Middle East & Africa Low-Speed Electric Vehicle Market Forecast to 2030
Middle East & Africa Low-Speed Electric Vehicle Market Forecast to 2030 – Regional Analysis – by Product (Passenger Vehicle and Utility Vehicle), End User (Golf Courses, Hotels & Resorts, Airports, Residential & Commercial, Premises, and Others), and Vehicle Type (Golf Carts, Commercial Turf Utility Vehicles, Industrial Utility Vehicles, and Personal Mobility Vehicles)
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Description
Advent of Lithium-ion Phosphate and Sodium-ion Batteries for Electric Vehicles Fuels Middle East & Africa Low-Speed Electric Vehicle Market
Lithium-ion batteries are commonly used in the production of electric vehicles. However, the rising concern about the shortage of lithium is pushing the industry towards using lithium-ion phosphate and sodium-ion batteries. Lithium-ion phosphate is gaining momentum as an essential electric vehicle battery material in the automotive industry, with a prime focus on producing affordable electric vehicles. In 2023, Ford collaborated with CATL to set up a 35 GWh (gigawatt-hour) lithium-ion phosphate cell manufacturing factory in Michigan. In addition, sodium-ion batteries are equipped with faster charging times and can register a longer lifespan than lithium-ion batteries. In addition, sodium-ion technology has been gaining popularity across the region, with few companies working towards commercializing it for electric vehicle applications. Thus, the advent of lithium-ion phosphate and sodium-ion batteries for electric vehicles is likely to fuel the low-speed electric vehicle market during the forecast period.
Middle East & Africa Low-Speed Electric Vehicle Market Overview
The growing concern toward mitigating the environmental pollution caused by fossil fuel-driven vehicles is one of the major driving factors for the low-speed electric vehicles market in the Middle East & Africa. The UAE, Saudi Arabia, and South Africa are among the key countries in the Middle East & Africa for the low-speed electric vehicle market. The net-zero emission target of different countries is also boosting the adoption of electric vehicles. The increasing government focus on the development of electric vehicle infrastructure in response to the growing number of electric vehicles charging stations, battery swapping stations, and proper battery maintenance and repair stations are factors primarily driving the low-speed electric vehicle market in the Middle East & Africa. Government incentives and support policies to boost the adoption of electric vehicles are further influencing the development of low-speed electric vehicles in the Middle East & Africa. The urge for a sustainable and greener approach toward lowering the level of carbon emissions is boosting the growth of the low-speed electric vehicle market.
Middle East & Africa Low-Speed Electric Vehicle Market Revenue and Forecast to 2030 (US$ Million)
Middle East & Africa Low-Speed Electric Vehicle Market Segmentation
The Middle East & Africa low-speed electric vehicle market is bifurcated based on product, end user, vehicle type, and country. Based on product, the Middle East & Africa low-speed electric vehicle market is bifurcated into passenger vehicle and utility vehicle. The passenger vehicle segment held a larger market share in 2022.
In terms of end user, the Middle East & Africa low-speed electric vehicle market is segmented into golf courses, hotels & resorts, airports, residential & commercial, premises, and others. The golf courses segment held the largest market share in 2022.
By vehicle type, the Middle East & Africa low-speed electric vehicle market is segmented into golf carts, commercial turf utility vehicles, industrial utility vehicles, and personal mobility vehicles. The golf carts segment held the largest market share in 2022.
Based on country, the Middle East & Africa low-speed electric vehicle market is segmented into South Africa, Saudi Arabia, the UAE, and the Rest of Middle East & Africa. Saudi Arabia dominated the Middle East & Africa low-speed electric vehicle market share in 2022.
Drake Golf Carts CC, Yamaha Motor Co Ltd, Green Scooter (Pty) Ltd, Xiamen Dalle Electric Car Co Ltd, Renault SA, Deere & Co, Mobi G Industries (Pty) Ltd, National Golf Carts (Pty) Ltd, Tektem Makina Sanayi ve Ticaret, Musoshi, and Golf International Turizm Insaat Tarim Ve Ticaret Ltd Sirketi are some of the leading companies operating in the Middle East & Africa low-speed electric vehicle market.
