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Africa ICE Three-Wheeler Market Assessment, By Fuel Type [Petrol/Diesel, CNG], By Engine Capacity [Less than 125cc, 126-250cc, 251-500cc, 501cc and Above], By Application [Private; Commercial-Service, Industrial], By Country, Opportunities, and Forecast, 2016-2030F
Market Report I 2024-04-19 I 122 Pages I Market Xcel - Markets and Data
Africa ICE Three-Wheeler Market will witness a CAGR of 5.32% during the forecast period between 2023 and 2030. The global three-wheeler market was valued at USD 8.41 billion in 2022 and will register a lower CAGR of 4.51% in value terms during the same period due to subdued growth of internal combustion engine powered three wheelers vis-a-vis electric three wheelers. Three-wheelers are frequently used for last mile passenger and cargo transportation. The demand for three-wheelers in the African region is further influenced by the need for faster and less expensive options for public and goods transportation in the numerous developing nations.
In order to address the growing demand and evolving needs of customers, manufacturers are expanding their range of three-wheeler vehicle models. For instance, the Alfa CNG three-wheeler passenger and cargo vehicles was introduced in April 2022 by Mahindra Electric Mobility Limited, India based Mahindra & Mahindra Ltd's subsidiary operating in Africa. A 395cm water-cooled engine that could provide 23.5 Nm of torque was used to propel the vehicle.
Increase in Fuel Prices
In many countries in Africa, three-wheeler engines are primarily powered by gasoline, CNG or diesel. The region's three-wheeler sales had been adversely impacted due to the high cost of fuel in several countries. The cost of fuel has significantly increased during the last three years. Furthermore, it is projected that prices would rise soon further due to the increased demand and restricted supply of crude oil from Russia due to the sanctions imposed.
Post lifting of restrictions imposed due to the pandemic and rapid recovery in global economic activity, prices of crude oil is anticipated to rise over the near term. Higher taxes will cause oil prices to rise rapidly further. Sales of three-wheelers powered by gasoline/CNG and diesel are expected to suffer in the near future as a result of the oil price increase. Rising fuel costs are inadvertently driving users' preference towards electric three-wheelers in the African region.
Increasing Popularity of Shared Mobility
Shared mobility services lessen traffic in urban areas and cut down on overall vehicle emissions. As a result, digitally enabled ride-hailing and car sharing efficiently manage transportation demands while also offering a convenient and sustainable alternative to owning a private vehicle. A single mobile app can manage the entire process of sharing and ride-hailing, from arranging a trip to making payments.
Ride-hailing services are anticipated to play a significant role in this market over the next few years by eliminating manual labour and lowering overall time and cost. The ICE Three-Wheeler Market in Africa is expected to grow because of this trend.
Impact of COVID-19 on Africa ICE Three-Wheeler Market
The COVID-19 caused a production standstill that hampered the sales of ICE three-wheeler market in Africa. The three-wheeler sector had been impacted by a mix of supply and demand concerns because most of the countries in and outside the African region had announced lockdown. Due to a unavailability of port infrastructure and workers, many three-wheeler manufacturing companies were unable to finish their export shipments nor import components. Additionally, even if some governments had not placed restrictions on the import and export of these goods, producers primarily concentrated on meeting domestic demand in order to reduce costs. These actions had severely disrupted import-export operations throughout Africa.
After experiencing the shocks due to COVID-19 induced lockdown, Africa's economy is gradually recovering from the lows experienced in the first half of 2020. There is a significant rebound in supply & value chain operations, growth in demand and import & trade in automobile and transportation industry. Many manufacturers are showing interest in export of ICE three wheelers to the African regions as there is rising demand for shared mobility and also growing economic condition after COVID-19.
Impact of Russia-Ukraine War on Africa ICE Three-Wheeler Market
The Russia Ukraine war had adversely impacted Africa's economic recovery from the shocks of COVID-19 pandemic. Rising fuel prices, disruption in trade of goods and components for automobile industry specially for two wheelers and three wheelers sector. Supply chain disruption affected the production of ICE three-wheeler market and also lowered the demand of ICE three-wheeler among consumers due to increased price of fuel and lower offtake of three wheelers by B2B sectors such as e-commerce and tourism.
