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GCC Electric Vehicle Market By Vehicle Type (Passenger Cars, Light Commercial Vehicles and Medium & Heavy Commercial Vehicles, Two-Wheeler, Off-the-Road), By Propulsion (BEV, HEV, PHEV), By Range (0-50 Miles, 51-150 Miles, 151-200 Miles, 201-400 Miles, Above 400 Miles), By Battery Capacity (< 50 kWh, 51-100 kWh, 101-200 kWh, 201-300 kWh, Above 300 kWh), By Country, Competition Forecast & Opportunities, 2018- 2028F

Market Report I 2023-04-01 I 107 Pages I TechSci Research

GCC Electric Vehicle Market is predicted to grow at 25.16% CAGR to reach USD10,684 million by 2028 due to increased logistics and travel activities in the region.
GCC Electric Vehicle Market Overview
The GCC electric vehicle market is expanding as traditional vehicles are replaced with zero-emission vehicles. Furthermore, with rising pollution levels and the rising expense of fossil fuels, many GCC countries are shifting to green energy. Electric cars are the main technology for decarbonizing the road transportation sector, which accounts for 16% of all global emissions. According to the International Energy Agency (IEA), passenger electric cars are gaining popularity, and it is projected that 13% of new cars sold in the coming years will be electric. Electric vehicles are majorly classified into four categories based on their propulsion: BEV, HEV, and PHEV. Due to its zero emissions, BEV, which is purely battery-reliant, is becoming more and more popular. HEVs have internal combustion engines that are supplemented by one or more electric motors that draw power from batteries that cannot be charged separately. IC engines and battery-powered motors are used independently to power PHEV electric vehicles.
GCC Electric Vehicle Market Drivers
Increasing Adoption and Government Support
Due to their low operating costs and decreased carbon impact due to the absence of emissions, electric vehicles are becoming more and more popular in the GCC region. Several governments are launching a number of projects and programs to encourage green mobility all around the region. In addition, as oil costs have risen, so has the desire for electric cars. By offering tax breaks and incentives, the governments of the GCC region are encouraging the use of electric vehicles. Also, the infrastructure for charging electric vehicles is rapidly developing in many GCC nations. As a consequence, charging has become effective, and range anxiety has been minimized among consumers. Additionally, while demand is rising significantly, many firms are increasing their manufacturing capacity and dealership network across GCC countries. Owing to this, it is anticipated that GCC electric vehicle market will grow at a considerable rate by 2028.
GCC Electric Vehicle Market Challenge
Underdeveloped Aftermarket Services
The automotive aftermarket has had ups and downs in performance over the last two years as a result of the pandemic, as with all industries. Furthermore, due to a declining customer base, a reduction in vehicle miles traveled (VMT), and consumers' lower purchasing power, the demand for automotive aftermarket products has decreased, resulting in slower adoption of vehicles in the region. Also, during the COVID pandemic, several automotive manufacturers delayed the assembly of their vehicles due to part shortages, particularly microprocessor shortages, which slowed the expansion of the electric vehicle sector. Overall, it is anticipated that the growth rate of electric vehicles in the GCC will be sluggish in the early years due to the considerations mentioned above.
GCC Electric Vehicle Market Trend
Emerging New Players in the Market
The demand in the GCC for more advanced electric vehicles is growing as the automotive sector develops quickly. Furthermore, to meet the growing demand, numerous manufacturing businesses made investments in vehicle manufacturing and the charging infrastructure industry's research and development over a period of a few years. Additionally, new players, including startups and established automakers, are entering the GCC EV market and launching cutting-edge, novel EV models, collaborating with local battery manufacturers and service providers to establish their business. For instance, in 2021, the GCC region saw the introduction of the Lucid Air, a luxury electric automobile from Saudi startup Lucid Motors. As a result, new technologies are adopted, which will increase the GCC Electric Vehicle Market during the forecast years.
Recent Developments
For the next ten years, Saudi Arabia plans to invest over USD 50 billion in the production of electric vehicles.
