Latest Development (2022) in Jordan Electric Vehicle Market
Jordan Electric Vehicle Market has seen the latest developments that include the establishment of public charging networks and faster-charging rates at many facilities. The prices of EVs have also reduced significantly due to increased subsidies by the government. Many manufacturers have now come up with more efficient batteries, electric powertrains, and faster-charging systems for their vehicles that ensure longer charging cycles and range for EVs. The implementation of the Jordan National Vision 2025 initiative by the government to support green and clean energy projects such as the installation of 3,000 charging stations in several parts of the country and lower taxes as compared to conventional and hybrid vehicles has also promoted the EV market. Jordan’s Nationally Determined Contributions (NDCs) Action Plan commits to achieving a 14% reduction in greenhouse gas emissions by 2030 and e-mobility can play a major role in helping Jordan achieve this.
Mergers and Acquisitions:
- In December 2020, Hyundai Motor Group acquired the controlling interest in Boston Dynamics
- On June 17, 2021, Ford announced that it is acquiring Electriphi, a California-based provider of charging management and fleet monitoring software for electric vehicles.
Increasing the introduction of a law that includes tax credit on the purchase of an electric vehicle is boosting the growth of the industry. However, various restrictions are being imposed to avail the credit such as the buyer income caps.
Jordan Electric Vehicle Market Synopsis
Jordan Electric Vehicle Market is expected to gain momentum owing to the increasing carbon emission. Rising penetration towards the adoption of renewable sources owing to the rising levels of air pollution is adding to the development of the market. Growing initiatives taken by the government in order to propel the sale of electric vehicle is contributing to the Jordan Electric Vehicle Market Share. Moreover, low initial cost and increasing innovation of products by the manufacturer are providing lucrative growth opportunities to Jordan Electric Vehicle Market. Ease of mobility and charging at home is also proliferating the development of the industry.
The Jordan electric vehicle market report is a part of the Middle East Electric Vehicle Market report comprehensively covers the market by vehicle types and regions. The Jordan electric vehicle market outlook report provides an unbiased and detailed analysis of the Jordan electric vehicle market trends, opportunities, high growth areas, and market drivers which would help the stakeholders device and align their market strategies according to the current and future market dynamics.
Jordan is adopting renewable energy due to the scarcity of fossil fuels to reduce government spending on energy imports. Under the Nation Green Growth Plan (NGGP), the government is aiming to make consumers aware and provide them incentives for the usage of electric vehicles. Moreover, the increasing number of charging stations to help the end-users to recharge their vehicles' batteries easily would act as a key driver for the growth of the electric vehicle market in the country. According to 6Wresearch, the Jordan Electric Vehicle Market size is projected to grow at a CAGR of 34.0% during 2019-2025. A significant investment being made for the implementation of the Jordan National Vision 2025 initiative by the government to support green and clean energy projects such as the installation of 3,000 charging stations in several parts of the country and lower taxes as compared to conventional and hybrid vehicles. This would further fuel the demand for electric vehicles in Jordan in the future.
Market Analysis by Region
In Jordan, the Central Region is expected to dominate the overall Jordan Electric Vehicle market share during the forecast period owing to availability of charging stations and maintenance centers. In addition to this, many electric vehicles supporting infrastructural projects by the Jordan government in co-operation with private companies in the country's capital- Amman are creating new opportunities for the electric vehicle segment in the Central region of Jordan.
Key Players in the Market
Some of the key players in the Jordan electric vehicle market include –
- Nissan Motor Co., Ltd.
- Tesla, Inc.
- Fiat Automobiles S.P.A.
- Volkswagen Motor Company LTM
- Bayerische Motoren Werke AG
- General Motors Company
Key Attractiveness of the Report
- 10 Years Market Numbers.
- Historical Data Starting from 2015 to 2018.
- Base Year: 2018.
- Forecast Data until 2025.
- Key Performance Indicators Impacting the Market.
- Major Upcoming Developments and Projects.
Key Highlights of the Report:
- Jordan Electric Vehicle Market Overview
- Jordan Electric Vehicle Market Outlook
- Jordan Electric Vehicle Market Forecast
- Jordan Electric Vehicle Market Size and Jordan Electric Vehicle Market Forecast, Until 2025.
- Historical Data of Jordan Electric Vehicle Market Revenues for the Period 2015-2018
- Market Size & Forecast of Jordan Electric Vehicle Market Revenues until 2025
- Historical Data of Jordan Electric Vehicle Market Revenues, By Types, for the Period 2015-2018
- Market Size & Forecast of Jordan Electric Vehicle Market Revenues, By Types, until 2025
- Historical Data of Jordan Electric Vehicle Market Revenues, By Regions, for the Period 2015-2018
- Market Size & Forecast of Jordan Electric Vehicle Market Revenues, By Regions, until 2025
- Jordan Electric Vehicle Market Drivers and Restraints
- Jordan Electric Vehicle Market Trends and Industry Life Cycle
- Jordan Electric Vehicle Market Porter’s Five Force Analysis
- Jordan Electric Vehicle Market Opportunity Assessment
- Jordan Electric Vehicle Market Share, By Players
- Jordan Electric Vehicle Market Overview on Competitive Benchmarking
- Company Profiles
- Key Strategic Recommendations
Markets Covered
The Jordan electric vehicle market report provides a detailed analysis of the following market segments:
By Vehicle Types
- Two Wheeler
- Passenger Vehicle
- Bus
By Regions
- Central
- Eastern
- Southern
