South Africa Electric Cars Market SIZE & SHARE ANALYSIS - GROWTH TRENDS & FORECASTS UP TO 2029

The South Africa Electric Cars Market is segmented by Body Type ( Passenger Cars ) and by Fuel Type ( BEV, FCEV, HEV, PHEV )

South Africa Electric Cars Market Size

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South Africa Electric Cars Market
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Icons Lable Value
https://s3.mordorintelligence.com/study%20period/1629296433432_test~study_period_study_period.svg Study Period 2016 - 2029
https://s3.mordorintelligence.com/cagr/1629296433433_test~cagr_cagr.svg Market Size (2024) USD 585
https://s3.mordorintelligence.com/cagr/1629296433433_test~cagr_cagr.svg Market Size (2029) USD 931
https://s3.mordorintelligence.com/hydraulic_fluids/1629285650767_test~hydraulic_fluids_hydraulic_fluids.svg Largest Share by Sub Body Type Hatchback
https://s3.mordorintelligence.com/cagr/1629296433433_test~cagr_cagr.svg CAGR (2024 - 2029) 9.74 %
https://s3.mordorlabs.com/hydraulic_fluids/1629285650767_test~hydraulic_fluids_hydraulic_fluids.svg Fastest Growing by Sub Body Type Sports Utility Vehicle

Major Players

major-player-company-image major-player-company-image major-player-company-image major-player-company-image

*Disclaimer: Major Players sorted in no particular order

Key Players

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South Africa Electric Cars Market Analysis

The South Africa Electric Cars Market size is estimated at USD 585 in 2024, and is expected to reach USD 931 by 2029, growing at a CAGR of 9.74% during the forecast period (2024-2029).

  • Largest Segment by Fuel Type - BEV : Sales of hybrid vehicles are anticipated to outpace those of all-electric vehicles in South Africa as a result of rising CO2 emissions and taxation. These vehicles do not require EV charging infrastructure. These automobiles are also appropriate for use in nations with inadequate charging infrastructure. As a result, higher adoption rates are anticipated for the segment in the coming years.
  • Fastest-growing Segment by Fuel Type - HEV : BEV is the fastest-growing segment with a 16.2% CAGR due to aggressive electric policy, fixed purchase subsidies, and extremely low-interest loans supported by development finance institutions. BEV is the largest growing segment in the South African electric car market, with sales of around 203 vehicles in 2021.
  • Largest Segment By Body Type - Hatchback : SUVs are common types of vehicles that provide stability and comfort for drivers and passengers when navigating South Africa's less-than-ideal roads and a wide range of climates, terrains, and territories.

South Africa Electric Cars Market Trends

This section covers the major market trends shaping the South Africa Electric Cars Market according to our research experts:

Hatchback is the largest segment by Sub Body Type.

South Africa Electric Cars Market

South Africa Electric Cars Industry Overview

The South Africa Electric Cars Market is fairly consolidated, with the top five companies occupying 92.30%. The major players in this market are General Motors, Hyundai Motor Company, Renault, Toyota Motor Co. and Volkswagen AG (sorted alphabetically).

South Africa Electric Cars Market Leaders

  1. General Motors

  2. Hyundai Motor Company

  3. Renault

  4. Toyota Motor Co.

  5. Volkswagen AG

*Disclaimer: Major Players sorted in no particular order

South Africa Electric Cars Market
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South Africa Electric Cars Market Report - Table of Contents

  1. 1. EXECUTIVE SUMMARY & KEY FINDINGS

  2. 2. REPORT OFFERS

  3. 3. INTRODUCTION

    1. 3.1 Study Assumptions & Market Definition

    2. 3.2 Scope of the Study

    3. 3.3 Research Methodology

  4. 4. KEY INDUSTRY TRENDS

    1. 4.1 Population

    2. 4.2 GDP

    3. 4.3 CVP

    4. 4.4 Inflation Rate

    5. 4.5 Interest Rate For Auto Loans

    6. 4.6 Battery Price (per Kwh)

