Nigeria Two Wheeler Market Size, Trends and Growth Report 2028

Report Description

Nigeria Two-Wheeler Market is anticipated to grow with the rapid CAGR in the upcoming years. Nigeria Two Wheeler market is growing due to the usage of two wheeler for the daily travel purpose and due to the maneuverability of the two wheeler in the road congestion, Furthermore the rising urbanization in the country is further propelling the rise of the Nigeria Two Wheeler. Furthermore, the high fuel efficiency, low maintenance costs, and rising adoption of two wheelers in last mile deliveries boost the Nigeria two-wheeler market.

Key Developments

The Indian-made Unicorn 160 motorcycle was first introduced to Nigeria in 2023, by Honda Motorcycles. NGN 14,00,000 is the bike cost. The motorcycle is made in India and then imported for sale in Nigeria.

A new showroom and servicing facility were opened in Kano in 2020 by The Simba Group, the Nigerian distributor of TVS tricycles and motorbikes. The newest TVS motorcycles and trikes are displayed at this showroom.

In the Nigerian commercial motorcycle market in 2018, Yamaha Motor Nigeria Ltd. introduced the Yamaha Crux Rev Motorbike. The Blue Core engine, diamond frame chassis, LED headlamp, and elegant style of this bike, combine to provide excellent fuel efficiency.

Increasing Demand in Ride Hailing and Last Mile Delivery Services.

The element driving up the demand for two-wheelers in Nigeria's market is the population's growing propensity for using motorbike ride-hailing services to avoid congestion and congested traffic. Gokada, a ride-hailing start-up in Nigeria, raised USD 5.3 million in a Series A investment in 2019 to expand the two-wheel transportation company. Around a million rides have been conducted by the business since 2018 and over a thousand riders have been trained and onboarded through its app. The reason that is further fueling the market expansion is the growing prices of both passenger vehicles and the two-wheelers. Additionally, the insufficient public transport network present in the country has led to the rising adoption of the ride hailing service which increases the number of two-wheeler in Nigeria. Furthermore, the increasing adoption in the last mile delivery due to the rapid urbanization and increasing disposal income, have led to rise in the logistics industry which have a detrimental impact on the Nigeria two-wheeler market.

Speed and Maneuverability

Two-wheelers are lighter, have a sleeker design, and are easier to maneuver. They are simple to commute in heavy traffic or congested lanes, allowing you to arrive at your destination on time. It is easier to park and takes up less space because of itssize. Because of its pickup, it allows for a faster commute, has a higher thrill quotient and is more adventurous. Thus, the design and maneuverability provided by two-wheelers boost the sales of the two-wheeler in Nigeria which further propels the growth of Nigeria Two-Wheeler Market.

More Cost-Effective and Requires Less Maintenance

The main reason for the growing popularity of two-wheelers is their low cost. The ease of financing attracts most customers with lower income levels, easily realizing the dream of owning a vehicle. Aside from affordability, another factor driving the increase in two-wheeler purchases is cost-effectiveness. With fuel prices rising, the two-wheeler segment will remain affordable for Indian families. Two-wheelers also have lower maintenance costs than passenger cars and provide better mileage.

Safety Concern and Government Ban.

The major factor restraining the growth of the Nigeria two-wheeler market is the safety concern, as two wheelers account for the 2^nd largest accidents crashes on the road in Nigeria. Also, due to the government's ban on the use of motorcycles as a mode of human transportation in Lagos due to an increase in miscellaneous activities, resulting in a high crime rate, the Nigeria two-wheeler market has been hampered.

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Market Segmentation

Nigeria Two-Wheeler Market is segmented by vehicle type, by propulsion type and by region. Based on Vehicle type, the market is segmented into Scooter/Moped and Motorcycle. Based on propulsion type, the market is divided into ICE and Electric.

Company Profiles

Bajaj Auto Ltd, Wandel International (TVS Motor Company Limited), Honda Manufacturing (Nigeria) Ltd, Hero MotoCorp Ltd, Yamaha Motor Nigeria Ltd, Suzuki Motor Corporation, Chongqing Lifan Motorcycle Engine Co., Ltd,Chongqing Zongshen Automobile Industry Co., Ltd., Loncin Motorcycle Industries Limited and Kawasaki Heavy Industries, Ltd. are the key players developing advanced ride hailing service structure to stay competitive in the market and enhancing their product portfolio in the regions to increase their customer outreach.

