Nigeria Two-Wheeler Market

Introduction of the Nigeria Two-Wheeler Market Report

Two-wheeler is an automotive that runs on two wheels and includes a motorcycle, scooter, or moped. A motorcycle is a vehicle that comprises a high engine capacity as compared to a moped or scooter and can be used for various purposes that include navigating congested urban traffic, long-distance travel, racing, and off-road conditions, among others.

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Market Dynamic

Key Drivers and Emerging Trends

The factor which is responsible for proliferating the Nigeria two-wheeler market includes the increase in the demand for two-wheelers in the country as a result of their easy maneuverability and increased fuel efficiency. In addition, the presence of insufficient public intra-city transport system and growing demand for the last mile delivery purposes are some other factors that are bolstering the growth of the two-wheeler market in the country.

Moreover, the growing inclination towards the motorcycle ride-hailing services of the population to avoid the congestion and heavy traffic jam is another key factor that is accelerating the demand for two-wheelers in the market in Nigeria. For instance, in 2019, Gokada, a ride-hail start-up in Nigeria, raised USD 5.3 million Series A round to increase the two-wheel transit business. The company has onboarded and trained more than 1,000 riders on its app and has completed around 1 million rides since 2018. The increasing affordability of the two-wheelers and the rising price of passenger cars are the factors that are further driving the market growth.

Restraint in the Nigeria Two-Wheeler Market

The factors which is responsible for restraining the growth of the Nigeria two-wheeler market includes the increase in the concerns related to the safety of the people in the country.

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Vehicle Type – Segment Analysis

Based on the vehicle type, the motorcycle segment is estimated to grow at a higher CAGR during the forecast period. The factors which are accelerating the growth of the market in this segment include the rising penetration of motorcycles in the country owing to the presence of larger fuel capacity and enhanced control in the rugged road conditions. In addition, the growing inclination of people towards the motorcycle-hailing ride owing to its low cost as compared to car-hailing services and also a flexible transport service options to deal with the long traffic jams is also a major factor further driving the growth of the market.

Engine Type – Segment Analysis

On the basis of engine type, the electric segment is projected to increase at a higher CAGR during the forecast period. The key factors that are bolstering the growth of the market in this segment include the rising adoption of electric two-wheelers in the country as a result of increasing concerns for the growing environmental pollution and surging demand for fuel-efficient and low-emission vehicles by the people. Moreover, the increasing focus on the development of proper charging infrastructure in the country is also a major factor that is augmenting the growth of the market over the forecast period.

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Key Developments: 

• • In 2020, The Simba Group, distributor of TVS tricycles and motorcycles in Nigeria, opened a new showroom and service center in Kano. This showroom comprises the latest motorcycles and tricycles from TVS.
  • In 2018, Yamaha Motor Nigeria Ltd launched the Yamaha Crux Rev Motorcycle in the commercial motorcycle market of Nigeria. This bike comprises great fuel-efficiency from its Blue Core engine, diamond frame chassis, LED headlight, and stylish design. 

Segments covered in the Report:

The Nigeria two-wheeler market has been segmented on the basis of vehicle type, engine type, and engine capacity. Based on vehicle type, the market is segmented into motorcycle and scooter/moped. Based on the engine type, the market is segmented into ICE and electric. Based on the engine capacity, the market is segmented into up to 125cc, 126-250cc, 250-500cc, and above 500cc. 

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Key questions answered in this research report:

• • At what pace is the Nigeria two-wheeler market growing? What will be the growth trend in the future?
  • What are the key drivers and restraints in the Nigeria two-wheeler market? What will be the impact of drivers and restraints in the future?
  • Which vehicle type generated maximum revenues in 2019 and identify the most promising vehicle type during the forecast period?
  • What are the various engine capacities of the Nigeria two-wheeler market, and how they are poised to grow?
  • What companies are the major participants in this market and their business strategies, how does the competitive landscape look like?

Report Coverage	Details
Market Base Year	2019
Market Forecast Period	2020-2027
Market Revenues Currency	USD Million
Base Year & Forecast Units	Revenues (USD Million)
Market Segment	By Vehicle Type, By Engine Type, and By Engine Capacity
Regional Coverage	Nigeria
Companies Profiled	Profiles of Top 10 Major Companies Operating in “Nigeria Two-Wheeler Market”
25% Free Customization Available	We will customize this report up to 25% as a free customization to address our client’s specific requirements

Market Segmentation

Nigeria Two-Wheeler Market by Vehicle Type

• • Motorcycle
  • Scooter/Moped

Nigeria Two-Wheeler Market by Engine Type

• • ICE
  • Electric

Nigeria Two-Wheeler Market by Engine Capacity

• • Up to 125cc
  • 126-250cc
  • 250-500cc
  • Above 500cc