Electric Vehicle Market-UAE
Base Year: 2023
Historical Years: 2018-2023
Forecast Years: 2024-2032
Market Size in 2023: USD 2.0 Billion
Market Size in 2032: USD 11.3 Billion
Market Growth Rate (CAGR) 2024-2032: 19.30%
According to IMARC Group's report titled "UAE Electric Vehicle Market Report and Forecast 2024-2032," the market reached USD 2.0 billion in 2023. Looking forward, IMARC Group expects the market to reach USD 11.3 billion by 2032, exhibiting a growth rate (CAGR) of 19.30% during 2024-2032. The market is rapidly growing, driven by government incentives, infrastructure development, and increasing environmental awareness.
Download sample copy of the Report: https://www.imarcgroup.com/uae-electric-vehicle-market/requestsample
UAE Electric Vehicle Market Trends and Drivers:
- Rapid Expansion: The UAE EV market is rapidly expanding, driven by several key factors.
- Government Commitment: Strong commitment to reducing carbon emissions and promoting sustainable transport is central to this growth.
- Initiatives:
- Expanding the charging infrastructure
- Offering incentives for EV purchases
- Setting ambitious targets to cut oil dependency
- Consumer Awareness: Increasing environmental awareness among consumers and the availability of more cost-effective and efficient EV models contribute to the market’s momentum.
- Charging Stations: Growing number of charging stations, especially in cities like Dubai and Abu Dhabi, makes the transition to electric mobility more accessible.
- Battery Technology: Advancements in battery technology and a focus on energy efficiency.
- Performance Enhancement: Development of longer-lasting, fast-charging batteries enhances EV performance and appeal.
- Smart Technologies: Integration of autonomous driving features and advanced infotainment systems attracts tech-savvy consumers.
- Collaborations: Partnerships between local authorities and global automakers to introduce a broader range of EV models.
- Sustainability Priority: With sustainability as a priority, the UAE EV market is set for continued growth, driven by government support and ongoing technological innovations.
UAE Electric Vehicle Industry Segmentation:
The market report offers a comprehensive analysis of the segments, highlighting those with the largest UAE electric vehicle market share. It includes forecasts for the period 2024-2032 and historical data from 2018-2023 for the following segments.
Component Insights:
- Battery Cells and Packs
- Fuel Stack
- On-Board Charger
- Electric Motor
- Brake, Wheel and Suspension
- Body and Chassis
- Others
Propulsion Type Insights:
- Battery Electric Vehicle (BEV)
- Fuel Cell Electric Vehicle (FCEV)
- Plug-In Hybrid Electric Vehicle (PHEV)
Vehicle Type Insights:
- Passenger Vehicles
- Commercial Vehicles
- Others
Regional Insights:
- Dubai
- Abu Dhabi
- Sharjah
- Others
Request for customization: https://www.imarcgroup.com/request?type=report&id=24258&flag=C
Competitive Landscape:
The competitive landscape of the industry has also been examined along with the profiles of the key players.
Key highlights of the Report:
- Market Performance (2018-2023)
- Market Outlook (2024-2032)
- COVID-19 Impact on the Market
- Porter’s Five Forces Analysis
- Strategic Recommendations
- Historical, Current and Future Market Trends
- Market Drivers and Success Factors
- SWOT Analysis
- Structure of the Market
- Value Chain Analysis
- Comprehensive Mapping of the Competitive Landscape
Note: If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
About Us:
IMARC Group is a global management consulting firm that helps the world’s most ambitious changemakers to create a lasting impact. The company provide a comprehensive suite of market entry and expansion services. IMARC offerings include thorough market assessment, feasibility studies, company incorporation assistance, factory setup support, regulatory approvals and licensing navigation, branding, marketing and sales strategies, competitive landscape and benchmarking analyses, pricing and cost research, and procurement research.
Contact Us:
IMARC Group
134 N 4th St. Brooklyn, NY 11249, USA
Email: sales@imarcgroup.com
Tel No:(D) +91 120 433 0800
United States: +1-631-791-1145