Summary Info
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According to the Research Team’ research, the Middle East & Africa low-speed electric vehicle market was valued at US$ 140.99 million in 2022 and is expected to reach US$ 188.82 million by 2030, registering a CAGR of 3.7% from 2022 to 2030. Growing concerns regarding greenhouse gas emission and rising affordability of electric vehicles are among the critical factors attributed to the Middle East & Africa low-speed electric vehicle market expansion.
A key contributor of GHG (greenhouse gas) emissions that lead to climate change is fossil fuel-driven vehicles. Hence, the utilization of electric vehicles is increasing due to the rising need for vehicles that are sustainable and provide minimalzero carbon emission, growing climate change concerns, and government initiatives toward mitigating the usage of fossil fuels across the globe. Governments of various nations realize the significance of switching to the electrification of devices and vehicles to meet the future low to zero carbon emission targets. Middle Eastern governments have taken initiatives to reduce emissions. The UAE plans to attain net zero emissions by 2050, and Saudi Arabia and Bahrain have committed to doing so by 2060. The rising use of electric vehicles can help control the air pollution caused by fossil fuels as they do not emit any carbon or other harmful emissions. For road transport, low-speed vehicles are utilized in airports, resorts, golf courses, or any other private premises, contributing substantially to environmental pollution. EVs help reduce pollution, thereby allowing countries to meet the net zero carbon emission targets. Thus, the growing concerns regarding greenhouse gas emissions and environmental pollution are boosting the demand for electric vehicles, which drives the Middle East & Africa low-speed electric vehicles market.
On the contrary, operational limitations of battery-operated electric vehicles hamper the growth of Middle East & Africa low-speed electric vehicle market.
Based on product, the Middle East & Africa low-speed electric vehicle market is bifurcated into passenger vehicle and utility vehicle. The passenger vehicle segment held 59.4% market share in 2022, amassing US$ 83.80 million. It is projected to garner US$ 109.25 million by 2030 to expand at 3.4% CAGR during 2022-2030.
In terms of end user, the Middle East & Africa low-speed electric vehicle market is categorized into golf courses, hotels & resorts, airports, residential & commercial, premises, and others. The golf courses segment held 47.6% share of Middle East & Africa low-speed electric vehicle market in 2022, amassing US$ 67.15 million. It is projected to garner US$ 88.31 million by 2030 to expand at 3.5% CAGR during 2022-2030.
By vehicle type, the Middle East & Africa low-speed electric vehicle market is categorized into golf carts, commercial turf utility vehicles, industrial utility vehicles, and personal mobility vehicles. The golf carts segment held 43.7% share of Middle East & Africa low-speed electric vehicle market in 2022, amassing US$ 61.64 million. It is projected to garner US$ 77.87 million by 2030 to expand at 3.0% CAGR during 2022-2030.
Based on country, the Middle East & Africa low-speed electric vehicle market has been categorized into South Africa, Saudi Arabia, the UAE, and the Rest of Middle East & Africa. Our regional analysis states that Saudi Arabia captured 28.9% share of Middle East & Africa low-speed electric vehicle market in 2022. It was assessed at US$ 40.69 million in 2022 and is likely to hit US$ 55.82 million by 2030, exhibiting a CAGR of 4.0% during 2022-2030.
Key players operating in the Middle East & Africa low-speed electric vehicle market are Drake Golf Carts CC, Yamaha Motor Co Ltd, Green Scooter (Pty) Ltd, Xiamen Dalle Electric Car Co Ltd, Renault SA, Deere & Co, Mobi G Industries (Pty) Ltd, National Golf Carts (Pty) Ltd, Tektem Makina Sanayi ve Ticaret, Musoshi, and Golf International Turizm Insaat Tarim Ve Ticaret Ltd Sirketi, among others.