In this report, Africa ICE Three-Wheeler Market has been segmented into following categories:
1. Africa ICE Three-Wheeler Market, By Fuel Type
1.1. Petrol/Gasoline
1.2. Diesel
1.3. CNG
1.4. LPG
2. Africa ICE Three-Wheeler Market, By Engine Capacity
2.1. Less than 125cc
2.2. 126-250cc
2.3. 251-500cc
2.4. 501cc and above
3. Africa ICE Three-Wheeler Market, By Application
3.1. Private
3.2. Commercial
3.3. Service
3.4. Industrial
4. Africa ICE Three-Wheeler Market, By Country
4.1. South Africa
4.2. Egypt
4.3. Kenya
4.4. Nigeria
4.5. Algeria
4.6. Tanzania
4.7. Morocco
4.8. Uganda
4.9. Angola
4.10. Ethiopia
Key Player Landscape and Outlook
Bajaj Auto Ltd., Piaggio & C. SpA., Yamaha Motor Company Limited, Mahindra & Mahindra Ltd., ATUL Auto Limited, Chongqing Zongshen Vehicle Co., Ltd. are some of the key players dominating ICE Three-wheeler market in Africa. To get a healthy return on their investment, these players are investing in several product innovations as included in the report. Additionally, significant competitors gain from advanced strategic actions like mergers, collaborations, and acquisitions by growing their client bases and their sales and distribution networks in the Africa ICE three-wheeler market. Bajaj Auto Limited introduced 14 ICE three-wheelers targeting commercial/B2B customers that complied with BS-6 norms in March 2020. Its several commercial three-wheeler models were offered in BS-VI technology under the Maxima, Maxima Cargo, and RE names. Additionally, the RE brand offered a 236 cc engine with fuel injection (FI) technology and three fuel choices, including CNG, LPG, and gasoline.
Key Players Operating in Africa ICE Three-Wheeler
1. Bajaj Auto Ltd.
2. Piaggio & C. SpA
3. Yamaha Motor Company Limited
4. Mahindra & Mahindra Ltd.
5. ATUL Auto Limited
6. Chongqing Zongshen Vehicle Co., Ltd
7. Huaihai International Development Corporation
8. Ningbo Dowedo International Trade Co., Ltd.
9. Jiangsu East Yonsland Vehicle Manufacturing Co., Ltd
10. Jiangsu Yufeng Vehicle Industry Co., Ltd.
Why You Should Buy This Report
Market Xcel reports are based on qualitative and quantitative data collected through 'on-ground' primary research interventions. Based on our in-depth research, our reports can also provide granular city/state level market size data. The report includes deeper actionable insights provided by the industry experts & Key Opinion Leaders thus offering cutting-edge business solutions. The forecast data included in the report is based on 'Drivers based forecasting' technique ensuring accurate decoding of the future.
1. Research Methodology
2. Product Overview
3. Impact of COVID-19 on Africa ICE Three-Wheeler Market
4. Impact of Russia-Ukraine War on Africa ICE Three-Wheeler Market
5. Executive Summary
6. Voice of Customer
7. Africa ICE Three-Wheeler Market Outlook, 2016-2030F
7.1. Market Size & Forecast
7.1.1. By Value
7.1.2. By Volume
7.2. Market Share & Forecast
7.2.1. By Fuel Type
7.2.1.1. Petrol/Diesel
7.2.1.2. CNG
7.2.2. By Engine Capacity
7.2.2.1. Less than 125cc
