
Africa Electric Three-Wheeler Market Assessment, By Battery Type [Lead Acid, Lithium-Ion, NiMH], By Power Type [Upto 1000W, 1000W-1500W, Above 1500W], By Application [Commercial, Personal], By Region, Opportunities, and Forecast, 2016-2030F
Description
Africa Electric Three-Wheeler Market Assessment, By Battery Type [Lead Acid, Lithium-Ion, NiMH], By Power Type [Upto 1000W, 1000W-1500W, Above 1500W], By Application [Commercial, Personal], By Region, Opportunities, and Forecast, 2016-2030F
Africa Electric Three-Wheeler Market is anticipated to grow at a faster CAGR of 12.54% during the forecast period between 2023 and 2030. Dominated by the Asia Pacific region, the global electric three-wheeler market size was valued at USD 751.94 million in 2021 and will register a CAGR of 8.23% during the forecast period till 2030. Due to the fact that electric three-wheelers produce fewer emissions than any other type of fuel-based vehicle, there is a rising demand for them in the African nations. Governments in various African nations are increasingly implementing emission-free public transportation networks in an effort to promote low-emission vehicles. As a result, the sales of three-wheelers are rising, which is having a significantly positive impact on the Africa Electric Three-Wheeler Market.
Electric Three-Wheeler – An Eco-Friendly and Efficient Mobility Solution
The pollution rate of electric three-wheelers is practically negligible, making them a viable alternative to ICE vehicles. Since electric three-wheelers are more environment friendly and have lower long-term operating costs than vehicles with fuel-based emissions, government in Africa has begun to replace ICE vehicles in their public transit systems including vehicles like three wheelers that provide last mile reach. A further factor driving the market expansion is the three-wheeler owners' preference for electric three-wheelers for shorter commutes due to the growing costs of gasoline, CNG, and diesel.
Rapid Growth of Electric Three-Wheeler in E-commerce Market
Due to the rise in e-commerce activities, such as online food ordering services and grocery sales in nations like Nigeria, South Africa, etc., have increased the demand for electric three-wheelers for delivery purposes for cost effective commute due to which the demand for electric three wheelers is expanding quickly in many countries throughout Africa. As many different electric three-wheeler brands are releasing their models in this segment, the market will grow rapidly and achieve deeper market penetration for electric three-wheelers. Such trends are boosting imports and sales of the electric three-wheelers in the African region.
Impact of COVID-19 on Africa Electric Three-Wheeler Market
Due to the lockdown that resulted due to the strict social distancing norms implemented by the government to curtail the spread of COVID-19 pandemic, most of the global production facilities of automotive firms that produced electric three-wheelers were shut down. This had a negative effect on the automotive industry particularly electric three wheelers. After the adverse impact of COVID-19 on business operations, the majority of electric three-wheeler manufacturers have reopened their factories, which will help meet the demand that is escalating quickly in the African countries. In order to increase sales of electric three-wheelers in Africa, many automakers have made the decision to introduce new models in 2022 and beyond.
Post COVID-19, Africa’s economy is recovering as the supply chain concerns get resolved and import trade in automobile and transportation industry resumed almost at the pre-pandemic levels. Many manufacturers are showing interest in export of electric three wheelers to the African region as there is demand for urban mobility and also improving economic conditions after COVID-19. Government is also taking initiative towards green mobility after COVID-19 in African regions specially in countries such as South Africa and Egypt.
Impact of Russia-Ukraine War on Africa Electric Three-Wheeler Market
Russia Ukraine war has disrupted Africa’s promising recovery from the pandemic by temporarily impacting trade flow of goods and raw material for automobile and EV industry specifically for batteries. As a result, supply disruption affected the growth of electric three-wheeler market leading to lower sales. Similarly, surge in prices of components essential for manufacturing of electric three wheelers was witnessed which led to a decline in the volume of imports of electric three wheelers from Africa.
Key Player Landscape and Outlook
Strategic long-term alliances and contracts are expected to play a vital role in maximising the revenue share of commercial companies. Additionally, because of the rising demand, players are emerging from established market. Yamaha Motor Company Limited, Mazi Mobility Company, Lifan Technology (Group) Co., Ltd., ATUL Auto Limited, Mahindra Electric Mobility Limited, Terra Motors Corporation, Piaggio & C. SpA are some key players dominating Electric three-wheeler market in Africa.