    7. 4.7 Electrification Impact

    8. 4.8 Shared Mobility

    9. 4.9 New XEV Models Announced

    10. 4.10 Charging Stations Deployment

    11. 4.11 Regulatory Framework

    12. 4.12 Value Chain & Distribution Channel Analysis

  5. 5. MARKET SEGMENTATION

    1. 5.1 Body Type

      1. 5.1.1 Passenger Cars

        1. 5.1.1.1 Hatchback

        2. 5.1.1.2 Multi-purpose Vehicle

        3. 5.1.1.3 Sedan

        4. 5.1.1.4 Sports Utility Vehicle

    2. 5.2 Fuel Type

      1. 5.2.1 BEV

      2. 5.2.2 FCEV

      3. 5.2.3 HEV

      4. 5.2.4 PHEV

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Key Strategic Moves

    2. 6.2 Market Share Analysis

    3. 6.3 Company Landscape

    4. 6.4 Company Profiles

      1. 6.4.1 Audi AG

      2. 6.4.2 BMW AG

      3. 6.4.3 Fiat

      4. 6.4.4 Ford Motor Company

      5. 6.4.5 General Motors

      6. 6.4.6 Honda Motor Co. Ltd.

      7. 6.4.7 Hyundai Motor Company

      8. 6.4.8 JAGUAR LAND ROVER LIMITED

      9. 6.4.9 Kia

      10. 6.4.10 Mercedes-Benz AG

      11. 6.4.11 Nissan Motor Company Ltd

      12. 6.4.12 Porsche

      13. 6.4.13 Renault

      14. 6.4.14 Toyota Motor Co.

      15. 6.4.15 Volkswagen AG

  7. 7. KEY STRATEGIC QUESTIONS FOR VEHICLES CEOS

  8. 8. APPENDIX

    1. 8.1 Global Overview

      1. 8.1.1 Overview

      2. 8.1.2 Porter's Five Forces Framework

      3. 8.1.3 Global Value Chain Analysis

      4. 8.1.4 Market Dynamics (DROs)

