Electric Vehicles Market in GCC 2025:
How Big is the GCC Electric Vehicles Industry?
The GCC electric vehicles market size reached 40.3 Thousand Units in 2024. Looking forward, IMARC Group expects the market to reach 97.3 Thousand Units by 2033, exhibiting a growth rate (CAGR) of 9.3% during 2025-2033.
Base Year: 2024
Historical Years: 2019-2024
Forecast Years: 2025-2033
Market Size in 2024: 40.3 Thousand Units
Market Size in 2033: 97.3 Thousand Units
Market Growth Rate (CAGR) 2025-2033: 9.3%
GCC Electric Vehicles Market Trends and Drivers:
The growth of the GCC electric vehicles market is due to a combination of factors which are improved energy security with greater carbon emissions reduction and energy diversification in line with national programmes. Besides, the government and related agencies continue to encourage EV adoption by providing subsidies such as a tax break, free charging stations and lower registration fees among other incentives to switch users from conventional internal combustion engine (ICE) cars. Advanced EV infrastructure (e.g., charging infrastructure and intelligent grids) also is a market stimulus for growth. Furthermore, rising fuel prices compounded with the growing environmental consciousness of customers is driving the adoption of electric vehicles. However, strategic investments in renewable energy, e.g., solar and wind power, are also playing a role in the expansion of the EV market through the provision of clean and efficient electricity generation.
A significant trend in the GCC electric vehicle (EV) market is the fast technical progresses of their technologies driven by the battery energy and energy storage technologies, subsequently bringing a decrease in the cost and an increase in vehicle ranges. Automakers are rolling out different types of EV, from electric SUVs to premium cars, in order to satisfy the demand of the wealthy consumers (i.e., high end consumers) of the region. The same market is undergoing a change in this direction for electric public vehicles, i.e., electric buses and taxis, to reduce urban emissions and promote green mobility. Moreover, government-industry collaborations are encouraging innovation in areas of EV infrastructure, such as supercapacitive fast chargers and wireless chargers. The proliferation of a market for autonomous, "smart" electric road vehicles, however, is another market driver, which in turn creates the potential for intelligent mobility solutions. The GCs electric vehicles market is predicted to be driven by policy incentives, technological advances, and growing consumer pressure for environmentally friendly transportation.
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GCC Electric Vehicles Market Report Segmentation:
The report has segmented the market into the following categories:
By Component:
- Battery Cells and Packs
- On-Board Charger
- Fuel Stack
By Charging Type:
- Slow Charging
- Fast Charging
By Propulsion Type:
- Battery Electric Vehicle (BEV)
- Fuel Cell Electric Vehicle (FCEV)
- Plug-In Hybrid Electric Vehicle (PHEV)
- Hybrid Electric Vehicle (HEV)
By Vehicle Type:
- Passenger Vehicles
- Commercial Vehicles
- Others
By Country:
- Saudi Arabia
- UAE
- Qatar
- Bahrain
- Kuwait
- Oman
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Competitive Landscape:
The report offers an in-depth examination of the competitive landscape. It includes a thorough competitive analysis encompassing market structure, key player positioning, leading strategies for success, a competitive dashboard, and a company evaluation quadrant.
Key highlights of the Report:
- Market Performance (2019-2024)
- Market Outlook (2025-2033)
- 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.
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