In 2022, Saudi Arabia announced a USD 6 billion investment in a steel plate mill complex and an EV battery factory. Saudi Arabia also inked a contract with Lucid Group Inc. to buy 50-100,000 electric vehicles over a 10-year period.
In 2022, The Khalifa Industrial Zone Abu Dhabi (KIZAD) of AD Ports Group inked a contract to develop an electric car assembly facility in Abu Dhabi with the Chinese electric vehicle manufacturer NWTN.
Market Opportunities
The rising commercial activities in many countries in the GCC region have increased the sales of electric vehicles. In addition to rising sales, the development of smart and sustainable battery management systems further boosts the market in the coming years. The rapid penetration of electric vehicles provided manufacturers with more opportunities to diversify their product offerings. Additionally, the region could benefit from the global transition to electric vehicles, which would improve advanced battery technology in electric vehicles. Because of the aforementioned factors, there are many opportunities for manufacturers and suppliers to build distribution networks across the region to keep up with rising demand in upcoming years.
Market Segmentation
The GCC Electric Vehicle Market is segmented by vehicle type, Propulsion by propulsion, range, battery capacity, and by country. On the basis of vehicle type, the market is segmented into Passenger Cars, Light Commercial vehicles & Medium & Heavy Commercial vehicles, Two-Wheelers, Off the Road Vehicles. In terms of propulsion, the market is segmented into BEV, HEV, and PHEV. Based on battery capacity, it is divided into (< 50 kWh, 51-100 kWh, 101-200 kWh, 201-300 kWh, and above 300 kWh. Further, the market is also divided into countries wise, mainly Bahrain, Kuwait, Oman, Qatar, Saudi Arabia, and UAE.
Company Insights
In collaboration with its authorized importers in the Middle East, BMW Group Middle East introduced the BMW XM for the first time ever in the region in 2023.
In 2023, a renowned distributor in the United Arab Emirates, Al-Futtaim, and BYD Auto Industry Company Limited collaborated to support the growth of eco-friendly travel in the nation.
Mobility Solutions Auto Trade Company and BYD Auto Industry Company Limited will jointly introduce BYD passenger vehicles for Middle Eastern nations in 2023.
In 2022, Juma Al Majid Est, the sole distributor of Hyundai vehicles in the United Arab Emirates, released the IONIQ 5 fully electric SUV.
Mercedes-Benz to introduce its electric SUV, the EQC, in the UAE in 2021.
Company Profiles
Toyota Motor Corporation, Nissan Middle East FZE, Hyundai Motor UAE, BMW Group Middle East, Honda Middle East, Tesla Inc., Mercedes-Benz Cars Middle East (MBC ME), Volkswagen Group Middle East QFZ LLC, Ford Middle East, BYD Company Ltd. are the key players developing advanced technologies to stay competitive in the market and enhancing their product portfolio in the region to increase their customer outreach.

Report Scope:
In this report, GCC Electric Vehicle Market has been segmented into the following categories, in addition to the industry trends, which have also been detailed below:
- GCC Electric Vehicle Market, By Vehicle Type:
o Passenger Cars
o OTR
o LCV & MHCV
o Two Wheelers
- GCC Electric Vehicle Market, By Propulsion:
o HEV
o BEV
o PHEV
- GCC Electric Vehicle Market, By Range:
o 0-50 Miles
o 51-150 Miles
o 151-200 Miles
o 201-400 Miles
o Above 400 Miles
- GCC Electric Vehicle Market, By Battery Capacity:
o < 50 kWh
o 51-100 kWh
o 101-200 kWh
o 201-300 kWh
o Above 300 kWh
- GCC Electric Vehicle Market, By Country:
o Saudi Arabia
o UAE
o Qatar
o Kuwait
o Oman
o Bahrain
Competitive Landscape
Company Profiles: Detailed analysis of the major companies present in the GCC Electric Vehicle Market.
Available Customizations:
With the given market data, TechSci Research offers customizations according to a company's specific needs. The following customization options are available for the report:
Company Information
- Detailed analysis and profiling of additional market players (up to five).

