Middle East and Africa Electric Three-Wheeler Market 2027

1. 2017 – 2027 MIDDLE EAST AND AFRICA ELECTRIC THREE-WHEELER MARKET FORECAST & OPPORTUNITIES www.techsciresearch.com MARKET INTELLIGENCE . CONSULTING

2. Scope of Report Product of Interest (POI): Electric Three-Wheeler A three-wheeler is a vehicle with three wheels. Some are motorized tricycles, which may be legally classed as motorcycles, while others are tricycles without a motor, some of which are human-powered vehicles and animal-powered vehicles. Market Segmentation Year Range COUNTRY VEHICLE TYPE Saudi Arabia Passenger Carrier ▪ ▪ Load Carrier ▪ United Arab Emirates Review Period ▪ Israel ▪ 2017 – 2020 Algeria ▪ BATTERY CAPACITY Egypt ▪ Base Year <101Ah Oman ▪ ▪ 2021 >101Ah ▪ South Africa ▪ Iran ▪ Estimated Year Iraq ▪ BATTERY TYPE 2022 Nigeria ▪ Lead Acid ▪ Forecast Period Lithium Ion ▪ 2023 – 2027 2

3. Table of Contents S. No. Contents Page No. Product Overview (A brief description of the category and product inclusions considered under the scope of the study to give clear picture to the client about the product of interest.) Research Methodology (A detailed methodology on how we have derived the market related information and what are the measures that has been taken to validate the data.) 1. 2. 3. Executive Summary 4. Impact of COVID-19 on Middle East and Africa Electric Three-Wheeler Market 5. Voice of Customer Middle East and Africa Electric Three-Wheeler Market Outlook, 2017-2027F (This chapter includes a brief overview of the product of interest market such as total market’s growth rate, expected growth rate, key growth levers, leading region, top grossing product types, etc. It includes more of a qualitative information about the market.) 6. Market Size & Forecast (This chapter would include the market size i.e., the revenue generated from the Middle East and Africa electric three-wheeler Market in one year. In this case, the market size will be provided in value terms for historic period (2017-2020); current/base year (2021); estimated year (2022E); and forecast (2023-2027)) 6.1. 6.1.1. By Value & Volume 6.2. Market Share & Forecast 6.2.1. By Vehicle Type (Passenger Carrier & Load Carrier) 6.2.2. By Battery Capacity (<101Ah & >101Ah) 6.2.3. By Battery Type (Lead Acid & Lithium Ion) 6.2.4. By Country 6.2.5. By Company (2021) 6.3. Product Market Map 3

4. Table of Contents S. No. Contents Page No. 7. Saudi Arabia Electric Three-Wheeler Market Outlook, 2017-2027F 7.1. Market Size & Forecast 7.1.1. By Value & Volume 7.2. Market Share & Forecast 7.2.1. By Vehicle Type 7.2.2. By Battery Capacity 7.2.3. By Battery Type 8. UAE Electric Three-Wheeler Market Outlook, 2017-2027F 8.1. Market Size & Forecast 8.1.1. By Value & Volume 8.2. Market Share & Forecast 8.2.1. By Vehicle Type 8.2.2. By Battery Capacity 8.2.3. By Battery Type 9. Israel Electric Three-Wheeler Market Outlook, 2017-2027F 9.1. Market Size & Forecast 9.1.1. By Value & Volume 9.2. Market Share & Forecast 9.2.1. By Vehicle Type 9.2.2. By Battery Capacity 9.2.3. By Battery Type 4

5. Table of Contents S. No. Contents Page No. 10. Algeria Electric Three-Wheeler Market Outlook, 2017-2027F 10.1. Market Size & Forecast 10.1.1. By Value & Volume 10.2. Market Share & Forecast 10.2.1. By Vehicle Type 10.2.2. By Battery Capacity 10.2.3. By Battery Type 11. Egypt Electric Three-Wheeler Market Outlook, 2017-2027F 11.1. Market Size & Forecast 11.1.1. By Value & Volume 11.2. Market Share & Forecast 11.2.1. By Vehicle Type 11.2.2. By Battery Capacity 11.2.3. By Battery Type 12. Oman Electric Three-Wheeler Market Outlook, 2017-2027F 12.1. Market Size & Forecast 12.1.1. By Value & Volume 12.2. Market Share & Forecast 12.2.1. By Vehicle Type 12.2.2. By Battery Capacity 12.2.3. By Battery Type 5

