Africa Electric Three Wheeler Market to Exhibit Double Digit CAGR until 2023
Rising fuel prices, increasing pollution levels and
various advantages such as economical
pricing and ease of maintenance associated with electric three-wheelers to fuel
Africa electric three-wheeler market through 2023
According to TechSci Research report, “Africa
Electric Three-Wheeler Market By Vehicle Type, By Battery Capacity, By
Battery Type, By Country, Competition Forecast & Opportunities, 2013-2023”, electric three-wheeler market in Africa is
forecast to grow at a CAGR of more than 16% during 2018 - 2023. The
double-digit growth in the market is expected to be aided by government efforts
aimed at encouraging the use of clean fuel vehicles amid rising pollution
levels across the region. Moreover, rising fuel prices, technological advancements,
increasing research & development activities, low-cost maintenance of
electric three-wheelers as compared to traditional three-wheelers, and growing consumer
inclination towards electric vehicles are anticipated to have a positive impact
on the region’s three-wheeler market during the forecast period.
Browse 64 Figures spread through 78 Pages and an in-depth
TOC on "Africa Electric Three-Wheeler Market"
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Electric passenger carrier segment accounted for
the largest share in the region’s electric three-wheeler market in 2017 and the
trend is anticipated to continue in the coming years as well, on the back of
increasing consumer preference for these vehicles. Moreover, electric passenger
carriers are the widely accepted means of transportation in the region. Lead
acid battery is the most commonly used battery type in Africa electric
three-wheeler market, owing to its economical pricing and low
maintenance cost.
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“Over the coming years, consumer inclination
towards alternative fuel technology other than petrol, diesel, CNG, etc., is
anticipated to increase, owing to the rising prices of these fuels. Moreover, government
subsidies and incentives for buying electric vehicles, and growing presence and
widening product portfolios of various companies are further expected to boost
revenues for three-wheeler manufacturers operating in Africa during the
forecast period.”, said Mr. Karan Chechi, Research Director with TechSci
Research, a research based global management consulting firm.
“Africa Electric Three-Wheeler
Market By Vehicle Type, By
Battery Capacity, By Battery Type, By Country, Competition Forecast &
Opportunities, 2013-2023” has analyzed
the potential of electric three-wheeler
market across the region, and provides statistics and information on
market size, shares and trends. The report will suffice in providing the
intending clients with cutting-edge market intelligence and help them in taking
sound investment decisions. Besides, the report also identifies and analyzes
emerging trends along with essential drivers and key challenges faced by the
industry.
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