UAE Electric Vehicle Market Growth, Trends, Revenue, Business Challenges and Future Share 2030: MarkNtel Advisors

August 19, 2024 akio01

Market Insights

As per recent research by MarkNtel Advisors, The UAE Electric Vehicle Market size is projected to grow at a CAGR of around 28.5% during the forecast period, i.e., 2024-30.

UAE Electric Vehicle Market Key Driver:

Active Government Efforts Toward Attaining Carbon Neutrality – In order to achieve carbon-zero targets and diversify the economy away from the overburdened oil & gas sector, the UAE government is taking various initiatives toward raising awareness among citizens about the benefits of electric vehicles and providing them with tax redemption or rebate. Hence, more & more people are shifting towards more automated & technologically updated electric vehicles, given the rising fuel prices and growing concerns over environmental degradation, thereby driving the UAE Electric Vehicle Market.

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Market Segmentation and Consumer Behavior:

By Vehicle Type

Passenger Vehicles
Two Wheelers
Commercial Vehicles

By Power Source

Battery Electric Vehicle (BEV)
Plug-In Hybrid Electric Vehicle (PHEV)
Hybrid Electric Vehicle (HEV)

By Battery Type

Lithium-Ion Battery
Lithium Titanate Oxide (LTO)

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UAE Electric Vehicle Market Geographical Analysis:

By Region:

Dubai
Al Ain & Abu Dhabi
Sharjah & Northern Emirates

Key Players and Competitive Strategies in the UAE Electric Vehicle Market

Several prominent players dominate the UAE Electric Vehicle Market, including:

Renault Group
Tesla
Chevrolet
BMW AG
Hyundai Motor Company
Nissan Motor Corporation
Ford Motor Company
Porsche Middle East & Africa
Toyota Motor Corporation
Ashok Leyland
Volvo Bus Company
One Moto
Others

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Questions Addressed in this Study

1.What factors are driving the UAE Electric Vehicle Market growth?

2.How is the UAE Electric Vehicle Market expected to grow over the next five years?

3.What are the key insights into the current trends in the UAE Electric Vehicle Market?

4.What is the current size of the UAE Electric Vehicle Market, and how is it projected to change in the future?

5.What is the future outlook for the UAE Electric Vehicle Market in terms of technological advancements and market expansion?

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Why MarkNtel Advisors?

MarkNtel Advisors is a leading research, consulting, & data analytics firm that provides an extensive range of strategic reports on diverse industry verticals. We deliver data to a substantial & varied client base, including multinational corporations, financial institutions, governments, & individuals, among others.

Our specialization in niche industries & emerging geographies allows our clients to formulate their strategies in a much more informed way and entail parameters like Go-to-Market (GTM), product development, feasibility analysis, project scoping, market segmentation, competitive benchmarking, market sizing & forecasting, & trend analysis, among others, for 15 diverse industrial verticals.