Africa ICE Three-Wheeler Market Assessment, By Fuel Type [Petrol/Diesel, CNG], By Engine Capacity [Less than 125cc, 126-250cc, 251-500cc, 501cc and Above], By Application [Private; Commercial-Service, Industrial], By Country, Opportunities, and Forecast, 2016-2030F

Africa ICE Three-Wheeler Market will witness a CAGR of 5.32% during the forecast period between 2023 and 2030. The global three-wheeler market was valued at USD 8.41 billion in 2022 and will register a lower CAGR of 4.51% in value terms during the same period due to subdued growth of internal combustion engine powered three wheelers vis-à-vis electric three wheelers. Three-wheelers are frequently used for last mile passenger and cargo transportation. The demand for three-wheelers in the African region is further influenced by the need for faster and less expensive options for public and goods transportation in the numerous developing nations.

In order to address the growing demand and evolving needs of customers, manufacturers are expanding their range of three-wheeler vehicle models. For instance, the Alfa CNG three-wheeler passenger and cargo vehicles was introduced in April 2022 by Mahindra Electric Mobility Limited, India based Mahindra & Mahindra Ltd’s subsidiary operating in Africa. A 395cm water-cooled engine that could provide 23.5 Nm of torque was used to propel the vehicle.

 

Increase in Fuel Prices

In many countries in Africa, three-wheeler engines are primarily powered by gasoline, CNG or diesel. The region's three-wheeler sales had been adversely impacted due to the high cost of fuel in several countries. The cost of fuel has significantly increased during the last three years. Furthermore, it is projected that prices would rise soon further due to the increased demand and restricted supply of crude oil from Russia due to the sanctions imposed. 

Post lifting of restrictions imposed due to the pandemic and rapid recovery in global economic activity, prices of crude oil is anticipated to rise over the near term. Higher taxes will cause oil prices to rise rapidly further. Sales of three-wheelers powered by gasoline/CNG and diesel are expected to suffer in the near future as a result of the oil price increase. Rising fuel costs are inadvertently driving users’ preference towards electric three-wheelers in the African region.

Increasing Popularity of Shared Mobility

Shared mobility services lessen traffic in urban areas and cut down on overall vehicle emissions. As a result, digitally enabled ride-hailing and car sharing efficiently manage transportation demands while also offering a convenient and sustainable alternative to owning a private vehicle. A single mobile app can manage the entire process of sharing and ride-hailing, from arranging a trip to making payments.

Ride-hailing services are anticipated to play a significant role in this market over the next few years by eliminating manual labour and lowering overall time and cost. The ICE Three-Wheeler Market in Africa is expected to grow because of this trend.

Impact of COVID-19 on Africa ICE Three-Wheeler Market

The COVID-19 caused a production standstill that hampered the sales of ICE three-wheeler market in Africa. The three-wheeler sector had been impacted by a mix of supply and demand concerns because most of the countries in and outside the African region had announced lockdown. Due to a unavailability of port infrastructure and workers, many three-wheeler manufacturing companies were unable to finish their export shipments nor import components. Additionally, even if some governments had not placed restrictions on the import and export of these goods, producers primarily concentrated on meeting domestic demand in order to reduce costs. These actions had severely disrupted import-export operations throughout Africa.

After experiencing the shocks due to COVID-19 induced lockdown, Africa’s economy is gradually recovering from the lows experienced in the first half of 2020. There is a significant rebound in supply & value chain operations, growth in demand and import & trade in automobile and transportation industry. Many manufacturers are showing interest in export of ICE three wheelers to the African regions as there is rising demand for shared mobility and also growing economic condition after COVID-19.

Impact of Russia-Ukraine War on Africa ICE Three-Wheeler Market

The Russia Ukraine war had adversely impacted Africa’s economic recovery from the shocks of COVID-19 pandemic. Rising fuel prices, disruption in trade of goods and components for automobile industry specially for two wheelers and three wheelers sector. Supply chain disruption affected the production of ICE three-wheeler market and also lowered the demand of ICE three-wheeler among consumers due to increased price of fuel and lower offtake of three wheelers by B2B sectors such as e-commerce and tourism.

Africa ICE Three-Wheeler Market Assessment, Opportunities and Forecast, 2016-2030 

“Africa ICE 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 ICE 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	2016-2022
Forecast Period	2023-2030
Projected Growth Rate	CAGR of 5.32% between 2023 and 2030
Units	Revenue in USD Million and Volume in Thousand Units
Segments Covered	By Fuel Typ  By Engine Capacity  By Application
Regions Covered	1.       South Africa 2.       Egypt 3.       Kenya 4.       Nigeria 5.       Algeria 6.       Tanzania 7.       Morocco 8.       Uganda 9.       Angola 10.   Ethiopia
Key Companies Profiled	Bajaj Auto Ltd., Piaggio & C. SpA., Yamaha Motor Company Limited, Mahindra & Mahindra Ltd., ATUL Auto Limited, Chongqing Zongshen Vehicle Co., Ltd., Huaihai International Development Corporation, Ningbo Dowedo International Trade Co., Ltd
Customization Scope	15% free report customization with purchase.
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 ICE Three-Wheeler Market has been segmented into following categories:

1.       Africa ICE Three-Wheeler Market, By Fuel Type

1.1.    Petrol/Gasoline

1.2.    Diesel

1.3.    CNG

1.4.    LPG

2.       Africa ICE Three-Wheeler Market, By Engine Capacity

2.1.    Less than 125cc

2.2.    126-250cc

2.3.    251-500cc

2.4.    501cc and above

3.       Africa ICE Three-Wheeler Market, By Application

3.1.    Private

3.2.    Commercial

3.3.    Service

3.4.    Industrial

4.       Africa ICE Three-Wheeler Market, By Country

4.1.    South Africa

4.2.    Egypt

4.3.    Kenya

4.4.    Nigeria

4.5.    Algeria

4.6.    Tanzania

4.7.    Morocco

4.8.    Uganda

4.9.    Angola

4.10.Ethiopia

Key Player Landscape and Outlook

Bajaj Auto Ltd., Piaggio & C. SpA., Yamaha Motor Company Limited, Mahindra & Mahindra Ltd., ATUL Auto Limited, Chongqing Zongshen Vehicle Co., Ltd. are some of the key players dominating ICE Three-wheeler market in Africa. To get a healthy return on their investment, these players are investing in several product innovations as included in the report. Additionally, significant competitors gain from advanced strategic actions like mergers, collaborations, and acquisitions by growing their client bases and their sales and distribution networks in the Africa ICE three-wheeler market. Bajaj Auto Limited introduced 14 ICE three-wheelers targeting commercial/B2B customers that complied with BS-6 norms in March 2020. Its several commercial three-wheeler models were offered in BS-VI technology under the Maxima, Maxima Cargo, and RE names. Additionally, the RE brand offered a 236 cc engine with fuel injection (FI) technology and three fuel choices, including CNG, LPG, and gasoline.

Key Players Operating in Africa ICE Three-Wheeler

1.       Bajaj Auto Ltd.

2.       Piaggio & C. SpA

3.       Yamaha Motor Company Limited

4.       Mahindra & Mahindra Ltd.

5.       ATUL Auto Limited

6.       Chongqing Zongshen Vehicle Co., Ltd

7.       Huaihai International Development Corporation

8.       Ningbo Dowedo International Trade Co., Ltd.

9.       Jiangsu East Yonsland Vehicle Manufacturing Co., Ltd

10.   Jiangsu Yufeng Vehicle Industry Co., Ltd.

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