The Middle East & Africa region is to remain the second least contributing region globally followed by Latin America. Known for its oil and gas resources, the electric vehicle market is to have a hard time in the region. According to the recent publication titled,’ Middle East & Africa Electric Vehicle Market Outlook, 2025‘ by Bonafide Research, the market was valued at USD 0.23 Billion in the year 2014, is expected to cross a market of USD 10 Billion by the end of the forecasted period.
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Electric vehicles are increasingly visible on roads, with a sharp drop in the cost of EVs in the past years that has encouraged increased adoption in the region. The commercial vehicle segment accounted for USD 0.14 Billion in 2019, while the passenger segment is likely to cross a market of 180 Thousand Units by the end of the forecasted period. With low fuel prices and a passion for speed, luxurious electric automobile drivers have shown a slow shift towards the market. However, the adoption of electric cars will enter the fast lane in the Gulf, especially in tech-savvy urban hubs like Dubai. In particular, Saudi Arabia and UAE are becoming early adopters of electric vehicles in the region. In addition, even though it is still cheaper in both countries to drive an internal-combustion engine vehicle than EVs, the efforts of these governments are encouraging. Unlike the major global trend, the region is to grow collectively in the year 2020, despite of Covid pandemic reaching to a market of 38.48 Thousand Units. However, considered individually the major countries show a considerable decline during the same.
The proximity to and resultant cheapness of vast reserves of petrol below its desert sands is a powerful disincentive to make the region switch away from fossil fuels. However, the region is not just promoting electric cars but has also launched e-scooters to reduce congestion and pollution in cities. A major hurdle in the growth of the electric vehicle market of the region is the insufficient number of charging stations in the region. Gas stations are located every few miles in urban and suburban areas; however, public infrastructures for EVs are only in large metropolitan areas. The dominance of the PHEV segment is likely to continue over the period with an expectation of the market to cross over USD 6.50 Billion by the end of 2025, while in the year 2019 the BEV segment was valued at USD 0.62 Billion.
Dubai gained the highest market share as compared to others in the region owing to the better electric vehicle supporting infrastructure. Authorities and private companies are working towards improving the charging technology that would reduce the charging time for electric vehicles. As part of Saudi Arabia’s Fiscal Balance Program 2024, the Saudi Cabinet has noted incremental price increases for gasoline and diesel. Inclusive of the VAT, standard gasoline prices increased by 83% in the year while premium gasoline prices increased by 127%. Some key players in the Middle East & Africa electric vehicle market include Tesla, Inc., Hyundai Motor Company, Volkswagen Motor Company LTM, Bayerische Motoren Werke AG, and others.
Companies Mentioned:
Tesla, BMW Group, Nissan Motor Corporation, Toyota Motor Corporation, Volkswagen AG, General Motors, Daimler AG, Energica Motor Company BYD Company Motors, Ford Motor
CONSIDERED IN THE REPORT
• Geography: Middle East & Africa
• Base year: 2019
• Historical year: 2014
• Forecasted year: 2025
REGIONS COVERED:
• Middle Eat & Africa
• UAE
• Saudi Arabia
• Qatar
• South Africa
The report also covers the major countries in the region with a clear comparison of the past performance and the estimated growth of the market in the forecasted period. In addition, the market is studied in detail with respect to the different types of the excavators and its purposes regionally.
ASPECTS COVERED IN THE REPORT
• Market Size By Value for the time period (2014-2025F)
• Market Size By Volume for the time period (2014-2025F)
• Market Share by Vehicle Type (Passenger & Light Commercial)
• Market Share by Propulsion Type (BEV & PHEV)
• Market Share by Sales Channel (2020 & 2026F)
• Market Share by Charging Type ( Normal & Fast)
• Market Share by Country
Key Points Covered in this report:
• Market Evolution through value and volume CAGRs at different verticals
• Detailed discussion on the market dynamics that influence the market and the possible opportunities
• In sights on the market leader’s performance including market shares, strategies, products, financial positions, etc
This report would help you answer the following questions:
1. What is the market size and forecast of the Middle East & Africa Electric Vehicle Market?
2. What are the inhibiting factors and impact of COVID-19 shaping the Middle East & Africa Electric Vehicle Market during the forecast period?
3. Which region outstands in the Middle East & Africa Electric Vehicle Market?
4. Which are the segments to invest in over the forecast period in the Middle East & Africa Electric Vehicle Market?
5. What is the competitive strategic window for opportunities in the Middle East & Africa Electric Vehicle Market?
6. What are the technology trends and regulatory frameworks in the Middle East & Africa Electric Vehicle Market?
7. What are the major company in the Middle East & Africa Electric Vehicle Market?
To Access Complete Report: https://www.bonafideresearch.com/product/210159996/Middle-East-Africa-Electric-Vehicle-Market-Outlook-2025
TABLE OF CONTENTS
1 Executive Summary
2 Report Methodology
3 Global Electric Vehicle Market Outlook
3.1 Market Size
3.1.1 By Value
3.1.2 By Volume
3.2 Market Share
3.2.1 By Vehicle Type
3.2.2 By Propulsion Type (BEV & PHEV)
3.2.3 By Charging Type
3.2.4 By Vehicle Class
3.2.5 By Region
3.2.6 By Country
3.2.7 By Company
3.3 Global BEV Market Outlook
3.4 Global PHEV Market Outlook
4 Middle East and Africa Electric Vehicle Market Outlook
4.1 Market Size
4.1.1 By Value
4.1.2 By Volume
4.2 Market Share
4.2.1 By Vehicle Type
4.2.2 By Propulsion Type (BEV & PHEV)
4.2.3 By Charging Type
4.2.4 By Country
4.3 Middle East and Africa BEV & PHEV Market Outlook
4.3.1 By Value
4.3.2 By Volume
4.4 UAE Market Electric Vehicle Market Outlook
4.4.1 Market Size
4.4.2 Market Share
4.5 Saudi Arabia Market Electric Vehicle Market Outlook
4.5.1 Market Size
4.5.2 Market Share
4.6 Qatar Market Electric Vehicle Market Outlook
4.6.1 Market Size
4.6.2 Market Share
4.7 South Africa Market Electric Vehicle Market Outlook
4.7.1 Market Size
4.7.2 Market Share
5 Market Dynamics
5.1 Key Drivers
5.2 Key Challenges
6 Market Trends and Developments
6.1 Electrification in Heavy Commercial Vehicle Segment
6.2 E-Car Rental Programs
6.3 Income Generation across the Life Cycle of a vehicle
6.4 Omnichannel Approach
7 Competitive Landscape
7.1 Porter’s Five Forces
8 Company Profile
8.1 Beijing Automobiles Industry Holding Corporative limited
8.2 Bentley Motors Limited
8.3 BMW Group
8.4 BYD Company Motors
8.5 Daimler AG
8.6 Ford Motors
8.7 General Motors
8.8 Hyundai
8.9 Nissan Motor
8.10 SAIC
8.11 Tesla
8.12 Toyota Motor Corporation
8.13 Volkswagen
8.14 Zhejiang Geely
9 Strategic Recommendations
10 Disclaimer
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