Middle East and Africa Electric vehicle market is expected to gain market growth in the forecast period of 2020 to 2028. Data Bridge Market Research analyses that the market is growing with an excellent CAGR of 21.5% in the forecast period of 2020 to 2028 and expected to reach USD 80,611.92 million by 2028 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 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.
Electric vehicle offers 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. 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 2028.
Middle East and Africa Electric Vehicle Market By Component Battery Cells & Packs, On-Board Charger, Infotainment System, Others), {(Propulsion Type (Plug-In Hybrid Electric Vehicles (PHEVs), Battery Electric Vehicles (BEVs), Hybrid Electric Vehicles (HEVs), and Fuel Cell Electric Vehicles (FCEVs)}, Charging Station Type (Normal Charging, Super Charging), Class (Mid-Priced, Luxury), Power Train (Parallel Hybrid, Series Hybrid, Combined Hybrid), Vehicle Type (Passenger Cars, Two Wheelers, Commercial Vehicles), Country (Saudi Arabia, U.A.E, Egypt, Israel South Africa, Rest of Middle East and Africa), Market Trends and Forecast to 2028. 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.
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Middle East and Africa Electric vehicle Market Scope and Market Size:
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.
Market Competitors:
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.
Key Pointers Covered in the Middle East and Africa Electric vehicle Market:
Market New Sales Volumes
Market Replacement Sales Volumes
Market Installed Base
Market By Brands
Market Procedure Volumes
Market Product Price Analysis
Market Healthcare Outcomes
Market Cost of Care Analysis
Market Regulatory Framework and Changes
Prices and Reimbursement Analysis
Market Shares in Different Regions
Recent Developments for Market Competitors
Market Upcoming Applications
Market Innovators Study
MAJOR TOC OF THE REPORT:
Chapter One: Middle East and Africa Electric Vehicle Market Overview
Chapter Two: Manufacturers Profiles
Chapter Three: Middle East and Africa Electric Vehicle Market Competition, by Players
Chapter Four: Middle East and Africa Electric Vehicle Market Size by Regions
Chapter Five: Middle East and Africa Electric Vehicle Market Revenue by Countries
Chapter Six: Middle East and Africa Electric Vehicle Market Revenue by Type
Chapter Seven: Middle East and Africa Electric Vehicle Market Revenue by Application
Chapter Eight: Middle East and Africa Electric Vehicle Market Revenue by Industries
Chapter Nine: Middle East and Africa Electric Vehicle Market Revenue by Deployment Model
Chapter Ten: Middle East and Africa Electric Vehicle Market Revenue by End User
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Laser Capture Middle East and Africa Electric vehicle Market report aids in understanding the crucial product segments and their perspective.
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The key questions answered in this report:
What will be the Market Size and Growth Rate in the forecast year?
What is the Key Factors driving Laser Capture Middle East and Africa Electric vehicle Market?
What are the Risks and Challenges in front of the market?
Who are the Key Vendors in Middle East and Africa Electric vehicle Market?
What are the Trending Factors influencing the market shares?
What is the Key Outcomes of Porter’s five forces model?
Which are the Global Opportunities for expanding the Middle East and Africa Electric vehicle Market?
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