Image

Middle East and Africa Electric Vehicle Market – Industry Trends and Forecast to 2029

  • Automotive
  • Published Report
  • Jun 2022
  • MEA
  • 350 Pages
  • No of Tables: 130
  • No of Figures: 30
  • Automotive
  • Published Report
  • Jun 2022
  • MEA
  • 350 Pages
  • No of Tables: 130
  • No of Figures: 30

Middle East and Africa Electric Vehicle Market, By Product/Propulsion Type (Battery Electric Vehicle (BEV), Plug-In Hybrid Electric Vehicle (PHEV), Fuel Cell Electric Vehicle (FCEV), ICE and Micro Hybrid Vehicle), Vehicle Drive Type (FWD, RWD and AWD), Vehicle Speed (Less Than 100 MPH, 100 to 125 MPH and More Than 125 MPH), Vehicle Class (Mid-Priced and Luxury), Sales Channel (OEM and Aftermarket), Electric Motor Type (DC Motors, Brushless DC Motors, Permanent Magnet Synchronous Motors and Three Phase Induction Motors), Power Output (Less Than 100 KW, 100 to 250 KW and More Than 100 KW), Voltage Range (Less Than 48 Volt and More Than 48 Volt), Charging Station Type (Normal Charging and Super Charging), Connectivity Type (V2B OR V2H, V2G, V2V and V2X), Power Train (Parallel Hybrid, Series Hybrid and Combined Hybrid), Vehicle Type (Passenger Vehicles, Light Commercial Vehicle and Heavy Commercial Vehicle), Industry Trends and Forecast To 2029

Middle East and Africa Electric Vehicle Market

Market Analysis and Insights                    

Electric vehicles are a promising renewable substitute for the gasoline power-based vehicles to protect the environment. Many governments are taking initiatives to promote electric vehicles and are providing tax rebates and redemption. The rise in the market of electric vehicles in the Middle East and Africa is because the technology is upgrading rapidly, making the demand for electric vehicles rise. Some factors driving the market are increasing demand for electric vehicles, incentive & subsidies by government for electric vehicles, and growing environmental concerns. However, the high upfront cost is hampering the growth of the market.

Middle East and Africa Electric Vehicle Market

Middle East and Africa Electric Vehicle Market

Data Bridge Market Research analyses that the electric vehicle market will grow at a CAGR of 28.1% from 2022 to 2029.

Report Metric

Details

Forecast Period

2022 to 2029

Base Year

2021

Historic Years

2020 (Customizable to 2019 - 2014)

Quantitative Units

Revenue in USD Million, Volumes in Units, Pricing in USD

Segments Covered

By Product/Propulsion Type (Battery Electric Vehicle (BEV), Plug-In Hybrid Electric Vehicle (PHEV), Fuel Cell Electric Vehicle (FCEV), ICE and Micro Hybrid Vehicle), Vehicle Drive Type (FWD, RWD and AWD), Vehicle Speed (Less Than 100 MPH, 100 to 125 MPH and More Than 125 MPH), Vehicle Class (Mid-Priced and Luxury), Sales Channel (OEM and Aftermarket), Electric Motor Type (DC Motors, Brushless DC Motors, Permanent Magnet Synchronous Motors and Three Phase Induction Motors), Power Output (Less Than 100 KW, 100 to 250 KW and More Than 100 KW), Voltage Range (Less Than 48 Volt and More Than 48 Volt), Charging Station Type (Normal Charging and Super Charging), Connectivity Type (V2B OR V2H, V2G, V2V and V2X), Power Train (Parallel Hybrid, Series Hybrid and Combined Hybrid), Vehicle Type (Passenger Vehicles, Light Commercial Vehicle and Heavy Commercial Vehicle)

Countries Covered

U.A.E, Saudi Arabia, South Africa, Israel, Egypt and the Rest of Middle East and Africa

