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Report
UAE Electric Vehicle Market, By Vehicle Type (Two-Wheeler, Passenger Car, LCV, M&HCV), By Propulsion (BEV, HEV, PHEV, FCEV), 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 Region, Competition Forecast & Opportunities, 2028
Market Report I 2023-02-01 I 75 Pages I TechSci Research
UAE electric vehicle market is anticipated to grow at a robust CAGR in the forecast period, 2024-2028. The government's support to develop the supportive charging infrastructure and the growing environmental concerns among consumers are driving the demand for UAE electric vehicle market. Also, the high-end investments for research and development activities by the market players and the launch of newer electric vehicle models into the market are the other driver factors that are expected to play a significant role in accelerating the UAE electric vehicle market demand over the forecast period.
Increasing Environmental Concern Drives the Market growth
The transportation sector is responsible for generating significant greenhouse emissions into the environment. Electric vehicles have the potential to revolutionize the transportation sector. Dubai has stated a target of having 10% of all vehicles electric or hybrid by 2030. Electric vehicles are less expensive and require less maintenance than other transportation modes. They generate negligible noise while driving and are highly preferred among consumers. The launch of electric vehicles into the market varying in battery capacity, mileage, seating capacity, color, price, and other specifications are attracting the customer to invest in the purchase of electric vehicles. The negative effect of greenhouse gasses on the environment and the growing consumer awareness about the benefits of using clean vehicles are expected to fuel the demand for electric vehicles over the next five years.
Supportive Government Policies Favor the High Market Demand
The government is introducing several programs and initiatives to promote green mobility across the country as transportation plays a crucial role in lowering the carbon footprint. The programs aim to provide public transportation systems and encourage consumers to shift towards natural gas, hydrogen, and electricity-based vehicles. The UAE boasts of the presence of one of the largest numbers of charging stations and is working to increase the number of charging stations. The Dubai Electricity and Water Authority launched an initiative called the "Green Charger" initiative to build charging stations in Dubai to support the Dubai Green Mobility Strategy 2030. The incentives offered by the government and various financial institutions are encouraging the import of electric vehicles into the country. The high support from the government in the form of favorable government policies is expected to bolster the sales of electric vehicles for the next five years.
Advancements in Technology Support the Market Growth
The high demand for luxury cars and premium cars creates lucrative growth opportunities for the UAE electric vehicle market. Market players invest hefty amounts in research and development activities to find innovative solutions and upgrade the existing infrastructure. They are focusing on developing high-capacity batteries and the construction of the charging infrastructure to enhance the convenience and comfort of consumers. The rapid integration of wall-based high-speed hyper charging capacitance significantly reduces the charging time to half of its initial time. Also, the availability of mobile charging platforms such as portable chargers, charging vans, and temporary chargers where the chargers do not require the infrastructure. Electric vehicles can be easily charged at the roadside without the need for structural modifications and large financial outlays. The rise in the research and development activities by the market players to introduce better-performing electric vehicles and their parts is expected to boost the demand for UAE electric vehicle market in the coming years.
Market Segmentation
The UAE electric vehicle market is segmented into vehicle type, propulsion, range, battery capacity, regional distribution, and competitive landscape. Based on vehicle type, the market is divided into two-wheeler, passenger car, LCV, M&HCV. Based on propulsion, the market is divided into BEV, HEV, PHEV, and FCEV. Based on range, the market is divided into 0-50 miles, 51-150 miles, 151-200 miles, 201-400 miles, and above 400 miles. Based on battery capacity, the market is divided into <50 kWh, 51-100 kWh, 101-200 kWh, 201-300 kWh, and above 300 kWh. To analyze the market based on the region, the UAE electric vehicle market is studied in major regions namely Dubai, Abu Dhabi, Sharjah, and Rest of the UAE.
