UAE Electric Vehicle Market Outlook (2022-2028)

Market Forecast By Vehicle Types (Passenger Vehicle, Two-Wheeler, Bus, and Truck), By Regions (Northern, Central, Southern), and Competitive Landscape

Product Code: ETC000608 Publication Date: Jun 2022 Product Type: Report
Publisher: 6Wresearch No. of Pages: 71 No. of Figures: 20 No. of Tables: 4

UAE Electric Vehicle Market report thoroughly covers the market by product types and regions. UAE electric vehicle market report provides an unbiased and detailed analysis of the ongoing market trends, opportunities/high growth areas, and market drivers which would help the stakeholders to devise and align their market strategies according to the current and future market dynamics.

UAE Electric Vehicle Market Synopsis

The UAE Electric Vehicle market is currently in its early stage and witnessed certain growth during the period 2018-2021 owing to the Electric Vehicle (EV) Green Charger initiative undertaken by the government of UAE. However, the COVID-19 pandemic affected market revenues during the year 2020 as the mobility restrictions led to supply chain disruptions for electric motors and halted the manufacturing operations thereby resulting in a fall in market demand and hence the market revenues.

UAE Electric Vehicle Market Outlook (2022-2028)

The UAE Electric Vehicle Market size is projected to grow at a CAGR of 24.2% in terms of revenues during 2022-2028. The UAE electric vehicle market would register growth during the forecast period on account of an increase in tourist footfall in the country which is going to expand the car rental business in the emirates, coupled with domestic consumption on the back of economic benefits provided by the government to promote the electric vehicle in the country.  Rising penetration towards the development of renewable and emission-less vehicles is adding to the UAE Electric Vehicle Market Growth. Additionally, the low maintenance and the initial cost of an electric vehicle are proliferating the growth of the market. 

UAE Electric Vehicle Market Outlook (2022-2028)

Market by Vehicle Types Analysis

In terms of vehicle types, passenger vehicles contributed 95.1% of revenue in the UAE Electric Vehicle market share in 2021 owing to the increasing trend of rental car service in the country coupled with domestic residential buyers. Additionally, because of the limited scope for the implementation commercial vehicle in FMCG sector and transportation & logistic supply in UAE it holds the largest revenue share. However, in terms of volume two-wheeler segment is expected to grow during the forecasted period owing to gradual developments in logistics and food delivery services.

 

UAE Electric Vehicle Market Outlook (2022-2028)

Market by Regions Analysis

In 2021, the Northern region acquired a 54.1% revenue share in the UAE electric vehicle market Revenue on account of rapid urbanization and availability of charging infrastructure and maintenance centers in Dubai, Abu Dhabi. This trend is expected to persist in the coming years owing to the development of EV supporting infrastructure such as charging stations and maintenance services increasing the number of EVs in the country.

Key Attractiveness of the Report

  • COVID-19 Impact on the Market.
  • 10 Years Market Numbers.
  • Historical Data Starting from 2018 to 2020.
  • Base Year: 2021
  • Forecast Data until 2028.
  • Key Performance Indicators Impacting the Market.

Key Highlights of the Report

  • UAE Electric Vehicle Market Overview
  • UAE Electric Vehicle Market Outlook
  • UAE Electric Vehicle Market Forecast
  • Historical Data and Forecast of UAE Electric Vehicle Market Revenues, for the Period 2018-2028F
  • Historical Data and Forecast of UAE Electric Vehicle Market Revenues, By Vehicle Type, for the Period 2018-2028F
  • Historical Data and Forecast of UAE Electric Vehicle Market Revenues, By Region, for the Period 2018-2028F
  • Historical Data and Forecast of UAE Electric Vehicle Market Volume, for the Period 2018-2028F
  • Historical Data and Forecast of UAE Electric Vehicle Market Volume, By Vehicle Type, for the Period 2018-2028F
  • Historical Data and Forecast of UAE Electric Vehicle Market Volume, By Region, for the Period 2018-2028F
  • UAE Electric Vehicle Market Revenue Ranking, By Companies
  • Covid-19 Impact on UAE Electric Vehicle Market
  • Market Drivers and Restraints
  • UAE Electric Vehicle Market Trends
  • Industry life Cycle
  • Porter’s Five Force Analysis
  • Price Trend Analysis
  • Competitive Benchmarking
  • Company Profiles
  • Key Strategic Recommendations

