Middle East and Africa electric three-wheeler market, by vehicle type (passenger and cargo carrier), battery capacity (101 Ah), by battery type (lead-acid and lithium-ion), By Country, By Company, Forecast & Opportunities, 2017-2030
New York, May 04, 2022 (GLOBE NEWSWIRE) — Reportlinker.com announces the publication of the report “Middle East and Africa Electric Three Wheeler Market, By Vehicle Type, Battery Capacity, By Battery Type, By Country, By Company, Forecast & Opportunities, 2017-2030” – https://www.reportlinker.com/p06273090/?utm_source=GNW
The market value of electric three-wheelers in the Middle East and Africa in 2021 was USD 15,748.91 thousand and is expected to grow at a CAGR of 14.38% during the forecast period 2023-2030, to reach the market value of USD 50,808.07 thousand by 2030 The market is expected to grow with the growing demand for electric vehicles in the region. Rising demand for electric three-wheelers and rising concerns over environmental degradation are expected to drive the major share of the electric three-wheeler market in the Middle East and Africa over the next five years. Growing inclination towards emission-free transportation and rising awareness of the benefits of public transportation are also supporting the growth of the electric three-wheeler market in the Middle East and Africa over the next five years.
The demand for electric vehicles is also increasing due to the increase in the disposable income of the people. The economies of most GCC countries are driven by oil exports and production in countries like Saudi Arabia, UAE, Kuwait, Qatar, etc.
The rising cost of petroleum and petroleum products influences the growing inclination of the common population towards electric vehicles. Growing fear movement and growing demand for more economical and environmentally friendly options for transportation and freight transportation are also contributing to the growth of the Middle East and Africa electric three-wheeler market in the next five years.
Technological advancements and growing investments in vehicle development are also majorly responsible for the growth of the electric three-wheeler market in the Middle East and Africa over the forecast period.
The electric three-wheeler market in the Middle East and Africa is segmented by vehicle type, battery capacity, battery type, country analysis and competitive landscape. Based on vehicle type, the market is split between passenger carriers and load carriers.
By battery capacity, the market differentiates between less than 101 Ah and more than 101 Ah. Based on battery type, the market is split between lead-acid and lithium-acid.
The market is also analyzed among countries in the Middle East and Africa region. The MEA region includes countries such as Saudi Arabia, United Arab Emirates, Israel, Algeria, Egypt, Oman, South Africa, Iran, Iraq, Nigeria, Turkey and the rest of the Middle East and Africa region.
Turkey is expected to hold the largest market revenue share and dominate the market analysis by country over the next five years owing to the growth of the automotive industry in the country. Growing adaptation to technologically advanced automobiles and increasing investment in vehicle advancement further support the growth of the electric three-wheeler market in the Middle East and Africa over the next five years.
Chongqing Zongshen Vehicle Co., Ltd (Zongshen Industrial Group Co. Ltd), Saera Electric Auto Pvt. (Mayuri), Kinetic Green Energy & Power Solutions Ltd., Jiangsu Jinpeng Group Co., Ltd., Jiangsu Yufeng Vehicle Industry Co., Ltd., Ningbo Dowdo International Trade Co., Ltd., Xianghe Qiangsheng Electric Tricycle Factory, Terra Motors Corporation , Piaggio Commercial SA (PTY) Ltd, Jiangsu East Yonsland Vehicle Manufacturing Co., Ltd Company among others are some of the market leaders in the region. Majority of the market share and growth of electric three-wheeler market in Middle East and Africa is influenced by these companies.
Years considered for this report:
Historical years: 2017-2020
Base year: 2021
Estimated year: 2022
Forecast period: 2023-2030
Goal of the study:
• To analyze the market size of the Middle East and Africa Electric Three-Wheeler market from 2017 to 2021.
• Estimate and forecast the market size of Middle East & Africa Electric Three-Wheeler Market from 2022-2030 and the growth rate till 2030.
• Classify and forecast the Middle East & Africa Electric Three-Wheeler Market based on Vehicle Type, Battery Capacity, Battery Type, Country Analysis and Competitive Landscape.
• Identify the country or segment dominating in the electric three-wheeler market in the Middle East and Africa.
• Identify drivers and challenges for the electric three-wheeler market in the Middle East and Africa.
• Examine competitive developments such as expansions, new product launches, mergers and acquisitions, etc., in the electric three-wheeler market in the Middle East and Africa.
• Identify and analyze the profile of key players operating in the electric three-wheeler market in the Middle East and Africa.
• Identify the key sustainable strategies adopted by market players in the Electric Three-Wheeler market in the Middle East and Africa.
The analyst conducted extensive primary and secondary research for this study. Initially, the analyst procured a list of manufacturers in the region.
Subsequently, the analyst conducted primary research surveys with the identified companies. During the interviews, the respondents were also asked about their competitors.
Using this technique, the analyst could include manufacturers that could not be identified due to secondary research limitations. The analyst has reviewed the manufacturers, distribution channels and presence of all major players in the Middle East and North Africa region.
The analyst has calculated the market size of the Middle East & Africa Electric Three-Wheelers market using a bottom-up approach, in which data from various end-user segments has been recorded and forecasted for the coming years. . The analyst obtained these values from industry experts and company representatives and validated them externally by analyzing historical data for these products and applications to derive an appropriate overall market size.
Various secondary sources such as company websites, news articles, press releases, company annual reports, investor presentations and financial reports were also studied by the analyst.
Key target audience:
• Manufacturers, suppliers, distributors and other stakeholders
• Government bodies such as regulators and policy makers
• Organizations, forums and alliances related to electric three-wheelers
• Market research and consulting firms
The study is helpful in providing answers to several critical questions which are important for industry stakeholders such as manufacturers, suppliers, partners, end users etc. besides enabling them to elaborate investment strategies and to capitalize on market opportunities.
In this report, the Electric Three-Wheelers Market in the Middle East and Africa has been segmented into the following categories, in addition to industry trends which have also been detailed below:
• Electric three-wheeler market in the Middle East and Africa, by vehicle type:
o Load carrier
o Passenger carrier
• Electric three-wheeler market in the Middle East and Africa, by battery capacity:
• Electric three-wheeler market in the Middle East and Africa, by battery type:
o Lead acid
o Lithium Ion
• Electric three-wheeler market in the Middle East and Africa, by country:
o South Africa
o Saudi Arabia
o Rest of the Middle East and Africa
Company Profiles: Detailed analysis of the main companies present in the electric three-wheeler market in the Middle East and Africa.
With the given market data, we offer customizations based on the specific needs of a business. The following customization options are available for the report:
• Detailed analysis and profiling of other market players (up to five).
Read the full report: https://www.reportlinker.com/p06273090/?utm_source=GNW
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