1. Introduction
1.1. Market Overview
1.2. Key Highlights of the Report
1.3. Market Coverage
1.4. Market Segments Covered
1.5. Research Tenure Considered
2. Research Methodology
2.1. Objective of the Study
2.2. Baseline Methodology
2.3. Key Industry Partners
2.4. Major Association and Secondary Sources
2.5. Data Triangulation & Validation
3. Executive Summary
3.1. Market Overview
3.2. Market Forecast
3.3. Key Regions
3.4. Key Segments
4. Voice of Customer
4.1. Brand Awareness
4.2. Factors Influencing Purchase Decision
4.3. Challenges and Unmet Needs
5. Impact of COVID-19 on GCC Electric Vehicle Market
6. GCC Electric Vehicle Market Outlook, 2018-2028F
6.1. Market Size & Forecast
6.1.1. By Volume & Value
6.2. Market Share & Forecast
6.2.1. By Vehicle Type Market Share Analysis (Two Wheelers, Passenger Cars, Light Commercial Vehicles (LCV) and Medium & Heavy Commercial Vehicles (M&HCV) and Off-the-Road (OTR))
6.2.2. By Propulsion Market Share Analysis (BEV, HEV, PHEV)
6.2.3. By Range Market Share Analysis (0-50 Miles, 51-150 Miles, 151-200 Miles, 201-400 Miles, Above 400 Miles)
6.2.4. By Battery Capacity Market Share Analysis (< 50 kWh, 51-100 kWh, 101-200 kWh, 201-300 kWh, Above 300 kWh)
6.2.5. By Country Market Share Analysis (Bahrain, Kuwait, Oman, Qatar, Saudi Arabia and UAE)
6.2.6. By Company Market Share Analysis (By Value, 2022)
6.3. GCC Electric Vehicle Market Mapping & Opportunity Assessment
6.3.1. By Vehicle Type Market Mapping & Opportunity Assessment
6.3.2. By Propulsion Market Mapping & Opportunity Assessment
6.3.3. By Range Market Mapping & Opportunity Assessment
6.3.4. By Battery Capacity Market Mapping & Opportunity Assessment
6.3.5. By Country Market Mapping & Opportunity Assessment
7. Saudi Arabia Electric Vehicle Market Outlook, 2018-2028F
7.1. Market Size & Forecast
7.1.1. By Volume & Value
7.2. Market Share & Forecast
7.2.1. By Vehicle Type Market Share Analysis
7.2.2. By Propulsion Market Share Analysis
7.2.3. By Range Market Share Analysis
7.2.4. By Battery Capacity Market Share Analysis
8. UAE Electric Vehicle Market Outlook, 2018-2028F
8.1. Market Size & Forecast
8.1.1. By Volume & Value
8.2. Market Share & Forecast
8.2.1. By Vehicle Type Market Share Analysis
8.2.2. By Propulsion Market Share Analysis
8.2.3. By Range Market Share Analysis
8.2.4. By Battery Capacity Market Share Analysis
9. Qatar Electric Vehicle Market Outlook, 2018-2028F
9.1. Market Size & Forecast
9.1.1. By Volume & Value
9.2. Market Share & Forecast
9.2.1. By Vehicle Type Market Share Analysis
9.2.2. By Propulsion Market Share Analysis
9.2.3. By Range Market Share Analysis
9.2.4. By Battery Capacity Market Share Analysis
10. Kuwait Electric Vehicle Market Outlook, 2018-2028F
10.1. Market Size & Forecast
10.1.1. By Volume & Value
10.2. Market Share & Forecast
10.2.1. By Vehicle Type Market Share Analysis
10.2.2. By Propulsion Market Share Analysis
10.2.3. By Range Market Share Analysis
10.2.4. By Battery Capacity Market Share Analysis
11. Oman Electric Vehicle Market Outlook, 2018-2028F
11.1. Market Size & Forecast
11.1.1. By Volume & Value
11.2. Market Share & Forecast
11.2.1. By Vehicle Type Market Share Analysis
11.2.2. By Propulsion Market Share Analysis
11.2.3. By Range Market Share Analysis