6. Table of Contents S. No. Contents Page No. 13. South Africa Electric Three-Wheeler Market Outlook, 2017-2027F 13.1. Market Size & Forecast 13.1.1. By Value & Volume 13.2. Market Share & Forecast 13.2.1. By Vehicle Type 13.2.2. By Battery Capacity 13.2.3. By Battery Type 14. Iran Electric Three-Wheeler Market Outlook, 2017-2027F 14.1. Market Size & Forecast 14.1.1. By Value & Volume 14.2. Market Share & Forecast 14.2.1. By Vehicle Type 14.2.2. By Battery Capacity 14.2.3. By Battery Type 15. Iraq Electric Three-Wheeler Market Outlook, 2017-2027F 15.1. Market Size & Forecast 15.1.1. By Value & Volume 15.2. Market Share & Forecast 15.2.1. By Vehicle Type 15.2.2. By Battery Capacity 15.2.3. By Battery Type 6

7. Table of Contents S. No. Contents Page No. 16. Nigeria Electric Three-Wheeler Market Outlook, 2017-2027F 16.1. Market Size & Forecast 16.1.1. By Value & Volume 16.2. Market Share & Forecast 16.2.1. By Vehicle Type 16.2.2. By Battery Capacity 16.2.3. By Battery Type 17. Market Dynamics Drivers 17.1. Challenges 17.2. Market Trends & Developments 18. Product Benchmarking 19. Competitive Landscape 20. Company Profiles 20.1. 20.1.1. Company Details 20.1.2. Products & Services 20.1.3. Financials (As Reported) 20.1.4. Key Market Focus & Geographical Presence 20.1.5. Recent Developments 20.1.6. Key Management Personnel 7

8. Table of Contents S. No. Contents Page No. 21. Strategic Recommendations 22. About Us & Disclaimer 8

9. RESEARCH RESEARCH METHODOLOGY METHODOLOGY

10. Research Methodology Market Profiling Data Analysis Data Data Developing List of Respondents Formulating Questionnaire Collection Validation In-depth secondary research was conducted to determine top players in the Middle East and Africa electric three-wheeler Market, overall market size and segmental market size. The data was scrutinized using MS-Excel, statistical tools and internal proprietary database to obtain qualitative and quantitative insights about the Middle East and Africa electric three-wheeler Market. Data obtained as a result of primary and secondary research was validated through rigorous triangulation. TechSci conducted interviews with industry experts and industry players for data collection and verification. In order to conduct industry experts’ interviews, TechSci formulated a detailed discussion guide. List of industry players and industry specialists was developed. Primary Research Desk Research Company Analysis ✓ ✓ Recent Developments Market Changing Aspects/Dynamics Government Policies Conclusion ✓ ✓ Market Participants Key Strengths ✓ Identifying Key Opinion Leaders Questionnaire Design In-depth Interviews Actionable Insights Data Filter & Analysis Business Solution Research & Intelligence Data Collection ✓ ✓ ✓ ✓ Primary Research Secondary Research Paid Sources LinkedIn TechSci Internal Database Company Websites Company Annual Reports White Paper Study Financial Reports Investor Presentations Regulatory Body Associations, etc. Factiva Hoovers ✓ ✓ ✓ ✓ ✓ ✓ ✓ ✓ ✓ ✓ ✓ 10

11. Research Methodology Baseline Methodology Our dedicated team of industry experts has monitored and analyzed various aspects of Middle East and Africa electric three-wheeler Market. The team has analyzed the outlook of various segments of this market, while considering the major influencing factors such as increasing demand for last mile connectivity and growing population are contributing to the increasing demand for electric three-wheeler. The study includes market forecasting, which would enable our clients to take better decisions while planning their strategy to achieve sustainability in Middle East and Africa electric three-wheeler Market. Methodology Followed for Calculation of Market Size: Market Size by Value & Volume: Market size, in terms of value & volume, for the year 2021 was calculated based on information collected • through exhaustive secondary research and primary surveys, with various key opinion leaders/stakeholders, such as electric three-wheeler Market companies, suppliers, channel partners, end User, industry experts, and other industry participants. The team interviewed more than 40 – 50 electric three-wheeler Market companies, suppliers, 180 – 200 end user, 15 – 20 industry experts and • other value chain stakeholders in the Middle East and Africa electric three-wheeler Market to obtain the overall market size from 2017 to 2021, which was validated by the Delphi technique. Taking standard deviation into consideration, the market size was averaged out, to arrive at the market size data during 2017-2021. 11

