Market Forecast By Product Types (Rigid Frame, Articulating Frame), By End-User Applications (Mining, Construction & Others) and competitive landscape
Product Code: ETC002220 | Publication Date: Apr 2020 | Product Type: Report | |
Publisher: 6Wresearch | No. of Pages: 70 | No. of Figures: 35 | No. of Tables: 5 |
Nigeria off-highway truck market is expected to witness tremendous growth due to the rising demand for efficient and eco-friendly machinery, increasing activities in the construction and mining industry along with rising government expenditure on infrastructure development would positively influence the off-highway truck market growth in the country. However, the initial cost of the machinery and maintenance expenditure would hamper the off-highway truck market.
According to 6Wresearch, the Nigeria Off-Highway Truck Market size is anticipated to register substantial growth during the forecast period 2020-2026. Nigeria’s economy is likely to witness a slowdown during 2020 due to the spread of global pandemic coronavirus and would restrain the off-highway truck market growth. However, the Nigerian economy is expected to recover in the year 2021 which would promote the growth of the off-highway truck market. This growth would be mainly attributed to the increasing exploration activities in the mining sector involving the exploration of tin, gold, coal, iron ore, lead, and barite along with increasing government investment in the mining sector promoting the growth of the off-highway trucks market in the country.
Based on end-user applications, the construction sector accounts for another reason accelerating the off-highway truck market growth due to the rising government focuses on enhancing the overall infrastructure development coupled with upcoming government initiatives aims at strengthening the transportation network in Nigeria. The fulfillment of these initiatives would require the use of heavy-duty equipment thereby positively influencing the off-highway truck market growth.
Nigeria Off-highway truck market report thoroughly covers the market by product types and end-user applications. Nigeria Off-highway truck market outlook report provides an unbiased and detailed analysis of the on-going Nigeria Off-highway truck market trends, opportunities/high growth areas, and market drivers which would help the stakeholders to devise and align their market strategies according to the current and future market dynamics.
Nigeria off-highway truck market is projected to register sound revenues in the coming years on the back of rising government investment in construction and in the residential sector due to the rapid increased of suburban population coupled with the rising standard of living stimulates population to invest in household construction to instigate the deployment of off-highway trucks is estimated to leave a positive impact over the market growth in the coming years. Additionally, on the basis of end-users, the Mining sector is estimated to dominate the overall market share owing to a rise in the effort of extraction of resources domestically which is anticipated to propel the significant demand for an off-highway truck to ensure smooth and efficient extraction process and is estimated to spur the potential growth of Nigeria off-highway truck market int eh coming years.
Nigeria off-highway truck market is projected to gain momentum in the coming timeframe on the back of the rising infrastructural development like facilitating paved roads and increased telecommunication tower installation to ensure better internet connectivity which is expected to require construction equipment like off-highway truck equipment to operate the overall construction activity in the country. On the other side, one of the major infrastructural projects is ongoing which is the Mambilla hydroelectric power project in order to increase the power generation process and to fulfill the increased population demand for electricity as a basic necessity is expected to proliferate the off-highway truck deployment. Moreover, these megaprojects like the development of power generation stations in the country will continue to shape the bright future of the country and will stimulate the government to purchase expensive construction equipment for the construction activity, as a result, is estimated to strengthen Nigeria off-highway truck market in the coming timeframe.
Key Highlights of the Report:
Markets Covered
Nigeria Off-highway truck Market report provides a detailed analysis of the following market segments:
Other Key Related Reports Include:
1. Executive Summary |
2. Introduction |
2.1. Report Description |
2.2. Key Highlights of The Report |
2.3. Market Scope & Segmentation |
2.4. Research Methodology |
2.5. Assumptions |
3. Nigeria Off-Highway Truck Market Overview |
3.1. Nigeria Country Indicators |
3.2. Nigeria Off-Highway Truck Market Revenues, 2016-2026F |
3.3. Nigeria Off-Highway Truck Market Revenue Share, By Product Types, 2019 & 2026F |
3.4. Nigeria Off-Highway Truck Market Revenue Share, By End-User Applications, 2019 & 2026F |
3.5. Nigeria Off-Highway Truck Market - Industry Life Cycle |
3.6. Nigeria Off-Highway Truck Market - Porter’s Five Forces |
4. Nigeria Off-Highway Truck Market Dynamics |
4.1. Impact Analysis |
4.2. Market Drivers |
4.3. Market Restraints |
5. Nigeria Off-Highway Truck Market Trends |
6. Nigeria Off-Highway Truck Market Overview, By Product Types |
6.1. Nigeria Rigid Frame Off-Highway Truck Market Revenues, 2016-2026F |
6.2. Nigeria Articulating Frame Off-Highway Truck Market Revenues, 2016-2026F |
7. Nigeria Off-Highway Truck Market Overview, By End-User Applications |
7.1. Nigeria Off-Highway Truck Market Revenues, By Mining End-User Applications, 2016-2026F |
7.2. Nigeria Off-Highway Truck Market Revenues, By Construction End-User Applications, 2016-2026F |
7.3. Nigeria Off-Highway Truck Market Revenues, By Other End-User Applications, 2016-2026F |
8. Nigeria Off-Highway Truck Market - Key Performance Indicators |
9. Nigeria Off-Highway Truck Market - Opportunity Assessment |
9.1. Nigeria Off-Highway Truck Market Opportunity Assessment, By Product Types, 2026F |
9.2. Nigeria Off-Highway Truck Market Opportunity Assessment, By End-User Applications, 2026F |
10. Nigeria Off-Highway Truck Market Competitive Landscape |
10.1. Nigeria Off-Highway Truck Market Revenue Share, By Companies, 2019 |
10.2. Nigeria Off-Highway Truck Market Competitive Benchmarking, By Operating & Technical Parameters |
11. Company Profiles |
12. Key Recommendations |
13. Disclaimer |