Market Scope and Segmentation

The report provides a detailed analysis of the following market segments:

By Vehicle Types

  • Passenger Cars
  • Two-Wheelers
  • Commercial Vehicles

By Regions

  • Northern
  • Central
  • Southern

Frequently Asked Questions About the Market Study:

  • Does the report consider the COVID-19 impact?
    The report not only has considered COVID-19 impact but also current market dynamics, trends and KPIs into consideration.
  • How much growth is expected in the UAE Electric Vehicle Market over the coming years?
    The UAE Electric Vehicle Market growth in revenues is anticipated to record a CAGR of 24.2% during 2022-28.
  • Which segment has captured a key share of the market?
    The segment, passenger cars garnered the majority revenue share in UAE electric vehicle market owing to their large-scale usage in rental car services couple with growing domestic residential buyers.
  • Which segment is exhibited to gain traction over the forecast period?
    In terms of volume, Two-wheeler segment would register prominent growth during the forecast period on the back of developments in logistic and food delivery services however in terms of revenue, passenger cars would hold a major market share owing to growing car rental sector in the country boosted by the expected increase in tourist footfall during the forecast period.
  • Who are key the key players of the market?
    The key players in the market include- Nissan Motor Co, Ltd., Tesla, Inc., Hyundai Motor Company, Toyota Motor Corporation, The Volkswagen AG, General Motors Company, Lucid Group, Inc., Zhengzhou Yutong Bus Co. Ltd., One Moto, and Morris Garage.
  • Is customization available in the market study?
    Yes, we can do customization as per your requirements. Please feel free to write to us sales@6wresearch.com for any customized or any other requirements.
  • We also want to have market reports for other countries/regions.
    6Wresearch has a database of more than 60 countries globally, which can make us your first choice of all your research needs.
1. Executive Summary
2. Introduction
2.1 Key Highlights of the Report
2.2 Report Description
2.3Market Scope and Segmentation
2.4 Research Methodology
2.5 Assumptions
3. UAE Electric Vehicle Market Overview
3.1 UAE Electric Vehicle Market Revenues and Volume (2018-2028F)
3.2 UAE Electric Vehicle Market Industry Life Cycle
3.3 UAE Electric Vehicle Market Porter’s Five Forces Model
4. Impact Analysis of COVID-19 on UAE Electric Vehicle Market
5. UAE Electric Vehicle Market Dynamics
5.1 Impact Analysis
5.2 Market Drivers
5.3 Market Restraints
6. UAE Electric Vehicle Market Trends & Evolution
7. UAE Electric Vehicle Market Overview, By Vehicle Type
7.1 UAE Electric Vehicle Market Revenue and Volume Share, By Vehicle Type (2021E & 2028F)
7.2 UAE Electric Vehicle Market Revenue and Volume, By Vehicle Type (2018-2028F)
7.2.1 UAE Electric Vehicle Market Revenues and Volume, By Passenger Cars (2018-2028F)
7.2.2 UAE Electric Vehicle Market Revenues and Volume, By Two-Wheelers (2018-2028F)
7.2.3 UAE Electric Vehicle Market Revenues and Volume, By Commercial Vehicles (2018-2028F)
8. UAE Electric Vehicle Market Overview, By Region