    2. 8.2 Sources & References

    3. 8.3 List of Tables & Figures

    4. 8.4 Primary Insights

    5. 8.5 Data Pack

    6. 8.6 Glossary of Terms

List of Tables & Figures

  1. Figure 1:  
  2. SOUTH AFRICA ELECTRIC CARS MARKET, POPULATION YOY GROWTH RATE, MILLION UNITS, 2016 – 2026
  1. Figure 2:  
  2. SOUTH AFRICA ELECTRIC CARS MARKET, GDP YOY GROWTH RATE, USD MILLION, 2016 – 2026
  1. Figure 3:  
  2. SOUTH AFRICA ELECTRIC CARS MARKET, CVP YOY GROWTH RATE, 2016 – 2027
  1. Figure 4:  
  2. SOUTH AFRICA ELECTRIC CARS MARKET, INFLATION RATE YOY GROWTH RATE, PERCENT, 2016 – 2026
  1. Figure 5:  
  2. SOUTH AFRICA ELECTRIC CARS MARKET, INTEREST RATE FOR AUTO LOANS YOY GROWTH RATE, PERCENT, 2016 – 2026
  1. Figure 6:  
  2. SOUTH AFRICA ELECTRIC CARS MARKET, BATTERY PRICES YOY GROWTH RATE, 2016 – 2026
  1. Figure 7:  
  2. SOUTH AFRICA ELECTRIC CARS MARKET, ELECTRIFICATION IMPACT, VOLUME, YOY GROWTH RATE, PERCENT, 2016 – 2026
  1. Figure 8:  
  2. SOUTH AFRICA ELECTRIC CARS MARKET, DISTRIBUTION OF GROSS DOMESTIC PRODUCT BY ECONOMIC ACTIVITY, SHARE %, 2021
  1. Figure 9:  
  2. SOUTH AFRICA ELECTRIC CARS MARKET, NEW XEV MODELS ANNOUNCED, VOLUME, YOY GROWTH RATE, UNITS, 2016 – 2026
  1. Figure 10:  
  2. SOUTH AFRICA ELECTRIC CARS MARKET, CHARGING STATIONS DEPLOYMENT, VOLUME, YOY GROWTH RATE, UNITS, 2016 – 2026
  1. Figure 11:  
  2. SOUTH AFRICA ELECTRIC CARS MARKET, VOLUME IN UNITS, 2016 – 2026
  1. Figure 12:  
  2. SOUTH AFRICA ELECTRIC CARS MARKET, VALUE IN USD, 2016 – 2026
  1. Figure 13:  
  2. SOUTH AFRICA ELECTRIC CARS MARKET, BY SUB BODY TYPE, BY VOLUME IN UNITS, 2016-2028
  1. Figure 14:  
  2. SOUTH AFRICA ELECTRIC CARS MARKET, BY SUB BODY TYPE, BY VALUE IN USD, 2016-2028
  1. Figure 15:  
  2. SOUTH AFRICA ELECTRIC CARS MARKET MARKET, SHARE(%), BY SUB BODY TYPE, 2016 - 2028
  1. Figure 16:  
  2. SOUTH AFRICA ELECTRIC CARS MARKET MARKET, SHARE(%), BY SUB BODY TYPE, 2016 - 2028
  1. Figure 17:  
  2. SOUTH AFRICA ELECTRIC CARS MARKET, BY HATCHBACK, BY VOLUME IN UNITS, 2016-2028
  1. Figure 18:  
  2. SOUTH AFRICA ELECTRIC CARS MARKET, BY HATCHBACK, BY VALUE IN USD, 2016-2028
  1. Figure 19:  
  2. SOUTH AFRICA ELECTRIC CARS MARKET, BY MULTI-PURPOSE VEHICLE, BY VOLUME IN UNITS, 2016-2028
  1. Figure 20:  
  2. SOUTH AFRICA ELECTRIC CARS MARKET, BY MULTI-PURPOSE VEHICLE, BY VALUE IN USD, 2016-2028
  1. Figure 21:  
  2. SOUTH AFRICA ELECTRIC CARS MARKET, BY SEDAN, BY VOLUME IN UNITS, 2016-2028
  1. Figure 22:  
  2. SOUTH AFRICA ELECTRIC CARS MARKET, BY SEDAN, BY VALUE IN USD, 2016-2028
  1. Figure 23:  
  2. SOUTH AFRICA ELECTRIC CARS MARKET, BY SPORTS UTILITY VEHICLE, BY VOLUME IN UNITS, 2016-2028
  1. Figure 24:  
  2. SOUTH AFRICA ELECTRIC CARS MARKET, BY SPORTS UTILITY VEHICLE, BY VALUE IN USD, 2016-2028
  1. Figure 25:  
  2. SOUTH AFRICA ELECTRIC CARS MARKET, BY FUEL TYPE, BY VOLUME IN UNITS, 2016-2028
  1. Figure 26:  
  2. SOUTH AFRICA ELECTRIC CARS MARKET, BY FUEL TYPE, BY VALUE IN USD, 2016-2028
  1. Figure 27:  
  2. SOUTH AFRICA ELECTRIC CARS MARKET MARKET, SHARE(%), BY FUEL TYPE, 2016 - 2028
  1. Figure 28:  
  2. SOUTH AFRICA ELECTRIC CARS MARKET MARKET, SHARE(%), BY FUEL TYPE, 2016 - 2028
  1. Figure 29:  
  2. SOUTH AFRICA ELECTRIC CARS MARKET, BY BEV, BY VOLUME IN UNITS, 2016-2028
  1. Figure 30:  
  2. SOUTH AFRICA ELECTRIC CARS MARKET, BY BEV, BY VALUE IN USD, 2016-2028
  1. Figure 31:  
  2. SOUTH AFRICA ELECTRIC CARS MARKET, BY FCEV, BY VOLUME IN UNITS, 2016-2028
  1. Figure 32:  
  2. SOUTH AFRICA ELECTRIC CARS MARKET, BY FCEV, BY VALUE IN USD, 2016-2028
  1. Figure 33:  
  2. SOUTH AFRICA ELECTRIC CARS MARKET, BY HEV, BY VOLUME IN UNITS, 2016-2028
  1. Figure 34:  
  2. SOUTH AFRICA ELECTRIC CARS MARKET, BY HEV, BY VALUE IN USD, 2016-2028
  1. Figure 35:  
  2. SOUTH AFRICA ELECTRIC CARS MARKET, BY PHEV, BY VOLUME IN UNITS, 2016-2028
  1. Figure 36:  
  2. SOUTH AFRICA ELECTRIC CARS MARKET, BY PHEV, BY VALUE IN USD, 2016-2028
  1. Figure 37:  
  2. SOUTH AFRICA ELECTRIC CARS MARKET, MOST ACTIVE COMPANIES, BY NUMBER OF STRATEGIC MOVES, 2018 - 2021
  1. Figure 38:  
  2. SOUTH AFRICA ELECTRIC CARS MARKET, MOST ADOPTED STRATEGIES, 2018 - 2021
  1. Figure 39:  
  2. SOUTH AFRICA ELECTRIC CARS MARKET SHARE(%), BY MAJOR PLAYERS, 2021