Market Players Covered

Volkswagen AG, TOYOTA MOTOR CORPORATION, Hyundai Motor Company, BMW AG, Ford Motor Company, Tesla, Mercedes-Benz Group AG, Mahindra Electric Mobility Limited (A Subsidiary of Mahindra & Mahindra Ltd.), TATA MOTORS, MG MOTOR, AB Volvo, B.Y.D. Motors Inc., Nissan Motor Co., Ltd., MITSUBISHI MOTORS CORPORATION, Geely Automobile Holdings Limited, ASHOK LEYLAND among others

Market Definition

An electric vehicle is a vehicle that runs fully or partially on electricity. Unlike conventional vehicles that use fossil fuels, e-vehicles use an electric motor powered by a fuel cell or batteries. E-vehicle or 'E.V.' are the common terms for an electric vehicle. In most cases, the term includes both BEVs and PHEVs. The letters BEVs stand for battery electric vehicles, while PHEVs stands for plug-in hybrid electric vehicles. An electric vehicle (E.V.) operates on an electric motor instead of an internal-combustion engine that generates power by burning a mix of fuel and gases. Therefore, electric vehicles are seen as a possible replacement for current-generation automobiles to address the issue of rising pollution, global warming, and depleting natural resources. An electric vehicle's range is the distance it can cover on a single charge.

Electric Vehicle Market Dynamics

Drivers

  • Increasing demand for electric vehicles

The automotive industry has grown enormously over the years owing to the rising demand for luxurious electric vehicles. Some of the factors driving the sales of electric vehicles include stringent government regulations towards vehicle emissions, increasing demand for fuel-efficient, high performance, and low emissions.

  • Incentives & subsidies by the government for electric vehicles

It has been observed that governments of many states are raising the awareness among the citizens about electric vehicles and providing more benefits like tax redemption or rebate. People are shifting towards more automated and technologically updated electric vehicles, as more electric vehicles have been observed on the roads.

  • Increasing environmental concerns

Car pollution has been a significant concern for the environment and also in the rise of global warming since decades. But as the technology is upgrading the shift of paradigm from normal vehicles (which run on fuels like petroleum, C.N.G.) to electric vehicles has been increased rapidly and so as the demand for the electric vehicle in the market.

  • High fluctuation in fuel prices

The price of oil and gas has always fluctuated for several reasons, the non-renewable source being one of the major reasons. Geopolitical restraint and complications also affect the price of the fuel. The prices of energy tend to be very high in different countries, which affects the economic growth of countries and the spending power of individuals. The high fluctuating prices of fuel globally is creating a need for individuals to choose electric vehicles as an alternative mode of transportation.

Middle East and Africa Electric Vehicle Market

Opportunity

  • Cloud based charging stations (smart electric vehicle charging)

Cloud based charging allows E.V. charging stations to be connected to the internet and constantly communicate with a central system. In case of a server failure, the cloud system uses one of the multiple back servers, and your charging station won't notice any change. Cloud based charging stations create vast opportunities as it has many benefits like easier to connect to the user and vehicle data, performing calculations a lot faster and being easier to replace and can easily be upgraded.

Restraint/Challenge

  • Lack of charging infrastructure for electric vehicles in MEA region

The primary requirement for the electric vehicle to grow is the availability of proper charging stations an adequate distance. However, there is a massive shortage of infrastructural development in underdeveloped countries, limiting the electric vehicle market growth. There is a shortage of charging stations, and companies are not taking initiatives to launch new electric vehicles and electric bikes because of the prevailing lack of charging stations.

COVID-19 Impact on Electric Vehicle Market

COVID-19 highly impacted the transportation of the public. During social distancing, travellers were asked to avoid travel unless it's essential. Also the behaviour of the individuals have certainly changed in the pandemic, which leads to decrease in the sale of automotive vehicles. The pandemic brought a huge drop in sales for the electric vehicle market as the lockdown prevailed in most of the regions. The lockdown led manufacturers and consumers to stop the processes for few months completely. The demand for electric vehicles faced a drastic downfall due to the shutdown of various automobile, transport and electronics industries. Also, global electric car sales experienced an unprecedented drop. However, the things are getting normal day by day, E.V. growth are now obsolete.