7.2.2.2. 126-250cc
7.2.2.3. 251-500cc
7.2.2.4. 501cc and above
7.2.3. By Application
7.2.3.1. Private
7.2.3.2. Commercial
7.2.3.2.1. Service
7.2.3.2.2. Industrial
7.2.4. By Country
7.2.4.1. South Africa
7.2.4.2. Egypt
7.2.4.3. Kenya
7.2.4.4. Nigeria
7.2.4.5. Algeria
7.2.4.6. Tanzania
7.2.4.7. Morocco
7.2.4.8. Uganda
7.2.4.9. Angola
7.2.4.10. Ethopia
8. South Africa ICE Three-Wheeler Market Outlook, 2016-2030F
8.1. Market Size & Forecast
8.1.1. By Value
8.1.2. By Volume
8.2. Market Share & Forecast
8.2.1. By Fuel Type
8.2.1.1. Petrol/Diesel
8.2.1.2. CNG
8.2.2. By Engine Capacity
8.2.2.1. Less than 125cc
8.2.2.2. 126-250cc
8.2.2.3. 251-500cc
8.2.2.4. 501cc and above
8.2.3. By Application
8.2.3.1. Private
8.2.3.2. Commercial
8.2.3.2.1. Service
8.2.3.2.2. Industrial
9. Egypt ICE Three-Wheeler Market Outlook, 2016-2030F
9.1. Market Size & Forecast
9.1.1. By Value
9.1.2. By Volume
9.2. Market Share & Forecast
9.2.1. By Fuel Type
9.2.1.1. Petrol/Diesel
9.2.1.2. CNG
9.2.2. By Engine Capacity
9.2.2.1. Less than 125cc
9.2.2.2. 126-250cc
9.2.2.3. 251-500cc
9.2.2.4. 501cc and above
9.2.3. By Application
9.2.3.1. Private
9.2.3.2. Commercial
9.2.3.2.1. Service
9.2.3.2.2. Industrial
10. Kenya ICE Three-Wheeler Market Outlook, 2016-2030F
10.1. Market Size & Forecast
10.1.1. By Value
10.1.2. By Volume
10.2. Market Share & Forecast
10.2.1. By Fuel Type
10.2.1.1. Petrol/Diesel
10.2.1.2. CNG
10.2.2. By Engine Capacity
10.2.2.1. Less than 125cc
10.2.2.2. 126-250cc
10.2.2.3. 251-500cc
10.2.2.4. 501cc and above
10.2.3. By Application
10.2.3.1. Private
10.2.3.2. Commercial
10.2.3.2.1. Service
10.2.3.2.2. Industrial
11. Nigeria ICE Three-Wheeler Market Outlook, 2016-2030F
11.1. Market Size & Forecast
11.1.1. By Value
11.1.2. By Volume
11.2. Market Share & Forecast
11.2.1. By Fuel Type
11.2.1.1. Petrol/Diesel
11.2.1.2. CNG
11.2.2. By Engine Capacity
11.2.2.1. Less than 125cc
11.2.2.2. 126-250cc
11.2.2.3. 251-500cc
11.2.2.4. 501cc and above
11.2.3. By Application
11.2.3.1. Private
11.2.3.2. Commercial
11.2.3.2.1. Service
11.2.3.2.2. Industrial
12. Algeria ICE Three-Wheeler Market Outlook, 2016-2030F
12.1. Market Size & Forecast
12.1.1. By Value
12.1.2. By Volume
12.2. Market Share & Forecast
12.2.1. By Fuel Type
12.2.1.1. Petrol/Diesel
12.2.1.2. CNG
12.2.2. By Engine Capacity
12.2.2.1. Less than 125cc
12.2.2.2. 126-250cc
12.2.2.3. 251-500cc
12.2.2.4. 501cc and above
12.2.3. By Application
12.2.3.1. Private
12.2.3.2. Commercial
12.2.3.2.1. Service
12.2.3.2.2. Industrial
13. Tanzania ICE Three-Wheeler Market Outlook, 2016-2030F
13.1. Market Size & Forecast
13.1.1. By Value
13.1.2. By Volume
13.2. Market Share & Forecast
13.2.1. By Fuel Type
13.2.1.1. Petrol/Diesel
13.2.1.2. CNG
13.2.2. By Engine Capacity
13.2.2.1. Less than 125cc
13.2.2.2. 126-250cc
13.2.2.3. 251-500cc
13.2.2.4. 501cc and above
13.2.3. By Application
13.2.3.1. Private
13.2.3.2. Commercial
13.2.3.2.1. Service
13.2.3.2.2. Industrial
14. Morocco ICE Three-Wheeler Market Outlook, 2016-2030F
14.1. Market Size & Forecast
14.1.1. By Value
14.1.2. By Volume