South Africa Electric Cars Industry Segmentation

Passenger Cars are covered as segments by Body Type. BEV, FCEV, HEV, PHEV are covered as segments by Fuel Type.
Body Type
Passenger Cars
Hatchback
Multi-purpose Vehicle
Sedan
Sports Utility Vehicle
Fuel Type
BEV
FCEV
HEV
PHEV
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Market Definition

  • Body Type - Passenger cars are electric motor– or engine-driven vehicles with at least four wheels. These vehicles are used for the transport of passengers and comprise no more than eight seats in addition to the driver’s seat.
  • Engine Type - Hybrid and electric vehicles are vehicles that run on batteries and use one or more electric motors for propulsion.
  • Fuel Type - Hybrid and electric vehicles include HEV, PHEV, BEV, and FCEV.
  • Sub Body Type - The sub-body type includes Hatchback, Sedan, SUV, and MPV.
  • Vehicle Type - Passenger vehicles which includes electric powered cars and vehicles, sports utility vehicles, multipurpose vehicles
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Research Methodology

Mordor Intelligence follows a four-step methodology in all our reports.

  • Step-1: Identify Key Variables: In order to build a robust forecasting methodology, the variables and factors identified in Step-1 are tested against available historical market numbers. Through an iterative process, the variables required for market forecast are set and the model is built on the basis of these variables.
  • Step-2: Build a Market Model: Market-size estimations for the historical and forecast years have been provided in revenue and volume terms. For sales conversion to volume, the average selling price (ASP) is kept constant throughout the forecast period for each country, and inflation is not a part of the pricing.
  • Step-3: Validate and Finalize: In this important step, all market numbers, variables and analyst calls are validated through an extensive network of primary research experts from the market studied. The respondents are selected across levels and functions to generate a holistic picture of the market studied.
  • Step-4: Research Outputs: Syndicated Reports, Custom Consulting Assignments, Databases & Subscription Platforms
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South Africa Electric Cars Market Research FAQs

The South Africa Electric Cars Market size is expected to reach USD 585 in 2024 and grow at a CAGR of 9.74% to reach USD 931 by 2029.

In 2024, the South Africa Electric Cars Market size is expected to reach USD 585.

General Motors, Hyundai Motor Company, Renault, Toyota Motor Co. and Volkswagen AG are the major companies operating in the South Africa Electric Cars Market.

In the South Africa Electric Cars Market, the Hatchback segment accounts for the largest share by sub body type.

In 2024, the Sports Utility Vehicle segment accounts for the fastest growing by sub body type in the South Africa Electric Cars Market.

In 2023, the South Africa Electric Cars Market size was estimated at USD 515. The report covers the South Africa Electric Cars Market historical market size for years: 2016, 2017, 2018, 2019, 2020, 2021, 2022 and 2023. The report also forecasts the South Africa Electric Cars Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.

South Africa Electric Cars Industry Report

Statistics for the 2024 South Africa Electric Cars market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. South Africa Electric Cars analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.

South Africa Electric Cars Market SIZE & SHARE ANALYSIS - GROWTH TRENDS & FORECASTS UP TO 2029