Market Players
Hyundai Motor Company, Tesla, Inc., Volkswagen Motor Company LTM, General Motors Company, Groupe Renault, BMW AG, Ford Motor Company, One Moto Technologies LTD, Rivian, LLC, Mitsubishi Fuso Truck and Bus Corporation, are the major market players operating in the UAE electric vehicle market.
Report Scope:
In this report, UAE electric vehicle market has been segmented into the following categories, in addition to the industry trends which have also been detailed below:
- UAE Electric Vehicle Market, By Vehicle Type:
o Two-Wheeler
o Passenger Car
o LCV
o M&HCV
- UAE Electric Vehicle Market, By Propulsion:
o BEV
o HEV
o PHEV
o FCEV
- UAE 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
- UAE 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
- UAE Electric Vehicle Market, By Region:
o Dubai
o Abu Dhabi
o Sharjah
o Rest of UAE
Competitive Landscape
Company Profiles: Detailed analysis of the major companies present in UAE 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. Product Overview
2. Research Methodology
3. Executive Summary
4. Impact of COVID-19 on UAE Electric Vehicle Market
5. Voice of Customer
5.1. Factors Influencing Purchase Decision
5.2. Aided Brand Recall and Unaided Brand Recall
5.3. Brand Satisfaction Level
6. UAE Electric Vehicle Market Outlook
6.1. Market Size & Forecast
6.1.1. By Value and Volume
6.2. Market Share & Forecast
6.2.1. By Vehicle Type (Two-Wheeler, Passenger Car, LCV, M&HCV, OTR)
6.2.2. By Propulsion (BEV, HEV, PHEV, FCEV)
6.2.3. By Range (0-50 Miles, 51-150 Miles, 151-200 Miles, 201-400 Miles, Above 400 Miles)
6.2.4. By Battery Capacity (<50 kWh, 51-100 kWh, 101-200 kWh, 201-300 kWh, Above 300 kWh)
6.2.5. By Region
6.2.6. By Company (2022)
6.3. Product Market Map (By Vehicle Type, By Region)
7. UAE Electric Two-Wheeler Market Outlook
7.1. Market Size & Forecast
7.1.1. By Value and Volume
7.2. Market Share & Forecast
7.2.1. By Vehicle Type (Scooter, Motorcycle)
7.2.2. By Propulsion
7.2.3. By Range
7.2.4. By Battery Capacity
8. UAE Electric Passenger Car Market Outlook
8.1. Market Size & Forecast
8.1.1. By Value and Volume
8.2. Market Share & Forecast
8.2.1. By Vehicle Type (Hatchback, Sedan, SUV/MPV)
8.2.2. By Propulsion
8.2.3. By Range
8.2.4. By Battery Capacity
9. UAE Electric LCV Market Outlook
9.1. Market Size & Forecast
9.1.1. By Value and Volume
9.2. Market Share & Forecast
9.2.1. By Vehicle Type (Pick Up Truck, Van)
9.2.2. By Propulsion
9.2.3. By Range
9.2.4. By Battery Capacity
10. UAE Electric M&HCV Market Outlook
10.1. Market Size & Forecast
10.1.1. By Value and Volume
10.2. Market Share & Forecast
10.2.1. By Vehicle Type (Truck, Bus)
10.2.2. By Propulsion
10.2.3. By Range
10.2.4. By Battery Capacity
11. Market Dynamics
11.1. Drivers
11.2. Challenges
12. Market Trends and Developments
13. Policy and Regulatory Landscape
14. UAE Economic Profile
15. Competitive Landscape
15.1. Company Profiles (Partial List of Leading Companies)
15.1.1. Hyundai Motor Company
15.1.2. Tesla, Inc.
15.1.3. Volkswagen Motor Company LTM
15.1.4. General Motors Company
15.1.5. Groupe Renault
15.1.6. BMW AG
15.1.7. Ford Motor Company
15.1.8. One Moto Technologies LTD.
15.1.9. Rivian, LLC
15.1.10. Mitsubishi Fuso Truck and Bus Corporation
16. Strategic Recommendations
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