In July 2021, Pinehurst Resort Enters Long-Term Agreement with John Deere.
o Highlights key business priorities in order to assist companies to realign their business strategies
o The key findings and recommendations highlight crucial progressive industry trends in the Middle East & Africa low-speed electric vehicle market, thereby allowing players across the value chain to develop effective long-term strategies
o Develop modify business expansion plans by using substantial growth offering developed and emerging markets
o Scrutinize in-depth Middle East & Africa market trends and outlook coupled with the factors driving the Middle East & Africa low-speed electric vehicle market, as well as those hindering it
o Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to client products, segmentation, pricing, and distribution
TABLE OF CONTENTS
1.1 the Research Team Research Report Guidance
1.2 Market Segmentation
2. Executive Summary
2.1 Key Insights
2.2 Market Attractiveness
3. Research Methodology
3.1 Coverage
3.2 Secondary Research
3.3 Primary Research
4. Middle East & Africa Low-Speed Electric Vehicles Market Landscape
4.1 Overview
4.2 PEST Analysis
4.3 Ecosystem Analysis
4.3.1 Raw Material Suppliers/Component Suppliers:
4.3.2 Low-Speed Electric Vehicles Manufacturers:
4.3.3 End Users:
5. Middle East & Africa Low-Speed Electric Vehicles Market – Key Industry Dynamics
5.1 Market Drivers
5.1.1 Growing Concerns Regarding Greenhouse Gas Emission
5.1.2 Increasing Government Support for Electric Vehicles
5.1.3 Rising Affordability of Electric Vehicles
5.1.4 Phasing Out of Internal Combustion Engines
5.2 Restraints
5.2.1 Operational Limitations of Battery-operated Electric Vehicles
5.2.2 High Initial Expenditure
5.3 Opportunities
5.3.1 Usage of Low-speed Electric Vehicles in Different Sectors
5.3.2 Increasing Job Opportunities in EV Manufacturing Facilities
5.4 Future Trends
5.4.1 Advent of Lithium-ion Phosphate and Sodium-ion Batteries for Electric Vehicles
5.5 Impact of Drivers and Restraints:
6. Low-Speed Electric Vehicles Market – Middle East & Africa Market Analysis
6.1 Middle East & Africa Low-Speed Electric Vehicles Market Revenue (US$ Million), 2022 – 2030
6.2 Middle East & Africa Low-Speed Electric Vehicles Market Forecast and Analysis
7. Middle East & Africa Low-Speed Electric Vehicles Market Analysis – Product
7.1 Overview
7.1.1 Middle East & Africa Low-Speed Electric Vehicles Market, by Product (2022 and 2030)
7.2 Passenger Vehicle
7.2.1 Overview
7.2.2 Passenger Vehicle Market, Revenue and Forecast to 2030 (US$ Million)
7.3 Utility Vehicle
7.3.1 Overview
7.3.2 Utility Vehicle Market, Revenue and Forecast to 2030 (US$ Million)
8. Middle East & Africa Low-Speed Electric Vehicles Market Analysis – End User
8.1 Overview
8.1.1 Low-Speed Electric Vehicles Market, by End User (2022 and 2030)
8.2 Golf Courses
8.2.1 Overview
8.2.2 Golf Courses Market Revenue, and Forecast to 2030 (US$ Million)
8.3 Hotels & Resorts
8.3.1 Overview
8.3.2 Hotels & Resorts Market Revenue, and Forecast to 2030 (US$ Million)
8.4 Airports
8.4.1 Overview
8.4.2 Airports Market Revenue, and Forecast to 2030 (US$ Million)
