Urban Mobility, International Collaborations, Expanding Tourism, Rapid Urbanization, and Attracts Adoption flourishes the Market Growth
According to the Markets and Data, Research report, “Africa Electric Two-Wheeler Market Assessment, By Region, Opportunities and Forecast, FY2017-FY2031F”, Africa Electric Two-Wheeler Market was valued at USD 554.68 million in FY2023. The market will proliferate at a CAGR of 24.78% to reach USD 2612.14 million by FY2031.
The higher prices and tariffs on fossil fuel along with the import taxes are pushing end users to adopt electric scooter and motorcycles. The limited economic activity in Africa limits the per capita income, leading to the higher sales of electric two-wheelers in the region. Apart from higher fuel prices, increasing vehicular pollution through internal combustion engines (ICE) are being replaced by electric vehicles (EVs). Electric motorcycles and electric scooters are popular across the continent as they are portable, easy to use, and contribute to achieving the zero-carbon goal. Egypt and Morocco are also popular travel destinations for foreign tourists. The demand for e-scooters is being driven by tourists who rent them for local transportation and adventures. African tourism has returned to its pre-Covid trend and is expected to affect the sales of sustainability mobility due to the government’s emphasis on sustainability and productivity.
Spread through 208 pages, the “Africa Electric Two-Wheeler Market” report includes an in-depth TOC, over 116 market data figures, the latest market developments, key drivers and opportunities, and a thorough study of major company profiles. Moreover, the report also offers strategic recommendations, pricing analysis, market share analysis, and value chain analysis in detail.
Key Takeaways:
- Africa has a higher rate of urbanization than other developing economies with more potential for global brands. The rapid growth of the population is putting pressure on current transport and infrastructure, fuelling market growth.
- The government’s initiative to promote the use of electric vehicles (EVs) has led to an increase in research and development (R&D) programs across the continent. The government’s priority is to encourage the use of high-tech charging stations to enhance the experience of electric two-wheelers.
- New players entering the African two-wheeler market with cutting-edge battery systems with innovative technology are expected to contribute to the growth of the market over the next few years. Fast charging and lightweight technology are expected to improve the future ofelectric two-wheelers.
Africa Electric Two-Wheeler Market is Segmented in the Following Categories:
By Vehicle Type: Motorcycle and Scooter/Mopeds
By Battery Type: Lead Acid, Lithium-ion, and Other
By Battery Voltage: Up-to 24V, 25V-60V, 60V, and Above
By Application: Commercial and Personal
By Distribution Channel: Online and Offline (Original Equipment Manufacturers (OEMs), Distributors, Retailers)
By Countries: South Africa, Egypt, Nigeria, Morocco, Kenya, Ghana, Tanzania, Ethiopia, Mozambique, DR Congo, and Rest of Africa
The market segmentation by battery type in Africa is as follows: Sealed lead acid, Li-ion, and other battery types. Lithium-ion leads the market with a revenue share of 56.05 % in 2023 FY. Liquid-sealed lithium battery leads with its properties such as reliability, portability, and low maintenance. The cost-effective leak-proof construction requires no special precautions that enhance electric scooter handling. As a result, the range of an electric motorcycle or scooter can be extended on a single charge, allowing the rider to travel for extended distances. The lighter weight of the battery improves the handling and performance of the two-wheeler. This enhances maneuverability and agility as well without losing power.
Major companies operating in Africa Electric Two-Wheeler Market include:
· Roam Air
· Arc Ride
· Spiro
· Zembo Motorcycle Ltd.
· Ampersand USA Inc.
· Volta Motor Bikes
· VMoto Limited
· TVS Motor Company
· Mazi Mobility
· Bajaj Auto Limited
There is a mix of domestic and international players in the African electric two-wheeler market. Domestic players are focused on establishing their manufacturing facilities along with partnerships and government tender processes. On the other hand, the international players are focused on bringing in new battery technology to the market that offers efficiency, power and increased range to the scooter and the motorcycle.
For instance, in July 2023, Roam’s first Roam Hub was opened in the Kenyan city of Nairobi. The hub is a multi-purpose charging station for electric motorcycles. It acts as an ecosystem for drivers, offering public access to charging and rental services while they are on the road. The charging stations are equipped with spare parts and have trained technicians to carry out maintenance and repair work.
“Africa Electric Two-Wheeler Market Assessment, FY2017-FY2031F” evaluates the future growth potential of Africa electric two-wheeler market and provides statistics & information on market size, structure, and future market growth. The report intends to provide cutting-edge market intelligence and help decision-makers make investment decisions for their organizations more strategically. Moreover, the report identifies and examines the emerging trends along with key drivers, challenges, and opportunities in the Africa electric two-wheeler market.
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