With an estimated 16 million residents, Lagos is the most densely populated state in Nigeria, facing immense pressure to transport its huge population. According to a global ranking of mobility in cities, Lagos was ranked worst out of 60 cities across the world in 2022. This highlights the urgent need for alternative modes of transportation.
Cycling is one of the cheapest modes of transport. It can ease traffic gridlock and its associated pollution and environmental impacts, making the city more attractive as a destination. Yet cycling continues to be marginalised in developing countries.
To market cycling as a sustainable mode of transport, it is important to understand the challenges, opportunities and prospects facing consumers. Here's an in-depth look at the bicycle market in Nigeria, exploring its current state, key trends, and potential for growth.
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Challenges to Cycling in Lagos
Despite the obvious benefits, cycling in Lagos faces several challenges:
- Personal Fears: Many adults don’t know how to ride a bike and can’t imagine themselves cycling in Lagos. Some were very reluctant to learn and many felt it was unsafe and wouldn’t even encourage their children to cycle.
- Gender Discrimination: Women are often harassed and unfairly treated on the road.
- Social Issues: A lack of awareness of the benefits of cycling is compounded by societal marginalisation - many people still feel rich people drive and poor people cycle. Cyclists may have no place to shower or to safely store their bicycles.
- Structural Limitations: These challenges most often place responsibilities on government to support cycling infrastructure.
These challenges need to be addressed to promote cycling effectively in Lagos.
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Bicycle infrastructure in Copenhagen.
Opportunities and Prospects
Despite the challenges, there are significant opportunities for the bicycle market in Nigeria:
- Health Benefits: The health benefits of cycling have been well recognised. Lagos needs to promote cycling as a contributor for better population health.
- Economic Benefits: According to the former permanent secretary of the Lagos State Ministry of Transport, Lagos is set to lose US$21 billion monthly by 2030 due to time spent stuck in traffic. Fewer cars on the roads would allow people to be more productive.
- Environmental Benefits: Road transport in Lagos - with the abundance of old vehicles and high sulphur content in imported fuels - is a significant contributor to air pollution. People are increasingly conscious of how their environment affects their wellbeing.
Awareness of cycling should be promoted, alongside increased availability of bicycles for people to use. With rental services like Awa Bike providing bike sharing across educational campuses and Thinkbikes offering electric bicycles, there are business opportunities for increasing the number of bicycles in Lagos.
It’s important to recognise the growing numbers of cycling clubs in Lagos that provide a safe cycling environment and network and schedule group rides for budding cyclists. City Cyclers, Bikaholics, Greenhouse Bikers, Cycology and Cyclotron are some of the bigger cycling clubs in the state.
Bike Sharing Programs.
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Global Bicycle Market Trends
The global bicycle market is experiencing significant growth and innovation. Bicycles are easy to use and are considered one of the safest means of transportation. The trend towards cycling is well established in Europe and North America. This is due to the fact that most of the tournaments such as the Tour de France and LoToJa are held in these areas.
Bicycle market is expected to register CAGR of 7% during the forecast period.
Increasing no. An growing software base of bicycles in hiking and leisure sports, coupled with a growing quantity of biking occasions, is anticipated to propel the call for bicycles in each well-known and sports activities bicycles. The growing impact of superstar endorsement and growing media insurance for such occasions are anticipated to in addition gasoline marketplace boom.
Furthermore, numerous governing our bodies in European countries, inclusive of Cycling Ireland, sell avenue racing, travelling and amusement biking, tune racing, and off-avenue racing occasions are driving bicycle market growth. For instance, in line with the Irish Sports Council, investments made with the aid of using Sport Ireland in the direction of Cycling Ireland accelerated from EUR 292.five thousand in 2015 to EUR 440 thousand in 2019, which recommended the involvement of clients in numerous biking sports in Ireland.
In any other instance, Seville`s Bicycle Festival of Southern Europe ambitions to elevate recognition approximately biking, which had its twenty first version in 2018, with extra than 4,000 participants. The remaining goal of the occasion turned into to elevate recognition approximately biking and boom the uptake of biking in the city. Such recognition campaigns additionally increase the boom of the marketplace studied.
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In addition, mobile app development and recent advances in Global Positioning System (GPS); have led to an app-based dockless bike sharing system. In addition, the increased adoption of such dockless bicycle sharing systems is expected to significantly increase the demand for bicycles.
Chinese bicycle-sharing companies are expanding their businesses, especially in European countries, to seize market opportunities. This should further drive market growth over the next few years. Especially in metropolitan areas, due to increased traffic congestion and lack of parking space, people are considering using bicycles to save time at short distances.
At the same time, various governments are actively expanding the infrastructure needed to support cycling, encouraging people to choose their bike. However, especially in developing countries such as India, the lack of infrastructure needed to support and promote cycling is imminent and is expected to impede the growth of the bicycle market.
Fitness apps like Strava have reported a significant increase in cycling in unexpected cities like Los Angeles and Houston. And the data show similar trends across Europe. In many areas, gyms and pools have been closed for several weeks. In fact, in some countries, to buy new bikes or spend on bike maintenance to promote ridership during a pandemic.
For example, Italy has allocated € 210 million (£ 190 million / $ 250 million) to its cashback scheme, and Italian residents who have purchased a vehicle without an engine have € 500 (£ 450/590 million). With the blockade and social distance in place, the bicycle store suddenly became a "mandatory service" and the government granted an exemption from closure, making it comparable to a grocery store.
