Report Description

According to ConsTrack360, the electric vehicle market in the region is expected to grow by 17.6% on an annual basis to reach US$3.3 billion in 2023.

The medium to long term growth story of the electric vehicle market in Africa & Middle East remains strong. Electric vehicle adoption is expected to grow steadily over the forecast period, recording a CAGR of 20.6% during 2023-2027. The electric vehicle market in the region will increase from US$2.8 billion in 2022 to reach US$7.0 billion by 2027.

The demand for electric vehicles is growing at a significant pace and the trend is projected to further continue from the short to medium-term perspective in the Africa and Middle East region. Investment in the sector, especially in the Middle East, is rising rapidly with global manufacturers seeking to set up their base in the regional market to tap into the high growth opportunity.
Apart from manufacturing, players from other regions are also entering the African and Middle Eastern markets with their electric vehicle product line-up, owing to the high growth projected in the sector. Overall, ConsTrack360 maintains a robust growth outlook for the industry, with factors like government initiatives and private investment in the segment, aiding the growth over the next three to four years.

Global players are expanding their presence in the African and Middle Eastern region in 2023

With the EV penetration poised to grow at an accelerated pace over the next three to four years, an increasing number of firms in the global market are expanding their presence across the region.

  • Zeekr, the EV brand of Chinese firm Geely, is launching in four Middle Eastern countries in 2024. This is part of the firm strategy to strengthen its presence in the global market before the planned listing in the United States. Notably, a growing number of Chinese EV makers have adopted the strategy, including BYD, which is expanding into the global markets in search of accelerated growth. In 2024, Zeekr is planning a launch in Saudi Arabia, Qatar, Bahrain, and the Emirates.
  • One Electric, the Indian brand, has entered into a collaboration with a Kenyan manufacturer to expand in the African market. The firm is betting on local manufacturing to build a strong regional presence in Africa. By the end of 2023, One Electric is also planning to set up a battery manufacturing facility in Africa, enabling the firm to better tap into the growing electric vehicle landscape in the region from the short to medium-term perspective.



Hyundai Motors, the South Korean automaker, is another firm that has announced to set up an EV plant in Saudi Arabia. This is part of the firm’s strategy to tap into the growing EV market. Going forward, ConsTrack360 expects more such global firms to set up their manufacturing facilities in Africa and Middle East countries, thereby driving the competitive landscape in the region.

Government policies are expected to aid the growth of electric vehicle penetration in the Middle East

The government, in the United Arab Emirates, revised its National Electric Vehicles Policy to accelerate the adoption of green mobility and support the transition to EVs. The policy aims to promote cooperation with both federal and local partners, including private players, with the goal of creating a comprehensive nationwide network of electric vehicle charging stations across the Emirates. This network will be designed to meet the requirements of EV owners while also effectively regulating the electric vehicle market within the country.

The National Electric Vehicles Policy also aims to increase the share of EVs to 50% of total vehicles on the roads by 2050. Alongside this, the Global EV Market initiative launched by the government in May 2023 will offer incentives for people to own electric vehicles. The move is also expected to drive investment in the infrastructure-related space from the short to medium-term perspective. The Dubai Electricity and Water Authority also committed to enhancing the EV infrastructure by installing 1,000 public charging stations in the Emirates by 2025.

Regional firms are forging strategic alliances with global automakers to put electric vehicles on African roads

The strategic partnership between regional firms and global electric vehicle manufacturers is projected to play a pivotal role in the development of the EV ecosystem in Africa.

  • Oando Clean Energy Limited, in April 2023, entered into a strategic alliance with Chinese firm Yutong. As part of the partnership, the two firms have announced to put 12,000 electric buses on Nigerian roads over the next seven years. Furthermore, the firms are also expected to build the relevant infrastructure for these electric buses. This will include the development of a local assembly plant.
  • BasiGo, a Kenyan electric firm, entered into a collaboration with BYD to supply electric buses in the country. As of August 2023, it had delivered 19 BYD K6 electric buses in Nairobi and also received 130 reservations from bus operators who are seeking to make the switch in Nairobi.



Going forward, ConsTrack360 expects more such strategic collaborations in the space, aiding the EV penetration in the region while supporting the growth of the broader market from the short to medium-term perspective.

This report provides a detailed data-centric analysis of the electric vehicle and charging infrastructure market, value and volume metrics covering market opportunities and risks across a range of industry categories. with over 75+ KPIs at the country level, this report provides a comprehensive understanding of electric vehicle market dynamics, market size and forecast, and charging infrastructure market statistics.

This report provides the overall vehicle market of the country by value and volume. Further, it breaks down electric and charging infrastructure market. Electric vehicle further breaks down market opportunity by type of vehicle driven, car segments, class of vehicles, propulsion type, distance range and by components.

The electric vehicle charging infrastructure provides market size data by number of charging stations, and number of charging points. It breaks down market opportunity by type of chargers, by location of charging points, by charging speed, by connection phase, by type of connectivity and by charger connectivity infrastructure.

ConsTrack360’s research methodology is based on industry best practices. Its unbiased analysis leverages a proprietary analytics platform to offer a detailed view of emerging business and investment market opportunities.

