Nigeria - Bicycles And Other Cycles (Not Motorized) - Market Analysis, Forecast, Size, Trends and Insights
Get instant access to more than 2 million reports, dashboards, and datasets on the IndexBox Platform.
View PricingBicycle Price in Nigeria - 2022
Contents:
- Bicycle Price in Nigeria (CIF) - 2022
- Bicycle Price in Nigeria (FOB) - 2022
- Bicycle Imports in Nigeria
- Bicycle Exports in Nigeria
Bicycle Price in Nigeria (CIF) - 2022
In June 2022, the average bicycle import price amounted to $9.8 per unit, reducing by -10% against the previous month. Overall, the import price, however, continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in October 2021 an increase of 24% m-o-m. Over the period under review, average import prices reached the peak figure at $10.9 per unit in May 2022, and then declined in the following month.
There were significant differences in the average prices amongst the major supplying countries. In June 2022, the country with the highest price was China ($26.3 per unit), while the price for the United Arab Emirates ($3.9 per unit) was amongst the lowest.
From June 2021 to June 2022, the most notable rate of growth in terms of prices was attained by the United States (+2.9%), while the prices for the other major suppliers experienced more modest paces of growth.
Bicycle Price in Nigeria (FOB) - 2022
The average bicycle export price stood at $48 per unit in 2022, shrinking by -42.2% against the previous year. Over the period under review, the export price, however, saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2017 when the average export price increased by 60%. As a result, the export price reached the peak level of $94 per unit. From 2018 to 2022, the average export prices remained at a somewhat lower figure.
There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Kenya ($69 per unit), while the average price for exports to South Africa ($13 per unit) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Cameroon (+7.0%), while the prices for the other major destinations experienced more modest paces of growth.
Bicycle Imports in Nigeria
After two years of decline, overseas purchases of bicycles and other cycles increased by 27% to 447K units in 2022. In general, imports, however, showed a abrupt setback. Imports peaked at 713K units in 2019; however, from 2020 to 2022, imports remained at a lower figure.
In value terms, bicycle imports shrank to $14M in 2022. Over the period under review, imports, however, continue to indicate a precipitous decrease. Over the period under review, imports reached the maximum at $44M in 2019; however, from 2020 to 2022, imports remained at a lower figure.
| Import of Bicycle in Nigeria (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| India | 10.3 | 3.1 | 0.5 | 4.7 | -23.0% |
| South Korea | 3.3 | 3.8 | 2.1 | 2.9 | -4.2% |
| China | 19.4 | 16.7 | 8.9 | 2.6 | -48.8% |
| Japan | 3.0 | 3.6 | 0.9 | 1.7 | -17.2% |
| United Kingdom | 4.1 | 5.1 | 2.2 | 0.8 | -42.0% |
| United States | 0.6 | 0.4 | 0.3 | 0.1 | -45.0% |
| Others | 2.9 | 3.8 | 1.6 | 1.6 | -18.0% |
| Total | 43.5 | 36.4 | 16.6 | 14.5 | -30.7% |
Top Suppliers of Bicycle to Nigeria in 2022:
- Japan (161.9K units)
- China (84.8K units)
- South Korea (76.8K units)
- India (53.5K units)
- United Kingdom (3.5K units)
- United States (0.8K units)
Bicycle Exports in Nigeria
Bicycle exports from Nigeria surged to 459 units in 2022, picking up by 25% compared with the year before. Over the period under review, exports enjoyed a significant increase. The most prominent rate of growth was recorded in 2021 when exports increased by 109%. The exports peaked in 2022 and are likely to see steady growth in the immediate term.
In value terms, bicycle exports contracted markedly to $22K in 2022. Overall, exports showed pronounced growth. The most prominent rate of growth was recorded in 2021 when exports increased by 125% against the previous year. As a result, the exports attained the peak of $30K, and then shrank sharply in the following year.
| Export of Bicycle in Nigeria (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Tanzania | 0.1 | 0.1 | 2.6 | 4.0 | 242.0% |
| Cameroon | 1.6 | 1.8 | 2.3 | 3.5 | 29.8% |
| Niger | 10.2 | 4.4 | 6.3 | 1.9 | -42.9% |
| Kenya | 0.1 | 0.6 | 1.2 | 1.5 | 146.6% |
| Benin | 0.3 | 0.1 | 1.1 | 1.4 | 67.1% |
| Angola | 1.4 | 0.6 | 0.8 | 1.2 | -5.0% |
| Burkina Faso | 0.6 | 0.6 | 0.8 | 1.2 | 26.0% |
| Cote d'Ivoire | 1.0 | 0.5 | 0.8 | 1.0 | 0.0% |
| South Africa | 0.3 | 0.5 | N/A | 0.4 | 10.1% |
| Gambia | N/A | N/A | 0.1 | N/A | 0% |
| Others | 4.0 | 4.4 | 14.4 | 6.0 | 14.5% |
| Total | 19.6 | 13.6 | 30.5 | 22.0 | 3.9% |
Top Export Markets for Bicycle from Nigeria in 2022:
- Tanzania (93.0 units)
- Cameroon (83.0 units)
- Niger (45.0 units)
- Benin (34.0 units)
- Angola (29.0 units)
- Burkina Faso (28.0 units)
- South Africa (27.0 units)
- Cote d'Ivoire (24.0 units)
- Kenya (22.0 units)
This report provides an in-depth analysis of the bicycle market in Nigeria. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.