8.5 Residential & Commercial Premises
8.5.1 Overview
8.5.2 Residential & Commercial Premises Market Revenue, and Forecast to 2030 (US$ Million)
8.6 Others
8.6.1 Overview
8.6.2 Others Market Revenue, and Forecast to 2030 (US$ Million)
9. Middle East & Africa Low-Speed Electric Vehicles Market Analysis – Vehicle Type
9.1 Overview
9.1.1 Low-Speed Electric Vehicles Market, by Vehicle Type (2022 and 2030)
9.2 Golf Carts
9.2.1 Overview
9.2.2 Golf Carts Market Revenue, and Forecast to 2030 (US$ Million)
9.3 Commercial Turf Utility Vehicles
9.3.1 Overview
9.3.2 Commercial Turf Utility Vehicles Market Revenue, and Forecast to 2030 (US$ Million)
9.4 Industrial Utility Vehicles
9.4.1 Overview
9.4.2 Industrial Utility Vehicles Market Revenue, and Forecast to 2030 (US$ Million)
9.5 Personal Mobility Vehicles
9.5.1 Overview
9.5.2 Personal Mobility Vehicles Market Revenue, and Forecast to 2030 (US$ Million)
10. Middle East & Africa Low-Speed Electric Vehicles Market – Country Analysis
10.1 Middle East & Africa
10.1.1 Overview
10.1.2 Middle East & Africa Low-Speed Electric Vehicles Market Revenue and Forecasts and Analysis – By Country
10.1.2.1 Middle East & Africa Low-Speed Electric Vehicles Market Revenue and Forecasts and Analysis – By Country
10.1.2.2 South Africa Low-Speed Electric Vehicles Market Revenue and Forecasts to 2030 (US$ Mn)
10.1.2.2.1 South Africa Low-Speed Electric Vehicles Market Breakdown by Product
10.1.2.2.2 South Africa Low-Speed Electric Vehicles Market Breakdown by End User
10.1.2.2.3 South Africa Low-Speed Electric Vehicles Market Breakdown by Vehicle Type
10.1.2.3 Saudi Arabia Low-Speed Electric Vehicles Market Revenue and Forecasts to 2030 (US$ Mn)
10.1.2.3.1 Saudi Arabia Low-Speed Electric Vehicles Market Breakdown by Product
10.1.2.3.2 Saudi Arabia Low-Speed Electric Vehicles Market Breakdown by End User
10.1.2.3.3 Saudi Arabia Low-Speed Electric Vehicles Market Breakdown by Vehicle Type
10.1.2.4 UAE Low-Speed Electric Vehicles Market Revenue and Forecasts to 2030 (US$ Mn)
10.1.2.4.1 UAE Low-Speed Electric Vehicles Market Breakdown by Product
10.1.2.4.2 UAE Low-Speed Electric Vehicles Market Breakdown by End User
10.1.2.4.3 UAE Low-Speed Electric Vehicles Market Breakdown by Vehicle Type
10.1.2.5 Rest of Middle East & Africa Low-Speed Electric Vehicles Market Revenue and Forecasts to 2030 (US$ Mn)
10.1.2.5.1 Rest of Middle East & Africa Low-Speed Electric Vehicles Market Breakdown by Product
10.1.2.5.2 Rest of Middle East & Africa Low-Speed Electric Vehicles Market Breakdown by End User
10.1.2.5.3 Rest of Middle East & Africa Low-Speed Electric Vehicles Market Breakdown by Vehicle Type
11. Industry Landscape
11.1 Overview
11.2 Market Initiative
11.3 Product Development
11.4 Mergers & Acquisitions
12. Company Profiles
12.1 Drake Golf Carts CC
12.1.1 Key Facts
12.1.2 Business Description
12.1.3 Products and Services
12.1.4 Financial Overview
12.1.5 SWOT Analysis
12.1.6 Key Developments
12.2 Yamaha Motor Co Ltd
12.2.1 Key Facts
12.2.2 Business Description
12.2.3 Products and Services
12.2.4 Financial Overview
12.2.5 SWOT Analysis
