Middle East and Africa Automotive Electric Vehicle Market Size (2024 - 2029)

The market size of the Automotive Electric Vehicle sector in the Middle East and Africa is anticipated to grow significantly during the forecast period. This growth is fueled by various factors such as the impact of the COVID-19 pandemic, which has led to a drop in car sales and the closure of manufacturing units. The market is also driven by the growing focus of governments in the region to promote the use of electric vehicles and increased awareness about energy storage solutions. Furthermore, the expansion of the 5th generation-based telecommunication network and the implementation of Vision Documents in certain countries are expected to aid the market. Additionally, Sub-Saharan African countries are looking for alternative energy sources for transport and electricity storage solutions, which could potentially be met by electric vehicles. Early adoption of electric vehicles in countries like Saudi Arabia and the United Arab Emirates also contributes to the market expansion.

Market Size of Middle East and Africa Automotive Electric Vehicle Industry

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Middle-East and Africa Electric Vehicle Market Summary
Study Period 2019 - 2029
Market Size (2024) USD 3.33 Billion
Market Size (2029) USD 9.42 Billion
CAGR (2024 - 2029) 23.20 %
Fastest Growing Market Middle East and Africa
Largest Market Middle East and Africa

Major Players

Middle East and Africa Automotive Electric Vehicle Market Major Players

*Disclaimer: Major Players sorted in no particular order

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Middle East Electric Vehicles Market Analysis

The Middle East and Africa Automotive Electric Vehicle Market size is estimated at USD 3.33 billion in 2024, and is expected to reach USD 9.42 billion by 2029, growing at a CAGR of 23.20% during the forecast period (2024-2029).

The impact of the COVID-19 pandemic on the electric vehicle market is inescapable. Several factors caused car sales to drop in 2020, including closures of manufacturing units, social distance norms, and reduced consumer spending on transportation. The automotive industry witnessed significant growth in terms of sales in the previous year, and it is expected to continue during the forecast period.

The growing focus of governments across the region to promote the use of electric vehicles and increased awareness about energy storage solutions in the renewable-based power sector is expected to drive the market during the forecast period. Moreover, expanding the 5th generation-based telecommunication network and implementation of Vision Documents in Saudi Arabia, the United Arab Emirates, Qatar, and Kuwait are likely to further aid the Middle East and African EV market in the coming years.

Sub-Saharan African (SSA) countries are in urgent need of alternative energy sources for transport to stave off the growing burden of fuel dependency and subsidies, as well as an electricity storage solution to leverage their abundant renewable energy resources. Electric vehicles (EVs), powered by electricity and running on battery storage, offer a potential solution to both of these problems. Many SSA countries are expected to make large power capacity investments in the next decade.

Countries like Saudi Arabia and the United Arab Emirates are becoming early adopters of electric vehicles in the Middle Eastern region. The Saudi Arabian Standards Organization (SASO) has plans to issue regulations for the use of electric vehicles. The Road Transport Authority (RTA) of the United Arab Emirates has issued advisory messages and worked to develop charging stations in the country.

Middle East Electric Vehicles Industry Segmentation

An electric vehicle (EV) operates on an electric motor instead of an internal combustion engine that generates power by burning a mix of fuel and gases. Therefore, such a vehicle is seen as a possible replacement for current-generation automobiles to address rising pollution, global warming, depleting natural resources, etc.

The Middle East and African electric vehicle market is segmented into drive type, vehicle type, and geography. Based on the drive type, the market is segmented into plug-in hybrid and pure electric. Based on vehicle type, the market is segmented into passenger cars and commercial vehicles. Based on geography, the market is segmented into the United Arab Emirates, Saudi Arabia, South Africa, Egypt, and the Rest of the Middle East and Africa. For each segment, market size and forecasts have been calculated based on value (USD million).

By Drive Type
Plug-in Hybrid
Pure Electric
By Vehicle Type
Passenger Cars
Commercial Vehicles
By Country
United Arab Emirates
Saudi Arabia
South Africa
Egypt
Rest of Middle-East and Africa

Middle East and Africa Automotive Electric Vehicle Market Size Summary

The Middle East and Africa Automotive Electric Vehicle Market is expected to grow significantly in the coming years. This growth is driven by the increasing focus of governments across the region on promoting the use of electric vehicles and the growing awareness about energy storage solutions in the renewable-based power sector. The expansion of 5th generation-based telecommunication networks and the implementation of Vision Documents in countries like Saudi Arabia, the United Arab Emirates, Qatar, and Kuwait are also expected to boost the market. Countries such as Saudi Arabia and the United Arab Emirates are becoming early adopters of electric vehicles in the Middle Eastern region. The market is also witnessing the rise of electric mobility in the Middle East and African Region. Governments in the region are focusing on renewable energy and clean transportation technologies and are implementing economic and energy diversification plans. They are also taking initiatives to build charging infrastructure across the region to promote the sale of electric vehicles. Major players in the market are forming partnerships, joint ventures, and acquisitions to meet the growing demand for electric vehicles in the region.

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Middle East and Africa Automotive Electric Vehicle Market Size - Table of Contents

  1. 1. MARKET DYNAMICS

    1. 1.1 Market Drivers

    2. 1.2 Market Restraints

    3. 1.3 Industry Attractiveness - Porter's Five Forces Analysis

      1. 1.3.1 Bargaining Power of Suppliers

      2. 1.3.2 Bargaining Power of Consumers

      3. 1.3.3 Threat of New Entrants

      4. 1.3.4 Threat of Substitute Products

      5. 1.3.5 Intensity of Competitive Rivalry

  2. 2. MARKET SEGMENTATION (Market Size by Value - USD Million)

    1. 2.1 By Drive Type

      1. 2.1.1 Plug-in Hybrid

      2. 2.1.2 Pure Electric

    2. 2.2 By Vehicle Type

      1. 2.2.1 Passenger Cars

      2. 2.2.2 Commercial Vehicles

    3. 2.3 By Country

      1. 2.3.1 United Arab Emirates

      2. 2.3.2 Saudi Arabia

      3. 2.3.3 South Africa

      4. 2.3.4 Egypt

      5. 2.3.5 Rest of Middle-East and Africa

Middle East and Africa Automotive Electric Vehicle Market Size FAQs

The Middle East and Africa Automotive Electric Vehicle Market size is expected to reach USD 3.33 billion in 2024 and grow at a CAGR of 23.20% to reach USD 9.42 billion by 2029.

In 2024, the Middle East and Africa Automotive Electric Vehicle Market size is expected to reach USD 3.33 billion.

Middle East Electric Vehicle Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)