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Automotive & Spares

Automotive & Spares
SECTOR

Africa's rapid urbanization fuels a surge in vehicle ownership. Invest in the parts that keep Africa moving! From assembling new cars to supplying essential spares, contribute to Africa's future of mobility.

Africa's rapid urbanization fuels a surge in vehicle ownership. Invest in the parts that keep Africa moving! From assembling new cars to supplying essential spares, contribute to Africa's future of mobility.

$660.21 Bn

Market Size

5.70%

CAGR

$877.12 Bn

Forecast

Untapped Potential: Investment Opportunity in Automotive & Spares Business In Africa

Africa's economic growth and rising middle class are driving a surge in demand for vehicles, creating a dynamic and lucrative market for the automotive & spares sector. With a projected vehicle production of 2 million units by 2023 (OICA) and a growing urbanization rate of 4.2% (World Bank), Africa presents a uniquely lucrative opportunity for foreign investors across the automotive value chain.

 

Despite this promising outlook, the continent faces a significant challenge: a reliance on used car imports, estimated at 70-80% of the total vehicle market (Mordor Intelligence). This creates a huge gap in the market for high-quality, affordable new vehicles and a corresponding demand for a robust aftermarket for spare parts. Investors can capitalize on this opportunity by establishing local assembly plants for new vehicles, catering to the growing demand for brand new cars. Or, investing in the production and distribution of high-quality spare parts, catering to both new and used vehicles. There's also a big scope for developing innovative solutions for financing and after-sales services, making car ownership more accessible to the growing middle class.

Automotive & Spares
Investment Zones in Africa
Social Spotlight
Latest Insights
Van Vliet Automotive joins PIA Togo

June 6, 2024

Van Vliet Automotive joins PIA Togo

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Nov. 20, 2024

Africa: The Next Frontier for Automotive Growth

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Africa's Automotive Spares Market Is Shifting Gears

Nov. 29, 2024

Africa's Automotive Spares Market Is Shifting Gears

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Africa's Automotive Spares & Parts Manufacturing Business- Africa For Investors AFI Arise IIP Infographic

April 29, 2025

Race Ahead In Africa's Automotive Parts Manufacturing Business

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PIA-Togo-Star Garment - A Komar Company Vivace Group - Donsen Alu ZIC-JG Group - Five Element Industry Limited ZIC-Sonata Agri International Ltd PIA Togo SPER PIA Togo Huasha Company PIA Togo Nutrisource PIA Togo Odil Logo PIA Togo R-Logistic PIA Togo Star Garments PIA Togo Van Vliet Automotive Togo Wood Industries & Log Yard Rwanda-Afroturk Rwanda-Almaha Industry Rwanda-Enviroserve Rwanda-Mahwi Grain Rwanda-MaterialBankRwanda Rwanda-MingYang Papers Rwanda-OCP AFRICA Togo Organics Togo Soja PIA Togo Vivace Group
GSEZ-Century Ply PIA-Togo-Spiro PIA Togo BB logo PIA Togo- Calafi PIA Togo- Cameg PIA CMDT PIA General & Dop Cosmetics PIA General & DOP Industrie PIA ST2A PIC Sequoia ROC- STB Congo ROC- X Oil PIA-Togo-Nutrisource PTE DRC_PIA-plus-Rwanda-Togo-FHC Medica GSEZ-Chanta GSEZ-Green Ply GSEZ-GWI - Gabon Wood Industries GSEZ-L7H LIFE RESOURCES GSEZ-Somivab PIA-Togo-Atime SA PIA-Togo-Ba & Be Consortium (Bawason) PIA-Togo-Brilliant Industry Togo PIA-Togo-Castel Groupe PIA-Togo-Dongaco Togo SA PIA-Togo-JCEM Groupe GSEZ JI ming Waste Recycling

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