Africa Electric Three-Wheeler Market Assessment, 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.

Africa Electric Three-Wheeler Market Assessment, Opportunities and Forecast: Report Scope

“Africa Electric Three-Wheeler Market Assessment, Opportunities and Forecast, 2016-2030F,” is a comprehensive report by Market Xcel, providing in-depth analysis and assessment of the current state of business in the electric three-wheeler market in Africa, industry dynamics and challenges. The report includes market size, segmental shares, growth trends, COVID-19 and Russia-Ukraine war impact, opportunities, and forecasts (2023-2030). Additionally, the report profiles the leading players in the industry mentioning their respective market share, business model, competitive intelligence, etc.

Report Attribute	Details
Base Year for Analysis	2022
Historical Period	2016-2021
Forecast Period	2023-2030
Projected Rate	CAGR of 12.54% between 2023 and 2030
Units	Revenue in USD Million and Volume in Thousand Units
Segments Covered	1.       By Battery Type 2.       By Power Type 3.       By Application
Regions Covered	1.       South Africa 2.       Ghana 3.       Mozambique 4.       Egypt 5.       Kenya 6.       Nigeria 7.       Morocco 8.       Rest of Africa
Key Companies Profiled	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., Kinetic Green Energy & Power Solutions Ltd., Chongqing Zongshen Vehicle Co., Ltd, Huaihai International Development Corporation
Customization Scope	15% free report customization with purchase. Alteration to country, regional, and segment scope.
Pricing and Purchase Options	Avail the customized purchase options to fulfil your precise research needs.
Delivery Format	PDF and Excel through email (subject to the license purchased)

 

In this report, Africa Electric Three-Wheeler Market has been segmented into following categories:

1.       Africa Electric Three-Wheeler Market, By Battery Type

1.1.    Lead Acid

1.2.    Lithium-ion

1.3.    NiMH

2.        Africa Electric Three-Wheeler Market, By Power Type

2.1.    Upto 1000W

2.2.    1000W-1500W

2.3.    Above 1500W

3.        Africa Electric Three-Wheeler Market, By Application

3.1.    Commercial

3.2.    Personal

4.        Africa Electric Three-Wheeler Market, By Region

4.1.    South Africa

4.2.    Ghana

4.3.    Mozambique

4.4.    Egypt

4.5.    Kenya

4.6.    Nigeria

4.7.    Morocco

4.8.    Rest of 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.