Nigeria Electric Vehicle Market (2020-2026)

Market Forecast By Vehicle Types (Two-Wheeler, Passenger Vehicle, Bus, Trucks), By Regions (Eastern Region, Mid-Western Region, Western Region, Northern Region) and competitive landscape

Product Code: ETC002511 Publication Date: Apr 2020 Product Type: Report
Publisher: 6Wresearch No. of Pages: 70 No. of Figures: 35 No. of Tables: 5

Nigeria electric vehicle market is anticipated to grow moderately during the forecast period. Although Nigeria is lagging in the race for electric vehicles, the government is keen on to encouraging the electric mobility in the country to minimize the harmful gas and carbon emission from the traditional combustion of fossil fuels resulting in environmental misbalance and global warming. Moreover, the rising awareness among the people regarding environmental degradation and related benefits through the use of electric vehicles would accelerate the adoption rate of electric vehicles in Nigeria in the coming years.

According to 6Wresearch, Nigeria Electric Vehicle Market size is anticipated to register growth during 2020-2026. The Nigerian government has introduced various support measures in the form of incentives and subsidies for promoting electric vehicles in the country. A Nigerian based auto company, Jet Motor Company, has raised $9 million from foreign investors to intensify the creation of electric vehicles and boost the market growth.  Furthermore, increased spending from government and enhanced FDI in place are the other factors, which would result in the growth of the electric vehicle market during the forecast period. However, subdued market growth is expected in the year 2020, on account of suspended economic activities due to the outbreak of COVID-19 pandemic.

Vehicle types, the passenger vehicle segment is projected to grow significantly in the coming years capturing dominant market revenue share in the overall Nigeria electric vehicle market. Also, the two-wheelers electric vehicle segment looks promising with the advancements in technology and increased usage in the past few years.

The Nigeria electric vehicle market report comprehensively covers the market by vehicle types and regions including Eastern Region, Mid-Western Region, Western Region, and Northern Region. The Nigeria electric vehicle market outlook provides an unbiased and detailed analysis of the Nigeria electric vehicle market trends, Nigeria electric vehicle market share, opportunities, high growth areas, and market drivers which would help the stakeholders to device and align their market strategies according to the current and future market dynamics.

Key Highlights of the Report:

  • Nigeria Electric Vehicle Market Overview
  • Nigeria Electric Vehicle Market Outlook
  • Nigeria Electric Vehicle Market Forecast
  • Historical Data of Nigeria Electric Vehicle Market Revenues for the Period 2016-2019
  • Nigeria Electric Vehicle Market Size and Nigeria Electric Vehicle Market Forecast of Revenues Until 2026
  • Historical Data and Forecast of Nigeria Electric Vehicle Market Revenues, By Types, for the period 2016-2026
  • Historical Data and Forecast of Nigeria Electric Vehicle Market Revenues, By Regions, for the period 2016-2026
  • Market Drivers and Restraints
  • Nigeria Electric Vehicle Market Trends and Industry Life Cycle
  • Market Opportunity Assessment
  • Nigeria Electric Vehicle Market Share, By Players
  • Nigeria Electric Vehicle Market Overview on Competitive Benchmarking
  • Company Profiles
  • Key Strategic Recommendations

 Markets Covered

The Nigeria electric vehicle market report provides a detailed analysis of the following market segments:

  • By Vehicle Types
    • Passenger Vehicle
    • Two-Wheeler
    • Bus
    • Truck

  • By Regions
    • Eastern Region
    • Mid-Western Region
    • Western Region
    • Northern Region

TABLE OF CONTENTS

1. Executive Summary

2. Introduction

2.1 Report Description

2.2 Key Highlights

2.3 Market Scope & Segmentation

2.4 Research Methodology

2.5 Assumptions

3. Nigeria Electric Vehicle Market Overview

3.1 Country Indicators

3.2 Nigeria Electric Vehicle Market Revenues and Volume, 2016-2026F

3.3 Nigeria Electric Vehicle Market Revenue Share, By Vehicle Types, 2019 & 2026F

3.4 Nigeria Electric Vehicle Market Revenue Share, By Regions, 2019 & 2026F

3.5 Nigeria Electric Vehicle Market - Industry Life Cycle

3.6 Nigeria Electric Vehicle Market - Porter’s Five Forces

4. Nigeria Electric Vehicle Market Dynamics

4.1 Impact Analysis

4.2 Market Drivers

4.3 Market Restraints

5. Nigeria Electric Vehicle Market Trends

6. Nigeria Electric Vehicle Market Overview, By Vehicles Types

6.1 Nigeria Electric Passenger Vehicle Market Revenues and Volume , 2016-2026F

6.2 Nigeria Electric Bus Market Revenues and Volume, 2016-2026F

6.3 Nigeria Electric Two-Wheelers Market Revenues and Volume, 2016-2026F

6.4 Nigeria Electric Truck Market Revenues and Volume, 2016-2026F

7. Nigeria Electric Vehicle Market Overview, By Regions

7.1 Nigeria Electric Vehicle Market Revenues, By Eastern Region, 2016-2026F

7.2 Nigeria Electric Vehicle Market Revenues, By Mid-Western Region, 2016-2026F

7.3 Nigeria Electric Vehicle Market Revenues, By Western Region, 2016-2026F

7.4 Nigeria Electric Vehicle Market Revenues, By Northern Region, 2016-2026F

8. Nigeria Electric Vehicle Market Key Performance Indicators

9. Nigeria Electric Vehicle Market Opportunity Assessment

9.1 Nigeria Electric Vehicle Market Opportunity Assessment, By Vehicle Types, 2026F

9.2 Nigeria Electric Vehicle Market Opportunity Assessment, By Regions, 2026F

10. Nigeria Electric Vehicle Market Competitive Landscape

10.1 Nigeria Electric Vehicle Market Revenue Share, By Companies, 2019

10.2 Nigeria Electric Vehicle Market Competitive Benchmarking, By Operating & Technical Parameters

11. Company Profiles

12. Key Strategic Recommendations

13. Disclaimer

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