11.2.4. By Battery Capacity Market Share Analysis
12. Bahrain Electric Vehicle Market Outlook, 2018-2028F
12.1. Market Size & Forecast
12.1.1. By Volume & Value
12.2. Market Share & Forecast
12.2.1. By Vehicle Type Market Share Analysis
12.2.2. By Propulsion Market Share Analysis
12.2.3. By Range Market Share Analysis
12.2.4. By Battery Capacity Market Share Analysis
13. Porter's Five Forces Analysis
13.1. Bargaining Powers of Suppliers
13.2. Bargaining Powers of Buyers
13.3. Threat of Substitutes
13.4. Threat of New Entrants
13.5. Competitive Rivalry
14. SWOT Analysis
14.1. Strengths
14.2. Weakness
14.3. Opportunities
14.4. Threats
15. Market Dynamics
15.1. Drivers
15.2. Challenges
16. Market Trends and Developments
17. Competitive Landscape
17.1. Toyota Motor Corporation
17.1.1. Company Details
17.1.2. Key Products Offered
17.1.3. Recent Developments
17.1.4. Key Management Personnel
17.2. Nissan Middle East FZE
17.2.1. Company Details
17.2.2. Key Products Offered
17.2.3. Recent Developments
17.2.4. Key Management Personnel
17.3. Hyundai Motor UAE
17.3.1. Company Details
17.3.2. Key Products Offered
17.3.3. Recent Developments
17.3.4. Key Management Personnel
17.4. BMW Group Middle East
17.4.1. Company Details
17.4.2. Key Products Offered
17.4.3. Recent Developments
17.4.4. Key Management Personnel
17.5. Honda Middle East
17.5.1. Company Details
17.5.2. Key Products Offered
17.5.3. Recent Developments
17.5.4. Key Management Personnel
17.6. Tesla, Inc.
17.6.1. Company Details
17.6.2. Key Products Offered
17.6.3. Recent Developments
17.6.4. Key Management Personnel
17.7. Mercedes-Benz Cars Middle East (MBC ME)
17.7.1. Company Details
17.7.2. Key Products Offered
17.7.3. Recent Developments
17.7.4. Key Management Personnel
17.8. Volkswagen Group Middle East QFZ LLC
17.8.1. Company Details
17.8.2. Key Products Offered
17.8.3. Recent Developments
17.8.4. Key Management Personnel
17.9. Ford Middle East
17.9.1. Company Details
17.9.2. Key Products Offered
17.9.3. Recent Developments
17.9.4. Key Management Personnel
17.10. BYD Company Ltd.
17.10.1. Company Details
17.10.2. Key Products Offered
17.10.3. Recent Developments
17.10.4. Key Management Personnel
18. Strategic Recommendations
19. About Us & Disclaimer



Figure 1: GCC Electric Vehicle Market Size, By Value (USD Million) and By Volume (Thousand Units), 2018-2028F
Figure 2: GCC Electric Vehicle Market Share, By Vehicle Type, By Volume, 2018-2028F
Figure 3: GCC Electric Vehicle Market Share, By Propulsion, By Volume, 2018-2028F
Figure 4: GCC Electric Vehicle Market Share, By Range, By Volume, 2018-2028F
Figure 5: GCC Electric Vehicle Market Share, By Battery Capacity, By Volume, 2018-2028F
Figure 6: GCC Electric Vehicle Market Share, By Country, By Volume, 2022 & 2028F
Figure 7: GCC Electric Vehicle Market Share, By Company, By Value, 2022
Figure 8: GCC Electric Vehicle Market Map, By Vehicle Type, Market Size (Thousand Units) & Growth Rate (%), 2022
Figure 9: GCC Electric Vehicle Market Map, By Propulsion, Market Size (Thousand Units) & Growth Rate (%), 2022
Figure 10: GCC Electric Vehicle Market Map, By Range, Market Size (Thousand Units) & Growth Rate (%), 2022
Figure 11: GCC Electric Vehicle Market Map, By Battery Capacity, Market Size (Thousand Units) & Growth Rate (%), 2022
