The “Africa Automotive Market“ provide deep growth analysis of the Africa Automotive industry for identifying the growth opportunities, development trends and factors limiting the growth of the market. This report offers market information based on past and present industry situations and growth aspects. Initially, the report presents the market overview covering product description, market analysis, market dynamics, opportunities and market share.
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Secondly, global Africa Automotive Market report conducts a qualitative analysis to present the key manufacturer’s profile, market share, market size, sales volume, gross margin analysis. All the key regions covered in report are North America, Europe, Asia-Pacific, South America, Middle East and Africa. The Africa Automotive market share and market outlook of each region from 2019-2024 are presented in this report.
The Africa automotive market is expected to register a CAGR of about 7.48% over the forecast period. This market is the most underdeveloped automobile market in the world. Apart from South Africa and other small countries, the Africa automotive market is one of the slow growing markets, globally. The major reasons for this limited growth have been the extremely low-average income and the lack of a sizeable middle-class population. Also, the extremely high lending rates have made ownership of a car restricted only to the wealthy and prosperous. Ghana, a promising market, has a car loan interest rate of nearly 26%. This makes taking out a car loan an expensive proposition, which is derailing the automotive market in the country. Even the biggest economy of Africa, Nigeria has a loan interest rate of about 12%.
Market Opportunities in Africa
The African market has great growth prospects. The market is expected to offer high returns to players who are willing to seriously enter the region. Mahindra & Mahindra Group of India, primarily a maker of sports utility vehicles, has set up a manufacturing facility in Ghana to serve the West African market, due to the rising middle-class population in the region. Post-2020, the Africa automotive market is expected to become a luxury and start being a necessity.
The level of infrastructure is also increasing in Africa, which is likely to aid the automotive market of the region. West Africa is expected to drive the growth till 2023, whereas Ghana and Nigeria are expected to be the key players. Ghana aims to become a developed country by 2030, and even if the target is met halfway, the Ghanaian automotive market is anticipated to grow at a tremendous pace, as the economic growth is directly proportional to the growth of automotive markets. The economies of Kenya and Tanzania are also undergoing rapid growth, moreover, the automobile industries in these countries are expected to witness good growth rates.
The North Africa automotive market has been majorly affected by the unrest and has contracted since 2010. The Egyptian market, in particular, has a significant growth potential and is expected to fuel up the Northern African market over the forecast period. The passenger vehicles segment is likely to grow at the fastest rate in Africa, with increasing number of middle-class population aspiring and seeking to own a vehicle. Local auto brands have a good presence in the African market, which can offer strong marketing prospects and significant market shares to the global giants.
Key Developments in the Market
• April 2018: Nissan planned to start assembling vehicles in Kenya, bolstering government plans to develop a regional auto-manufacturing hub in East Africa’s biggest economy.
Major Players – DAIMLER AG, FIAT, FORD, GENERAL MOTORS., NISSAN, AND TOYOTA, amongst others.
Reasons to Purchase the Report
• Various perspectives of the market with the help of Porter’s five forces analysis
• The product type that is expected to dominate the market
• The regions that are expected to witness the fastest growth rates during the forecast period
• The latest developments, market shares, and strategies employed by the major market players
• 3 months analyst support, along with the Market Estimate sheet (in Excel)
Customization of the Report
This report can be customized to meet your requirements. Please connect with our analyst, who will ensure you get a report that suits your need.
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Africa Automotive Market Analyse according to leading players, Competitive landscape, geographical regions, top manufacturers, types, and applications forecast over a period of 2019 to 2024. Geographically, this report is divided into many key Regions, with production, consumption, revenue (million USD), market share and rate of Africa Automotive Market 2019 in these regions, from 2018 to 2024 (forecast), covering: North America, China, Europe, Japan, Southeast Asia, India.
The Objectives of this report are:
To define, describe, and analyze the Africa Automotive market on the basis of product type, application, and region
To forecast and analyze the size of the Africa Automotive market (in terms of value) in six key regions, namely, Asia Pacific, Western Europe, Central & Eastern Europe, North America, the Middle East & Africa, and South America
To forecast and analyze the Africa Automotive market at country-level in each region
To strategically analyze each submarket with respect to individual growth trends and its contribution to the Africa Automotive market
To analyze opportunities in the Africa Automotive market for stakeholders by identifying high-growth segments of the market
Key Questions Answered in Africa Automotive market report:
What will the market size be in 2024 and what will the growth rate be?
What are the key market trends?
What is driving this market?
What are the challenges to market growth?
Who are the key vendors in this market space?
What are the market opportunities and threats faced by the key vendors?
What are the strengths and weaknesses of the key vendors?
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Africa Automotive Market Report Provides Comprehensive Analysis as Following:
Market segments and sub-segments
Market size & shares
Market trends and dynamics
Market Drivers and Opportunities
Market Analysis and Segmentation
Competitive landscape
Supply and demand
Technological inventions in Africa Automotive trade
Marketing Channel Development Trend
Africa Automotive Market Positioning
Pricing Strategy
Brand Strategy
Target consumer
Distributors/Traders List enclosed in Positioning Africa Automotive Market
Africa Automotive Market report provides you a visible, one-stop breakdown of the leading product, submarkets and market leader’s revenue forecasts till 2024. In conclusion, Africa Automotive Market 2019 report presents the descriptive analysis of the Africa Automotive Market Major Key-players, Types, Application and Forecast Period knowledge which is able to function a profitable guide for all the Africa Automotive Market competitors.
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