Attribute	Details
Base Year	2022
Historical Years	2018 – 2021
Estimated Year	2023
Forecast Period	2024 – 2028
Quantitative Units	Revenue in USD Million, Volume in Units, and CAGR for 2018-2022 and 2023-2028
Report Coverage	Revenue forecast, volume forecast, company share, competitive landscape, growth factors, and trends
Segments Covered	Vehicle Type Propulsion type Region
Regional Scope	North- West, North East, North Central, South West, South East, South-South
Key Companies Profiled	Bajaj Auto Ltd, TVS Motor Company Limited, Honda Manufacturing (Nigeria) Ltd, Hero MotoCorp Ltd, Yamaha Motor Nigeria Ltd, Suzuki Motor Corporation, Chongqing Lifan Motorcycle Engine Co., Ltd,Chongqing Zongshen Automobile Industry Co., Ltd., Loncin Motorcycle Industries Limited and Kawasaki Heavy Industries, Ltd.
Customization Scope	10% free report customization with purchase. Addition or alteration to country, regional & segment scope.
Pricing and Purchase Options	Avail customized purchase options to meet your exact research needs. Explore purchase options
Delivery Format	PDF and Excel through Email (We can also provide the editable version of the report in PPT/pdf format on special request)

Report Scope:

In this report, Nigeria Two Wheeler Market has been segmented into following categories, in addition to the industry trends which have also been detailed below:

· Nigeria Two Wheeler Market, By Vehicle Type:

Motorcycle
Scooter/Moped

Nigeria Two Wheeler Market, By Propulsion Type:

ICE
Electric

Nigeria Two Wheeler Market, By Region:

North East
North West
North Central
South West
South East
South South

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in Nigeria Two Wheeler Market.

Available Customizations:

With the given market data, TechSci Research offers customizations according to a company’s specific needs. The following customization options are available for the report:

Company Information

Detailed analysis and profiling of additional market players (up to five).

Nigeria Two Wheeler Market is an upcoming report to be released soon. If you wish an early delivery of this report or want to confirm the date of release, please contact us at [email protected]