14.2. Market Share & Forecast
14.2.1. By Fuel Type
14.2.1.1. Petrol/Diesel
14.2.1.2. CNG
14.2.2. By Engine Capacity
14.2.2.1. Less than 125cc
14.2.2.2. 126-250cc
14.2.2.3. 251-500cc
14.2.2.4. 501cc and above
14.2.3. By Application
14.2.3.1. Private
14.2.3.2. Commercial
14.2.3.2.1. Service
14.2.3.2.2. Industrial
15. Uganda ICE Three-Wheeler Market Outlook, 2016-2030F
15.1. Market Size & Forecast
15.1.1. By Value
15.1.2. By Volume
15.2. Market Share & Forecast
15.2.1. By Fuel Type
15.2.1.1. Petrol/Diesel
15.2.1.2. CNG
15.2.2. By Engine Capacity
15.2.2.1. Less than 125cc
15.2.2.2. 126-250cc
15.2.2.3. 251-500cc
15.2.2.4. 501cc and above
15.2.3. By Application
15.2.3.1. Private
15.2.3.2. Commercial
15.2.3.2.1. Service
15.2.3.2.2. Industrial
16. Angola ICE Three-Wheeler Market Outlook, 2016-2030F
16.1. Market Size & Forecast
16.1.1. By Value
16.1.2. By Volume
16.2. Market Share & Forecast
16.2.1. By Fuel Type
16.2.1.1. Petrol/Diesel
16.2.1.2. CNG
16.2.2. By Engine Capacity
16.2.2.1. Less than 125cc
16.2.2.2. 126-250cc
16.2.2.3. 251-500cc
16.2.2.4. 501cc and above
16.2.3. By Application
16.2.3.1. Private
16.2.3.2. Commercial
16.2.3.2.1. Service
16.2.3.2.2. Industrial
17. Ethopia ICE Three-Wheeler Market Outlook, 2016-2030F
17.1. Market Size & Forecast
17.1.1. By Value
17.1.2. By Volume
17.2. Market Share & Forecast
17.2.1. By Fuel Type
17.2.1.1. Petrol/Diesel
17.2.1.2. CNG
17.2.2. By Engine Capacity
17.2.2.1. Less than 125cc
17.2.2.2. 126-250cc
17.2.2.3. 251-500cc
17.2.2.4. 501cc and above
17.2.3. By Application
17.2.3.1. Private
17.2.3.2. Commercial
17.2.3.2.1. Service
17.2.3.2.2. Industrial
18. Africa ICE Two-Wheeler Market Mapping, 2021
18.1. By Fuel Type
18.2. By Engine Capacity
18.3. By Application
18.4. By Region
19. Macro-Business Environmental Scope
19.1. Porter's Five Forces Analysis
19.2. PESTEL Analysis
19.3. Value Chain Analysis
19.4. Pricing Analysis
19.5. Best Practice Case Studies by Market Leaders (Upto Three)
20. Market Analysis
20.1. Growth Opportunities
20.2. Growth Inhibitors
21. Key Trends & Developments
22. Key Players Landscape
22.1. SWOT Analysis of Top Five Market Leaders
22.1.1. Core Competence and Key Value Proposition
22.1.2. Areas of Improvement
22.1.3. Untapped Scope of Business
22.1.4. Market Value Proposed by Competitors
22.2. Competition Matrix of Market Leaders
22.3. Market Revenue Analysis of Market Leaders (in %, 2022)
22.4. Mergers & Acquisitions/ Joint Ventures (If Applicable)
23. Key Players Outlook
23.1. Bajaj Auto Ltd.
23.1.1. Company Details
23.1.2. Products & Services
23.1.3. Financials (As reported)
23.1.4. Key Market Focus & Geographical Presence
23.1.5. Recent Developments
23.1.6. Key Management Personnel
23.2. Piaggio & C. SpA
23.3. Yamaha Motor Company Limited
23.4. Mahindra & Mahindra Ltd.
23.5. ATUL Auto Limited
23.6. Chongqing Zongshen Vehicle Co., Ltd
23.7. Huaihai International Development Corporation
23.8. Ningbo Dowedo International Trade Co., Ltd.
24. Strategic Insights & Recommendations
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