Bajaj Auto Continues to be the Most Preferred Two-wheeler Brand in Nigeria
Owing to rising demand for
two-wheeler taxis, increasing prices of passenger cars coupled with high fuel
efficiency of two-wheelers, Nigeria two-wheeler market is anticipated to grow
at a brisk pace through 2023
According to TechSci Research report, “Nigeria
Two-Wheeler Market By Vehicle Type, By Engine Capacity, Competition
Forecast & Opportunities, 2013 – 2023”, Nigeria two-wheelers market is projected to
cross $ 153 million by 2023, backed by their rising adoption among the
country’s middle class consumers, easy manoeuvrability, and higher fuel
efficiency as compared to other vehicle types. Moreover, poor public transport infrastructure
coupled with the rising demand for last mile connectivity is further
anticipated to positively influence Nigeria two-wheeler market in the coming
years. In addition, new product launches by two-wheeler manufactures is further
expected to steer growth in the market during the forecast period. Though the
demand for two-wheelers in the country witnessed a negative CAGR during
2013-2017, majorly due to the impact of declining crude oil prices on the
country’s economy and political instability over the last few years. However,
the government is taking various initiatives to revive the country’s economy,
and consequently, the two-wheeler market in Nigeria is also anticipated to witness
recovery in growth during the forecast period.
Browse 6 market data Tables and 30 Figures spread through 76 Pages and an in-depth TOC on "Nigeria Two-Wheeler Market"
https://www.techsciresearch.com/report/nigeria-two-wheeler-market/2096.html
In 2017, Nigeria two-wheeler
market was dominated by the motorcycle segment, which was followed by scooters.
The dominance of motorcycles is on account of growing demand for two-wheeler
taxis and their large seating space, better mileage and broad product range. On
the basis of engine capacity, up to 125cc is the most popular two-wheeler
category due to its fuel efficiency as well as cost effectiveness. Among
regions, the southern region dominated Nigeria two-wheeler market in 2017, and
the region is expected to continue its dominance during the forecast period as
well.
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Bajaj Auto Ltd. is the leader in Nigeria two-wheeler
market, followed by Chinese brands like Lifan and Loncin, TVS, Honda, etc. “New
product launches by two-wheeler manufacturers is expected to positively impact
the two-wheeler market in Nigeria over the next five years. Moreover, rising average
selling price of two-wheelers, poor road conditions in Nigeria, especially
rural areas, would further contribute to the demand for two-wheelers in the country
through 2023.” said Mr. Karan Chechi, Research Director with TechSci Research,
a research-based management consulting firm.
“Nigeria Two-Wheeler
Market By Vehicle Type, By Engine Capacity, Competition Forecast &
Opportunities, 2013 – 2023” has analyzed the potential of two-wheeler market in Nigeria,
and provides statistics and information on market sizes, shares and trends. The
report will suffice in providing the intending clients with cutting-edge market
intelligence and help them in taking sound investment decisions. Besides, the
report also identifies and analyzes emerging trends along with essential
drivers and key challenges faced by the two-wheeler market in Nigeria.
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