Why You Should Buy This Report
Market Xcel reports are based on qualitative and quantitative data collected through ‘on-ground’ primary research interventions. Based on our in-depth research, our reports can also provide granular city/state level market size data. The report includes deeper actionable insights provided by the industry experts & Key Opinion Leaders thus offering cutting-edge business solutions. The forecast data included in the report is based on ‘Drivers based forecasting’ technique ensuring accurate decoding of the future.
Africa Electric Three-Wheeler Market is anticipated to grow at a faster CAGR of 12.54% during the forecast period between 2023 and 2030. Dominated by the Asia Pacific region, the global electric three-wheeler market size was valued at USD 751.94 million in 2021 and will register a CAGR of 8.23% during the forecast period till 2030. Due to the fact that electric three-wheelers produce fewer emissions than any other type of fuel-based vehicle, there is a rising demand for them in the African nations. Governments in various African nations are increasingly implementing emission-free public transportation networks in an effort to promote low-emission vehicles. As a result, the sales of three-wheelers are rising, which is having a significantly positive impact on the Africa Electric Three-Wheeler Market.
Electric Three-Wheeler – An Eco-Friendly and Efficient Mobility Solution
The pollution rate of electric three-wheelers is practically negligible, making them a viable alternative to ICE vehicles. Since electric three-wheelers are more environment friendly and have lower long-term operating costs than vehicles with fuel-based emissions, government in Africa has begun to replace ICE vehicles in their public transit systems including vehicles like three wheelers that provide last mile reach. A further factor driving the market expansion is the three-wheeler owners' preference for electric three-wheelers for shorter commutes due to the growing costs of gasoline, CNG, and diesel.
Rapid Growth of Electric Three-Wheeler in E-commerce Market
Due to the rise in e-commerce activities, such as online food ordering services and grocery sales in nations like Nigeria, South Africa, etc., have increased the demand for electric three-wheelers for delivery purposes for cost effective commute due to which the demand for electric three wheelers is expanding quickly in many countries throughout Africa. As many different electric three-wheeler brands are releasing their models in this segment, the market will grow rapidly and achieve deeper market penetration for electric three-wheelers. Such trends are boosting imports and sales of the electric three-wheelers in the African region.
Impact of COVID-19 on Africa Electric Three-Wheeler Market
Due to the lockdown that resulted due to the strict social distancing norms implemented by the government to curtail the spread of COVID-19 pandemic, most of the global production facilities of automotive firms that produced electric three-wheelers were shut down. This had a negative effect on the automotive industry particularly electric three wheelers. After the adverse impact of COVID-19 on business operations, the majority of electric three-wheeler manufacturers have reopened their factories, which will help meet the demand that is escalating quickly in the African countries. In order to increase sales of electric three-wheelers in Africa, many automakers have made the decision to introduce new models in 2022 and beyond.
Post COVID-19, Africa’s economy is recovering as the supply chain concerns get resolved and import trade in automobile and transportation industry resumed almost at the pre-pandemic levels. Many manufacturers are showing interest in export of electric three wheelers to the African region as there is demand for urban mobility and also improving economic conditions after COVID-19. Government is also taking initiative towards green mobility after COVID-19 in African regions specially in countries such as South Africa and Egypt.
Impact of Russia-Ukraine War on Africa Electric Three-Wheeler Market
Russia Ukraine war has disrupted Africa’s promising recovery from the pandemic by temporarily impacting trade flow of goods and raw material for automobile and EV industry specifically for batteries. As a result, supply disruption affected the growth of electric three-wheeler market leading to lower sales. Similarly, surge in prices of components essential for manufacturing of electric three wheelers was witnessed which led to a decline in the volume of imports of electric three wheelers from Africa.
Key Player Landscape and Outlook
Strategic long-term alliances and contracts are expected to play a vital role in maximising the revenue share of commercial companies. Additionally, because of the rising demand, players are emerging from established market. Yamaha Motor Company Limited, Mazi Mobility Company, Lifan Technology (Group) Co., Ltd., ATUL Auto Limited, Mahindra Electric Mobility Limited, Terra Motors Corporation, Piaggio & C. SpA are some key players dominating Electric three-wheeler market in Africa.
Why You Should Buy This Report
Market Xcel reports are based on qualitative and quantitative data collected through ‘on-ground’ primary research interventions. Based on our in-depth research, our reports can also provide granular city/state level market size data. The report includes deeper actionable insights provided by the industry experts & Key Opinion Leaders thus offering cutting-edge business solutions. The forecast data included in the report is based on ‘Drivers based forecasting’ technique ensuring accurate decoding of the future.