However, bicycle manufacturers rely on a diverse and geographically dynamic production chain, and parts arrive from around the world.
Market Segmentation
The bicycle market can be segmented by type, technology, and end-user.
By Type:
- Road Bike (largest revenue share of 41.1%)
- Mountain Bike
- Hybrid Bike
By Technology:
- Conventional (largest share of 85.2% in 2024)
- Electric (fastest-growing segment with a CAGR of over 8%)
By End User:
- Men (lead the market with 54.2% of market share in 2024)
- Women
- Kids
The conventional segment of the bicycle market accounts for the largest share of 85.2% in 2024 and is expected to remain dominant during the forecast period. The high market share is due to various factors such as the lower repair and maintenance costs of conventional bicycles compared to electric bicycles.
Furthermore, while bicycles are a convenient means of transportation, cycling has become a prominent sport and recreational activity, especially for women, in recent decades. Currently, women's conventional bicycles are dominating the world market in terms of technology.
The electric vehicle segment is expected to become the fastest growing segment with a CAGR of over 8% during the forecast period due to the ease of operation of e-bikes. E-bikes can also provide faster travel than their conventional counterparts. In addition, the latest batteries used in e-bikes can provide higher capacity and longer life despite their small size. Such maintenance-free batteries add to the ease of use of the e-bike.
Key Players and Recent Developments
Several companies are making strides in the bicycle market:
- Pon.Bike: Acquired the Dutch brand Urban Arrow electric bicycle in 2021.
- Acell Group: Launched a new fast and powerful electric bicycle "Sparta" in 2020.
- Trek Bicycle: Announced a new partnership with Bike Exchange, an online marketplace, in 2020.
Regional Analysis
Asia-Pacific was dominant in the bicycle market with a revenue share of over 33%. This region is also expected to become the fastest growing segment with a CAGR of over 8.0% in the coming years.
Countries such as China, Japan and Singapore are emphasizing the implementation of the necessary infrastructure to encourage and support cycling. Some cities in Asia, such as Tokyo, are known to have the lowest accident rates and are therefore considered ideal cities for urban cycling.
Europe is expected to witness significant growth during the forecast period. Europe is home to a number of cities that are considered ideal for cycling. Some of the most popular cycling events, such as the Tour de France and Ronde van Vlaanderen, are also held in Europe.
In 2024, Asia-Pacific accounted for the largest market share of 57.1%. Japan, Singapore, China, and other nations are placing a strong emphasis on developing the infrastructure required to facilitate and promote bicycle commuting.
The bicycle market in Europe is experiencing growth due to the EU’s stringent carbon emission targets, which are promoting bicycles as a sustainable mobility solution. In line with this, increasing urban congestion in major cities is convincing residents to adopt more efficient personal transportation alternatives, which is impelling the market.
The Asia Pacific market is largely driven by rapid urbanization across countries like China, India, and Indonesia, prompting demand for compact and sustainable mobility options. Furthermore, the region’s large youth demographic is fueling interest in recreational and fitness-oriented cycling.
Nigeria E-Bike Market
Nigerian e-bikes are bicycles having a pedal-operated, battery-powered "assist" that occasionally includes a throttle. A small motor activates when you press the pedals on a pedal-assist e-bike, giving you a boost that allows you to glide over rough terrain and climb hills without running out of gas.
The Nigeria e - bike market accounted for $XX Billion in 2021 and is anticipated to reach $XX Billion by 2030, registering a CAGR of XX% from 2022 to 2030.
ThinkBikes Nigeria is introducing locally made electric tricycles. The company's first offering is an electric freight tricycle named Alpha 1.0 that is aimed at the expanding logistics and on-demand delivery sectors. The bodywork, wheels, and batteries are just a few of the more than 90% of the parts that come from domestic suppliers. Just the electric motors come from abroad.
The bikes have a range of up to 100 kilometers when empty and 60 kilometers when loaded. The engines are 1.5 kW (peak). In Nigeria's thriving logistics and distribution sector, ThinkBikes is focusing on small to medium-sized businesses. For its tricycles, ThinkBikes has already received over 100 orders.
The Future of Cycling in Nigeria
I’ve never ridden a bicycle in my adult life-certainly not in a city like Lagos. So it surprised me to learn that bicycles are now the second most widely owned means of mobility in Nigeria. We often assume that motorcycles (Okada) dominate many cities in Nigeria, and in many states, they do. But bicycles are quietly gaining ground.
In Lagos, where demand for mobility is extremely high and car ownership is more aspirational than realistic, bicycles are becoming more than just a leisure activity-they’re an economic lever for the future. I can already see the shift in trend in Lagos-companies like Thinkbike, Glovo, and Chowdeck are using bicycles for economic scale and job creation.
It’s only a matter of time before local bicycle manufacturing becomes a serious investment play in Nigeria. With over 50% of our 200M people under 20, the question is: who’s investing in bicycle manufacturing and infrastructure across our cities?
| Indicator | Value |
|---|---|
| Lagos Monthly Loss Due to Traffic (2030) | US$21 billion |
| Asia-Pacific Market Share (2024) | 57.1% |
| Conventional Bicycle Market Share (2024) | 85.2% |
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