Manufacturers are making various strategic decisions to bounce back post COVID-19. The players are conducting multiple research and development activities to improve the performance and sales electric vehicle. With this, the companies will bring advanced electric vehicle to the market.

For instance,

  • In April 2021, As per the Society of Electric Vehicle Manufacturers (SMEV) registration of all electric vehicles during year 2021 declined 20 percent against units sold in FY20. Electric two-wheelers witnessed a decline of 6 percent. Electric three-wheelers (E3W) saw a fall of 37 percent as against units sold in FY20

Thus, the COVID-19 has severely impacted the demand of electric vehicle in the market, limited supply and shortage of semiconductors and gadgets has significantly affected the supply of electric vehicle in the market.

Recent Developments

  • In April 2022, TOYOTA MOTOR CORPORATION announced the launch of its all electric S.U.V. bZ4X. It will be available with a choice between front-wheel-drive (FWD) and rear-wheel-drive (RWD), both of which will have a 71.4 kWh battery pack. Thus with this, the company will offer a S.U.V. with longer driving range to their customers
  • In January 2022, Mercedes-Benz Group AG announced that their E.Q. division will launch the E.Q.A., E.Q.B. and E.Q.C. S.U.V.s as well as the EQE and E.Q.S. luxury sedans in South Africa. The cars will be sold and serviced through 36 specially appointed dealerships in the country. Thus with this, the company will expand its presence in the region

Middle East and Africa Electric Vehicle Market Scope

The electric vehicle market is segmented based on product/propulsion type, vehicle drive type, vehicle speed, vehicle class, sales channel, electric motor type, power output, voltage range, charging station type, connectivity type, power train, and vehicle type. The growth amongst these segments will help you analyse major growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Product/Propulsion Type

  • Battery Electric Vehicle (BEV)
  • Plug-In Hybrid Electric Vehicle (PHEV)
  • Fuel Cell Electric Vehicle (FCEV)
  • ICE And Micro Hybrid Vehicle

On the basis of product/propulsion type, the Middle East and Africa electric vehicle market is segmented into battery electric vehicle (BEV), plug-in hybrid electric vehicle (PHEV), fuel cell electric vehicle (FCEV), ICE and micro hybrid vehicle.

Vehicle Drive Type

  • FWD
  • RWD
  • AWD

On the basis of vehicle drive type, the Middle East and Africa electric vehicle market is segmented into FWD, RWD, and AWD.

Vehicle Speed

  • Less Than 100 MPH
  • 100 TO 125 MPH
  • More Than 125 MPH

On the basis of vehicle speed, the Middle East and Africa electric vehicle market is segmented into less than 100 MPH, 100 To 125 MPH, and more than 125 MPH.

Vehicle Class

  • Mid-Priced
  • Luxury

On the basis of vehicle class, the Middle East and Africa electric vehicle market is segmented into mid-priced and luxury.

Sales Channel

  • OEM
  • Aftermarket

On the basis of sales channel, the Middle East and Africa electric vehicle market is segmented into OEM and aftermarket.

Electric Motor Type

  • DC Motors
  • Brushless DC Motors
  • Permanent Magnet Synchronous Motors
  • Three Phase Induction Motors

On the basis of electric motor type, the Middle East and Africa electric vehicle market is segmented into D.C. motors, brushless D.C. motors, permanent magnet synchronous motors and three phase induction motors.

Power Output

  • Less Than 100 KW
  • 100 TO 250 KW
  • More Than 25O KW

On the basis of power output, the Middle East and Africa electric vehicle market is segmented into less than 100 KW, 100 to 250 KW and more than 100 KW.

Voltage Range

  • Less Than 48 Volt
  • More Than 48 Volt

On the basis of voltage range, the Middle East and Africa electric vehicle market is segmented into less than 48 volt and more than 48 volt.

Charging Station Type

  • Normal Charging
  • Super Charging

On the basis of charging station type, the Middle East and Africa electric vehicle market is segmented into normal charging and super charging.

Connectivity Type

  • V2B OR V2H
  • V2G
  • V2V
  • V2X

On the basis of connectivity type, the Middle East and Africa electric vehicle market is segmented into V2B OR V2H, V2G, V2V and V2X.

