The electric vehicle market in the Africa and Middle East is expected to grow by 17.6% on an annual basis to reach US$3.3 billion in 2024.
The electric vehicle market is expected to record strong growth in the African and Middle East region over the medium term. In the Middle East, especially, several global firms are seeking to expand their presence in 2024. Nio, for instance, has announced plans to expand to the Middle East in 2024. Lucid Group, the US-based electric vehicle manufacturer, announced the launch of its second retail space in the Emirati nation in June 2024.
In Africa, several innovative startups have emerged in the segment. These startups are raising funding rounds to scale up production and drive adoption. Roam, the Kenyan electric vehicle startup, announced that the firm had raised US$24 million as part of its Series A funding round in February 2024. Overall, the publisher maintains a positive growth outlook for the electric vehicle industry in Africa and the Middle East market over the next three to four years.
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 2024-2028. The electric vehicle market in the region will increase from US$2.8 billion in 2023 to reach US$7.0 billion 2028.
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. Market opportunity for the electric vehicle segment has been further broken down by type of vehicle driven, car segments, class of vehicles, propulsion type, distance range and by components.
The electric vehicle charging infrastructure module provides market size data by number of charging stations, and number of charging points. Market opportunity is broken down by type of chargers, by location of charging points, by charging speed, by connection phase, by type of connectivity and by charger connectivity infrastructure.
The 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.
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
The electric vehicle market is expected to record strong growth in the African and Middle East region over the medium term. In the Middle East, especially, several global firms are seeking to expand their presence in 2024. Nio, for instance, has announced plans to expand to the Middle East in 2024. Lucid Group, the US-based electric vehicle manufacturer, announced the launch of its second retail space in the Emirati nation in June 2024.
In Africa, several innovative startups have emerged in the segment. These startups are raising funding rounds to scale up production and drive adoption. Roam, the Kenyan electric vehicle startup, announced that the firm had raised US$24 million as part of its Series A funding round in February 2024. Overall, the publisher maintains a positive growth outlook for the electric vehicle industry in Africa and the Middle East market over the next three to four years.
Global firms, in large numbers, are entering the Middle East electric vehicle market in 2024
Nio, the Chinese electric vehicle firm, has announced plans to expand to the Middle East in 2024. The firm's foray into the Middle Eastern region comes at a time when other rival companies are also making a global push. BYD, for instance, has also launched its product offerings for customers in the Emirates. The firm, in November 2023, revealed that it had opened a showroom in Dubai Festival City as part of its collaboration with Al-Futtaim Electric Mobility Company.- Lucid Group, the US-based electric vehicle manufacturer, announced the launch of its second retail space in the Emirati nation in June 2024. The firm already operates a retail location in Saudi Arabia.
- Planet Electric, the Indian electric vehicle startup, also revealed that the firm is eyeing the Middle East market in 2024. It is, however, focusing on the commercial electric vehicle mobility segment.
African electric vehicle startups are raising funding rounds to scale up production in 2024
Roam, the Kenyan electric vehicle startup announced that the firm had raised US$24 million as part of its Series A funding round in February 2024. The Series A round, which was led by Africa-focused climate tech VC Fund Equator, also includes a US$10 million debt commitment from the US International Development Finance Corporation.- Roam plans to use the capital infusion to scale up the production of electric buses and motorcycles. The firm, notably, is targeting to increase the production rate to 1,000 motorcycles a month. Roam has developed a hybrid solution for its motorcycle clientele. This means consumers can charge the batteries at home or swap them at stations. For electric buses, Roam currently has the capacity to assemble 40 Move buses a month. Roam is also planning to invest part of the funding into research and tooling, to deepen the vertical integration of its products.
The Public Investment Fund sets up a new firm to enhance the electric vehicle and automotive industry in the Kingdom
The Public Investment Fund, in October 2023, announced the launch of a new firm Tasaru Mobility Investments. The new firm is part of the strategy to drive EV manufacturing in the Kingdom while developing local supply chain capabilities for the automotive and mobility industry.- The new focuses on research and development, the adoption of advanced technology, and sustainable opportunities in the automotive sector. Its first project is a joint venture with Zamil Group Real Estate Company, Abdullah Ibrahim Alkhorayef Sons Company, and Dar Al-Himmah Projects Company to create an automotive logistics hub in King Abdullah Economic City.
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 2024-2028. The electric vehicle market in the region will increase from US$2.8 billion in 2023 to reach US$7.0 billion 2028.
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. Market opportunity for the electric vehicle segment has been further broken down by type of vehicle driven, car segments, class of vehicles, propulsion type, distance range and by components.
The electric vehicle charging infrastructure module provides market size data by number of charging stations, and number of charging points. Market opportunity is broken down by type of chargers, by location of charging points, by charging speed, by connection phase, by type of connectivity and by charger connectivity infrastructure.
The 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 is a bundled offering, combining the following 4 reports (388 tables and 476 charts):
1. Africa & Middle East Electric Vehicle Business and Investment Opportunities Databook2. 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 in Africa and Middle East, 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.
Table of Contents
This title is a bundled offering, combining the following 4 reports (388 tables and 476 charts):
1. About this Report
2. Overall Vehicle Market Size and Future Growth Dynamics
3. Electric Vehicle Market Size and Forecast
4. Electric Vehicle Market Size and Forecast by Vehicle Drive Type Segment
5. Electric Vehicle Market Size and Forecast by Vehicle Type Segment
6. Electric Vehicle Type Market Size and Forecast by Passenger Car Segment
7. Electric Vehicle Type Market Size and Forecast by Commercial Vehicle Segment
8. Electric Vehicle Market Size and Forecast by Vehicle Class Segment
9. Electric Vehicle Market Size and Forecast by Powertrain Segment
10. Electric Vehicle Market Size and Forecast by Distance Range Segment
11. Electric Vehicle Market Size and Forecast by Charging Type Segment
12. Electric Vehicle Market Size and Forecast by Propulsion Type Segment
13. Electric Vehicle Penetration Market Size and Forecast by Segment
14. Electric Vehicle Market Size and Forecast by City Type
15. Electric Vehicle Market Size and Forecast by Components
16. Electric Vehicle Infrastructure Market Size and Forecast
17. Electric Vehicle Infrastructure - Number of charging stations by charging type, 2019-2028
18. Electric Vehicle Infrastructure - Number of charging points by charging type, 2019-2028
19. Electric Vehicle Infrastructure - Number of charging points by location, 2019-2028
20. Electric Vehicle Infrastructure - Number of charging points by charging speed, 2019-2028
21. Electric Vehicle Infrastructure - Number of charging stations by charging speed, 2019-2028
22. Electric Vehicle Infrastructure - Number of charging points by vehicle type, 2019-2028
23. Electric Vehicle Infrastructure - Number of charging points by connection phase, 2019-2028
24. Electric Vehicle Infrastructure - Number of charging points by charging infrastructure type, 2019-2028
25. Electric Vehicle Infrastructure - Number of charging points by connectivity, 2019-2028
26. Further Reading
This bundled offering has 119 figures across 4 regional and country reports. All regional and country reports will have the following figures:
This bundled offering has 97 tables across 4 regional and country reports. All regional and country reports will have the following tables: