The research and analysis conducted in Middle East And Africa Electric Vehicle Report helps clients to predict investment in an emerging market, expansion of market share or success of a new product with the help of global market research analysis. This report has been designed in such a way that it provides very evident understanding of the business environment and Middle East And Africa Electric Vehicle industry. Nevertheless, this global market research report unravels many business problems very quickly and easily. Due to high demand and the value of market research for the success of different sectors, Middle East And Africa Electric Vehicle Market report is provided that covers many work areas.
Market expectations for likely development openings have been mentioned clearly in this world class Middle East And Africa Electric Vehicle Market research report. Competition analysis has been taken into account while preparing this report. A market analysis has turned into a vital piece of every business to settle on smart choices in the organizations which have been viably carried by experienced analysts. This market report provides best solutions for strategy development and implementation depending on client’s needs to extract tangible results. Businesses can bring about an absolute knowhow of general market conditions and tendencies with the information and data covered in this Middle East And Africa Electric Vehicle Market report.
Electric vehicle market is expected to gain market growth in the forecast period of 2020 to 2027. Data Bridge Market Research analyses that the market is growing with an excellent CAGR of 21.5% in the forecast period of 2020 to 2027and expected to reach USD 80,611.92 million by 2027 from USD 17,131.98 million in 2019. Gulf countries initiatives to promote electric vehicles and strong investment from the vehicle manufacturer are the factors for the market growth.
Electric vehicle offer various benefits over conventional fuel based vehicles such as low operational cost, zero carbon emission and others as they source energy from electricity. Consumer’s changed attitude towards electric vehicles is augmenting the market growth as they are more concerned over environmental pollution.
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Increased number of vehicle consumption from U.A.E. as well as increased investment in by automaker for gulf region is driving the growth of market. For instance, General Motors will be introducing new product line in U.A.E as they registered sale of 100 of Bolt electric vehicle since 2018. The high per capita income opens a huge opportunity for luxurious electric vehicle segment. For instance, in 2018, GDP of U.A.E was USD 43,000 while for Kuwait it was USD 34,244 which is much preferable for electric vehicles market to offer high priced electric vehicle. Favourable policies by government for electric vehicles adoption under 2020 carbon emissions reduction target will further create new opportunities that will impact this electric vehicle market growth in the forecast period to 2027.
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. To understand the analysis and the market scenario contact us for an Analyst Brief, our team will help you create a revenue impact solution to achieve your desired goal.
Electric vehicle market is segmented on the basis of component, propulsion type, charging station type, class, power train, and vehicle type. The growth among segments helps you analyse niche pockets of growth and strategies to approach the market and determine your core application areas and the difference in your target markets.
Based on component, the market is segmented into battery cells & packs, on-board charger, infotainment system and others. Battery is important factor in electric vehicle as it is main source of energy which defines the performance of electric vehicle. The rising demand of environmental friendly vehicle fleet has tremendously increased the production of battery cell and packs. Owing to this factor major battery manufacturers such as Panasonic and LG Gem have taken initiatives to expand their manufacturing plant that help them to accelerate production of electric cars in the Middle East region. It has been observed that battery technology company named as Saft has planned to bring its Flex’ion li-ion battery systems for Middle East and Africa. The utilization of such battery also contributes in overall reduction in the weight of electric vehicle.
Based on propulsion type, the market is segmented into plug-in hybrid electric vehicles (PHEVs), battery electric vehicles (BEVS), hybrid electric vehicles (HEVs) and fuel cell electric vehicles (FCEVs). Rising government initiative towards promoting electric vehicle has accelerated the demand of battery electric vehicle in Middle East countries. For instance, UAE and Dubai government have started program for enforcing the consumer to shift from conventional vehicle to electric vehicle.
The advantages of battery electric vehicles over other electric vehicles such as low zero carbon emissions, no noise, light weight, attractive vehicle models has resulted in BEV as the dominating electric vehicle segment. The noise-free & carbon free ride benefit of BEV specifically attracted the major base of customer from Gulf nations.
Based on charging station type, the market is segmented into normal charging and super charging. The strong infrastructure of gulf regions to provide enhanced utilities for consumers has resulted in increased house based charging points. The house hold charging points are based on the normal charging technology which has made the normal charging segment a dominating one in the market.
Based on class, the market is segmented into mid-priced and luxury, Saudi Arabia being the dominating country for electric vehicles, companies here are focusing on manufacturing mid-priced electric vehicle which is in line with disposable income for the countries in the region. For instance in October, 2019, according to General Motors they have witnessed almost half of its regional sales in Saudi Arabia.
Based on power train, the market is segmented into parallel hybrid, series hybrid and combined hybrid. Series hybrid power train segment is dominating the market as it offers highest efficiency while driving at city road or in traffic conditions. The series hybrid systems provide better fuel efficiency and emission reductions comparing to parallel hybrid vehicles.
Middle East and Africa electric vehicle market is also segmented on the basis of vehicle type. The electric vehicle market, by vehicle type, is segmented into passenger cars, two wheelers and commercial vehicles. The continuous improvement in the infrastructure has enhance the living standard of U.A.E and government program green development has accelerate the demand of passenger car in the Middle East countries.
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Electric vehicle market is analysed and market size information is provided by country, component, propulsion type, charging station type, class, power train, and vehicle type as referenced above.
The countries covered in the electric vehicle market report are Saudi Arabia, U.A.E, Egypt, Israel South Africa, Rest of Middle East and Africa.