12.2.6 Key Developments
12.3 Green Scooter (Pty) Ltd
12.3.1 Key Facts
12.3.2 Business Description
12.3.3 Products and Services
12.3.4 Financial Overview
12.3.5 SWOT Analysis
12.3.6 Key Developments
12.4 Xiamen Dalle Electric Car Co Ltd
12.4.1 Key Facts
12.4.2 Business Description
12.4.3 Products and Services
12.4.4 Financial Overview
12.4.5 SWOT Analysis
12.4.6 Key Developments
12.5 Renault SA
12.5.1 Key Facts
12.5.2 Business Description
12.5.3 Products and Services
12.5.4 Financial Overview
12.5.5 SWOT Analysis
12.5.6 Key Developments
12.6 Deere & Co
12.6.1 Key Facts
12.6.2 Business Description
12.6.3 Products and Services
12.6.4 Financial Overview
12.6.5 SWOT Analysis
12.6.6 Key Developments
12.7 Mobi G Industries (Pty) Ltd
12.7.1 Key Facts
12.7.2 Business Description
12.7.3 Products and Services
12.7.4 Financial Overview
12.7.5 SWOT Analysis
12.7.6 Key Developments
12.8 National Golf Carts (Pty) Ltd
12.8.1 Key Facts
12.8.2 Business Description
12.8.3 Products and Services
12.8.4 Financial Overview
12.8.5 SWOT Analysis
12.8.6 Key Developments
12.9 Tektem Makina Sanayi ve Ticaret AS
12.9.1 Key Facts
12.9.2 Business Description
12.9.3 Products and Services
12.9.4 Financial Overview
12.9.5 SWOT Analysis
12.9.6 Key Developments
12.10 Musoshi
12.10.1 Key Facts
12.10.2 Business Description
12.10.3 Products and Services
12.10.4 Financial Overview
12.10.5 SWOT Analysis
12.10.6 Key Developments
12.11 Golf International Turizm Insaat Tarim Ve Ticaret Ltd Sirketi
12.11.1 Key Facts
12.11.2 Business Description
12.11.3 Products and Services
12.11.4 Financial Overview
12.11.5 SWOT Analysis
12.11.6 Key Developments
13. Appendix
13.1 About the Research Team
13.2 Word Index
LIST OF TABLES
Table 1. Low-Speed Electric Vehicles Market Segmentation
Table 2. Middle East & Africa Low-Speed Electric Vehicles Market Revenue and Forecasts to 2030 (US$ Million)
Table 3. Middle East & Africa Low-Speed Electric Vehicles Market Revenue and Forecasts to 2030 (US$ Million) – Product
Table 4. Low-Speed Electric Vehicles Market Revenue and Forecasts to 2030 (US$ Million) – End User
Table 5. Low-Speed Electric Vehicles Market Revenue and Forecasts to 2030 (US$ Million) – Vehicle Type
Table 6. Middle East & Africa Low-Speed Electric Vehicles Market Revenue and Forecasts to 2030 (US$ Mn) – By Country
Table 7. South Africa Low-Speed Electric Vehicles Market Revenue and Forecasts to 2030 (US$ Mn) – Product
Table 8. South Africa Low-Speed Electric Vehicles Market Revenue and Forecasts to 2030 (US$ Mn) – End User
Table 9. South Africa Low-Speed Electric Vehicles Market Revenue and Forecasts to 2030 (US$ Mn) – Vehicle Type
Table 10. Saudi Arabia Low-Speed Electric Vehicles Market Revenue and Forecasts to 2030 (US$ Mn) – Product
Table 11. Saudi Arabia Low-Speed Electric Vehicles Market Revenue and Forecasts to 2030 (US$ Mn) – End User
Table 12. Saudi Arabia Low-Speed Electric Vehicles Market Revenue and Forecasts to 2030 (US$ Mn) – Vehicle Type
Table 13. UAE Low-Speed Electric Vehicles Market Revenue and Forecasts to 2030 (US$ Mn) – Product
Table 14. UAE Low-Speed Electric Vehicles Market Revenue and Forecasts to 2030 (US$ Mn) – End User