Table of Contents
111 Pages
- 1. Research Methodology
- 2. Product Overview
- 3. Impact of COVID-19 on Africa Electric Three-Wheeler Market
- 4. Impact of Russia-Ukraine War on Africa Electric Three-Wheeler Market
- 5. Executive Summary
- 6. Voice of Customer
- 7. Africa Electric Three-Wheeler Market Outlook, 2016-2030F
- 7.1. Market Size & Forecast
- 7.1.1. By Value
- 7.1.2. By Volume
- 7.2. Market Share & Forecast
- 7.2.1. By Battery Type
- 7.2.1.1. Lead Acid
- 7.2.1.2. Lithium-ion
- 7.2.1.3. NiMH
- 7.2.2. By Power Type
- 7.2.2.1. Upto 1000W
- 7.2.2.2. 1000W-1500W
- 7.2.2.3. Above 1500W
- 7.2.3. By Application
- 7.2.3.1. Commercial
- 7.2.3.2. Personal
- 7.2.4. By Region
- 7.2.4.1. South Africa
- 7.2.4.2. Ghana
- 7.2.4.3. Mozambique
- 7.2.4.4. Egypt
- 7.2.4.5. Kenya
- 7.2.4.6. Nigeria
- 7.2.4.7. Morocco
- 7.2.4.8. Rest of Africa
- 8. South Africa Electric Three-Wheeler Market Outlook, 2016-2030F
- 8.1. Market Size & Forecast
- 8.1.1. By Value
- 8.1.2. By Volume
- 8.2. Market Share & Forecast
- 8.2.1. By Battery Type
- 8.2.1.1. Lead Acid
- 8.2.1.2. Lithium-ion
- 8.2.1.3. NiMH
- 8.2.2. By Power Type
- 8.2.2.1. Upto 1000W
- 8.2.2.2. 1000W-1500W
- 8.2.2.3. Above 1500W
- 8.2.3. By Application
- 8.2.3.1. Commercial
- 8.2.3.2. Personal
- 9. Ghana Electric Three-Wheeler Market Outlook, 2016-2030F
- 9.1. Market Size & Forecast
- 9.1.1. By Value
- 9.1.2. By Volume
- 9.2. Market Share & Forecast
- 9.2.1. By Battery Type
- 9.2.1.1. Lead Acid
- 9.2.1.2. Lithium-ion
- 9.2.1.3. NiMH
- 9.2.2. By Power Type
- 9.2.2.1. Upto 1000W
- 9.2.2.2. 1000W-1500W
- 9.2.2.3. Above 1500W
- 9.2.3. By Application
- 9.2.3.1. Commercial
- 9.2.3.2. Personal
- 10. Mozambique Electric Three-Wheeler Market Outlook, 2016-2030F
- 10.1. Market Size & Forecast
- 10.1.1. By Value
- 10.1.2. By Volume
- 10.2. Market Share & Forecast
- 10.2.1. By Battery Type
- 10.2.1.1. Lead Acid
- 10.2.1.2. Lithium-ion
- 10.2.1.3. NiMH
- 10.2.2. By Power Type
- 10.2.2.1. Upto 1000W
- 10.2.2.2. 1000W-1500W
- 10.2.2.3. Above 1500W
- 10.2.3. By Application
- 10.2.3.1. Commercial
- 10.2.3.2. Personal
- 11. Egypt Electric Three-Wheeler Market Outlook, 2016-2030F
- 11.1. Market Size & Forecast
- 11.1.1. By Value
- 11.1.2. By Volume
- 11.2. Market Share & Forecast
- 11.2.1. By Battery Type
- 11.2.1.1. Lead Acid
- 11.2.1.2. Lithium-ion
- 11.2.1.3. NiMH
- 11.2.2. By Power Type
- 11.2.2.1. Upto 1000W
- 11.2.2.2. 1000W-1500W
- 11.2.2.3. Above 1500W
- 11.2.3. By Application
- 11.2.3.1. Commercial
- 11.2.3.2. Personal
- 12. Kenya Electric Three-Wheeler Market Outlook, 2016-2030F
- 12.1. Market Size & Forecast
- 12.1.1. By Value
- 12.1.2. By Volume
- 12.2. Market Share & Forecast
- 12.2.1. By Battery Type
- 12.2.1.1. Lead Acid
- 12.2.1.2. Lithium-ion
- 12.2.1.3. NiMH
- 12.2.2. By Power Type
- 12.2.2.1. Upto 1000W
- 12.2.2.2. 1000W-1500W
- 12.2.2.3. Above 1500W
- 12.2.3. By Application
- 12.2.3.1. Commercial
- 12.2.3.2. Personal