Power Train

  • Parallel Hybrid
  • Series Hybrid
  • Combined Hybrid

On the basis of power train, the Middle East and Africa electric vehicle market is segmented into parallel hybrid, series hybrid and combined hybrid.

Vehicle Type

Middle East and Africa Electric Vehicle Market

On the basis of vehicle type, the Middle East and Africa electric vehicle market is segmented into passenger vehicles, light commercial vehicle and heavy commercial vehicle.

Middle East and Africa Electric Vehicle Market

The electric vehicle market is analysed, and market size insights and trends are provided by the product/propulsion type, vehicle drive type, vehicle speed, vehicle class, sales channel, electric motor type, power output, voltage range, charging station type, connectivity type, power train and vehicle type and countries as referenced above.

Middle East and Africa electric vehicle market covers countries such as South Africa, Saudi Arabia, U.A.E., Israel, Egypt and rest of Middle East and Africa.

The U.A.E is expected to dominate the Middle East and Africa electric vehicle market as U.A.E is a regional leader in adopting E.V.s. The U.A.E government aims to boost its own E.V. use by 20 percent in the year 2021, which will help to extend E.V. growth and the country's growth in the Middle East and Africa electric vehicle market. Moreover, U.A.E has the most significant number of E.V. charging stations in the Middle East & Africa region. The highest concentration of charging stations is in Dubai. Initiatives such as Dubai Green Mobility which promotes the use of low-carbon transportation motivates their residents and businesses to use electric and hybrid vehicles is promoting the growth of E.V.s in U.A.E. Also, Dubai Supreme Council of Energy mandated that 10 percent of all new cars in the Emirate must be electric or hybrid by 2020, and 10 percent of all cars should be green by 2030. U.A.E has also established an incentive system such as free charging stations, discounted car registrations and renewal, toll exemptions, bonus warranty for E.V.s, free parking in certain areas and other perks to boost E.V. adoption in the country. All these factors were contributing the growth of the country in Middle East and Africa electric vehicle market.

The country section of the electric vehicle market report also provides individual market impacting factors and changes in regulations in the market domestically that impact the current and future trends of the market. Data points such as new sales, replacement sales, country demographics, disease epidemiology and import-export tariffs are some of the significant pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands and the impact of sales channels are considered while providing forecast analysis of the country data.

Competitive Landscape and Middle East and Africa Electric Vehicle Market Share Analysis

The electric vehicle market competitive landscape provides details of the competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, solution launch, product width and breadth, application dominance. The above data points are only related to the companies' focus on the electric vehicle market.

Some of the major players operating in the Middle East and Africa electric vehicle market are Volkswagen AG, TOYOTA MOTOR CORPORATION, Hyundai Motor Company, BMW AG, Ford Motor Company, Tesla, Mercedes-Benz Group AG, Mahindra Electric Mobility Limited (A Subsidiary of Mahindra & Mahindra Ltd.), TATA MOTORS, MG MOTOR, AB Volvo, B.Y.D. Motors Inc., Nissan Motor Co., Ltd., MITSUBISHI MOTORS CORPORATION, Geely Automobile Holdings Limited, ASHOK LEYLAND among others.

 


SKU-
Why Choose Us


Frequently Asked Questions

The major players covered in the Middle East and Africa Electric Vehicle Market are TOYOTA MOTOR CORPORATION, Nissan Motor Co., LTD., Volkswagen AG, Ford Motor Company, Groupe PSA, among other players in Middle East and Africa.
The significant factors flourishing the growth of the Middle East and Africa Electric Vehicle Market are Electric Vehicle (EV) Sales, Sales of Luxury Vehicles, and Demand for Fuel-Efficient.
This electric vehicle market report provides details of market share, new developments, and product pipeline analysis, impact of domestic and localised market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, product approvals, strategic decisions, product launches, geographic expansions, and technological innovations in the market.
The major countries covered in the Middle East and Africa Electric Vehicle Market are U.A.E, Saudi Arabia, South Africa, Israel, Egypt and the Rest of Middle East and Africa.