DUBLIN--(BUSINESS WIRE)--Research and Markets has announced the addition of the "African Commercial Vehicles Market, Forecast to 2025" report to their offering.
The African commercial vehicles (CV) market, despite the slowdown due to low oil and commodity prices, is expected to grow at a compound annual growth rate (CAGR) of 6.1%, largely driven by increasing infrastructural developments and rising urbanisation. South Africa is the largest contributor to the CV market in Africa, with 53% share.
However, until 2025, Nigeria, Kenya, and Morocco are expected to be the fastest-growing markets and the only ones to increase their share in the overall CV market. Apart from Nigeria, where the CV market is in turmoil, Kenya, Morocco, and Tanzania are expected to be the fastest-growing CV markets in Africa until 2025.
New vehicles in Africa are predominantly imported as knocked-down kits and assembled in local facilities, whereas used vehicles are imported as fully built units. The African new trucks market was predominantly dominated by premium brands from North America and Europe. White spaces in the lower price range and market potential enticed Asian manufacturers into setting up shop in the region.
In North Africa, there is growing emphasis on urban transport, along with government incentives to produce vehicles locally. This is expected to have the biggest impact on the CV market in the region. Top trends in the Sub-Saharan region include accelerated infrastructural development, rapid urbanization, and increasing proliferation of Asian OEMs. Major economies of Africa are expected to recover from the current slump once oil and commodity prices start climbing up, after which they are expected to be back on the path of accelerated growth.
Key Questions this Study will Answer:
- How is the economical environment impacting the sales and production of CVs?
- How is the market structured and what is the business model?
- Who are the key participants/market leaders and what are their market shares?
- What are the current and future trends affecting the market?
- How is the growth potential and where are the market opportunities?
Key Topics Covered:
1. Executive Summary
2. Research Scope, Aim, Objectives, and Methodology
3. African CV Market
4. North African CV Market
5. Algeria CV Market
6. Egypt CV Market
7. Morocco CV Market
8. Sub-Saharan Africa CV Market
9. Ghana CV Market
10. Kenya CV Market
11. Nigeria CV Market
12. South Africa CV Market
13. Tanzania CV Market
14. Growth Opportunities and Companies to Action
15. Key Conclusions and Future Outlook
For more information about this report visit http://www.researchandmarkets.com/research/ksz9dk/african