Middle East & Africa Electric Van Market Size & Outlook
The electric van market in Middle East & Africa is expected to reach a projected revenue of US$ 729.3 million by 2030. A compound annual growth rate of 7.9% is expected of Middle East & Africa electric van market from 2024 to 2030.
Revenue, 2023 (US$M)
$434.5
Forecast, 2030 (US$M)
$729.3
CAGR, 2024 - 2030
7.9%
Report Coverage
Middle East & Africa
MEA electric van market highlights
- The MEA electric van market generated a revenue of USD 434.5 million in 2023.
- The market is expected to grow at a CAGR of 7.7% from 2024 to 2030.
- In terms of segment, battery electric vehicle (bev) was the largest revenue generating propulsion in 2023.
- Battery Electric Vehicle (BEV) is the most lucrative propulsion segment registering the fastest growth during the forecast period.
MEA data book summary
| Market revenue in 2023 | USD 434.5 million |
| Market revenue in 2030 | USD 729.3 million |
| Growth rate | 7.7% (CAGR from 2023 to 2030) |
| Largest segment | Battery electric vehicle (bev) |
| Fastest growing segment | Battery Electric Vehicle (BEV) |
| Historical data covered | 2018 - 2022 |
| Base year for estimation | 2023 |
| Forecast period covered | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Battery Electric Vehicle (BEV) |
| Key market players worldwide | Mercedes-Benz Group AG, Ford Motor Co, Rivian, Nissan Motor Co Ltd, Volkswagen AG, Stellantis NV, Renault SA, BYD Co Ltd ADR, MAN Truck & Bus, Volvo Car AB Class B |
Other key industry trends
- In terms of revenue, MEA region accounted for 3.3% of the global electric van market in 2023.
- Globally, Asia Pacific is projected to lead the regional market in terms of revenue in 2030.
- Asia Pacific is the fastest growing regional market and is projected to reach USD 17,623.5 million by 2030.
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Electric Van Market Scope
Electric van market segmentation & scope
Range
Above 200 miles
Upto 100 miles
100 to 200 miles
Battery
Lithium Ion
Nickel Metal Hydride (NiMH)
Sealed Lead Acid
Application
Commercial
Personal
Countries
U.S.
Canada
Mexico
UK
Denmark
France
Italy
Germany
Spain
Sweden
Norway
Thailand
South Korea
Japan
India
China
Australia
Brazil
Argentina
Saudi Arabia
South Africa
UAE
Kuwait
Electric Van Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|---|---|---|---|
| MAN Truck & Bus | View profile | 10001+ | Munich, Bayern, Germany, Europe | https://www.mantruckandbus.com |
| Rivian | View profile | 10001+ | Plymouth, Michigan, United States, North America | http://www.rivian.com |
| Stellantis NV | View profile | 258275 | Taurusavenue 1, Hoofddorp, NH, Netherlands, 2132 LS | https://www.stellantis.com |
| Renault SA | View profile | 105812 | 13-15, quai Le Gallo, Boulogne, Billancourt, France, 92100 | http://www.renault.com |
| Volvo Car AB Class B | View profile | 43400 | VAK Building, Gunnar Engellaus Vag, Gothenburg, Sweden, 405 31 | https://www.volvocars.com |
| Nissan Motor Co Ltd | View profile | 147116 | 1-1, Takashima 1-chome, Nishi-ku, Yokohama-shi, Kanagawa, Japan, 220-8686 | http://www.nissan-global.com |
| Ford Motor Co | View profile | 177000 | One American Road, Dearborn, MI, United States, 48126 | https://www.ford.com |
| Mercedes-Benz Group AG | View profile | 166056 | Mercedesstrasse 120, Stuttgart, BW, Germany, 70372 | https://www.daimler.com |
| Volkswagen AG | View profile | 656134 | Berliner Ring 2, Wolfsburg, NI, Germany, 38440 | https://www.volkswagenag.com |
| BYD Co Ltd ADR | View profile | 703504 | No. 3009, BYD Road, Pingshan, Guangdong Province, Shenzhen, China, People's Republic of, 518118 | https://www.byd.com |
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