Press Release

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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Relevant Reports

Nigeria Two Wheeler Market By Vehicle Type (Motorcycle, Scooters, Moped), By Engine Capacity (Up to 125cc, 126-250cc, 251-500cc, Above 500cc), Competition Forecast & Opportunities, 2013 – 2023

Automotive | Feb, 2018

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

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