- 13. Nigeria Electric Three-Wheeler Market Outlook, 2016-2030F
- 13.1. Market Size & Forecast
- 13.1.1. By Value
- 13.1.2. By Volume
- 13.2. Market Share & Forecast
- 13.2.1. By Battery Type
- 13.2.1.1. Lead Acid
- 13.2.1.2. Lithium-ion
- 13.2.1.3. NiMH
- 13.2.2. By Power Type
- 13.2.2.1. Upto 1000W
- 13.2.2.2. 1000W-1500W
- 13.2.2.3. Above 1500W
- 13.2.3. By Application
- 13.2.3.1. Commercial
- 13.2.3.2. Personal
- 14. Morocco Electric Three-Wheeler Market Outlook, 2016-2030F
- 14.1. Market Size & Forecast
- 14.1.1. By Value
- 14.1.2. By Volume
- 14.2. Market Share & Forecast
- 14.2.1. By Battery Type
- 14.2.1.1. Lead Acid
- 14.2.1.2. Lithium-ion
- 14.2.1.3. NiMH
- 14.2.2. By Power Type
- 14.2.2.1. Upto 1000W
- 14.2.2.2. 1000W-1500W
- 14.2.2.3. Above 1500W
- 14.2.3. By Application
- 14.2.3.1. Commercial
- 14.2.3.2. Personal
- 15. Rest of Africa Electric Three-Wheeler Market Outlook, 2016-2030F
- 15.1. Market Size & Forecast
- 15.1.1. By Value
- 15.1.2. By Volume
- 15.2. Market Share & Forecast
- 15.2.1. By Battery Type
- 15.2.1.1. Lead Acid
- 15.2.1.2. Lithium-ion
- 15.2.1.3. NiMH
- 15.2.2. By Power Type
- 15.2.2.1. Upto 1000W
- 15.2.2.2. 1000W-1500W
- 15.2.2.3. Above 1500W
- 15.2.3. By Application
- 15.2.3.1. Commercial
- 15.2.3.2. Personal
- 16. Africa Electric Three-Wheeler Market Mapping, 2021
- 16.1. By Battery Type
- 16.2. By Power Type
- 16.3. By Application
- 16.4. By Region
- 17. Macro-Business Environmental Scope
- 17.1. Porter’s Five Forces Analysis
- 17.2. PESTEL Analysis
- 17.3. Value Chain Analysis
- 17.4. Pricing Analysis
- 17.5. Best Practice Case Studies by Market Leaders (Upto Three)
- 18. Market Analysis
- 18.1. Growth Opportunities
- 18.2. Growth Inhibitors
- 19. Key Trends & Developments
- 20. Key Players Landscape
- 20.1. SWOT Analysis of Top Five Market Leaders
- 20.1.1. Core Competence and Key Value Proposition
- 20.1.2. Areas of Improvement
- 20.1.3. Untapped Scope of Business
- 20.1.4. Market Value Proposed by Competitors
- 20.2. Competition Matrix of Market Leaders
- 20.3. Market Revenue Analysis of Market Leaders (in %, 2022)
- 20.4. Mergers & Acquisitions/ Joint Ventures (If Applicable)
- 21. Key Players Outlook
- 21.1. Yamaha Motor Company Limited
- 21.1.1. Company Details
- 21.1.2. Products & Services
- 21.1.3. Financials (As Reported)
- 21.1.4. Key Market Focus & Geographical Presence
- 21.1.5. Recent Developments
- 21.1.6. Key Management Personnel
- 21.2. Mazi Mobility Company
- 21.3. Lifan Technology (Group) Co., Ltd.
- 21.4. ATUL Auto Limited
- 21.5. Mahindra Electric Mobility Limited
- 21.6. Terra Motors Corporation
- 21.7. Piaggio & C. SpA
- 21.8. Kinetic Green Energy & Power Solutions Ltd.
- 21.9. Chongqing Zongshen Vehicle Co., Ltd
- 21.10. Huaihai International Development Corporation
- 22. Strategic Insights & Recommendations
- 23. About Us & Disclaimer
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