Nigeria Two-Wheeler Market to Grow with a CAGR of 7.6% through 2030
The emergence of ride-hailing
services using motorcycles and mopeds, supported by digital platforms and
smartphones, are the factors driving the market in the forecast period
2026–2030.
According to TechSci Research
report, “Nigeria Two-Wheeler Market – By Region, Competition, Forecast
& Opportunities, 2020-2030F”, The Nigeria Two-Wheeler Market was valued at USD 1.06 Billion in 2024 and is expected to reach USD 1.65 Billion by 2030 with a CAGR of 7.60% during the forecast period. Demand for
low-cost transportation in Nigeria is accelerating the two-wheeler market,
especially in cities where traffic congestion and rising fuel costs are common.
Consumers looking for affordable and efficient travel options are increasingly
turning to motorcycles and mopeds. These vehicles are also favored by younger
individuals due to their ease of use, low upkeep, and adaptability for various
needs, including personal commuting and delivery services.
Technological improvements are
transforming the market environment. The rise of mobile apps for vehicle
financing, rentals, and servicing is making access to two-wheelers more
convenient. There is growing curiosity around electric variants, with domestic
players beginning to introduce models that reduce fuel reliance. Smart features
like GPS tracking and digital ride-hailing integration are also becoming more
common as user expectations shift toward connected and secure mobility options.
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Nigeria
Two-Wheeler Market Is Segmented by Vehicle Type, Propulsion, End Use, and By
Region.
The Nigeria two-wheeler
market includes motorcycles and scooters/mopeds, serving different segments of
the population. Motorcycles are widely used in both rural and urban areas for
daily commuting, goods transport, and commercial services such as bike taxis.
Their ability to navigate congested roads and uneven terrain makes them
suitable for varied travel conditions, while their cost-efficiency appeals to a
broad demographic. Scooters and mopeds, on the
other hand, are generally preferred for short-distance travel and are
particularly attractive to students, female riders, and small business
operators. These vehicles are known for their user-friendly design, automatic
transmission, and lower engine capacities, making them suitable for novice
riders and those seeking easy maneuverability. As awareness around
environmental impact and fuel savings grows, more consumers are exploring
electric and hybrid versions in this category.
In 2024, the South-West region
of Nigeria, particularly Lagos and surrounding states, has emerged as the
fastest growing market for two-wheelers. This growth is driven by high
population density, escalating urban traffic, and the increased need for personal
and commercial mobility solutions. The surge in ride-hailing and delivery
services is further fueling demand for motorcycles and mopeds in this region. Digital adoption is also
higher in the South-West, making it a key zone for tech-enabled mobility
services. The presence of multiple logistic hubs and economic activity in Lagos
creates a strong need for agile and cost-effective transport solutions. These
conditions are creating favorable momentum for two-wheeler adoption across both
personal and business applications in this region.
Major Market Players Operating
in Nigeria Two-Wheeler Market Are:
- Bajaj Auto Ltd.
- Haojue Holdings
- Hero MotoCorp Ltd.
- Honda Motor Co., Ltd.
- Lifan Group
- Qingqi Group Co., Ltd.
- Suzuki Motor Corporation
- TVS Motor Company
- Yamaha Motor Co., Ltd.
- Zongshen Industrial Group
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“The Nigeria two-wheeler
market is experiencing steady growth, driven by rising demand for affordable
and efficient mobility, especially in urban areas with heavy traffic and
limited public transport. Motorcycles and scooters/mopeds are widely used for personal
commuting, commercial deliveries, and ride-hailing services. Increasing fuel
prices, growing digital adoption, and the expansion of last-mile connectivity
are supporting market expansion. Despite challenges like poor road
infrastructure and reliance on imported components, the market shows strong
potential. Technological advancements, mobile-based services, and growing
interest in electric models are further shaping the sector’s evolution and
creating new opportunities for growth”, said Mr. Karan Chechi, Research
Director of TechSci Research, a research-based global management consulting
firm.
Nigeria Two-Wheeler Market,
Segmented By Vehicle Type (Motorcycle, Scooter/Moped), By Propulsion (ICE, EV),
By End Use (Personal, Commercial), By Region, Competition, Forecast &
Opportunities, 2020-2030F”, assesses the market's future growth potential and
provides data on market size, trends, and forecasts. It aims to offer
comprehensive market insights, helping decision-makers make informed investment
choices. The report also highlights emerging trends, key drivers, challenges,
and opportunities in the Nigeria Two-Wheeler Market.
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