8.1 UAE Electric Vehicle Market Revenue and Volume Share, By Region (2021E & 2028F)
8.2 UAE Electric Vehicle Market Revenue and Volume, By Region (2018 & 2028F)
8.2.1 UAE Electric Vehicle Market Revenues and Volume, By Nothern (2018-2028F)
8.2.2 UAE Electric Vehicle Market Revenues and Volume, By Central (2018-2028F)
8.2.3 UAE Electric Vehicle Market Revenues and Volume, By Southern (2018-2028F)
9. UAE Electric Vehicle Market - Key Performance Indicators
10. UAE Electric Vehicle Market - Opportunity Assessment
10.1 UAE Electric Vehicle Market - Opportunity Assessment, By Vehicle Type (2028F)
10.2  UAE Electric Vehicle Market - Opportunity Assessment, By Region (2028F)
11. UAE Electric Vehicle Market - Price Trend Analysis
12. UAE Electric Vehicle Market Competitive Landscape
12.1 UAE Electric Vehicle Market Company Ranking, By Companies (2021E)
12.2 UAE Electric Vehicle Market Key Companies Competitive Benchmarking, By Technical Parameters
12.3 UAE Electric Vehicle Market Key Companies Competitive Benchmarking, By Operating Parameters
13. Company Profiles
13.1 Nissan Motor Co, Ltd.
13.2 Tesla, Inc.
13.3 Hyundai Motor Company
13.4 Toyota Motor Corporation
13.5 The Volkswagen AG
13.6 General Motors Company
13.7 Lucid Group, Inc.,
13.8 Zhengzhou Yutong Bus Co. Ltd.
13.9 One Moto
13.10 Morris Garage
14. Key Strategic Recommendations
15. Disclaimer
List of Figures
Figure 1: UAE Electric Vehicle Market Revenues & Volume, 2018-2028F ($ Million, Units)
Figure 2: UAE Cumulative Carbon Dioxide Emission, 2015-2020 (billion tonnes)
Figure 3. UAE Fuel Prices, 2021, (Dirham/Liter)
Figure 4: UAE Electric Vehicle Market Revenue Share, By Vehicle Type, 2021E & 2028F
Figure 5: UAE Electric Vehicle Market Volume Share, By Vehicle Type, 2021E & 2028F
Figure 6: UAE Electric Vehicle Market Revenue Share, By Region, 2021E & 2028F
Figure 7: UAE Electric Vehicle Market Volume Share, By Region, 2021E & 2028F
Figure 8: UAE Volume of Imports and Exports, 2019-2026F (% Change)
Figure 9: UAE GDP, 2016-2023F (In $ bn)
Figure 10: UAE Government Revenues vs Government Expenditure, 2019-2026F (% of GDP)
Figure 11: UAE Total Investment As Percent of GDP, 2019-2026F
Figure 12: Distribution of EV Connectors in 2021
Figure 13: UAE Electric Vehicle Market Volume Opportunity Assessment, By Vehicle Type, 2028F
Figure 14: UAE Electric Vehicle Market Volume Opportunity Assessment, By Region, 2028F
Figure  15: UAE Electric Vehicle – Two-wheeler Average Selling Price Trend, In $, 2018-2028F
Figure 16: UAE Electric Vehicle – Passenger Vehicle Average Selling Price Trend, In 1000$, 2018-2028F
Figure 17: UAE Electric Vehicle – Commercial Vehicle Average Selling Price Trend, In 1000$, 2018-2028F
Figure 18: UAE Electric Vehicle Market Revenue Ranking, By Companies, 2021E
Figure 19: Abu Dhabi Residential Supply, 2018-2022F (Thousand Units)
Figure 20: Dubai Residential Supply, 2018-2022F (Thousand Units)
List of Tables
Table 1: UAE Electric Vehicle Market Revenues, By Vehicle Type 2018-2028F ($ Million)
Table 2: UAE Electric Vehicle Market Volumes, By Vehicle Type, 2018-2028F (Units)
Table 3: UAE Electric Vehicle Market Revenues, By Region 2018-2028F ($ Million)
Table 4: UAE Electric Vehicle Market Volumes, By Region, 2018-2028F (Units)
 