Table of content

1. Introduction

1.1. Market Overview

1.2. Key Highlights of the Report

1.3. Market Coverage

1.4. Market Segments Covered

1.5. Research Tenure Considered

2. Research Methodology

2.1. Objective of the Study

2.2. Baseline Methodology

2.3. Key Industry Partners

2.4. Major Association and Secondary Sources

2.5. Forecasting Methodology

2.6. Data Triangulation & Validation

2.7. Assumptions and Limitations

3. Executive Summary

3.1. Market Overview

3.2. Market Forecast

3.3. Key Regions

3.4. Key Segments

4. Impact of COVID-19 on Nigeria Two Wheeler Market

4.1. Key Segments Impacted

4.2. Key Countries Impacted

5. Voice of Customer

5.1. Factors Influencing Purchase Decision

5.2. Brand Awareness

5.3. Brand Satisfaction Level

6. Nigeria Two Wheeler Market Outlook

6.1. Market Size & Forecast

6.1.1. By Volume

6.1.2. By Value

6.2. Market Share & Forecast

6.2.1. By Vehicle Type Market Share Analysis (Scooter/Moped, Motorcycle)

6.2.2. By Propulsion Type Market Share Analysis (ICE and Electric)

6.2.3. By Regional Market Share Analysis

6.2.3.1. North- West Market Share Analysis

6.2.3.2. North East Market Share Analysis

6.2.3.3. North Central Market Share Analysis

6.2.3.4. South West Share Analysis

6.2.3.5. South East Share Analysis

6.2.3.6. South south Share Analysis

6.2.4. By Company Market Share Analysis (By Value, 2022)

6.3. Nigeria Two Wheeler Market Mapping & Opportunity Assessment

6.3.1. By Vehicle Type Market Mapping & Opportunity Assessment

6.3.2. By Propulsion Type Market Mapping & Opportunity Assessment

6.3.3. By Regional Market Mapping & Opportunity Assessment

7. Nigeria ICE Two Wheeler Market Outlook

7.1. Market Size & Forecast

7.1.1. By Volume

7.1.2. By Value

7.2. Market Share & Forecast

7.2.1. By Vehicle Type Market Share Analysis

7.2.2. By Engine Capacity Market Share Analysis (Up to 125cc, 126-250cc, 251-500cc, Above 500cc)

7.2.3. By Regional Market Share Analysis

8. Nigeria ICE Motorcycle Market Outlook

8.1. Market Size & Forecast

8.1.1. By Volume

8.1.2. By Value

8.2. Market Share & Forecast

8.2.1. By Engine Capacity Market Share Analysis (Up to 125 cc, 126-250 cc, 251-500 cc, Above 500 cc)

8.2.2. By Regional Market Share Analysis

8.3. Product Benchmarking

9. Nigeria ICE Scooter/Moped Market Oultook

9.1. Market Size & Forecast

9.1.1. By Volume

9.1.2. By Value

9.2. Market Share & Forecast

9.2.1. By Engine Capacity Market Share Analysis (Up to 125 cc, 126-250 cc, 251-500 cc, Above 500 cc)

9.2.2. By Regional Market Share Analysis

9.3. Product Benchmarking

10. Nigeria Electric Two Wheeler Market Outlook

10.1. Market Size & Forecast

10.1.1. By Volume

10.1.2. By Value

10.2. Market Share & Forecast

10.2.1. By Vehicle Type Market Share Analysis (Motorcycle, Scooter/Moped)

10.2.2. By Battery Capacity Market Share Analysis (>2.5Kwh, <2.5Kwh)

10.2.3. By Battery Type Market Share Analysis (Lead-Acid, Lithium Ion)

10.3. Product Benchmarking

11. Import & Export Analysis

12. Market Dynamics

12.1. Market Drivers

12.2. Market Challenges

13. Market Trends and Developments

14. PESTEL Analysis

14.1. Political

14.2. Economical

14.3. Social

14.4. Technological

14.5. Environmental

14.6. Legal

15. SWOT Analysis

15.1. Strength

15.2. Weakness

15.3. Opportunities

15.4. Threats

16. Policy & Regulatory Landscape

17. Nigeria Economic Profile

18. Competitive Landscape

18.1. Company Profiles

18.1.1. Bajaj Auto Ltd

18.1.1.1. Company Details

18.1.1.2. Products & Services

18.1.1.3. Financial (As Reported)

18.1.1.4. Recent Development

18.1.1.5. Key Management Personnel

18.1.2. TVS Motor Company Limited

18.1.2.1. Company Details

18.1.2.2. Products & Services

18.1.2.3. Financial (As Reported)

18.1.2.4. Recent Development

18.1.2.5. Key Management Personnel

18.1.3. Honda Manufacturing (Nigeria) Ltd

18.1.3.1. Company Details

18.1.3.2. Products & Services

18.1.3.3. Financial (As Reported)

18.1.3.4. Recent Development

18.1.3.5. Key Management Personnel

18.1.4. Hero MotoCorp Ltd

18.1.4.1. Company Details

18.1.4.2. Products & Services

18.1.4.3. Financial (As Reported)

18.1.4.4. Recent Development

18.1.4.5. Key Management Personnel

18.1.5. Yamaha Motor Nigeria Ltd

18.1.5.1. Company Details

18.1.5.2. Products & Services

18.1.5.3. Financial (As Reported)

18.1.5.4. Recent Development

18.1.5.5. Key Management Personnel

18.1.6. Suzuki Motor Corporation

18.1.6.1. Company Details

18.1.6.2. Products & Services

18.1.6.3. Financial (As Reported)

18.1.6.4. Recent Development

18.1.6.5. Key Management Personnel

18.1.7. Chongqing Lifan Motorcycle Engine Co.Ltd

18.1.7.1. Company Details

18.1.7.2. Products & Services

18.1.7.3. Financial (As Reported)

18.1.7.4. Recent Development

18.1.7.5. Key Management Personnel

18.1.8. Chongqing Zongshen Automobile Industry Co., Ltd.

18.1.8.1. Company Details

18.1.8.2. Products & Services

18.1.8.3. Financial (As Reported)

18.1.8.4. Recent Development

18.1.8.5. Key Management Personnel

18.1.9. Loncin Motorcycle Industries Limited

18.1.9.1. Company Details

18.1.9.2. Products & Services

18.1.9.3. Financial (As Reported)

18.1.9.4. Recent Development

18.1.9.5. Key Management Personnel

18.1.10. Kawasaki Heavy Industries, Ltd

18.1.10.1. Company Details

18.1.10.2. Products & Services

18.1.10.3. Financial (As Reported)

18.1.10.4. Recent Development

18.1.10.5. Key Management Personnel

19. Strategic Recommendations

19.1. Key Focus Areas

19.2. Target Regions

19.3. Target Vehicle Type

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Figures and Tables

Frequently asked questions

What is the major factor for the growth of Nigeria Two-Wheeler Market?

Increasing demand in the ride hailing service, cost effectiveness, easy manoeuvrability and high price of the passenger cars are driving the demand of the Nigeria Two-Wheeler market.

What is the difference between ICE & Electric Two-Wheeler in Nigeria Two-Wheeler services?

ICE Two-Wheelers are categorised as heat engines because the air-fuel mixture is burned inside the engine, in a combustion chamber, and some of the burned gases are used in the subsequent combustion cycle. With an internal combustion engine, thermal energy from burning fuel and air is converted into mechanical energy. Electric two-wheelers are powered and run entirely by electricity. It typically has a rechargeable battery to store electric energy. An electric motor provides power to an electric two-wheeler. The DC battery powers the electric motor, which is housed inside the wheel hub. It is known as a 'Hub-Motor.' When you start the engine, the battery sends electricity to the hub-motor via a controller and an electric throttle.

Who are the top players in the Nigeria Two Wheeler market?

The major player contributing Nigeria Two Wheeler market are Bajaj Auto Ltd, TVS Motor Company Limited, Honda Manufacturing (Nigeria) Ltd, Hero MotoCorp Ltd, Yamaha Motor Nigeria Ltd, Suzuki Motor Corporation, Chongqing Lifan Motorcycle Engine Co., Ltd, Chongqing Zongshen Automobile Industry Co., Ltd., Loncin Motorcycle Industries Limited and Kawasaki Heavy Industries, Ltd.

What are the hindering factors in the Nigeria Two Wheeler market?

Lack of safety concerns and government ban on two-wheelers due to crime rate are factors affecting the growth of Nigeria Two Wheeler market.

Nigeria Two-Wheeler Market By Vehicle Type (Scooter/Moped, Motorcycle) By Propulsion Type Market Share Analysis (ICE and Electric) By Region Competition Forecast & Opportunities, 2018- 2028F

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