Middle East & Africa Low-Speed Electric Vehicle Market Forecast to 2030 - Regional Analysis - by Product, End User, and Vehicle Type

The Middle East & Africa low-speed electric vehicle market was valued at US$ 140.99 million in 2022 and is expected to reach US$ 188.82 million by 2030; it is estimated to register a CAGR of 3.7% from 2022 to 2030.

Advent of Lithium-ion Phosphate and Sodium-ion Batteries for Electric Vehicles Fuels Middle East & Africa Low-Speed Electric Vehicle Market

Lithium-ion batteries are commonly used in the production of electric vehicles. However, the rising concern about the shortage of lithium is pushing the industry towards using lithium-ion phosphate and sodium-ion batteries. Lithium-ion phosphate is gaining momentum as an essential electric vehicle battery material in the automotive industry, with a prime focus on producing affordable electric vehicles. In 2023, Ford collaborated with CATL to set up a 35 GWh (gigawatt-hour) lithium-ion phosphate cell manufacturing factory in Michigan. In addition, sodium-ion batteries are equipped with faster charging times and can register a longer lifespan than lithium-ion batteries. In addition, sodium-ion technology has been gaining popularity across the region, with few companies working towards commercializing it for electric vehicle applications. Thus, the advent of lithium-ion phosphate and sodium-ion batteries for electric vehicles is likely to fuel the low-speed electric vehicle market during the forecast period.

Middle East & Africa Low-Speed Electric Vehicle Market Overview

The growing concern toward mitigating the environmental pollution caused by fossil fuel-driven vehicles is one of the major driving factors for the low-speed electric vehicles market in the Middle East & Africa. The UAE, Saudi Arabia, and South Africa are among the key countries in the Middle East & Africa for the low-speed electric vehicle market. The net-zero emission target of different countries is also boosting the adoption of electric vehicles. The increasing government focus on the development of electric vehicle infrastructure in response to the growing number of electric vehicles charging stations, battery swapping stations, and proper battery maintenance and repair stations are factors primarily driving the low-speed electric vehicle market in the Middle East & Africa. Government incentives and support policies to boost the adoption of electric vehicles are further influencing the development of low-speed electric vehicles in the Middle East & Africa. The urge for a sustainable and greener approach toward lowering the level of carbon emissions is boosting the growth of the low-speed electric vehicle market.

Middle East & Africa Low-Speed Electric Vehicle Market Segmentation

The Middle East & Africa low-speed electric vehicle market is bifurcated based on product, end user, vehicle type, and country. Based on product, the Middle East & Africa low-speed electric vehicle market is bifurcated into passenger vehicle and utility vehicle. The passenger vehicle segment held a larger market share in 2022.

In terms of end user, the Middle East & Africa low-speed electric vehicle market is segmented into golf courses, hotels & resorts, airports, residential & commercial, premises, and others. The golf courses segment held the largest market share in 2022.

By vehicle type, the Middle East & Africa low-speed electric vehicle market is segmented into golf carts, commercial turf utility vehicles, industrial utility vehicles, and personal mobility vehicles. The golf carts segment held the largest market share in 2022.

Based on country, the Middle East & Africa low-speed electric vehicle market is segmented into South Africa, Saudi Arabia, the UAE, and the Rest of Middle East & Africa. Saudi Arabia dominated the Middle East & Africa low-speed electric vehicle market share in 2022.

Drake Golf Carts CC, Yamaha Motor Co Ltd, Green Scooter (Pty) Ltd, Xiamen Dalle Electric Car Co Ltd, Renault SA, Deere & Co, Mobi G Industries (Pty) Ltd, National Golf Carts (Pty) Ltd, Tektem Makina Sanayi ve Ticaret, Musoshi, and Golf International Turizm Insaat Tarim Ve Ticaret Ltd Sirketi are some of the leading companies operating in the Middle East & Africa low-speed electric vehicle market.