12. Research Methodology Respondents were asked about the current and future market growth rates, market shares by vehicle type, by battery capacity, by battery • type, by country and by company. Removing the outlier responses, the geometric mean of growth estimates and supplier wise revenue shares generated across various segments were considered, to arrive at the final revenue shares. Revenue shares generated across various segments were further triangulated from other stakeholders. Methodology Followed for Calculation of Market Shares: Market shares by vehicle type, by battery capacity, by battery type, by country and by company were calculated based on the responses • received through primary surveys with industry experts, in which the respondents were asked about the market shares or revenue generated from various segments of electric three-wheeler Market. The final shares were calculated by taking the geometric mean of the responses gathered from key opinion leaders after eliminating the outliers. Methodology Followed for Forecasting: TechSci Research performed periodical checks on data collected through the surveys with logic checks and analyzed the survey results in • SPSS/Tableau Software. Data triangulation techniques were applied to fill the gaps and to present a more meaningful picture of the market. To forecast Middle East • and Africa electric three-wheeler Market, TechSci Research used various forecast techniques such as: Moving Average ✓ Time Series Analysis ✓ Regression Analysis ✓ Econometric and Judgmental Analysis ✓ 12

13. Research Methodology TechSci Research used its own forecast tool, which is based on the growth of various allied industries in respective regions. TechSci Research also used the impact analysis during short, medium and long term period to estimate the demand and to reach accurate market numbers. It should be noted that the figures compiled are only for the organized market including market share data. Partial List of Companies Interviewed Key Secondary Sources ChongQing Zongshen Tricycle Manufacturing Co., World Bank ▪ ▪ Ltd. TechSci Research Proprietary Database & Knowledge ▪ NINGBO DOWEDO INTERNATIONAL TRADE Repository ▪ CO.,LTD Company Annual Reports ▪ Xianghe Qiangsheng Electric Tricycle Factory Industry Magazines ▪ ▪ Hero Electric Vehicles Pvt Ltd. Industry Reports ▪ ▪ Terra Motors India Corp. Statista ▪ ▪ Clean Motion News Dailies ▪ ▪ Lohia Auto Industries Credible Paid Databases ▪ ▪ Kinetic Green Energy & Power Solutions Ltd. ▪ Saera Electric Auto Pvt. Ltd ▪ 13