Market Forecast By Vehicle Types (Passenger Vehicle, Two-Wheeler, Bus, and Truck), By Regions (Dubai, Abu Dhabi and Rest of Emirates), and Competitive Landscape

Product Code: ETC000608 Publication Date: Nov 2021 Product Type: Report
Publisher: 6Wresearch No. of Pages: 75 No. of Figures: 32

Latest 2021 developments:

UAE Electric Vehicle Market has seen the latest developments that include the installation of solar rooftop panels across the Middle East including electric vehicle charging stations, fast-charging stations for EVs, and the introduction of the vehicle to grid smart charging systems to maximize energy optimization. There are two cable standards developed to support the EV market. With the use of smart charging devices, charging cables can be expected to supply both power and communication. Dubai, along with Abu Dhabi, has launched e-scooters in densely populated areas in the hopes of reducing congestion and encouraging residents towards sustainable methods of transportation. Saudi Electricity company signed a deal with Nissan Motor, Takaoka Tokyo, and Tokyo Electric Power Company for the first EV pilot project in Saudi Arabia.

Mergers and Acquisitions:

  • In September 2020, General Motors acquired an 11 percent stake in the electric truck startup, Nikola.
  • In December 2020, Hyundai Motor Group acquired a controlling interest in Boston Dynamics

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Previous Release:

UAE has been a huge potential market for automobile makers as consumers spend extensively on vehicles in the country. Due to this, the electric vehicle market is gradually strengthening its footing in the automobile market of the UAE. Although, the gap in the charging infrastructure and the relatively low fuel prices may potentially hamper the growth of electric vehicles in the nation. However, rising environmental issues and lucrative offers and incentives by the government would drive electric vehicle penetration in the UAE over the next six years. 

According to 6Wresearch, UAE Electric Vehicle Market size is projected to grow at a CAGR of 32.1% during 2019-25. Under UAE Vision 2021, the government is encouraging the adoption of electric vehicles in the country. In addition to this, Dubai Electricity and Water Authority (DEWA) and Road Transport Authority (RTA) are working together for the development of the electric vehicle market in the country by installing charging stations and providing incentives such as free parking and exemption from toll and registration fees.

UAE Electric Vehicle Market
Dubai acquired the highest UAE electric vehicle market share as compared to other Emirates in the country owing to the better electric vehicle supporting infrastructure such as charging stations. Additionally, authorities and private companies are working towards improving the charging technology which would reduce the charging time for electric vehicles. This, in turn, would create a suitable environment for the growth of electric vehicles across the country. Some of the key players in the UAE electric vehicle market include - Tesla, Inc., Hyundai Motor Company, Volkswagen Motor Company LTM, Bayerische Motoren Werke AG, and others.

The UAE electric vehicle market report comprehensively covers the market by vehicle types and regions. The UAE electric vehicle market outlook report provides an unbiased and detailed analysis of the UAE Electric vehicle market trends, opportunities, high growth areas, and market drivers which would help the stakeholders to devise and align their market strategies according to the current and future market dynamics.

UAE Electric Vehicle Market government policies support the private companies for the development of electric vehicle and there infrastructure drive the market in the UAE for electric vehicle. There are new models of the electric vehicle Peugeot and Nissan LEAF the demand for the electric vehicle is going to rise in the UAE market. There are more facilities for electric vehicles such as installing charging stations in the country, providing free parking, registration fees for electric vehicles in the country.   

Key Highlights of the Report:

•UAE Electric Vehicle Market Overview 
• UAE Electric Vehicle Market Outlook
• UAE Electric Vehicle Market Size and UAE Electric Vehicle Market Forecast, until 2025 
• Historical Data of UAE Electric Vehicle Market Revenues for the Period, 2015-2018
• Market Size & Forecast of UAE Electric Vehicle Market Revenues, until 2025F
• Historical Data of UAE Electric Vehicle Market Revenues by Vehicle Type for the Period, 2015-2018
• Market Size & Forecast of UAE Electric Vehicle Market Revenues by Vehicle Type, until 2025F
• Historical Data of UAE Electric Vehicle Market Revenues by Region for the Period, 2015-2018
• Market Size & UAE Electric Vehicle Market Forecast by Region, until 2025F
• Market Drivers and Restraints
• UAE Electric Vehicle Market Trends
• UAE Electric Vehicle Market Overview on Competitive Benchmarking
• Competitive Landscape
• UAE Electric Vehicle Market Share, By Players 
• Company Profiles
• Key Strategic Recommendations

Markets Covered

The UAE electric vehicle market report provides a detailed analysis of the following market segments:

• By Vehicle Types

    o Passenger Vehicle
    o Two-Wheeler
    o Bus
    o Truck

• By Regions

    o Dubai
    o Abu Dhabi
    o Rest of Emirates

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