Skip to main content
  1. Market Insights
  2. Mobility
  3. Motorcycles

Scooters - Nigeria

Nigeria
  • In 2024, the Scooters market in Nigeria is projected to generate a revenue of US$257.90m.
  • This revenue is expected to grow at an annual rate of 4.19% (CAGR 2024-2029), resulting in a projected market volume of US$316.70m by 2029.
  • Furthermore, it is estimated that the unit sales of Scooters market in Nigeria will reach 239.80k motorcyles by 2029.
  • In terms of pricing, the volume weighted average price of Scooters market in Nigeria is projected to be US$1.19k in 2024.
  • Taking an international perspective, it is worth noting that India is expected to generate the highest revenue in the Scooters market, amounting to US$10.62bn in 2024.
  • This highlights the significant market potential for Scooters market in Nigeria, given its growing revenue and market volume projections.
  • Nigeria's scooter market is experiencing a surge in demand due to the country's congested roads and increasing urbanization.

Owing to their relative affordability, scooters are a motorcycle type which remains popular amongst biking enthusiasts who value a light, easy-to-ride motorcycle. Scooters vary by aesthetic characteristics, mode of operation, and engine capacity. Nowadays, scooters can be typically found in the engine capacity range of 50cc to as high as 650cc or more. Unlike many other motorcycle types, scooters have a robust bodywork which serves the chief purposes of concealing all the mechanical parts and providing a cleaner look as well as quieter operation. In addition, they have significantly more built-in storage space than most conventional motorcycles. Ease of use and ample storage space aside, the introduction of electric scooters is an innovation that is driving the adoption of scooters.

In-Scope

  • Scooters > 50cc
  • Mopeds > 50cc

Out-Of-Scope

  • Mopeds < 50cc
  • Buses, Vans and Trucks
  • On-road motorcycles such as sports bikes
  • Off-road motorcycles or dirt bikes
  • Dual-purpose motorcycles such as supermotos or adventure-tourers
Scooters: market data & analysis - Cover

Market Insights report

Scooters: market data & analysis

Study Details

    Unit Sales

    Most recent update: Oct 2024

    Source: Statista Market Insights

    Analyst Opinion

    The Scooters market in Nigeria has been experiencing significant growth in recent years, driven by various factors such as changing customer preferences, emerging trends in the market, local special circumstances, and underlying macroeconomic factors. Customer preferences in Nigeria have been shifting towards more efficient and cost-effective modes of transportation, leading to an increased demand for scooters. Scooters are seen as a convenient and affordable option for commuting short distances in congested urban areas. Additionally, the rising awareness about environmental issues and the need for sustainable transportation solutions have further fueled the demand for scooters in the country. Trends in the market indicate a growing preference for electric scooters in Nigeria. Electric scooters offer several advantages over traditional gasoline-powered scooters, including lower operating costs, reduced emissions, and quieter operation. The government of Nigeria has also been promoting the use of electric vehicles, including scooters, through various incentives and policies, which has further boosted the demand for electric scooters in the market. Local special circumstances in Nigeria have played a significant role in the development of the scooters market. The country's rapid urbanization and population growth have led to increased traffic congestion in major cities, making scooters a practical and efficient mode of transportation. Furthermore, the relatively high cost of fuel and the limited availability of public transportation options have made scooters an attractive alternative for many Nigerians. Underlying macroeconomic factors have also contributed to the growth of the scooters market in Nigeria. The country's improving economy and rising disposable incomes have increased the purchasing power of consumers, enabling them to afford scooters. Additionally, the government's efforts to improve infrastructure and road networks have made it easier for scooters to navigate through the cities, further driving the demand for these vehicles. In conclusion, the Scooters market in Nigeria is experiencing significant growth due to changing customer preferences, emerging trends in the market, local special circumstances, and underlying macroeconomic factors. The shift towards more efficient and cost-effective transportation options, such as scooters, along with the increasing demand for electric vehicles, has fueled the growth of the market. With the government's support and the improving economic conditions in the country, the scooters market in Nigeria is expected to continue its upward trajectory in the coming years.

    Revenue

    Notes: Data was converted from local currencies using average exchange rates of the respective year.

    Most recent update: Oct 2024

    Source: Statista Market Insights

    Price

    Most recent update: Oct 2024

    Source: Statista Market Insights

    Global Comparison

    Most recent update: Oct 2024

    Source: Statista Market Insights

    Methodology

    Data coverage:

    Data encompasses B2C enterprises. Figures are based on motorcycle sales and revenue excluding scooters/mopeds under 50cc category.

    Modeling approach / Market size:

    Market sizes are determined by a Bottom-Up approach, based on a specific rationale for each market segment. As a basis for evaluating markets, we use manufacturer websites, national statistics offices, motorcycle associations, motorcycles sales websites. Next we use relevant key market indicators and data from country-specific associations such as GDP per capita, consumer price index, consumer spending, and population. This data helps us to estimate the market size for each country individually.

    Forecasts:

    In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the particular market. For example, the forecasting is done on a make level for Motorcycles, using a mix of standard approaches, e.g., exponential smoothing, and uses parameters which best fit the historical data. The main drivers are GDP per capita, consumer price index, consumer spending, and population.

    Additional Notes:

    The market is updated once a year.

    Mobility

    Access more Market Insights on Mobility topics with our featured report

    Scooters: market data & analysis - BackgroundScooters: market data & analysis - Cover

    Key Market Indicators

    Notes: Based on data from IMF, World Bank, UN and Eurostat

    Most recent update: Sep 2024

    Source: Statista Market Insights

    Contact

    Get in touch with us. We are happy to help.