Dynamics |
4.1 Impact Analysis |
4.2 Market Drivers |
4.2.1 Growing disposable income and purchasing power of the middle and upper-class population in Nigeria. |
4.2.2 Increasing demand for luxury and high-end vehicles as a status symbol and for comfort. |
4.2.3 Infrastructural developments and improvements in Nigeria, leading to better road conditions and driving experiences for luxury SUV owners. |
4.3 Market Restraints |
4.3.1 High import duties and taxes on luxury vehicles, leading to increased prices and affordability challenges. |
4.3.2 Economic volatility and currency fluctuations impacting the overall purchasing power of consumers in Nigeria. |
4.3.3 Limited availability of luxury SUV models and brands in the Nigerian market, restricting consumer choice and adoption. |
5 Nigeria Luxury SUV Market Trends |
6 Nigeria Luxury SUV Market, By Types |
6.1 Nigeria Luxury SUV Market, By Type |
6.1.1 Overview and Analysis |
6.1.2 Nigeria Luxury SUV Market Revenues & Volume, By Type, 2021 - 2031F |
6.1.3 Nigeria Luxury SUV Market Revenues & Volume, By Compact Luxury SUV, 2021 - 2031F |
6.1.4 Nigeria Luxury SUV Market Revenues & Volume, By Mid-Size Luxury SUV, 2021 - 2031F |
6.1.5 Nigeria Luxury SUV Market Revenues & Volume, By Full-Size Luxury SUV, 2021 - 2031F |
6.1.6 Nigeria Luxury SUV Market Revenues & Volume, By Performance Luxury SUV, 2021 - 2031F |
6.1.7 Nigeria Luxury SUV Market Revenues & Volume, By Off-Road Luxury SUV, 2021 - 2031F |
6.2 Nigeria Luxury SUV Market, By Fuel Type |
6.2.1 Overview and Analysis |
6.2.2 Nigeria Luxury SUV Market Revenues & Volume, By Gasoline, 2021 - 2031F |
6.2.3 Nigeria Luxury SUV Market Revenues & Volume, By Diesel, 2021 - 2031F |
6.2.4 Nigeria Luxury SUV Market Revenues & Volume, By Electric, 2021 - 2031F |
6.2.5 Nigeria Luxury SUV Market Revenues & Volume, By Hybrid, 2021 - 2031F |
6.3 Nigeria Luxury SUV Market, By End User |
6.3.1 Overview and Analysis |
6.3.2 Nigeria Luxury SUV Market Revenues & Volume, By Personal, 2021 - 2031F |
6.3.3 Nigeria Luxury SUV Market Revenues & Volume, By Corporate, 2021 - 2031F |
6.3.4 Nigeria Luxury SUV Market Revenues & Volume, By Government, 2021 - 2031F |
7 Nigeria Luxury SUV Market Import-Export Trade Statistics |
7.1 Nigeria Luxury SUV Market Export to Major Countries |
7.2 Nigeria Luxury SUV Market Imports from Major Countries |
8 Nigeria Luxury SUV Market Key Performance Indicators |
8.1 Average transaction price of luxury SUVs in Nigeria. |
8.2 Number of new luxury SUV models introduced in the Nigerian market. |
8.3 Growth in the number of luxury car dealerships and showrooms in key cities of Nigeria. |
9 Nigeria Luxury SUV Market - Opportunity Assessment |
9.1 Nigeria Luxury SUV Market Opportunity Assessment, By Type, 2021 & 2031F |
9.2 Nigeria Luxury SUV Market Opportunity Assessment, By Fuel Type, 2021 & 2031F |
9.3 Nigeria Luxury SUV Market Opportunity Assessment, By End User, 2021 & 2031F |
10 Nigeria Luxury SUV Market - Competitive Landscape |
10.1 Nigeria Luxury SUV Market Revenue Share, By Companies, 2024 |
10.2 Nigeria Luxury SUV Market Competitive Benchmarking, By Operating and Technical Parameters |
11 Company Profiles |
12 Recommendations |
13 Disclaimer |