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