Nigeria: Motorcycle And Scooter Market 2022

Motorcycle And Scooter Market Size in Nigeria

In 2020, after two years of growth, there was significant decline in the Nigerien motorcycle and scooter market, when its value decreased by -X% to $X. Over the period under review, consumption showed a pronounced descent. The growth pace was the most rapid in 2018 with an increase of X% against the previous year. Over the period under review, the market reached the maximum level at $X in 2007; however, from 2008 to 2020, consumption stood at a somewhat lower figure.

Motorcycle And Scooter Exports

Exports from Nigeria

In 2020, exports of motorcycles and scooters from Nigeria declined slightly to X units, approximately mirroring 2019 figures. In general, exports, however, continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2009 with an increase of X% against the previous year. Over the period under review, exports attained the maximum at X units in 2011; however, from 2012 to 2020, exports failed to regain the momentum.

In value terms, motorcycle and scooter exports expanded markedly to $X in 2020. Overall, exports, however, posted buoyant growth. The most prominent rate of growth was recorded in 2009 with an increase of X% y-o-y. As a result, exports attained the peak of $X. from 2010 to 2020, the growth exports remained at a somewhat lower figure.

Exports by Country

Benin (X units) was the main destination for motorcycle and scooter exports from Nigeria, accounting for a X% share of total exports. Moreover, motorcycle and scooter exports to Benin exceeded the volume sent to the second major destination, Niger (X units), sevenfold.

From 2007 to 2020, the average annual rate of growth in terms of volume to Benin stood at +X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Niger (-X% per year) and Zambia (X% per year).

In value terms, Benin ($X) remains the key foreign market for motorcycle and scooter exports from Nigeria, comprising X% of total exports. The second position in the ranking was occupied by Niger ($X), with a X% share of total exports.

From 2007 to 2020, the average annual growth rate of value to Benin amounted to +X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Niger (-X% per year) and Zambia (X% per year).

Export Prices by Country

In 2020, the average motorcycle and scooter export price amounted to $X per unit, rising by X% against the previous year. Over the period under review, export price indicated a tangible expansion from 2007 to 2020: its price increased at an average annual rate of +X% over the last thirteen-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2020 figures, motorcycle and scooter export price increased by +X% against 2012 indices. The growth pace was the most rapid in 2013 when the average export price increased by X% y-o-y. The export price peaked in 2020 and is likely to continue growth in the near future.

There were significant differences in the average prices for the major overseas markets. In 2020, the country with the highest price was Niger ($X per unit), while the average price for exports to Zambia ($X per unit) was amongst the lowest.

From 2007 to 2020, the most notable rate of growth in terms of prices was recorded for supplies to Niger, while the prices for the other major destinations experienced more modest paces of growth.

Motorcycle And Scooter Imports

Imports into Nigeria

After two years of growth, supplies from abroad of motorcycles and scooters decreased by -X% to X units in 2020. In general, imports continue to indicate a deep downturn. The most prominent rate of growth was recorded in 2019 when imports increased by X% year-to-year. Imports peaked at X units in 2007; however, from 2008 to 2020, imports stood at a somewhat lower figure.

In value terms, motorcycle and scooter imports dropped to $X in 2020. Overall, imports showed a noticeable descent. The pace of growth appeared the most rapid in 2018 when imports increased by X% y-o-y. Imports peaked at $X in 2007; however, from 2008 to 2020, imports failed to regain the momentum.

Imports by Country

In 2020, India (X units) constituted the largest supplier of motorcycle and scooter to Nigeria, accounting for a X% share of total imports. Moreover, motorcycle and scooter imports from India exceeded the figures recorded by the second-largest supplier, China (X units), threefold.

From 2007 to 2020, the average annual growth rate of volume from India stood at +X%.

In value terms, India ($X) constituted the largest supplier of motorcycle and scooter to Nigeria, comprising X% of total imports. The second position in the ranking was occupied by China ($X), with a X% share of total imports.

From 2007 to 2020, the average annual rate of growth in terms of value from India totaled +X%.

Import Prices by Country

The average motorcycle and scooter import price stood at $X per unit in 2020, approximately equating the previous year. In general, import price indicated a moderate increase from 2007 to 2020: its price increased at an average annual rate of +X% over the last thirteen years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2020 figures, motorcycle and scooter import price decreased by -X% against 2018 indices. The pace of growth appeared the most rapid in 2013 an increase of X% year-to-year. Over the period under review, average import prices attained the maximum at $X per unit in 2018; however, from 2019 to 2020, import prices stood at a somewhat lower figure.

Average prices varied noticeably amongst the major supplying countries. In 2020, the country with the highest price was China ($X per unit), while the price for India totaled $X per unit.

From 2007 to 2020, the most notable rate of growth in terms of prices was attained by China.

Source: IndexBox Platform