Morocco Electric Vehicle Market (2022-2028) | Forecast, Analysis, Outlook, Trends, Value, Revenue, Growth, Industry, Size, Share, Segmentation & COVID-19 IMPACT

Market Forecast By Vehicle Types(Two-Wheeler, Passenger Vehicle, Bus, Trucks), By Regions(Northern Region, Central Region, Southern Region), and competitive landscape.

Product Code: ETC001629 Publication Date: Dec 2022 Product Type: Report
Publisher: 6Wresearch No. of Pages: 70 No. of Figures: 35 No. of Tables: 5

Morocco Electric Vehicle Market Synopsis

Morocco Electric Vehicle Market is anticipated to register significant growth in the coming years owing to the government incentives to encourage the uptake of electric vehicles. Additionally, the growing awareness of the environmental benefits of electric vehicles and their potential to reduce running costs are further propelling the Morocco Electric Vehicle Market growth over the forecast period. However, the major restraint factors for the Morocco electric vehicle market are high initial cost, the lack of charging infrastructure and battery swapping stations.

According to 6Wresearch, Morocco Electric Vehicle Market is expected to grow during 2022-2028. The key reasons for the growth include government efforts to encourage the use of electric vehicles through a range of incentives, including tax breaks and subsidies. The country has ample resources of renewable energy, making it an ideal place to develop and manufacture electric vehicles which in turn drives the Morocco Electric Vehicle Industry development. Further, the growing awareness among consumers about the benefits of EVs such as environmental friendliness and lower running costs. The Morocco Electric Vehicle Market size is projected to expand at snowballing rate in the impending years. The growth in the market will be driven by favourable government policies, availability of raw materials, and increasing consumer awareness.

Impact of COVID-19 on Morocco Electric Vehicle Market

The Morocco Electric Vehicle Market which is a part of Africa Electric Vehicle Market was greatly influenced by the pandemic as the sales of electric vehicles are forecast to decline due to economic downturn caused by the pandemic. The Morocco Electric Vehicle Market was adversely impacted by the number of factors including lower oil prices, reduced purchasing power of individuals, and supply chain disruptions. However, Morocco remains an attractive market for EVs due to its strong economic growth prospects and supportive government policies and it is expected to rebound after the gradual easing from the pandemic restrictions.

Market dynamics

The Morocco Electric Vehicle Market is expected to grow at a compound annual growth rate (CAGR) of XX%  in the coming years. The passenger car segment is anticipated to be the largest contributor to the market growth during the forecast period. Additionally, the government plans to increase the adoption of electric vehicles and supportive policies are some of the key factors swashbuckling the industry growth in Morocco.

Market analysis based on Vehicle Types

Based on Vehicle Types, the market is bifurcated into Two-Wheeler, Passenger Vehicle, Bus, and Trucks. The passenger vehicle holds the major revenue of the market due to the growing adoption of zero-emissions strategies.

Competitive Landscape

The Morocco Electric Vehicle Industry has a few large companies competing for dominance which are having strong presence in the country and are competing for market share. The competition among the leading players is intense in terms of price, quality, after-sales service, technology, and customer satisfaction.

Key attractiveness of the report

  • COVID-19 Impact on the Market.
  • 10 Years Market Numbers.
  • Historical Data Starting from 2018 to 2021.
  • Base Year: 2021.
  • Forecast Data until 2028.
  • Key Performance Indicators Impacting the Market.
  • Major Upcoming Developments and Projects.

Key Highlights of the Report:

  • Morocco Electric Vehicle Market Overview
  • Morocco Electric Vehicle Market Outlook
  • Morocco Electric Vehicle Market Forecast
  • Historical Data of Morocco Electric Vehicle Market Revenues and Volume, for the Period 2016-2019
  • Morocco Electric Vehicle Market Size and Morocco Electric Vehicle Market Forecast of Revenues and Volume, Until 2026.
  • Historical Data of Morocco Electric Vehicle Market Revenues and Volume, By Vehicle Types, for the Period 2016-2019
  • Market Size & Forecast of Morocco Electric Vehicle Market Revenues and Volume, By Vehicle Types, Until 2026
  • Historical Data of Morocco Electric Vehicle Market Revenues and Volume, By Regions, for the Period 2016-2019
  • Market Size & Forecast of Morocco Electric Vehicle Market Revenues and Volume, By Regions, Until 2026
  • Morocco Electric Vehicle Market Drivers and Restraints
  • Morocco Electric Vehicle Market Trends and Industry Life Cycle
  • Morocco Electric Vehicle Market Porter’s Five Force Analysis
  • Morocco Electric Vehicle Market Opportunity Assessment
  • Morocco Electric Vehicle Market Share, By Players
  • Morocco Electric Vehicle Market Share, By Regions
  • Morocco Electric Vehicle Market Overview on Competitive Benchmarking
  • Company Profiles
  • Key Strategic Recommendations

Market Covered

The report offers a comprehensive study of the subsequent market segments:

By Vehicle Types

  • Two-Wheeler
  • Passenger Vehicle
  • Bus
  • Trucks

By Regions

  • Northern Region
  • Central Region
  • Southern Region
Frequently Asked Questions About the Market Study: FAQs

1. What is the study period of this report?

The study period of this report is 2022-2028.

2. Which factors contributes in the swashbuckling market growth?

The government incentives including tax breaks and growing awareness of the environmental benefits of electric vehicles are spurring the growth of this market.

3. Which factors are the major hinderances to the market growth potential?

The lack of charging infrastructure and battery swapping stations are the major hinderances to the market growth potential.

4. What is the impact of COVID-19 on the market?

The COVID-19 pandemic impacted the market in negative ways by declining the demand for EVs and disrupting the supply chains.

