The Middle East & Africa high-performance electric vehicles market is expected to grow rapidly during the forecast period. Electric and hybrid modes of transport are gaining momentum in the Gulf region and particularly in the UAE. The UAE government has already started making efforts to reduce the contribution of road transport to its footprint; so that it makes the country an ideal location to push the adoption rate of green mobility solutions (objectives to reach 10% of EV by 2030 in Dubai). The trend towards greener modes of transport complements the results of the recent UN COP21 Climate Change Summit in Paris, which highlighted the need to cut greenhouse gases, like CO2 by as much as 80% in many countries by 2020.
Dubai has already established an initial network of around 100 charging stations, as part of its efforts to boost the numbers of electric vehicles (EVs). Also, some of the manufacturers have already expressed their interest in introducing hybrid or fully electric models in the UAE. For instance, in January 2018, Toyota launched its 4th generation Toyota Prius hybrid in UAE.
Electric Vehicles are About to Shift Gears in Gulf Region
The Middle East is known for its oil and gas but an era of electric cars whizzing, along the region’s superhighways. Low fuel prices and the passion for speed, luxurious automobiles in the region has meant that drivers have been relatively slow to shift to electric vehicles especially compared to their counterparts in markets, like China. However, the adoption of electric cars is set to enter the fast lane in the Gulf, especially in tech-savvy urban hubs like Dubai.
The interest in e-mobility in the Middle East is steadily increasing. A Swedish-Swiss multinational corporation company known as ABB made its first installations in Jordan about two years ago and had since secured a contract with the UAE government entity. It is set to install new units in the country in the by the end of 2018.
Challenges for High-Performance Electric Vehicles Market in Africa
In South Africa, the new Tesla will be sold for a steep 530,000 rand at current exchange rates. Charging resources in the rest of the region remain uncommon. The vital support infrastructure for these vehicles such as charging infrastructure has not been developed. According to Open Charge Map, which is an online database of global charging equipment locations, South Africa is the only country in which contributors have identified electric vehicle charging stations. Despite this shortcoming, the demand for clean, silent transport technologies like electric vehicles shall increase with the development of such vital infrastructure in the region. One of the main challenges for the electric vehicle market is load shedding. In South Africa, there is not enough electricity available to meet the demand from consumers. African government believes that Africa’s electricity issue will be overcome shortly. The government said that Uganda’s power generation had increased to 830 megawatts from 596 megawatts in 2010. The government will also increase in renewable energy investment as a factor phasing out power shortages in Uganda.
Source: Statista/Mordor Intelligence
Key Developments in the Market
- November 2017: General Motors Debuts First Electric Vehicle in the Middle East
- November 2017: Ford will launch four new hybrid vehicles over the next four years in Middle East
Major Players: Volkswagen AG, Daimler AG, General Motors Company, Nissan, among others.
Reasons to Purchase this Report
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- The vehicle type that is expected to dominate the market
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1.1 Scope of the Market
1.2 Maket Definition
1.3 Executive Summary
2. Research Methodology
2.1 Study Deliverables
2.2 Study Assumptions
2.3 Analysis Methodology
2.4 Research Phases
3. Market Overview and Technology Trends
3.1 Current Market Overview
3.2 Supply Chain Analysis
3.3 Industry Attractiveness - Porter's Five Forces Analysis
3.3.1 Bargaining Power of Suppliers
3.3.2 Bargaining Power of Consumers
3.3.3 Threat of New Entrants
3.3.4 Threat of Substitute Products and Services
3.3.5 Competitive Rivalry within the Industry
3.4 Technological Trends
4. Market Dynamics
5. Market Segmentation and Analysis (Market Size, Growth, and Forecast)
5.1 By Drive
5.1.1 Plug-in Hybrid
5.1.2 Pure Electric
5.2 By Vehicle
5.2.1 Passenger Vehicle
5.2.2 Passenger Vehicle
6. Regional Market Analysis (Market Size, Growth, and Forecast)
6.1 South Africa
6.4 Saudi Arabia
6.5 Rest of Middle East & Africa
7. Competitive Landscape
7.2 Market Share Analysis
8. Company Profiles
8.3 General Motors
8.8 Tesla Motors
9. Future Outlook