Figure 12: GCC Electric Vehicle Market Map, By Country, Market Size (Thousand Units) & Growth Rate (%), 2022
Figure 13: Saudi Arabia Electric Vehicle Market Size, By Volume (Thousand Units), 2018-2028F
Figure 14: Saudi Arabia Electric Vehicle Market Size, By Value (USD Million), 2018-2028F
Figure 15: Saudi Arabia Electric Vehicle Market Share, By Vehicle Type, By Volume, 2018-2028F
Figure 16: Saudi Arabia Electric Vehicle Market Share, By Propulsion, By Volume, 2018-2028F
Figure 17: Saudi Arabia Electric Vehicle Market Share, By Range, By Volume, 2018-2028F
Figure 18: Saudi Arabia Electric Vehicle Market Share, By Battery Capacity, By Volume, 2018-2028F
Figure 19: UAE Electric Vehicle Market Size, By Volume (Thousand Units), 2018-2028F
Figure 20: UAE Electric Vehicle Market Size, By Value (USD Million), 2018-2028F
Figure 21: UAE Electric Vehicle Market Share, By Vehicle Type, By Volume, 2018-2028F
Figure 22: UAE Electric Vehicle Market Share, By Propulsion, By Volume, 2018-2028F
Figure 23: UAE Electric Vehicle Market Share, By Range, By Volume, 2018-2028F
Figure 24: UAE Electric Vehicle Market Share, By Battery Capacity, By Volume, 2018-2028F
Figure 25: Qatar Electric Vehicle Market Size, By Volume (Thousand Units), 2018-2028F
Figure 26: Qatar Electric Vehicle Market Size, By Value (USD Million), 2018-2028F
Figure 27: Qatar Electric Vehicle Market Share, By Vehicle Type, By Volume, 2018-2028F
Figure 28: Qatar Electric Vehicle Market Share, By Propulsion, By Volume, 2018-2028F
Figure 29: Qatar Electric Vehicle Market Share, By Range, By Volume, 2018-2028F
Figure 30: Qatar Electric Vehicle Market Share, By Battery Capacity, By Volume, 2018-2028F
Figure 31: Kuwait Electric Vehicle Market Size, By Volume (Thousand Units), 2018-2028F
Figure 32: Kuwait Electric Vehicle Market Size, By Value (USD Million), 2018-2028F
Figure 33: Kuwait Electric Vehicle Market Share, By Vehicle Type, By Volume, 2018-2028F
Figure 34: Kuwait Electric Vehicle Market Share, By Propulsion, By Volume, 2018-2028F
Figure 35: Kuwait Electric Vehicle Market Share, By Range, By Volume, 2018-2028F
Figure 36: Kuwait Electric Vehicle Market Share, By Battery Capacity, By Volume, 2018-2028F
Figure 37: Oman Electric Vehicle Market Size, By Volume (Thousand Units), 2018-2028F
Figure 38: Oman Electric Vehicle Market Size, By Value (USD Million), 2018-2028F
Figure 39: Oman Electric Vehicle Market Share, By Vehicle Type, By Volume, 2018-2028F
Figure 40: Oman Electric Vehicle Market Share, By Propulsion, By Volume, 2018-2028F
Figure 41: Oman Electric Vehicle Market Share, By Range, By Volume, 2018-2028F
Figure 42: Oman Electric Vehicle Market Share, By Battery Capacity, By Volume, 2018-2028F
Figure 43: Bahrain Electric Vehicle Market Size, By Volume (Thousand Units), 2018-2028F
Figure 44: Bahrain Electric Vehicle Market Size, By Value (USD Million), 2018-2028F
Figure 45: Bahrain Electric Vehicle Market Share, By Vehicle Type, By Volume, 2018-2028F
Figure 46: Bahrain Electric Vehicle Market Share, By Propulsion, By Volume, 2018-2028F
Figure 47: Bahrain Electric Vehicle Market Share, By Range, By Volume, 2018-2028F
Figure 48: Bahrain Electric Vehicle Market Share, By Battery Capacity, By Volume, 2018-2028F

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