1. Executive Summary

2. Introduction

2.1 Report Description

2.2 Key Highlights

2.3 Market Scope & Segmentation

2.4 Research Methodology

2.5 Assumptions

3. Morocco Electric Vehicle Market Overview

3.1 Country Indicators

3.2 Morocco Electric Vehicle Market Revenues and Volume, 2018-2028F

3.3 Morocco Electric Vehicle Market Revenue Share, By Vehicle Types, 2021 & 2028F

3.3 Morocco Electric Vehicle Market Revenue Share, By Region 2021 & 2028F

3.4 Morocco Electric Vehicle Market - Industry Life Cycle

3.5 Morocco Electric Vehicle Market - Porter’s Five Forces

4. Morocco Electric Vehicle Market Dynamics

4.1 Impact Analysis

4.2 Market Drivers

4.3 Market Restraints

5. Morocco Electric Vehicle Market Trends

6. Morocco Electric Vehicle Market Overview, By Vehicles Types

6.1 Morocco Electric Passenger Vehicle Market Revenues & Volume, 2018-2028F

6.2 Morocco Electric Bus Market Revenue and Volume, 2018-2028F

6.3 Morocco Electric Two-Wheelers Market Revenue and Volume, 2018-2028F

6.4 Morocco Electric Truck Market Revenue and Volume, 2018-2028F

7. Morocco Electric Vehicle Market Overview, By Regions

7.1 Morocco Electric Vehicle Market Revenues, By Northern Region, 2018-2028F

7.2 Morocco Electric Vehicle Market Revenues, By Central Region, 2018-2028F

7.3 Morocco Electric Vehicle Market Revenues, By Southern Region, 2018-2028F

8. Morocco Electric Vehicle Market Key Performance Indicators

9. Morocco Electric Vehicle Market Opportunity Assessment

9.1 Morocco Electric Vehicle Market Opportunity Assessment, By Vehicle Types, 2028F

10. Morocco Electric Vehicle Market Competitive Landscape

10.1 Morocco Electric Vehicle Market Revenue Share, By Companies, 2022

10.2 Morocco Electric Vehicle Market Competitive Benchmarking, By Operating Parameters

11. Company Profiles

12. Key Strategic Recommendations

13. Disclaimer

 

Market Forecast By Vehicle Types(Two-Wheeler, Passenger Vehicle, Bus, Trucks), By Regions(Northern Region, Central Region, Southern Region), and competitive landscape.

Product Code: ETC001629 Publication Date: Mar 2020 Product Type: Report
Publisher: 6Wresearch No. of Pages: 70 No. of Figures: 35 No. of Tables: 5

Morocco has adopted the national energy strategy to enhance electricity production which is based on renewable energy. Also, automobile companies are setting up their manufacturing units in the country resulting in the decline in the prices of the electric vehicles which has led to a surge in the electric vehicle market revenues in the country. Moreover, growing environmental issues and beneficial agreements and incentives by the government are the major factors that would drive electric vehicle penetration in Morocco.

According to 6Wresearch, the Morocco Electric Vehicle Market size is projected to grow during 2020-2026. Growth in Morocco automotive industry highlights the country’s modern technologies and policies which further helps the electric vehicle market to expand. Additionally, the government is planning to install more charging stations in various parts of the country for public and private use, which is expected to fuel the demand for electric vehicles in Morocco in the coming years.

Passenger vehicle in morocco electric vehicle market holds a major revenue as the manufacturers have adopted zero-emission strategy. The electric vehicle can be beneficial for the environment merely if the electric energy utilized to charge their batteries comes from renewable resources. 

The Morocco electric vehicle market report thoroughly covers the market by vehicle types and regions including northern, central, and southern regions. The Morocco electric vehicle market outlook provides an unbiased and detailed analysis of the on-going Morocco electric vehicle market trends, opportunities/high growth areas, and market drivers which would help the stakeholders to devise and align their market strategies accordingly to the current and future market dynamics.

 Key Highlights of the Report:

  • Morocco Electric Vehicle Market Overview
  • Morocco Electric Vehicle Market Outlook
  • Morocco Electric Vehicle Market Forecast
  • Historical Data of Morocco Electric Vehicle Market Revenues and Volume, for the Period 2016-2019
  • Morocco Electric Vehicle Market Size and Morocco Electric Vehicle Market Forecast of Revenues and Volume, Until 2026.
  • Historical Data of Morocco Electric Vehicle Market Revenues and Volume, By Vehicle Types, for the Period 2016-2019
  • Market Size & Forecast of Morocco Electric Vehicle Market Revenues and Volume, By Vehicle Types, Until 2026
  • Historical Data of Morocco Electric Vehicle Market Revenues and Volume, By Regions, for the Period 2016-2019
  • Market Size & Forecast of Morocco Electric Vehicle Market Revenues and Volume, By Regions, Until 2026
  • Morocco Electric Vehicle Market Drivers and Restraints
  • Morocco Electric Vehicle Market Trends and Industry Life Cycle
  • Morocco Electric Vehicle Market Porter’s Five Force Analysis
  • Morocco Electric Vehicle Market Opportunity Assessment
  • Morocco Electric Vehicle Market Share, By Players
  • Morocco Electric Vehicle Market Share, By Regions
  • Morocco Electric Vehicle Market Overview on Competitive Benchmarking
  • Company Profiles
  • Key Strategic Recommendations

 Markets Covered

The Morocco Electric Vehicle Market report provides a detailed analysis of the following market segments:

  • By Vehicle Types
    • Two-Wheeler
    • Passenger Vehicle
    • Bus
    • Trucks
  • By Regions
    • Northern Region
    • Central Region
    • Southern Region

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