Saudi Arabia dominates the Middle East and Africa electric vehicle market due to strong infrastructure base as well as increased consumption of electric vehicles, while the U.A.E. is expected to grow with the highest growth rate in the forecast period of 2020 to 2027 because of rising awareness towards environmental pollution. In addition, Dubai is planning to have 42,000 EVs on the streets by year 2030 under carbon emission reduction target.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as new sales, replacement sales, country demographics, regulatory acts and import-export tariffs are some of the major pointers used to forecast the market scenario for individual countries. Also, presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of sales channels are considered while providing forecast analysis of the country data.
Strong Spending Capacity of Gulf Region Consumers and Wide Range of Luxurious Electric Vehicles
Middle East and Africa electric vehicle market also provides you with detailed market analysis for every country growth in automotive industry with electric vehicle sales, components sales, impact of technological development in batteries and changes in regulatory scenarios with their support for the electric vehicle market. The data is available for historic period 2010 to 2018.
Electric vehicle market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, Middle East and Africa presence, production sites and facilities, company strengths and weaknesses, product launch, product trials pipelines, concept cars, product approvals, patents, product width and breadth, application dominance, technology lifeline curve. The above data points provided are only related to the company’s focus related to Middle East and Africa electric vehicle market.
The major players covered in the report are TOYOTA MOTOR CORPORATION, Nissan Motor Co., LTD., Volkswagen AG, Ford Motor Company, Groupe PSA, among other players in Middle East and Africa. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.
In October 2019, Volkswagen with Siemens signed new agreement to start electric mobility feasibility project. This new project will be carried out at Africa region at Rwanda location. With this agreement the company will increase their presence in Africa market
Partnership, joint ventures and other strategies enhances the company market share with increased coverage and presence. It also provides the benefit for organisation to improve their offering for electric vehicles through expanded model range.
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The Middle East And Africa Electric Vehicle market competitive landscape provides details by 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, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to Middle East And Africa Electric Vehicle market.
Prominent players in the market are predicted to face tough competition from the new entrants. However, some of the key players are targeting to acquire the startup companies in order to maintain their dominance in the global market. For a detailed analysis of key companies, their strengths, weaknesses, threats, and opportunities are measured in the report by using industry-standard tools such as the SWOT analysis. Regional coverage of key companies is covered in the report to measure their dominance. Key manufacturers of Middle East And Africa Electric Vehicle market are focusing on introducing new products to meet the needs of the patrons. The feasibility of new products is also measured by using industry-standard tools.
Key companies are increasing their investments in research and development activities for the discovery of new products. There has also been a rise in the government funding for the introduction of new Middle East And Africa Electric Vehicle market. These factors have benefited the growth of the global market for Middle East And Africa Electric Vehicle. Going forward, key companies are predicted to benefit from the new product launches and the adoption of technological advancements. Technical advancements have benefited many industries and the global industry is not an exception.
Reasons to Purchase this Report:
- Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and policy aspects
- Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the market.
- Market value USD Million and volume Units Million data for each segment and sub-segment
- Competitive landscape involving the market share of major players, along with the new projects and strategies adopted by players in the past five years
- Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
(**NOTE: Our analysts monitoring the situation across the globe explains that the market will generate remunerative prospects for producers post COVID-19 crisis. The report aims to provide an additional illustration of the latest scenario, economic slowdown, and COVID-19 impact on the overall industry.)
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Table of Content:
PART 01: EXECUTIVE SUMMARY
PART 02: SCOPE OF THE REPORT
PART 03: RESEARCH METHODOLOGY
PART 04: INTRODUCTION
- Market outline
PART 05: MARKET LANDSCAPE
- Market ecosystem
- Market characteristics
- Market segmentation analysis
PART 06: MARKET SIZING
- Market definition
- Market sizing 2021
- Market size and forecast
PART 07: FIVE FORCES ANALYSIS
- Bargaining power of buyers
- Bargaining power of suppliers
- Threat of new entrants
- Threat of substitutes
- Threat of rivalry
- Market condition
PART 08: MARKET SEGMENTATION BY PRODUCT
- Global Middle East And Africa Electric Vehicle market by product
- Comparison by product
- Market opportunity by product
PART 09: MARKET SEGMENTATION BY DISTRIBUTION CHANNEL
- Global Middle East And Africa Electric Vehicle market by distribution channel
- Comparison by distribution channel
- Global Middle East And Africa Electric Vehicle market by offline distribution channel
- Global Middle East And Africa Electric Vehicle market by online distribution channel
- Market opportunity by distribution channel
PART 10: CUSTOMER LANDSCAPE
PART 11: MARKET SEGMENTATION BY END-USER
- Global Middle East And Africa Electric Vehicle market by end-user
- Comparison by end-user
PART 12: REGIONAL LANDSCAPE
- Global licensed Middle East And Africa Electric Vehicle market by geography
- Regional comparison
- Licensed Middle East And Africa Electric Vehicle market in Americas
- Licensed Middle East And Africa Electric Vehicle market in EMEA
- Licensed Middle East And Africa Electric Vehicle market in APAC
- Market opportunity
PART 13: DECISION FRAMEWORK
PART 14: DRIVERS AND CHALLENGES
- Market drivers
- Market challenges
PART 15: MARKET TRENDS
PART 16: VENDOR LANDSCAPE
- Landscape disruption
- Competitive scenario
PART 17: VENDOR ANALYSIS
- Vendors covered
- Vendor classification
- Market positioning of vendors
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