Egypt Electric Car Market 2022-2027

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    Published- Nov 2022

    Number Of Pages -106

    EGYPT ELECTRIC CAR MARKET

     

    KEY FINDINGS

    1. In 2021, The Egypt Electric Car Market reported sales volumes of XX units and generated revenue of $XX Million while the market is estimated with a CAGR of XX percent and will reach a sales volume of XX units by 2027.
    2. The average prices of EVs in the Egyptian market by various EV types are, BEVs at $xx, PHEVs at $xx and the hybrid segment is around $xx as of 2022.
    3. Since in Egypt, the price of fuel is cheap, customers are not preferring to get EVs, and thus at present EVs are being bought by customers from higher social classes; making government incentives a necessity.
    4. The major players in the Egyptian Electric Car Industry are Volvo, Toyota, BMW, Mercedes-Benz, Jaguar Land Rover, Porsche and Tesla.
    5. Other EV models in the market are from Chinese OEMs such as BYD, Chery, Changan and Xpeng.
    6. TWith Local OEM El Nasr entering the EV market with its E70 at a price of $20k, the market dynamics is likely to change significantly.
    7. The Egyptian government announced to subsidize the cost of the first 100k locally-produced cars to the tune of EGP 50k per vehicle, on the condition that the cars are able to cover over 400 km per charge.
    8. Egypt’s government plans to mass-produce electric passenger vehicles in 2023, with plans to reach nearly 100% locally sourced components.
    9. At present there are a total of xx charging stations, with most around Cairo and since the government plans to increase that, HEV will not grow as much by 2027. 
    10. Infinity-E which owns a majority of the charging stations in Egypt, with the government has plans to set up 6000 charging stations all across the country through an EGP 450($28.5) million scheme. 

     

    INTRODUCTION

    Electric mobility is the latest trend and development for the future of transportation all over the world. It is one of the innovations that changed the face of the future world in terms of power, comfort, noise, emission, etc.

     

    The first electric vehicle tested on Paris Street in 1881, but in early times the range, highly inefficient, resulted in a non-famous entity at that time.

     

    infographic: Egypt Electric Car Market, Egypt Electric Car Market Size, Egypt Electric Car Market Trends, Egypt Electric Car Market Forecast, Egypt Electric Car Market Risks, Egypt Electric Car Market Report, Egypt Electric Car Market Share

     

    General Motors after a long time introduced the first limited production electric vehicle to the modern world market. Before that, companies like Baker Motor Vehicle, Detroit Electric, etc. were introduced to electric vehicles in the early 1900s.

     

    US, UK, France, etc. developed countries were in the front row of developing electric vehicles, while Egypt came much later in the race of building their own EV by a joint venture between El Nasr Automotive Manufacturing Company and Chinese Company named Dongfeng Motor Corporation.

     

     

    EGYPT ELECTRIC CAR MARKET DYNAMICS

    For countries like Egypt Electric car market is new for their people, less than 1000 Electric cars are currently present on Egypt’s Road that too imported Models.

     

    The country has started to develop the technology for electric cars and vehicles, so companies are coming forward by joining ventures between foreign companies.

     

    The entry of electric cars will introduce other market opportunities to different segments of the market like Battery swapping stations, charging stations, battery manufacturers, motor manufacturers, etc.

     

    Due to new market, the Egypt has higher price of Electric cars as compared to conventional engine car, this factor is responsible for not able to attract the attention citizen, the reason for high electric cars prices because there is no local manufacturer present in current scenario and all cars are imported which increases the price of vehicle.

     

     

    EGYPT ELECTRIC CAR  MARKET SEGMENTATION

     

    By Type

    • Battery Electric Cars
    • Hybrid Electric Cars
    • Plug-In Hybrid Electric Cars

     

    By Power Output

    • < 150 kW
    • > 150 kW

     

     By Vehicle Cost

    • < $50k
    • > $50k

     

    IMPACT OF COVID IN EGYPT ELECTRIC CAR MARKET

    COVID has affected the production and development process all over the world. The countries which were trying to develop the next generation technology for the development of their country also experienced the back lag in their domain.