Product coverage:
- Prodcom 30921000 - Bicycles and other cycles (including delivery tricycles), nonmotorised
- Prodcom 30921030 -
- Prodcom 30921050 -
Country coverage:
- Nigeria
Data coverage:
- Market volume and value
- Per Capita consumption
- Forecast of the market dynamics in the medium term
- Trade (exports and imports) in Nigeria
- Export and import prices
- Market trends, drivers and restraints
- Key market players and their profiles
Reasons to buy this report:
- Take advantage of the latest data
- Find deeper insights into current market developments
- Discover vital success factors affecting the market
This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.
In this report, you can find information that helps you to make informed decisions on the following issues:
- How to diversify your business and benefit from new market opportunities
- How to load your idle production capacity
- How to boost your sales on overseas markets
- How to increase your profit margins
- How to make your supply chain more sustainable
- How to reduce your production and supply chain costs
- How to outsource production to other countries
- How to prepare your business for global expansion
While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.
-
1. INTRODUCTION
Making Data-Driven Decisions to Grow Your Business
- REPORT DESCRIPTION
- RESEARCH METHODOLOGY AND AI PLATFORM
- DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
- GLOSSARY AND SPECIFIC TERMS
-
2. EXECUTIVE SUMMARY
A Quick Overview of Market Performance
- KEY FINDINGS
- MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
-
3. MARKET OVERVIEW
Understanding the Current State of The Market and Its Prospects
- MARKET SIZE
- MARKET STRUCTURE
- TRADE BALANCE
- PER CAPITA CONSUMPTION
- MARKET FORECAST TO 2030
-
4. MOST PROMISING PRODUCT
Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO- TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
- BEST-SELLING PRODUCTS
- MOST CONSUMED PRODUCT
- MOST TRADED PRODUCT
- MOST PROFITABLE PRODUCT FOR EXPORT
-
5. MOST PROMISING SUPPLYING COUNTRIES
Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO- TOP COUNTRIES TO SOURCE YOUR PRODUCT
- TOP PRODUCING COUNTRIES
- TOP EXPORTING COUNTRIES
- LOW-COST EXPORTING COUNTRIES
-
6. MOST PROMISING OVERSEAS MARKETS
Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO- TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
- TOP CONSUMING MARKETS
- UNSATURATED MARKETS
- TOP IMPORTING MARKETS
- MOST PROFITABLE MARKETS
7. PRODUCTION
The Latest Trends and Insights into The Industry
- PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
- IMPORTS FROM 2012–2023
- IMPORTS BY COUNTRY
- IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
- EXPORTS FROM 2012–2023
- EXPORTS BY COUNTRY
- EXPORT PRICES BY COUNTRY
-
10. PROFILES OF MAJOR PRODUCERS
The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO -
LIST OF TABLES
- Key Findings In 2023
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Per Capita Consumption In 2012-2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
-
LIST OF FIGURES
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
- Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
- Trade Balance, In Physical Terms, 2012-2023
- Trade Balance, In Value Terms, 2012-2023
- Per Capita Consumption, 2012-2023
- Market Volume Forecast to 2030
- Market Value Forecast to 2030
- Products: Market Size And Growth, By Type
- Products: Average Per Capita Consumption, By Type
- Products: Exports And Growth, By Type
- Products: Export Prices And Growth, By Type
- Production Volume And Growth
- Exports And Growth
- Export Prices And Growth
- Market Size And Growth
- Per Capita Consumption
- Imports And Growth
- Import Prices
- Production, In Physical Terms, 2012–2023
- Production, In Value Terms, 2012–2023
- Imports, In Physical Terms, 2012–2023
- Imports, In Value Terms, 2012–2023
- Imports, In Physical Terms, By Country, 2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, 2012–2023
- Exports, In Value Terms, 2012–2023
- Exports, In Physical Terms, By Country, 2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
1390
This report provides an in-depth analysis of the bicycle market in Nigeria.
3772
This report provides an in-depth analysis of the global bicycle market.
1390
This report provides an in-depth analysis of the bicycle market in Nigeria.
3772
This report provides an in-depth analysis of the global bicycle market.
222
Explore the top import markets for bicycles and their key statistics. Discover the booming bicycle industry and the countries driving its growth. Find out the latest import values and trends in the global bicycle market.
534
In 2019, the global bicycle market increased by 0.4% to $18.8B, rising for the fourth consecutive year after four...
1097
In 2016, the amount of bike imported worldwide stood at X tons, import ,therefore, remained relatively stable against the previous year figure. Overall, it indicated a moderate expansion from X>
891
In 2016, the amount of bike imported worldwide stood at X tons, import ,therefore, remained relatively stable against the previous year figure. Overall, it indicated a moderate expansion from X>
1923
The global trade in bicycles amounted to X million USD in 2015, fluctuating mildly over the period under review. A significant drop in 2009 was followed by robust growth over next three years, until it levelled off thro
1329
Canyon Bicycles, a well-known German bicycle producer, has announced the opening of an office in Melbourne, Australia, as well as the launching of direct sales in New Zealand. The new office will act as a representative of Canyon Bicycles, participatin
222
Explore the top import markets for bicycles and their key statistics. Discover the booming bicycle industry and the countries driving its growth. Find out the latest import values and trends in the global bicycle market.
534
In 2019, the global bicycle market increased by 0.4% to $18.8B, rising for the fourth consecutive year after four...
1097
In 2016, the amount of bike imported worldwide stood at X tons, import ,therefore, remained relatively stable against the previous year figure. Overall, it indicated a moderate expansion from X>
891
In 2016, the amount of bike imported worldwide stood at X tons, import ,therefore, remained relatively stable against the previous year figure. Overall, it indicated a moderate expansion from X>