This title from ConsTrack360 is a bundled offering, combining the following 4 reports (388 tables and 476 charts):

1. Africa & Middle East Electric Vehicle Business and Investment Opportunities Databook
2. Turkey Electric Vehicle Business and Investment Opportunities Databook
3. Israel Electric Vehicle Business and Investment Opportunities Databook
4. South Africa Electric Vehicle Business and Investment Opportunities Databook


Scope

This report provides in-depth data-centric analysis of Electric Vehicle and Charging Infrastructure Market in through 97 tables and 119 charts. Below is a summary of key market segments:

Overall Vehicle Market Size and Future Growth Dynamics

  • Market size by value
  • Market size by volume




Electric Vehicle Market Size and Forecast

  • Market size by value
  • Market size by volume



Electric Vehicle Market Volume By Drive Segment

  • Front Wheel Drive
  • Rear Wheel Drive
  • All-Wheel Drive



Electric Vehicle Market Value and Volume By Car Segment

  • Passenger Car
  • Commercial Vehicle



Electric Vehicle Market Value and Volume By Passenger Car Segment

  • Small Car
  • Medium Car
  • Crossover Car
  • Large Car
  • SUV



Electric Vehicle Market Value and Volume By Commercial Vehicle Segment

  • Light Duty Vehicle (Class 1-Class 3)
  • Medium Duty Vehicle (Class 4-Class 6)
  • Heavy Duty Vehicle (Class 7-Class 8)



Electric Vehicle Market Value By Vehicle Class

  • Low-Priced
  • Mid-Priced
  • Luxury Class



Electric Vehicle Market Value By Powertrain

  • Parallel Hybrid
  • Series Hybrid
  • Combined Hybrid



Electric Vehicle Market Value By Distance Range

  • Up to 150 Miles
  • 151-300 Miles
  • Above 300 Miles



Electric Vehicle Market Value By Charging Type

  • Normal Charging
  • Super Charging



Electric Vehicle Market Value By Propulsion Type

  • Plug-In Hybrid Electric Vehicles (PHEVs)
  • Battery Electric Vehicles (BEVs)
  • Hybrid Electric Vehicles (HEVs)
  • Fuel Cell Electric Vehicles (FCEVs)



Electric Vehicle Market Value and Volume By Vehicle Type

  • Two Wheelers (e2W)
  • Three-Wheeler (e3W)
  • Four Wheelers (e4W)
  • Electric Buses



Electric Vehicle Market Value By Cities

  • Tier 1 Cities
  • Tier 2 Cities
  • Tier 3 Cities



Electric Vehicle Market Value By Components

  • Battery Cells & Packs
  • On-Board Charge
  • Motor
  • Reducer
  • Power Control Unit
  • Battery Management System
  • Fuel Processor
  • Power Conditioner
  • Air Compressor
  • Humidifier



Electric Vehicle Infrastructure Market Value

Electric Vehicle Infrastructure Market Volume

  • Number of Charging Points
  • Number of Charging Stations



Electric Vehicle - Number of Charging Points By Charging Type

  • Level 1 – 240 (V)
  • Level 2 – 120 (V)
  • Direct Current (DC)



Electric Vehicle - Number of Charging Stations By Charging Type

  • Level 1 – 240 (V)
  • Level 2 – 120 (V)
  • Direct Current (DC)



Electric Vehicle - Number of Charging Points By Location

  • Residential and Destination
  • Streets
  • Workplaces
  • Flew depots



Electric Vehicle - Number of Charging Points By Charging Speed

  • Slow
  • Fast
  • Rapid
  • Ultrarapid



Electric Vehicle - Number of Charging Stations By Charging Speed

  • Slow
  • Fast
  • Rapid
  • Ultrarapid



Electric Vehicle - Number of Charging Points By Vehicle

  • Passenger Cars
  • Buses
  • Trucks
  • Light Commercial Vehicles



Electric Vehicle - Number of Charging Points By Connection Phase

  • Single Phase
  • Three Phase



Electric Vehicle - Number of Charging Points By Infrastructure Type

  • CSS
  • CHAdeMO
  • GB/T
  • Other



Electric Vehicle - Number of Charging Points By Connectivity

  • Smart Charging Station
  • Non-Connected Charging Station




Reasons To Buy

The report provides a comprehensive overview of the Africa & Middle East electric vehicle market and infrastructure, covering the following key aspects:

  • Market size by value and volume: This report provides detailed market size and forecast data for electric vehicles in Africa & Middle East, by value and volume. This data is essential for understanding the current and future potential of the market.
  • Detailed EV market opportunity: This report segments the electric vehicle market by drive segment, car segment, commercial vehicle segment, passenger car segment, commercial vehicle segment, vehicle class, powertrain, distance range, charging type, propulsion type, vehicle type, and cities. This segmentation provides a granular view of the market and helps to identify key growth areas.
  • EV infrastructure: This report also provides a comprehensive overview of the Africa & Middle East electric vehicle infrastructure market, including market size and forecast data, along with detailed market segmentation. This information is essential for businesses that are looking to invest in the Africa & Middle East electric vehicle infrastructure market.
  • Assess risks: Granular segment level information helps in identifying new business opportunities and risks in the Africa & Middle East electric vehicle and infrastructure market.