14. Industry Brief Growing adoption of emission-free vehicles drive the Middle East and Africa electric three-wheeler market growth in the forecast period, 2023-2030F. According to TechSci Research report, “Middle East and Africa Electric Three-Wheeler Market - By Country, Competition, Forecast and Opportunities, 2017- 2030F” The Middle East and Africa electric three-wheeler market value in the year 2021 was USD15,748.91 thousand, which is anticipated to grow with a CAGR of 14.38% during the forecast period 2023-2030F, to achieve the market value of USD50,808.07 thousand by 2030F. The market is anticipated to grow on account of surging demand for fuel-efficient transportation and public commuting vehicles. Recent decade has been inclining toward the use of fuel-efficient and green fuel adaptation to save the environment. Growing concerns regarding degradation of the environment is a major factor driving the growth of the Middle East and Africa electric three-wheeler market in the upcoming five years. Adverse conditions of environmental degradation include depleting natural fuels and non-renewable energy resources. Decreasing levels of the natural resources are to the scarcity level where the threat of these natural resources getting extinct is real. Thus, the consumers and the government worldwide are actively invested in the adoption of green fuel and electric vehicles adoption. Rising investment in the electric battery charging infrastructure for the recharging of these electric vehicles further supports the growth of the Middle East and Africa electric three- wheeler market in the next five years. Cost of fuel is a global concern, and the demand to reduce the cost or find alternatives for non-renewable fuel further influences the growth of the market. Governments all around the world are actively promoting the use of electric vehicles to inflict the diversion from over consumption of petroleum products. Use of public transport, electric vehicles, lightweight commercial vehicles running on the battery are rapidly gaining popularity and with aided help from the government, they are anticipated to substantiate the growth of the Middle East and Africa electric three-wheeler market in the future five years. The Middle East and Africa electric three-wheeler market is segmented by vehicle type, battery capacity, battery type, country-wise analysis, and competitional landscape. Based on vehicle type, the market is bifurcated into passenger carrier and load carrier. Load carrier vehicles are anticipated to hold the largest revenue shares of the market and dominate the market segment in the upcoming five years on account of increasing demands from the transportation sector. Higher freight movement and growing demand for the cost-efficient fright movement further drive the growth of the segment and the growth of the Middle East and Africa electric three-wheeler market in the next five years. Passenger carriers are also expected to show substantial growth in recent years, growing on the backbone of the growing demand for short-distance travels. Based on battery type, the market is distributed between lead acid and lithium acid. Lead acid battery segment is anticipated to hold the largest revenue shares of the market and dominate the market segment in the upcoming five years on the ground of easily chargeable batteries' availability. Growing charging infrastructure and rising adoption of the technologically advanced automobile are further anticipated to aid the growth of the Middle East and Africa electric three-wheeler market in five years. By battery capacity, the market is distinguished between less than 101Ah and more than 101Ah. A partial list of market players holding major revenue shares of the Middle East and Africa electric three-wheeler market include Chongqing Zongshen Vehicle Co., Ltd (Zongshen Industrial Group Co. Ltd), Saera Electric Auto Pvt. Ltd. (Mayuri), Kinetic Green Energy & Power Solutions Ltd., Jiangsu Jinpeng Group Co., Ltd., Jiangsu Yufeng Vehicle Industry Co., Ltd., Ningbo Dowedo International Trade Co., Ltd, Xianghe Qiangsheng Electric Tricycle Factory, Terra Motors Corporation, Piaggio Commercial SA (PTY) Ltd, Jiangsu East Yonsland Vehicle Manufacturing Co., Ltd “United Arab Emirates and Egypt were leading the Middle East and Africa electric three-wheeler market in 2017. The domination of the country is anticipated to be taken over by Turkey by 2030F due to a sudden drop in revenues of UAE in 2021. Sales of commercial vehicles in the UAE dropped considerably and resulted in slowing the growth of the market. The government of Egypt placed a complete ban on three-wheelers and their imports and replaced the market with CNG minivans. Turkey is expected to facilitate its growth through 2030 on the grounds of the rapid adaption of electric vehicles in the country. Moreover, the government in the country has reduced the tax incentives imposed on electric vehicles. Only 45% tax is charged over the hybrid and electric vehicles in the country instead of the earlier 90% tax values. Increasing the establishment of the charging infrastructure and favorable schemes and plans would further push forward the growth of the market in the country. New market players entering the market may focus on technological advancement and increasing the production of electric & hybrid electric three-wheelers. Demands for the electric vehicles are anticipated to expedite in future years, thus supporting the new market players in the brand establishment,” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm. 14

15. Sample Data - Snapshot Middle East and Africa Electric Three-Wheeler Market Size, By Value (USD Million) & By Volume (Thousand Units), 2017–2027F 15.00 110.00 14.00 100.00 13.00 90.00 12.00 80.00 11.00 70.00 10.00 60.00 9.00 50.00 8.00 40.00 7.00 30.00 6.00 20.00 5.00 10.00 2017 2021 2022E 2027F CAGR By Value & Volume XX% CAGR By Value & Volume YY% By Value (USD Million) By Volume (Thousand Units) Middle East and Africa Electric Three-Wheeler Market Share, By Vehicle Type, By Volume, 2017–2027F Load Carrier 50% 50% 50% 50% 50% 50% 50% 50% 50% 50% 50% 50% 50% 50% 50% 50% 50% 50% 50% 50% 50% 50% Passenger Carrier 2017 2018 2019 2020 2021 2022E 2023F 2024F 2025F 2026F 2027F UAE Electric Three-Wheeler Market Share, By Battery Capacity, By Volume, 2017–2027F 50% 50% 50% 50% 50% 50% 50% 50% 50% 50% 50% >101Ah 50% 50% 50% 50% 50% 50% 50% 50% 50% 50% 50% <101Ah 2017 2018 2019 2020 2021 2022E 2023F 2024F 2025F 2026F 2027F 15

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