     

    The governments are providing the help from their end whosoever needs to overcome this sudden wall of financial and social problems. As most of the countries have decided to reduce their carbon emission by 2030, every country is trying their best to introduce the non – conventional vehicle to the public market and to attract them they are trying every possible method.

     

    infographic: Egypt Electric Car Market, Egypt Electric Car Market Size, Egypt Electric Car Market Trends, Egypt Electric Car Market Forecast, Egypt Electric Car Market Risks, Egypt Electric Car Market Report, Egypt Electric Car Market Share

     

    EGYPT ELECTRIC CAR MARKET SIZE AND FORECAST

    The Egypt Electric Car Market is estimated to be US $ XX Billion in 2021 and expected to grow at a CAGR of XX% by 2027.

     

    As a new growing market it has the potential to attract the customer locally and globally as it is the second largest market in Africa. The foreign company’s investment and joint venture has a lot of scope in future for overall electric vehicle manufacture, the mass scale production of electric cars is expected to start from 2022 by joint venture of Dongfeng Motor Corporation and Al Nasr Automotive Manufacturing Company, the company has already started testing the prototype for the same. Since China is one of the biggest manufacturers and suppliers of Electric vehicles in the world.

     

    The Egyptian government and companies are signing MoUs with China based companies for battery technology, motor technology, etc. to develop the vehicle in the starting phase. As the imported electric car has a higher price range after including overall selling cost. This is the main dis – advantage of electric cars which has to be overcome by the government.

     

    The development of electric cars in the country will also develop the auxiliary industry in the country as the first company for charging infrastructure like Infinity – E.

     

    The country has also decided to install thousands of charging stations across the country to promote the electric car. It is also advantageous for new startups to come to the Egyptian market. The foreign company also has some potential to introduce their new model in the Egyptian market of Egypt.

     

     

    MAJOR PLAYERS IN EGYPT ELECTRIC CAR MARKET

    S.No Company Name Established Country
    1 BMW 1916 Munich, Germany
    2 Tesla  2003 United States
    3 Toyota 1937 Aichi, Japan
    4 Volvo 1927 Sweden
    5 Mercedes-Benz 1926 Stuttgart, Germany
    6 Jaguar Land Rover 2008 Coventry, United Kingdom
    7 Porsche 1931 Stuttgart, Germany
    8 Infinity 2011 Egypt
    9 Revolta 2018 Egypt

     

    THIS EGYPT ELECTRIC CAR MARKET REPORT WILL ANSWER FOLLOWING QUESTIONS

    1. Egypt Electric Car Market size and Forecast, by region, by application
    2. Average B-2-B price for Egypt Electric Car Market, by region, per user
    3. Technology trends and related opportunity for new Egypt Electric Car Market tech suppliers
    4. Egypt Electric Car Market share of leading vendors, by region,
    5.  Coronavirus impact on Egypt Electric Car Market earnings
    Sl no Topic
    1 Market Segmentation
    2 Scope of the report
    3 Abbreviations
    4 Research Methodology
    5 Executive Summary
    6 Introduction
    7 Insights from Industry stakeholders
    8 Cost breakdown of Product by sub-components and average profit margin
    9 Disruptive innovation in the Industry
    10 Technology trends in the Industry
    11 Consumer trends in the industry
    12 Recent Production Milestones
    13 Component Manufacturing in US, EU and China
    14 COVID-19 impact on overall market
    15 COVID-19 impact on Production of components
    16 COVID-19 impact on Point of sale
    17 Market Segmentation, Dynamics and Forecast by Geography, 2022-2027
    18 Market Segmentation, Dynamics and Forecast by Product Type, 2022-2027
    19 Market Segmentation, Dynamics and Forecast by Application, 2022-2027
    20 Market Segmentation, Dynamics and Forecast by End use, 2022-2027
    21 Product installation rate by OEM, 2022
    22 Incline/Decline in Average B-2-B selling price in past 5 years
    23 Competition from substitute products
    24 Gross margin and average profitability of suppliers
    25 New product development in past 12 months
    26 M&A in past 12 months
    27 Growth strategy of leading players
    28 Market share of vendors, 2022
    29 Company Profiles
    30 Unmet needs and opportunity for new suppliers
    31 Conclusion
    32 Appendix

     

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