Table 15. UAE Low-Speed Electric Vehicles Market Revenue and Forecasts to 2030 (US$ Mn) – Vehicle Type
Table 16. Rest of Middle East & Africa Low-Speed Electric Vehicles Market Revenue and Forecasts to 2030 (US$ Mn) – Product
Table 17. Rest of Middle East & Africa Low-Speed Electric Vehicles Market Revenue and Forecasts to 2030 (US$ Mn) – End User
Table 18. Rest of Middle East & Africa Low-Speed Electric Vehicles Market Revenue and Forecasts to 2030 (US$ Mn) – Vehicle Type
Table 19. List of Abbreviation
LIST OF FIGURES
Figure 1. Low-Speed Electric Vehicles Market Segmentation, By Country
Figure 2. PEST Analysis
Figure 3. Ecosystem: Low-Speed Electric Vehicles Market
Figure 4. Low-Speed Electric Vehicles Market – Key Industry Dynamics
Figure 5. Impact Analysis of Drivers and Restraints
Figure 6. Middle East & Africa Low-Speed Electric Vehicles Market Revenue (US$ Million), 2022 – 2030
Figure 7. Middle East & Africa Low-Speed Electric Vehicles Market Share (%) – Product, 2022 and 2030
Figure 8. Passenger Vehicle Market Revenue and Forecasts to 2030 (US$ Million)
Figure 9. Utility Vehicle Market Revenue and Forecasts to 2030 (US$ Million)
Figure 10. Low-Speed Electric Vehicles Market, by End User (2022 and 2030)
Figure 11. Golf Courses Market Revenue and Forecasts to 2030 (US$ Million)
Figure 12. Hotels & Resorts Market Revenue and Forecasts to 2030 (US$ Million)
Figure 13. Airports Market Revenue and Forecasts to 2030 (US$ Million)
Figure 14. Residential & Commercial Premises Market Revenue and Forecasts to 2030 (US$ Million)
Figure 15. Others Market Revenue and Forecasts to 2030 (US$ Million)
Figure 16. Low-Speed Electric Vehicles Market, by Vehicle Type (2022 and 2030)
Figure 17. Golf Carts Market Revenue and Forecasts to 2030 (US$ Million)
Figure 18. Commercial Turf Utility Vehicles Market Revenue and Forecasts to 2030 (US$ Million)
Figure 19. Industrial Utility Vehicles Market Revenue and Forecasts to 2030 (US$ Million)
Figure 20. Personal Mobility Vehicles Market Revenue and Forecasts to 2030 (US$ Million)
Figure 21. Middle East & Africa Low-Speed Electric Vehicles Market, by Key Countries – Revenue (2022) (US$ Million)
Figure 22. Low-Speed Electric Vehicles Market Breakdown by Key Countries, 2022 and 2030 (%)
Figure 23. South Africa Low-Speed Electric Vehicles Market Revenue and Forecasts to 2030 (US$ Mn)
Figure 24. Saudi Arabia Low-Speed Electric Vehicles Market Revenue and Forecasts to 2030 (US$ Mn)
Figure 25. UAE Low-Speed Electric Vehicles Market Revenue and Forecasts to 2030 (US$ Mn)
Figure 26. Rest of Middle East & Africa Low-Speed Electric Vehicles Market Revenue and Forecasts to 2030 (US$ Mn)
The List of Companies – Middle East & Africa Low-Speed Electric Vehicle Market
1. Drake Golf Carts CC
2. Yamaha Motor Co Ltd
3. Green Scooter (Pty) Ltd
4. Xiamen Dalle Electric Car Co Ltd
5. Renault SA
6. Deere & Co
7. Mobi G Industries (Pty) Ltd
8. National Golf Carts (Pty) Ltd
9. Tektem Makina Sanayi ve Ticaret AS
10. Musoshi
11. Golf International Turizm Insaat Tarim Ve Ticaret Ltd Sirketi
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